-
Revolut reportedly facing $3m ransom demand after hackers steal hundreds of customers’ data
Revolut, Europe’s largest financial technology company, has fallen victim to a sophisticated data breach orchestrated through a compromised Italian government email system. Hackers posing as government officials contacted Revolut staff to obtain personal details of cryptocurrency customers, with attackers subsequently demanding $3 million to prevent publication of the stolen data. The incident raises concerns about…
-
SNP ministers warned public sector savings hard to achieve without compulsory redundancies
An economist has warned the Scottish Government that compulsory redundancies may be necessary to meet its target of reducing the public sector workforce by 0.5 per cent annually through to 2031, which is intended to help address a near-£5 billion budget shortfall anticipated by the end of the decade. This challenges the Scottish Government’s long-standing…
-
After being sidelined, Boeing’s Starliner to get starring role in NASA’s spaceflight plans
NASA will announce plans to order two additional crewed missions on Boeing’s Starliner spacecraft and provide financial support to fix its thruster problems and certify it on a new rocket. This move comes as SpaceX has privately indicated—and is now publicly confirming—its intention to retire its Crew Dragon spacecraft by 2030, leaving NASA without a…
-
Burnham recommits to Net Zero targets despite MPs warning phrase has become ‘toxic’ with voters tired of rising bills
Prime Minister Andy Burnham reaffirmed his commitment to reaching Net Zero by 2050 and announced nearly £30 million in funding for community-led renewable energy projects. His announcement comes despite a cross-party parliamentary committee recommending that the Government abandon the term “Net Zero” as it has become toxic to voters and acts as a lightning rod…
-
Burnham’s talk of ‘breathing space’ at odds with reality of future Bank rate rises
Andy Burnham’s promise of “breathing space” for households is threatened by the prospect of higher Bank of England interest rates. Although the Bank held rates at 3.75%, Governor Andrew Bailey warned that prolonged conflict in the Middle East could force policymakers to tighten monetary policy as rising oil prices drive inflation higher. UK inflation reached…
-
Mark Carney calls for ‘deep cooperation’ between Canada and EU in Strasbourg address
Canadian Prime Minister Mark Carney addressed the European Parliament in Strasbourg to welcome Canada becoming the EU’s first associate member, calling for “deep cooperation” to secure their strategic autonomy. The proposal comes amid heightened trade tensions, as Donald Trump has threatened “very serious tariffs” on Europe if the plan proceeds, though Carney emphasised that Canadians…
-
Swedish PM Kristersson resigns after election loss
Swedish Prime Minister Ulf Kristersson has resigned after his right-wing governing bloc narrowly lost the general election to the centre-left opposition. The result is expected to return Social Democrat leader Magdalena Andersson to power, although forming a government may be difficult because the opposition parties disagree on issues including taxation. Preliminary results indicate the opposition…
-
Albanese government considers ‘world-leading’ ban on smart glasses in public office and buildings
The Albanese government is considering a “world-leading” ban on smart glasses in federal workplaces following growing privacy concerns from councils across Australia, which have already implemented targeted restrictions. Public service minister Katy Gallagher stated the devices raise “legitimate privacy and security concerns” due to their recording capabilities, and the government is seeking advice on whether…
-
Burnham’s devolution drive ‘to spark boom in highly paid local officials’
A TaxPayers’ Alliance analysis claims Andy Burnham’s devolution plans could increase taxpayers’ costs by expanding the number of highly paid regional government officials. It argues that staffing has already grown sharply in areas with directly elected mayors as combined authorities assume more responsibilities, prompting criticism that devolution could create an expensive additional tier of government.…
-
Left-wing leader of Britain’s trade union movement given seat on Bank of England’s board just hours after calling for new tax on banks’ ‘mega profits’
Paul Nowak, General Secretary of the Trades Union Congress, has been appointed as a non-executive director of the Bank of England’s Court of Directors by Chancellor John Healey. The appointment has generated controversy because it was announced on the same day Nowak repeated calls for banks to pay higher taxes on their “mega profits”, raising…