{"componentChunkName":"component---src-templates-post-js","path":"/were-100-issues-old/","result":{"data":{"ghostPost":{"id":"Ghost__Post__5dfca89ca519b30038b16760","title":"We’re 100 issues old!","slug":"were-100-issues-old","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2019/12/100-edition-1.png","excerpt":"There’s a new governor of the Bank of England: Andrew Bailey has been named as the person to take over from Mark Carney in March.","custom_excerpt":"There’s a new governor of the Bank of England: Andrew Bailey has been named as the person to take over from Mark Carney in March.","created_at_pretty":"20 December, 2019","published_at_pretty":"20 December, 2019","updated_at_pretty":"20 December, 2019","created_at":"2019-12-20T10:55:24.000+00:00","published_at":"2019-12-20T11:53:16.000+00:00","updated_at":"2019-12-20T15:03:08.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Friday 20th December 2019\n\nGet straight to the good stuff every day with the Multiply Minute; a\nlightning-quick round-up of the money news and how it affects you.\n\nAll right guv’ner?\nThere’s a new governor of the Bank of England: Andrew Bailey has been named\n[https://www.bbc.co.uk/news/business-50861129] as the person to take over from\nMark Carney in March. Bailey is currently the chief executive of the Financial\nConduct Authority (FCA), the finance watchdog. As overseer of the UK’s central\nbank, which keeps an eye on the overall state of the economy and manages the\nstability of the financial system, he’s going to have a big job on his hands.\n\nFCA investigates Bank breach\nThat same Bank of England is under investigation\n[https://www.theguardian.com/business/2019/dec/19/hedge-funds-hacked-into-bank-of-england-briefings?CMP=Share_iOSApp_Other] \nby the very same FCA for a security breach revealed yesterday. Awkward. The\nbreach meant some hedge funds got access to an audio feed of the Bank’s press\nconferences (containing vital information that affect financial markets) up to\neight seconds before the rest of the world. The FCA is looking into whether or\nnot the illicit sneak previews count as “inside information”, and whether the\ninvestment managers involved should face personal regulatory action.\n\nDelays on the runway\nThe expansion of Heathrow will be delayed by up to three years\n[https://www.thetimes.co.uk/edition/news/heathrow-extension-plans-delayed-by-up-to-three-years-77cnn8tn2] \n(paywall article) because of worries that spiralling costs would land passengers\nwith soaring fares. The Civil Aviation Authority said there was a risk that\nrising planning costs - from £650 million to £2.8 billion - would be passed on\nto consumers. The watchdog wants the spending to be limited to £1.6 billion,\nwhich will result in the planned 2026 launch being held until 2029.\n\nMonzo savings vanish\nMonzo customers endured a moment of panic\n[https://www.telegraph.co.uk/technology/2019/12/19/monzo-customers-panic-savings-appear-vanish/] \n(paywall article) yesterday when their savings “pots” appeared to vanish from\nthe app. No money went missing; it was just a bug which has reportedly now been\nfixed. Phew.\n\nThanks for reading! \nWe started writing the Multiply Minute months ago thinking you might want a\nquick and easy way to digest the financial news that affects your life and\nmoney. Turns out you did, as out of 100,000 sends you’ve opened this email a\nwhopping 26,000 times. Cheers! We’re really keen to keep making it better, so if\nyou have a second minute going spare today, we’d love to hear your thoughts\n[https://multiplyai.typeform.com/to/TQtH83].\n\nMeet your editors\nAnnie looks after (and is a dab hand at) all the sweet copy you see in our app.\nShe is a theatre aficionado, gives exceptional gifts, and excels at finding the\nbest GIFS. She also knows all the words. All of them. Apart from “dolphin”,\nwhich she once accidentally mispronounced in the office as “dolpin” and has\nnever been allowed to forget it.\n\n\n\nJason is Multiply’s resident content maestro. He spends most of his time either\nwhizzing off on sophisticated European city breaks, or making sparks fly off his\nlaptop keyboard. Two truths and a lie: he has three beautiful cats, he loves to\nmake finance fun through his writing, and he says the word “doughnut” super\nweirdly.","html":"

Friday 20th December 2019

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.

All right guv’ner?

There’s a new governor of the Bank of England: Andrew Bailey has been named as the person to take over from Mark Carney in March. Bailey is currently the chief executive of the Financial Conduct Authority (FCA), the finance watchdog. As overseer of the UK’s central bank, which keeps an eye on the overall state of the economy and manages the stability of the financial system, he’s going to have a big job on his hands.

FCA investigates Bank breach

That same Bank of England is under investigation by the very same FCA for a security breach revealed yesterday. Awkward. The breach meant some hedge funds got access to an audio feed of the Bank’s press conferences (containing vital information that affect financial markets) up to eight seconds before the rest of the world. The FCA is looking into whether or not the illicit sneak previews count as “inside information”, and whether the investment managers involved should face personal regulatory action.

Delays on the runway

The expansion of Heathrow will be delayed by up to three years (paywall article) because of worries that spiralling costs would land passengers with soaring fares. The Civil Aviation Authority said there was a risk that rising planning costs - from £650 million to £2.8 billion - would be passed on to consumers. The watchdog wants the spending to be limited to £1.6 billion, which will result in the planned 2026 launch being held until 2029.

Monzo savings vanish

Monzo customers endured a moment of panic (paywall article) yesterday when their savings “pots” appeared to vanish from the app. No money went missing; it was just a bug which has reportedly now been fixed. Phew.

Thanks for reading!

We started writing the Multiply Minute months ago thinking you might want a quick and easy way to digest the financial news that affects your life and money. Turns out you did, as out of 100,000 sends you’ve opened this email a whopping 26,000 times. Cheers! We’re really keen to keep making it better, so if you have a second minute going spare today, we’d love to hear your thoughts.

Meet your editors

Annie looks after (and is a dab hand at) all the sweet copy you see in our app. She is a theatre aficionado, gives exceptional gifts, and excels at finding the best GIFS. She also knows all the words. All of them. Apart from “dolphin”, which she once accidentally mispronounced in the office as “dolpin” and has never been allowed to forget it.

Jason is Multiply’s resident content maestro. He spends most of his time either whizzing off on sophisticated European city breaks, or making sparks fly off his laptop keyboard. Two truths and a lie: he has three beautiful cats, he loves to make finance fun through his writing, and he says the word “doughnut” super weirdly.

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