World News

Pension scams: DWP deny issue as LBC launch their ‘Consumer Hour Scam Awareness Campaign’

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Pension scams were addressed by the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) recently, as it was revealed in August that more than £30million had been lost to pension scams since 2017. According to their analysis, individual losses ranges from less than £1,000 to as much as £500,000.

Additionally, the National Audit Office and other organisations have found the pandemic has created an environment for fraudsters to take advantage of coronavirus fears and target savers.

With these worrying findings emerging, Angela Eagle, a Labour MP for Wallasey, found it prudent to ask the Secretary of State for Work and Pensions, what assessment her department has made of trends in the number of pension scams during the COVID-19 outbreak.

In response to the query, Guy Opperman, the Parliamentary Under-Secretary for the DWP, had the following to say: “DWP is working across government and with regulators to monitor and respond to any increases in transfers or pension scams.

“To date, this monitoring has revealed little evidence to demonstrate an increase in either transfers or scams across the industry as a whole as confirmed by the independent regulator.

“This has been confirmed by responses from industry. The Government will continue to monitor and respond to any emerging evidence.

“The Government established Project Bloom, a cross-government taskforce that brings together law enforcement, government and industry to share intelligence, raise awareness of and the reporting of scams through public communication campaigns, and take enforcement action where appropriate.”

He went on to provide evidence for his assertion: “The Government continues to work with Regulators and enforcement agencies to prevent scams and take appropriate action.

“In the period March – July 2020, 116 reports of possible pension fraud were received by Action Fraud, compared to 179 for the same period in 2019.”

State pension warning: Starting amounts may be lowered [WARNING]
Martin Lewis on the ‘complicated’ state pension inheritance rules [EXPERT]
Martin Lewis breaks down ‘important’ pension tax rules

While it remains to be seen if the government’s efforts will curtail pension scam issues, steps have been taken elsewhere to protect consumers in the run up to Christmas, a period where transactions typically rise and as such, so do risks.

On October 23, LBC launched: “The LBC Consumer Hour Scam Awareness Campaign” in an effort to raise awareness of the most common scams doing the rounds in the run up to Christmas.

Dean Dunham, the Host of LBC’c Consumer Hour, had the following to say: “We need to do more to stop innocent people, often the vulnerable, falling victims to scams. Leading up to Christmas tens of thousands of people will be caught out by a scam and lose their hard-earned money.

“If we can forewarn people about as many scams as possible, we will reduce the number of victims.”

The campaign will focus on three main areas:

  • To raise awareness about as many scams as possible, in the hope that it will help consumers to avoid these scams
  • To provide useful advice and tips on how to spot a scam
  • To provide useful advice on how to get money back if a person is scammed

The campaign will run up to Christmas on LBC and the station is calling on those that have fallen victim of a scam, or know someone that has been a victim, to get in touch with their story which can be shared to make others aware.

To get in contact with LBC, people can contact the organisation by going to

Additionally, they get in touch by tweeting @deandunham or by calling Dean between 9-10pm on Fridays during the LBC Consumer Hour on 0345 60 60 973, or by texting 84850.

Dean concluded the launch with the following comments: “One victim of a scam is too many, but if this campaign helps to save at least one person from losing their money to a scam, it will be a huge success”.

“People need to let others know about scams and this campaign is the best and most visible way of doing this. Together, we can make a real difference”

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World News

Jurassic Park Ford Explorer for sale has a scary surprise: see the pics

Fox News Autos Test Drive: 2020 Ford Explorer ST

Ford doesn’t make four-door sports cars anymore so it’s powering up its SUVs, reports Fox News Autos Editor Gary Gastelu.

The Mustang may be Ford’s most famous movie car thanks to “Bullitt” and “Gone in 60 Seconds,” but the Explorer has it beat at the box office.

An authentic Explorer used to film Jurassic Park was featured in the "Hollywood Dream Machines: Vehicles Of Science Fiction And Fantasy" exhibit at the Petersen Automotive Museum.

The first-generation of the SUV played a supporting role in the 1993 blockbuster “Jurassic Park” as an automated tour vehicle that met a tragic end courtesy of T. rex and many custom tribute vehicles have been built by fans over the years.

