Business & Finance News

FCA to tell lenders to extend payment freeze on car finance and high-cost credit

New and nearly new cars are displayed for sale on a forecourt of a car dealership. (Matt Cardy/Getty Images)
New and nearly new cars are displayed for sale on a forecourt of a car dealership. (Matt Cardy/Getty Images)

The UK’s Financial Conduct Authority (FCA) on Friday indicated that it will tell rent-to-own firms, car finance providers, and pawnbrokers to keep offering payment freezes to borrowers in financial difficulty in the wake of the coronavirus crisis.

Under extended proposals, customers who have yet to request a payment freeze would also have until 31 October to do so, the FCA said.

Under a payment holiday announced in April, the FCA ordered firms to give drivers a three-month freeze on payments if the pandemic had left them in temporary financial difficulty. It told firms not to end agreements or repossess vehicles for such customers.

READ MORE: Quiet end to the week for stocks as US coronavirus numbers in focus

Firms offering rent-to-own, “buy now, pay later” and pawnbroking agreements were also

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To His Own Surprise, Crypto Volume Pumper’s Business Is Still Thriving

Eleven months ago, Alexey Andryunin was sure his business was not long for this world. 

A 22-year-old math student from Moscow, Andryunin built a business inflating trade volumes in little-known crypto tokens issued during the 2017 initial coin offering (ICO) craze. In a head-turning interview CoinDesk published last July, Andryunin candidly described the underworld of micro-cap tokens and exchanges surviving on artificial volumes ginned up by paid “market makers” (a traditional finance term used loosely in this context.)

At the time, Andryunin thought his business was heading to a decline: ICOs were moribund, the token market was shrinking and a new wave of regulatory attention was about to scour the shadier corners of the crypto space. 

Related: BitMEX Owner HDR Appoints Former Bank of China Exec to Board

He now says he was mistaken. Business is growing again as token promoters pay him to pump their projects so they’ll be

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Harris Poll and Yahoo Finance partner for ongoing polling of investors

NEW YORK, June 29, 2020 — The Harris Poll and Yahoo Finance, part of Verizon Media, have formed an exclusive partnership to conduct an ongoing poll of investors, market and consumer trends. The new surveys will enable Yahoo Finance to provide an additional stream of data-based coverage crucial to the over 80 million people who turn to the site every month for financial and business news.

“As market research experts, we understand the link between consumer sentiment and the market performance of brands,” says Will Johnson, CEO of The Harris Poll. “We’re here to help Yahoo Finance readers see that link, so they can be wiser about their investment decisions and achieve their investment goals, whether that’s a secure retirement, the purchase of a home, affording tuition for their children or to launch a new business.”

“Yahoo Finance connects our audience with the best experts, tools and information they need

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Brett Conti left his unfulfilling finance job and started a skateboard empire

When Brett Conti started his internship at a finance firm, he knew almost immediately that this was not the career path he wanted. 

“I didn’t just want to be a robot,” Conti told In The Know. “I wanted to do something much bigger.”

A big part of his life up to that point had been skateboarding, but he did it for fun and had no intention of turning that hobby into a full-time job.

But when he was injured and had to take a break for six months, he turned to another creative passion of his: Clothing. Bored and feeling stuck in his college dorm, he started making pocket t-shirts and hats with his grandmother’s sewing machine.

Conti’s grandfather owned a textile company and Conti grew up learning about different fabrics and the fundamentals of creating clothes. Again, this was another interest of his that he never planned on turning

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