More money lessons for kids

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.

Financial nouse for all

A government agency has pledged to improve millions of people’s lives by 2030 by boosting financial know-how, after finding that 11.5 million people in the UK have less than £100 in savings and nine million regularly use credit cards and payday loans for essential spending. The Money and Pensions Service (MaPS) has promised money lessons in schools for an extra two million children, and debt advice for an extra 300,000 adults.

Freelance tax reforms “damaging”?

Top recruiters have warned (paywall) that changes coming in April will damage growth and increase tax avoidance. Known as IR35, it’s meant to stop companies avoiding payroll responsibilities. But recruiters say projects will be cancelled and work moved offshore because companies are unwilling to take on the extra risk.

1,000 new financial offices

By October last year, 1,440 EU companies had applied to open a base in the UK after Brexit. For 1,000 of these, it will be their first in this country. They'll lose the automatic right to operate here from December, but with these permissions they can do business while they apply to the Financial Conduct Authority (FCA).

Wanna work at Facebook?

Good timing, as they are set to create 1,000 new jobs in the UK this year. The move is being seen as a positive reaction towards the UK economy ahead of Brexit. Over half of the new staff will be technology-focused and it'll bring its total UK workforce to 4,000.

Beales bust

One of Britain's oldest department store chains is set to go into administration, with more than 1,000 full-time jobs at risk. Beales, founded in 1881, listed the "disappointing" period of Christmas trading and high high-street rents as the reasons for its closure.