One that was just completed in 2019 and currently up for auction on Bring a Trailer is a near picture-perfect replica of the movie truck that has a scary surprise.

(Bring A Trailer)

It features a vinyl wrap with the park’s paint scheme and logo, front and rear brush guards and yellow wheels. The one thing missing is the movie Explorer’s Plexiglas sightseeing roof, but it may have something better.

(Bring A Trailer)

Inside, the entire headliner has been replaced with a graphic of the T. rex about to tear into the transparent roof. Talk about a driving distraction.


(Bring A Trailer)

The costumed Explorer was recently serviced and shows just 56K on its odometer, but Bring A Trailer says it was likely rolled past 100K at least once. It is being offered without reserve with bids accepted through Oct. 30.


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What the election could mean for hot healthcare startups

Welcome to Business Insider's daily healthcare newsletter, your daily dose of pharma, biotech, and healthcare news. Subscribe here to get this newsletter in your inbox every weekday.


Today's a big earnings day for some of the major drugmakers in the COVID-19 vaccine and treatment race including Pfizer, Merck, and Eli Lilly. (No, we don't yet have data on Pfizer's late-stage COVID-19 vaccine trial.)

Meanwhile late on Monday, the Senate confirmed Amy Coney Barrett to the Supreme Court. Kimberly Leonard has the story on what adding a conservative judge could mean for Roe v. Wade, and the 16 abortion case that are making their way up to the high court right now.

Also today: We asked 14 top digital health leaders what the election will mean for the industry, 6 mental health startups that raised the most cash in the third quarter, and potentially diverging approval standards between Europe and the US.

5 ways the election could upend digital health, according to 14 healthcare CEOs, investors, and policy experts

  • The 2020 presidential election could determine the future of digital health, healthcare investors and CEOs told Business Insider.
  • The pandemic contributed to the quick adoption of digital health services like telehealth and digital therapeutics, but it's not clear how permanent their success can be without lasting policy.
  • The biggest concerns experts had were over whether the ACA would remain intact, and what a surge of uninsured Americans could mean for the cost structures that digital health groups rely on.

Read the full story from Megan Hernbroth and Blake Dodge here>>

Here are the 6 mental health startups raising the most cash as the pandemic overwhelms workers and companies

  • Mental health startups closed a record 68 funding deals in the third quarter of 2020, according to a new report from CB Insights.
  • Investors have remained interested in funding mental health startups since the onset of the coronavirus pandemic as companies had to quickly adjust to accommodate remote work and the complications that came with it.
  • Six startups raised the most in the third quarter, and many specialized in providing benefits for employers to offer employees.

Read the full story from Megan Hernbroth here>>

A clinical trial volunteer participates in Johnson & Johnson's study to test a coronavirus vaccine candidateJanssen

The EU's drug regulator would reportedly approve a COVID-19 vaccine even if it worked in less than 50% of people — a lower threshold than the FDA

  • The European Union's drug regulator would approve a COVID-19 vaccine even if it worked in less than half of people, the Wall Street Journal reported.
  • In comparison, the US's drug regulator, the Food and Drug Administration (FDA), expects a vaccine efficacy rate of at least 50%.
  • The news suggests that the European Medicine Agency and the FDA could disagree on which vaccines to approve.

Read the full story from Kate Duffy here>>

More stories we're reading:

  • Health startup AccuRx exploded during COVID-19 as doctors flocked to its free software – but new fees mean officials could soon pull the plug (Business Insider)
  • A General Catalyst-backed blank-check firm is looking to go public (Reuters)
  • Verily's COVID-19 testing program has been stopped in San Francisco and Alameda counties (Kaiser Health News) 
  • WATCH: Why bats can fight off so many viruses (Business Insider)
  • At age 27, I found out I have a 44% chance of developing breast cancer. Here's how I'm dealing with the specter of a diagnosis. (Insider)


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Home prices in August see biggest gains in more than two years, S&P Case Shiller says

  • Strong demand and very limited supply of homes have caused home price gains to accelerate dramatically.
  • The 10-City Composite posted a 4.7% gain, up from 3.5% in the previous month. The 20-City Composite rose 5.2% year-over-year, up from 4.1% in July.
  • All 19 cities for which data was reported rose monthly and annually, with all 19 seeing larger annual gains than in July.

