Ministers urged to close £2bn tax loophole in car finance scandal

Ministers are being urged to close a loophole that will allow UK banks and specialist lenders to avoid paying £2bn in tax on their payouts to motor finance scandal victims.Under the current law, any operation that is not a bank can deduct compensation payments from their profits before calculating their corporation tax, reducing their bill.UK banks have been blocked from claiming this relief since 2015, but it has now emerged that those due to pay redress as part of the pending £11bn car loan compensation scheme can exploit it because their motor finance arms are considered “non-bank entities”.The Guardian has learned this includes the operations of big high street names including Barclays and Santander UK, and Lloyds Banking Group, which is the UK’s biggest provider of car loans through its Black Horse division.Specialist lenders in the scandal, which include the lending arms of car manufacturers such as Honda and Ford, also fall outside this taxation rule

Cloudflare admits ‘we have let the Internet down again’ after outage hits major web services – as it happened

Technical problems at internet infrastructure provider Cloudflare today have taken a host of websites offline this morning.Cloudflare said shortly after 9am UK time that it “is investigating issues with Cloudflare Dashboard and related APIs [application programming interfaces – used when apps exchange data with each other].Cloudflare has also reported it has implemented a potential fix to the issue and is monitoring the results.But the outage has affected a number of websites and platforms, with reports of problems accessing LinkedIn, X, Canva – and even the DownDetector site used to monitor online service issues.Last month, an outage at Cloudflare made many websites inaccessible for about three hours

Artificial intelligence research has a slop problem, academics say: ‘It’s a mess’

A single person claims to have authored 113 academic papers on artificial intelligence this year, 89 of which will be presented this week at one of the world’s leading conference on AI and machine learning, which has raised questions among computer scientists about the state of AI research.The author, Kevin Zhu, recently finished a bachelor’s degree in computer science at the University of California, Berkeley, and now runs Algoverse, an AI research and mentoring company for high schoolers – many of whom are his co-authors on the papers. Zhu himself graduated from high school in 2018.Papers he has put out in the past two years cover subjects like using AI to locate nomadic pastoralists in sub-Saharan Africa, to evaluate skin lesions, and to translate Indonesian dialects. On his LinkedIn, he touts publishing “100+ top conference papers in the past year”, which have been “cited by OpenAI, Microsoft, Google, Stanford, MIT, Oxford and more”

Cloudflare apologises after latest outage takes down LinkedIn and Zoom

Cloudflare has apologised after an outage on Friday morning hit websites including LinkedIn, Zoom and Downdetector, the company’s second outage in less than a month.“Any outage of our systems is unacceptable, and we know we have let the internet down again,” it said in a blogpost, adding that it would release more information next week on how it aims to prevent these failures.The outage on Friday came after Cloudflare adjusted its firewall to protect customers from a widespread software vulnerability revealed earlier this week, and was not an attack, it said. Earlier, it said a separate issue had been reported with its application programming interfaces.The issue, which affected 28% of its traffic, lasted for half an hour and was resolved shortly after 9am GMT, it said

Il Etait Temps shows his time is now with stunning display in Tingle Creek

A group of racegoers in high pre-Christmas spirits were singing: “We love you, Jonbon, we do,” on the path across the track, but the punters had not one, but two new favourites to celebrate by the end of Saturday afternoon as the odds-on shots Il Etait Temps and Lulamba delivered impressive victories in the card’s two Grade One events.Both horses are now close to the top of the betting for their respective targets at next year’s Cheltenham festival, and Jonbon’s supporters can at least reflect that his bid to become only the second three-time winner of the Tingle Creek in its 56-year history was derailed by an exceptional rival.A posse of top-class two-milers attacking the long line of fences on Sandown’s back straight is one of the great spectacles in jumping, and the three market leaders in Saturday’s race – Jonbon, Il Etait Temps and Dan Skelton’s L’Eau Du Sud, who had beaten Jonbon by 18 lengths at Cheltenham last time – were foot-perfect throughout.As Jonbon led them out of the back and towards the Pond fence, however, Il Etait Temps was clearly travelling best and when Paul Townend sent him to the front after jumping the second-last, the race was in effect over.Willie Mullins, Il Etait Temps’ trainer, had started the day without a single winner to his name in Britain this season, but the £100,000 first prize here was a reminder that Dan Skelton’s big lead in the title race could yet come under threat when Mullins’s huge team arrives for the spring festivals at Cheltenham and Aintree

F1 Abu Dhabi Grand Prix: Verstappen takes pole in qualifying for the season finale – as it happened

Max Verstappen claimed pole position for the Abu Dhabi Grand Prix, a vital first step in attempting to clinch the world championship in the decisive season-finale at Yas Marina.His title rivals – McLaren’s Lando Norris and Oscar Piastri – took second and third in a competitive and tense qualifying session, with the protagonists in three-way title fight duking it out for the top spots on the grid.Norris still holds the advantage as they enter the final rubber. Leading the championship, he is 12 points in front of Verstappen and 16 clear of Piastri. Norris will claim his debut F1 title and become the 11th British driver to do so if he finishes in front of both his rivals or claims third place or better