logo
Arsenal transfer news LIVE: Gunners locked in £67m Gyokeres battle, Gabriel's new deal, Sesko's HUGE price tag

Arsenal transfer news LIVE: Gunners locked in £67m Gyokeres battle, Gabriel's new deal, Sesko's HUGE price tag

The Sun30-05-2025

Two for the price of one
Former Liverpool and Real Madrid striker Fernando Morientes has told CasinoHawks, who offer the latest online casinos, that Arsenal need to sign ex-Newcastle forward Ayoze Perez.
He said: 'If Arsenal want a striker from LaLiga, a Spaniard who comes to mind right now is Perez.
'He left Betis for Villarreal, and he's become desirable for the big teams because he's scored a lot of goals and is playing very well.
'Another name is Alexander Sorloth, at the start of the season I thought he was going to be one of the most important strikers in our league,
'If you dig a little deeper into the search for players who are starting to emerge they're cheaper, so you have to make that decision.
'Emerging players are cheaper, but you need players that can instantly perform in the Premier League.'

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Post Office compensation chief steps down after Sir Alan Bates raised 'serious concerns' about schemes
Post Office compensation chief steps down after Sir Alan Bates raised 'serious concerns' about schemes

Daily Mail​

timean hour ago

  • Daily Mail​

Post Office compensation chief steps down after Sir Alan Bates raised 'serious concerns' about schemes

A Post Office boss who backed compensation for Horizon IT scandal victims has left his position as Sir Alan Bates raised 'serious concerns' about schemes. Leader of the Post Office's Remediation Unit, Simon Recaldin, is believed to have opted for voluntary redundancy and left his post this week. It comes as the first part of a public inquiry report into the controversy, analysing the compensation process as well as the affect on victims, is anticipated to be released in the coming weeks. More than 900 sub-postmasters were prosecuted between 1999 and 2015 after faulty accounting software made it look as though money was missing from their accounts. Hundreds are still waiting for payouts despite the previous government announcing that those who have had convictions quashed are eligible for £600,000. A Post Office spokesperson said yesterday Mr Recaldin's departure was a part of an 'organisational design exercise' across the firm. Now Joanne Hanley, who was previously a managing director and global head of client servicing, data and operations for Lloyds', is understood to have taken up a large portion of the former Post Office chief, according to The Telegraph. It comes as Post Office hero Sir Alan Bates accused the government of running a 'quasi kangaroo court' payout system for the scandal's victims last month. More recently, Sir Alan said he would prefer to see the compensation schemes thrown out rather the people working on them. 'We have got serious concerns about the transparency and the parity across the schemes,' he told The Telegraph. Last November, Mr Recaldin giving evidence to the inquiry, apologised after it was unearthed staff who were managing compensation claims had also been embroiled in prosecutions relating to the scandal. When queried about ex Post Office investigators he said: 'So my regret – and it is a genuine regret – is that when I came in, in January 2022, that I didn't do that conflicts check, check back on my inherited team, and challenge that.' It comes as the Sir Alan, who famously won his High Court battle with the Post Office in 2019 revealed that he had been handed a 'take it or leave it' compensation offer of less than half his original claim. Mr Bates, 70, said the first offer, made in January last year, was just one sixth of what he was asking for, adding that it rose to a third in the second offer. He has now been given a 'final take it or leave it offer' - which he said amounts to 49.2 per cent of his original claim. He, alongside 500 other sub-postmasters, will now have to lodge their bid for compensation via the Group Litigation order, managed by the Government. Bates, who led the sub-postmasters' campaign for justice, attacked the government for reneging on assurances given when the compensation schemes were set up The Post Office currently manages the Horizon Shortfall Scheme, which is seperate to the aforementioned. This scheme was organised for victims who have not been compensated but believe they experienced financial loses due to the IT scandal. A Post Office spokesman said: 'As part of the Post Office's commitment to deliver a 'new deal for postmasters', we have undertaken a review of our operating model to ensure we have the right structure in place. 'We have been in consultation with a number of colleagues from across the business, including the Remediation Unit. As a result of this Post Office-wide organisational design exercise, Simon Recaldin has left the business.'