Strong demand and very limited supply of homes have caused home price gains to accelerate dramatically. Prices beat expectations, rising 5.7% annually in August, up from 4.8% in July, according to the S&P CoreLogic Case-Shiller National Home Price Index.

The 10-City Composite posted a 4.7% gain, up from 3.5% in the previous month. The 20-City Composite rose 5.2% year-over-year, up from 4.1% in July. Detroit was not included in the findings, due to insufficient data reporting. All 19 cities for which data was reported rose monthly and annually, with all 19 seeing larger annual gains than in July.

"A trend of accelerating increases in the National Composite Index began in August 2019 but was interrupted in May and June, as Covid-related restrictions produced modestly-decelerating price gains," said Craig Lazzara, managing director and global head of Index Investment Strategy at S&P Dow Jones Indices.

"The last time that the National Composite matched August's 5.7% growth rate was 25 months ago, in July 2018. If future reports continue in this vein, we may soon be able to conclude that the Covid-related deceleration is behind us. "

Phoenix, Seattle and San Diego reported the highest annual gains among the 19 cities (excluding Detroit) in August. Phoenix led the way with a 9.9% price increase, followed by Seattle with an 8.5% increase and San Diego with a 7.6% increase.

Chicago, New York City and San Francisco saw the smallest annual home price gains in August.

S&P Case-Shiller is a repeat sales index, running on a three-month average; it measures the sale prices of similar homes over time. Other home price indexes, like the measure from the National Association of Realtors, show much higher price gains because they calculate the median price of all homes sold during the month.

Since there is currently much more sales activity on the higher end of the market, where there is more supply available, that is skewing the median price much higher. The Realtors reported a 15% annual price gain for September.

Prices are being fueled not just by strong demand but by record low mortgage rates. Rates set several new records over the summer and continued to do so in September as well. Low mortgage rates give buyers more purchasing power, allowing sellers to raise prices.

"Weekly home price data shows that sellers continue to be in the driver's seat as asking prices maintain records. This has kept the median home price stuck near summer's peak even as snow begins to fall in some markets," said Danielle Hale, chief economist for "Looking forward, we expect continued price growth in the months ahead as demand holds steady with mortgage rates below 3%."

The median sale price for newly built homes rose 3.5% in September annually, according to the U.S. Census. Builders are struggling with higher prices for land, labor and materials, and are therefore unable to build as many entry-level homes as they might like. Buyer demand is strongest at the low end of the market, but supply is leanest.

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U.S. New Home Sales Unexpectedly Tumble 3.5% In September

New home sales in the U.S. unexpectedly showed a sharp decrease in the month of September, according to a report released by the Commerce Department on Monday.

The report said new home sales tumbled by 3.5 percent to an annual rate of 959,000 in September after jumping by 3 percent to a revised rate of 994,000 in August. The pullback surprised economists, who had expected new home sales to surge up by 2.8 percent.

“We expect the pace of sales to moderate further in the fourth quarter,” said Nancy Vanden Houten, Lead U.S. Economist at Oxford Economics.

She added, “While strong demand and low mortgage rates are supportive of home sales, the resurgence in Covid-19 cases, a recovery that may be shifting into reverse and a weak labor market pose downside risks.”

The unexpected pullback in new home sales was partly due to a steep drop in sales in the Northeast, which plunged by 28.9 percent to a rate of 32,000.

New home sales in the Midwest and South also slumped by 4.1 percent and 4.7 percent, respectively, while new home sales in the West spiked by 3.8 percent.

The Commerce Department also said the median sales price of new houses sold in September was $326,800, up 1.4 percent from $322,400 in August and up 3.5 percent from $315,700 in the same month a year ago.

The estimate of new houses for sale at the end of September was 284,000, representing a supply of 3.6 months at the current sales rate.

Last Thursday, the National Association of Realtors released a report showing a much bigger than expected spike in U.S. existing home sales in the month of September.

