Google and Facebook crackdown

Thursday 19th December

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.

New rules for online giants?

The Competition and Markets Authority (CMA) has recommended that the UK should consider tough rules for big online players like Google and Facebook. It comes from concerns over their monopoly harming competition and that people using these platforms may not be in control of their data.

British Airways descent

The iconic airline has plummeted in UK passengers’ opinions. Their new position puts them just above the worst-ranked airline, Ryanair, according to consumer group Which?. The survey was based on 6,500 readers’ opinions and measured points like food, seat comfort, and value for money for both short and long-haul services.

Accidental early access

An audio feed of the Bank of England’s press conferences went out to hedge funds before official broadcasts. Despite the leak only being between five to eight seconds, it gave an advantage to high-speed traders, like currency speculators who can make millions on tiny market moves. The reason for the error, according to the Bank, was “misuse” of the feed by one of its suppliers.

Queen opens Parliament

Today the new Conservative government sits for the first time to hear theQueen’s speech which will lay out their policy agenda for the next five years. The highlights? New post-Brexit rules for trade, farming, fishing, financial services, and the environment; plans for full fibre broadband coverage across the UK; legislation to ensure decent service during train strikes; and (probably) a 50% business rate discount for small businesses.