Banks ban Klarna?

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Buy now, pay never?

Banks are threatening to ban buy now, pay later schemes* such as Klarna and Clearpay. They say that customers are getting into “hidden debt” which is stopping them from repaying loans and overdrafts. The FCA is planning a review on whether the sector should be regulated, and we’ll find out the verdict next year.

Sunak says relax

Chancellor Rishi Sunak has said in an interview that the coronavirus support schemes like the furlough scheme will help to cushion any Brexit blows. He also warned that current levels of government borrowing are “not sustainable”. Many economists predict that interest rates will stay low, keeping borrowing affordable - but Rishi is worried they could rise.

Santa’s stuck at the border

Toy shops are facing stock shortages after shipping delays at UK ports. A number of toy and game orders won’t arrive in time for Christmas, and it’s costing toy shops thousands in sales. The British Toy and Hobby Association is calling on the government to ease port congestion and “save the festive season.”