NAR said existing home sales soared by 9.4 percent to an annual rate of 6.54 million in September after jumping by 2 percent to a revised rate of 5.98 million in August.

Economists had expected existing home sales to surge up by 5.0 percent to a rate of 6.30 million from the 6.00 million originally reported for the previous month.

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World News

AMD to buy chip peer Xilinx for $35 billion in data center push

  • Semiconductor designer Advanced Micro Devices on Tuesday said it has agreed to buy Xilinx in a $35 billion all-stock deal.
  • The acquisition will intensify AMD's battle with Intel in the data center chip market.
  • The two U.S. firms have benefited from a more nimble approach to grab market share from Intel, which has struggled with internal manufacturing.

Semiconductor designer Advanced Micro Devices on Tuesday said it has agreed to buy Xilinx in a $35 billion all-stock deal that will intensify its battle with Intel in the data center chip market.

The deal, which AMD expects to close at the end of 2021, would create a combined firm with 13,000 engineers and a completely outsourced manufacturing strategy that relies heavily on Taiwan Semiconductor Manufacturing. The two U.S. firms have benefited from a more nimble approach to grab market share from Intel, which has struggled with internal manufacturing.

AMD has long been Intel's chief rival for central processor units (CPUs) in the personal computer business. Since Chief Executive Lisa Su took over AMD in 2014, she has focused on challenging Intel in the fast-growing business of data centers that power internet-based applications and services and are fuelling the rise of artificial intelligence and fifth-generation telecommunications networks.

Xilinx has also been working to penetrate data centers with programmable processors that help speed up specialized tasks such as compressing videos or providing digital encryption. Its primary rival in the area, Altera, was scooped up by Intel for $16.7 billion in 2015 in what was then Intel's largest-ever deal.

"There are some areas where we're very strong, and we will be able to accelerate some of the adoption of the Xilinx product family," Su told Reuters in an interview. "And there are some areas where (Xilinx CEO) Victor (Peng) is very strong, and we believe that we'll be able to accelerate some of the AMD products into those markets."

The tie-up comes at a time when Intel's manufacturing technology has fallen years behind TSMC's. AMD, which spun off its factories nearly a decade ago, has rocketed ahead of Intel with chips that perform better. The performance edge helped AMD gain its best market share since 2013 at slightly less than 20% of the CPU market, which has in turn pushed its shares up 68% between the start of the year and the close of trade on Oct. 26.

Xilinx also uses TSMC's factories, called "fabs" in the industry, to make its chips, with both U.S. companies using modular designs that let them swap out different pieces of a chip to avoid bottlenecks or delays.

"We ended up with TSMC, and have stayed with them, not due to any contractual reason — we could go to any fab at any time — but because they are best-in-class," Peng told Reuters in an interview. "It's about the choices you make."

Under the deal, Xilinx shareholders will receive about 1.7 shares of AMD common stock for each share of Xilinx common stock, valuing Xilinx at $143 per share, or about 24.8% higher than its $114.55 closing price on Oct. 26. AMD shareholders will own about 74% of the combined firm, with Xilinx shareholders owning the remaining 26%. The companies said the transaction was intended to be a tax-free reorganization for U.S. federal income tax purposes.

AMD's Su will lead the combined company as chief executive, with Xilinx's Peng serving as president responsible for the Xilinx business and strategic growth initiatives. The companies expect the deal to generate $300 million in cost savings.

AMD also reported earnings on Tuesday earlier than scheduled. It reported revenue and adjusted earnings of $2.80 billion and 41 cents per share, beating Wall Street expectations of $2.57 billion and 36 cents per share, showed IBES data from Refinitiv.

Bernstein analyst Stacy Rasgon said there is a danger that a major acquisition in an adjacent chip market could distract AMD's leadership while Intel fights to regain market share.

"The worry would be, AMD has this great self-grown story of their own, which is just starting to play out. Why are you doing this now? Is it just opportunistic? Does it distract from the current story?" he said.

Xilinx's Peng, however, said meetings between the two companies have already revealed they have very similar methods for designing chips.

