Gambling Commission shows its hand

Tuesday 14th January

Get straight to the good stuff every day with the Multiply Minute; a lightning-quick round-up of the money news and how it affects you.

Flutters on credit cards

Betting with borrowed money is set to be banned from the 14th April. The strong play by the Gambling Commission is aimed at protecting vulnerable customers and has resulted in sharp falls in share prices for the industry’s biggest players. The ban will affect all online and offline bets and is the latest in a string of measures to stop people from getting into debt. Debit cards will still be allowed.

Travelex hack update

Sodinokibi, the criminals behind the Travelex computer hack, have published stolen data from a previous attack. This is the first time they've released ransacked files after a victim didn't pay up when demanded. The news will no doubt make Travelex bosses feel uncomfortable as their own ransomware saga with the hackers reaches the two-week mark. The foreign exchange company has been tight-lipped on whether it has given into any ransomware demands.

Huawei furore

US officials have warned the UK that intelligence sharing between the two countries could be at risk if we use Huawei technology in our 5G networks. The US delegation has handed the government a secret dossier that it claims contains fresh evidence that the Chinese firm poses a security risk. But MI5 boss Andrew Parker is unruffled, saying the government “will take a decision based on evidence – not unsubstantiated allegations.” Final decision about Huawei coming soon...

No Brexit bongs

Plans for Big Ben to chime at 11pm on the 31st January to mark the end of the UK’s membership of the EU have been dropped (paywall) with costs approaching half a million pounds. The bell is under restoration and hasn’t struck the hour since 2017, except for significant national events, such as Remembrance Sunday and New Year’s Eve.

Stormont deal “falls way short”

The British and Irish prime ministers were in Belfast yesterday to mark a return to power-sharing after a three-year impasse. However, the Irish finance minister Conor Murphy said the proposed deal offers less funding than was promised and isn’t enough to resolve issues with Irish public services.