Preparing for BNPL regulation: What firms need to do now: By Ben O'Brien
Preparing for BNPL regulation: What firms need to do now: By Ben O'Brien

Finextra

timean hour ago

  • Finextra

Preparing for BNPL regulation: What firms need to do now: By Ben O'Brien

The arrival of formal regulation for Buy Now, Pay Later (BNPL) products is no longer a question of if, but when. With the Treasury's May 2025 consultation response, the direction is this: by mid-2026, third-party BNPL lenders will fall within the scope of the Financial Conduct Authority (FCA). This change brings with it a full set of regulatory requirements—covering affordability, creditworthiness, redress, disclosures, and governance. While many firms are familiar with the general framework, the pace and detail of implementation demand serious attention. Risk leaders now face a critical window to build a strategy that aligns commercial goals with regulatory readiness. Scope of the new BNPL regime From mid-2026, third-party BNPL providers must be authorised by the FCA and comply with its rules on affordability, creditworthiness, consumer duty, complaints, disclosures, and more: Mandatory, proportionate affordability and creditworthiness checks Firms must demonstrate verifiable checks at the point of decisioning, aligned to individual circumstances, not just product type. Firms must demonstrate verifiable checks at the point of decisioning, aligned to individual circumstances, not just product type. Access to the Financial Ombudsman Service (FOS) BNPL customers can now escalate complaints to FOS, increasing the importance of auditable redress processes and timely resolution. BNPL customers can now escalate complaints to FOS, increasing the importance of auditable redress processes and timely resolution. Tailored disclosure requirements for digital-first products The FCA will introduce a bespoke regime focused on real-world comprehension — not just information delivery. Firms will need to test and evidence understanding. The FCA will introduce a bespoke regime focused on real-world comprehension — not just information delivery. Firms will need to test and evidence understanding. Extension of Section 75 protections to BNPL agreements Providers will be jointly liable for qualifying claims, requiring clear merchant oversight, governance controls, and capital planning to manage new exposure. While third-party BNPL is the initial focus, merchant-offered BNPL products remain outside the perimeter for now. This exemption, based on Article 60F(2) of the Regulated Activities Order, is under review and could be revisited if scale or harm increases. What this means for compliance and risk leaders The FCA isn't looking for surface-level compliance. It expects firms to demonstrate that processes are working and that consumers are genuinely protected. Affordability frameworks must evolve Checks must be proportionate and verifiable, with models recalibrated to reflect customer circumstances. Even low-value lending must evidence the potential for harm reduction. Complaint handling will need to be FOS-ready This includes robust audit trails, clear redress pathways, MI reporting on themes, and training on FOS processes. Joint liability introduces new exposure Providers must enhance governance around merchant partnerships, define liability clearly in contracts, and plan for potential claims in their capital models. Joined-up governance is essential Effective programmes will require close collaboration across credit, compliance, legal, product, and ops teams—with clear ownership under SM&CR. Disclosures must reflect real-world understanding It's not just about format. The FCA expects firms to test, monitor, and evidence comprehension—particularly for vulnerable customers. Making best use of the Temporary Permissions Regime The FCA will launch a Temporary Permissions Regime (TPR) to support the transition. Providers must be ready to act quickly when the window opens. Prepare for registration Ensure that internal records, model documentation, and business models are clearly aligned with regulatory expectations. Conduct a readiness assessment Review decisioning processes, affordability checks, complaints management, and financial crime controls. Plan for dual-track execution Meet TPR requirements while simultaneously building toward full authorisation. Engage early with the FCA Establish open communication lines to reduce ambiguity and show proactivity. Plan for contingencies Prepare wind-down plans, customer messaging, and backup procedures in case of registration delays or rejections. Innovation and consumer protection can coexist The decision to exclude some legacy Consumer Credit Act requirements reflects the unique nature of BNPL: short-term, interest-free, and often accessed via digital channels. This creates space for a more relevant, user-centric approach to disclosures but it also raises the bar. Risk and compliance teams should work with product, legal, and design leads to ensure communications are: Integrated into real customer journeys Mobile-friendly and accessible Prompted by user behaviour Supported by outcome-based testing and complaints data Those who treat disclosures as a compliance task may struggle. Those who invest in relevance and usability will have stronger customer engagement and defensibility. Merchant carve-out and the risk of market distortion The decision to exclude merchant-led BNPL from the regulatory scope has sparked debate. Without oversight, merchant-offered credit could create competitive asymmetry and raise consumer protection concerns. Risk leaders should: Monitor merchant product developments and prepare for potential perimeter expansion Review all third-party merchant partnerships for regulatory dependencies Revisit financial promotions and credit broking arrangements, particularly where merchants promote BNPL products without broking permissions Regulatory costs and anticipated market impact The Treasury's impact assessment estimates: An Equivalent Annual Net Direct Cost to Business (EANDCB) of £2.3 million A Net Present Value of -£20.1 million over the assessment period over the assessment period Authorisation application fees: £5,000 to £25,000 Annual supervision fees: £10,000 to £50,000 Technology upgrades: £500,000 to £2 million per provider for systems supporting affordability, reporting, and complaints per provider for systems supporting affordability, reporting, and complaints Section 75 exposure: Estimated at 0.5% to 1.2% of transaction values With the UK's BNPL market valued at £20 billion annually, sector-wide exposure to Section 75 alone could exceed £100 million. Consolidation is expected. Government modelling suggests 20–30% of providers may exit the market post-regulation. But with global BNPL volumes growing rapidly, those who remain stand to benefit from a stronger, more trusted marketplace. How leading firms are responding Some providers have already started adjusting: Klarna Following regulatory scrutiny in Sweden, Klarna UK introduced income verification, real-time spend tracking, and risk-based onboarding. Monzo Flex Built affordability into product design from the outset, with integrated credit reporting and real-time tracking. PayPal Adopted a cross-functional compliance strategy with specialist teams, training, and documentation of governance processes. The clock is ticking and the gap between those who prepare and those who delay will widen fast. For risk leaders, this is a chance to go beyond baseline compliance, strengthening frameworks, improving customer outcomes, and shaping the future of BNPL in a regulated environment.

