Klarna crackdown

The 1-minute read to get the money news you need.

FCA will curb Klarna

Buy-now-pay-later firms will face tighter controls as the Financial Conduct Authority (FCA) steps in to regulate the sector. Last year’s online shopping boom fed a massive rise in schemes like Klarna. But a report by the FCA shows some people are building up unseen debt - and 1 in 10 is already in arrears on other debts. The new regulations will make sure that customers can afford the repayments and are treated fairly.

House prices fall

House prices took a dip in January, for the first time since last summer. Prices fell 0.3% last month according to the index from mortgage lender Halifax. The stamp duty holiday is due to end on 31st March, which means time is running out for buyers to avoid paying stamp duty on the first £500,000 of any home purchase.

Safer online casinos?

Online gambling faces new regulations to make their virtual casinos safer. The Gambling Commission has announced a package of restrictions, including a limit on roulette spin speeds and clear display to show total wins and losses.

“Rethink economic growth”

Countries need to transform their economies if they want to meet their environment commitments, according to a new study backed by the UK government. It urges governments to protect ecosystems, and focus on more than just GDP growth.

Beige gold

Online shops are facing delivery delays due to a shortage of cardboard boxes. 200 million extra parcels were delivered in 2020 - and cardboard providers weren’t ready. The surge in deliveries has led to a global shortage of the pulp that boxes are made from.