"I'll be honest, I don't think it's really as challenging as some other combinations," he said. "I had one of my leadership teams who was not familiar with AMD say to me after a meeting, 'Boy, they're just like us.'"

AMD forecast fourth-quarter sales above estimates

Separately, AMD forecast fourth-quarter revenue above Wall Street expectations after the semiconductor designer announced the deal to buy Xilinx.

AMD expects current-quarter revenue to be about $3 billion, plus or minus $100 million, compared with analysts' average estimate of $2.63 billion, according to IBES data from Refinitiv.

Total revenue jumped 56% to $2.80 billion in the third quarter ended Sept. 26, above analysts' expectations of $2.57 billion.

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10 things you need to know before the opening bell

Thomson Reuters

Welcome to 10 Things Before the Opening Bell. Sign up here to get this email in your inbox every morning.

Here’s what you need to know before markets open.

1. HSBC shares jump 5% after Europe’s biggest bank reports slimmer credit losses. The bank reported a drop in revenue in the third quarter, but was upbeat about the prospect of paying dividends. 

2. Airbnb has approved a 2-for-1 private stock split to attract retail investors at its IPO in December. The company’s share value has ripped higher this year.  

3. JPMorgan is bullish on alternative energy stocks no matter who wins the election. Here’s what the upside potential might look like.

4. Nobel-winning economist Robert Shiller says low investor confidence and high prices are raising the risk of a market crash. In an opinion piece, he cautions investors against being overweight stocks.

5. European stocks have skidded to their lowest in a month. COVID-19 cases are surging across the region, sending volatility to a four-month-high.

6. Earnings expected. Microsoft, Eli Lilly, 3M, and Caterpillar are due.

7. On the data docket today. Durable goods, consumer confidence, the Redbook survey and the Richmond Fed manufacturing index are on the calendar.

8. Bank of America knows how you can dominate the rest of earnings season. The bank has identified 11 under-owned stocks to buy now, since they’re poised to beat forecasts.

9. How a Biden win would jolt the US economy out of sluggish growth. Ronald Temple of Lazard Asset Management unpacks this, and pinpoints 3 sectors to target in a stock-pickers’ market.

10. Investing advice from Chamath Palihapitiya, who’s up 997% since 2011. The billionaire shares 5 sectors shaping his long-term investment playbook.

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World News

Civil rights attorney Leo Terrell: Biden has done nothing for Black community 'other than insulting' them

‘LARRY & LEO 2.0’ available exclusively on Fox Nation

Civil rights attorney Leo Terrell rips 2020 Democratic nominee Joe Biden for his failure to address issues impacting the Black community during his 36-year career in the United States Senate on his new Fox Nation show "Larry & Leo 2.0."

"Donald Trump has signed executive orders to reform police reform, he has lowered Black unemployment, he has funded historically Black colleges," Terrell says. 

"I see all these things that Donald Trump has done, and I've been a civil rights attorney for 30 years, I don't know what Joe Biden has done for Black people other than insulting Black people."

Earlier this year, Biden told a New York City morning radio program that if African Americans were unsure whether to support him or Trump, they "ain't Black." The Delaware Democrat later expressed regret for those comments.

Terrell, who has previously said on Fox News that the Democratic Party "left" him, also blames Biden for incarcerating a disproportionate number of Black Americans with his support of the 1994 crime bill, contrasting it to Trump's support of the First Step Act.

"I've been a civil rights attorney for 30 years and I don't know anything Joe Biden has done," Terrell reiterates. 

Terrell, a lifelong Democrat, says his support for the president is driven by Trump's record and the media's hostility toward his administration.

"He can't do enough," he says, "…. and to me, it's just outright shameful."

"If the man discovered a cure for cancer," co-host Larry Elder adds, "he'd be sued for throwing doctors out of work."

To watch the full episode of "Larry & Leo 2.0" and more, visit  Fox Nation and sign up today.

Fox Nation programs are viewable on-demand and from your mobile device app, but only for Fox Nation subscribers. Go to Fox Nation today to start a free trial and watch the extensive library from Tomi Lahren, Pete Hegseth, Abby Hornacek, Laura Ingraham, Ainsley Earhardt, Greg Gutfeld, Judge Andrew Napolitano and many more of your favorite Fox News personalities.

