Finance

UK Watchdog Presses Supreme Court for Action in Looming $21 Billion Car Finance Scandal

Britain’s Financial Conduct Authority (FCA) is urging the Supreme Court to fast-track a decision allowing lenders to appeal a pivotal ruling that could set the stage for a multi-billion-pound consumer compensation scheme related to motor finance commissions. 

The FCA also announced plans to consult on extending the timeframe for companies to respond to borrower complaints. This comes after the Court of Appeal's October ruling, which deemed it unlawful for car dealers to receive commissions from banks on motor finance agreements without first securing the customer’s informed consent.

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TECH

Tech Meets Power: How America’s 'Tech Bros' Are Changing the Political Landscape

Looking back, 2016 marked the start of something significant—a shift that’s only now reaching a darker and more intense phase in 2024. 

It began as a subtle tear in the information landscape, a growing awareness that our world—once seemingly stable, grounded in facts and evidence—had developed a fracture in the very fabric of reality. The turmoil that Trump is set to unleash, with its accompanying pain and hardship, is only possible because we already live in a state of information chaos.

It’s been exactly eight years since we became aware of unseen forces shaping our world. Or perhaps I should just speak for myself—it was when I noticed. A week before the 2016 U.S. presidential election, I noticed a strange convergence of events, searched “tech disruption” + “democracy,” found no results, and pitched the idea to my editor.

CRYPTO

Trump’s Victory Drives Crypto Surge: Bitcoin Tops $93,000, Dogecoin Follows

Bitcoin reached a new record high on Wednesday, surpassing $93,000, continuing its surge following Donald Trump’s election victory. Meanwhile, Dogecoin, the meme coin supported by Elon Musk, saw its value rise by as much as 150% since Election Day. The coin’s growth accelerated after Trump announced Musk and Vivek Ramaswamy would lead the newly formed Department of Government Efficiency (Doge), an advisory group focused on government reform.

Bitcoin has increased by more than a third since Trump’s win, with many of his prominent supporters, including Musk, having strong ties to the cryptocurrency industry. These crypto advocates are anticipating significant rewards as Trump’s economic team is expected to include several crypto-friendly appointments, with Howard Lutnick, CEO of Cantor Fitzgerald, seen as a potential ally in this effort.