Paddy Power and Betfair to pay £2m settlement after failing to protect users

Paddy Power and Betfair have reached a £2m settlement with the gambling industry regulator over social responsibility failings, including allowing one customer to bet for nearly eight hours solid.The Gambling Commission said the online betting and gaming brands, which are owned by Flutter Entertainment, had fallen “far short” of what was expected during a routine compliance assessment performed in 2024.Systems that were supposed to detect early indicators that gamblers may be experiencing harm and trigger checks on their wellbeing were found to have been insufficiently sensitive, resulting in late intervention.Failings identified by the Gambling Commission included one customer being allowed to stake £86,000 over a 16-day period, during which time they lost £6,000.“Despite the high velocity of spend, no manual review of the account took place,” the regulator said

Warner Bros reportedly poised to reject Paramount’s $108bn hostile takeover bid

Warner Bros Discovery is poised to tell shareholders to reject Paramount’s $108bn (£81bn) hostile bid, according to reports, clearing the way for Netflix to proceed with its buyout of the Hollywood film and TV group.The board could announce a decision as early as Wednesday after Paramount Skydance – run by David Ellison and bankrolled by his billionaire father, Larry, who founded Oracle – went directly to shareholders with its rival offer almost two weeks ago.Netflix had won the auction for the studio and streaming company with an $82.7bn bid a few days earlier – taking control of prize assets including the Harry Potter and DC Comics superhero film franchises, as well as HBO, home to hit shows including Game of Thrones, The White Lotus and Succession.The streaming company’s deal does not cover WBD’s cable channels, which include CNN, TBS and TNT, which are set to be spun off into a separate company next year

Inflation drop makes Bank of England early Christmas present to Reeves almost a certainty

The sharper-than-expected drop in UK inflation to 3.2% last month has eliminated any lingering doubt about whether the Bank of England will deliver an early Christmas present by cutting the nation’s borrowing costs.Bank policymakers announce their December decision at noon on Thursday, and after last month’s five-four split vote were already widely expected to cut the base rate by 0.25 percentage points from its current level of 4%.However, they are likely to be reassured by the significant slowdown in the annual inflation rate, from 3

UK inflation falls sharply to 3.2% amid slowdown in food price rises

UK inflation fell by more than expected in November to the lowest level in eight months amid a slowdown in food prices, clearing the way for the Bank of England to cut interest rates on Thursday.In a crunch week for the economy, the Office for National Statistics said the rate as measured by the consumer prices index eased to 3.2% last month from a reading of 3.6% in October. City economists had forecast a modest drop to 3

Christmas dinner and festive treats up to 70% more expensive, reports Which?

Shoppers are paying up to 70% more for Christmas chocolate treats compared with last year, while the price of a turkey has jumped by as much as £15, according to the consumer champion Which?The group analysed a range of ingredients for a typical Christmas dinner, as well as other typical festive treats including mince pies, sparkling wine and chocolates.Festive chocolate had the steepest mark-up this year. Among the biggest risers was a Lindt Lindor milk chocolate truffles treat box at Asda up 72% to £1.98 compared with £1.15 last year

Rate hikes, rising inflation and difficult decisions: key takeaways from Jim Chalmers’ budget update

Jim Chalmers has claimed “the most responsible mid-year update on record”, unveiling a multibillion-dollar improvement in the budget bottom line alongside extra money for mental health, CSIRO, and training for tradies.Here are the three key takeaways from the mid-year economic and fiscal outlook.As expected, this is a mid-year budget that’s all about the savings. Chalmers warned of “difficult decisions” ahead of today, but there’s no big shock.Instead, the treasurer is making a virtue of small improvements in the bottom line, made harder by some cost blow-outs in areas like disaster relief, which will cost $6