Government struggles to cut foreign aid spent on asylum hotels
Government struggles to cut foreign aid spent on asylum hotels

BBC News

time2 hours ago

  • BBC News

Government struggles to cut foreign aid spent on asylum hotels

The government is struggling to cut the amount of foreign aid it spends on hotel bills for asylum seekers in the UK, the BBC has figures released quietly by ministers in recent days show the Home Office plans to spend £2.2bn of overseas development assistance (ODA) this financial year - that is only marginally less than the £2.3bn it spent in 2024/ money is largely used to cover the accommodation costs of thousands of asylum seekers who have recently arrived in the Home Office said it was committed to ending asylum hotels and was speeding up asylum decisions to save taxpayers' money. The figures were published on the Home Office website with no accompanying notification to aid is supposed to be spent alleviating poverty by providing humanitarian and development assistance under international rules, governments can spend some of their foreign aid budgets at home to support asylum seekers during the first year after their to the most recent Home Office figures, there are about 32,000 asylum seekers in hotels in the promised in its manifesto to "end asylum hotels, saving the taxpayer billions of pounds". Contracts signed by the Conservative government in 2019 were expected to see £4.5bn of public cash paid to three companies to accommodate asylum seekers over a 10-year a report by spending watchdog the National Audit Office (NAO) in May said that number was expected to be £15.3bn. On June 3, Home Secretary Yvette Cooper told the Home Affairs Committee she was "concerned about the level of money" being spent on asylum seekers' accommodation and added: "We need to end asylum hotels altogether."The Home Office said it was trying to bear down on the numbers by reducing the time asylum seekers can appeal against decisions. It is also planning to introduce tighter financial eligibility checks to ensure only those without means are Whitehall officials and international charities have said the Home Office has no incentive to reduce ODA spending because the money does not come out of its scale of government aid spending on asylum hotels has meant huge cuts in UK support for humanitarian and development priorities across the cuts have been exacerbated by the government's reductions to the overall ODA budget. In February, Sir Keir Starmer said he would cut aid spending from 0.5% of gross national income to 0.3% by 2027 - a fall in absolute terms of about £14bn to some £ was the scale of aid spending on asylum hotels in recent years that the previous Conservative government gave the Foreign Office an extra £2bn to shore up its humanitarian commitments overseas. But Labour has refused to match that commitment. 'Poor value for money' Gideon Rabinowitz, director of policy at the Bond network of development organisations, said: "Cutting the UK aid budget while using it to prop up Home Office costs is a reckless repeat of decisions taken by the previous Conservative government. "Diverting £2.2bn of UK aid to cover asylum accommodation in the UK is unsustainable, poor value for money, and comes at the expense of vital development and humanitarian programmes tackling the root causes of poverty, conflict and displacement. "It is essential that we support refugees and asylum seekers in the UK, but the government should not be robbing Peter to pay Paul."Sarah Champion, chair of the International Development Committee, said the government was introducing "savage cuts" to its ODA spending, risking the UK's development priorities and international reputation, while "Home Office raids on the aid budget" had barely reduced."Aid is meant to help the poorest and most vulnerable across the world: to alleviate poverty, improve life chances and reduce the risk of conflict," she said. "Allowing the Home Office to spend it in the UK makes this task even harder.""The government must get a grip on spending aid in the UK," she said. "The Spending Review needs to finally draw a line under this perverse use of taxpayer money designed to keep everyone safe and prosperous in their own homes, not funding inappropriate, expensive accommodation here." Shadow home secretary Chris Philp said: "Labour promised in their manifesto to end the use of asylum hotels for illegal immigrants. But the truth is there are now thousands more illegal migrants being housed in hotels under Labour. "Now these documents reveal that Labour are using foreign aid to pay for asylum hotel accommodation – yet another promise broken."A Home Office spokesperson said: "We inherited an asylum system under exceptional pressure, and continue to take action, restoring order, and reduce costs. This will ultimately reduce the amount of Official Development Assistance spent to support asylum seekers and refugees in the UK."We are immediately speeding up decisions and increasing returns so that we can end the use of hotels and save the taxpayer £4bn by 2026."

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store