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World News

Issues important to Trump await Barrett on Supreme Court

Senate vote confirms Amy Coney Barrett as Supreme Court Justice

After a 52-48 majority vote, the Senate confirms Amy Comey Barrett as Associate Justice to the Supreme Court.

WASHINGTON (AP) – Amy Coney Barrett's first votes on the Supreme Court could include two big topics affecting the man who appointed her.

The court is weighing a plea from President Donald Trump to prevent the Manhattan district attorney from acquiring his tax returns. It is also considering appeals from the Trump campaign and Republicans to shorten the deadline for receiving and counting absentee ballots in the battleground states of North Carolina and Pennsylvania.

It's not certain Barrett will take part in any of these issues, but she will make that call.

Barrett was confirmed Monday by the Senate in a 52-48 virtual party-line vote. She is expected to begin work as a justice on Tuesday after taking the second of two oaths required of judges by federal law. No justice has assumed office so close to a presidential election or immediately confronted issues so directly tied to the incumbent president's political and personal fortunes.

At 48, she's the youngest justice since Clarence Thomas joined the court in 1991 at age 43.


Other election-related issues are pending at the high court, which next week also will hear a clash of LGBTQ rights and religious freedoms. The fate of the Affordable Care Act is on the agenda on Nov. 10, and Trump himself last week reiterated his opposition to the Obama-era law. “I hope they end it,” he said in an interview with CBS News' “60 Minutes.”

On Friday, Barrett, the most open opponent of abortion rights to join the court in decades, also could be called upon to weigh in on Mississippi's 15-week abortion ban. The state is appealing lower court rulings invalidating the ban. Abortion opponents in Pittsburgh also are challenging a so-called bubble zone that prevents protesters from getting too close to abortion clinics.


The court put off acting on both cases before Barrett joined the court, without offering any explanation in the Mississippi case. It ordered Pittsburgh to file a response to the appeal filed by the protesters, who call themselves sidewalk counselors.

It's not clear that the public will know how Barrett voted in the two abortion cases because the court typically doesn't make the vote counts public when it is considering whether to grant full review to cases.

Barrett declined to commit to Democratic demands that she step aside from any cases on controversial topics, including a potential post-election dispute over the presidential results.

Barrett is joining the court at an unusual moment. The justices are meeting remotely by telephone because of the coronavirus pandemic, both for their private conferences and public argument sessions, at least through the end of 2020. The public can listen to the arguments as they take place, a change also resulting from the court's response to the pandemic.

After her first private conference with her new colleagues on Friday, two weeks of arguments begin on Monday. In an institution that pays strict attention to seniority, Barrett will go last in the private and public sessions.


As she settles into her new office at the court, Barrett will be joined by four law clerks, usually recent law school graduates who have experience working for federal judges.

When the court reopens to the public and the justices return to the courtroom, Barrett is expected to assume several duties reserved for the court's junior justice. She will be a member of the committee that oversees the court's public cafeteria, and the person who takes notes and answers the door when someone knocks during the justices' private conferences.

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U.S. Treasury yields move lower as investors monitor economic data, auctions

  • At around 5:40 a.m. ET, the yield on the benchmark 10-year Treasury note was lower at 0.7994%, while the yield on the 30-year Treasury bond was lower at 1.5923%.
  • Yields move inversely to prices.
  • It comes at a time when market participants are increasingly concerned about the economic impact of an upsurge in coronavirus cases.

U.S. government debt prices were higher on Tuesday morning, as investors closely monitored a fresh batch of economic data and Treasury auctions.


At around 5:40 a.m. ET, the yield on the benchmark 10-year Treasury note was lower at 0.7994%, while the yield on the 30-year Treasury bond was lower at 1.5923%. Yields move inversely to prices.

It comes at a time when market participants are increasingly concerned about the economic impact of an upsurge in coronavirus cases. A wave of new Covid-19 infections around the world has prompted some countries to impose fresh restrictions as winter looms.

To date, more than 43.5 million people have contracted Covid-19 worldwide, with 1.16 million related deaths, according to data compiled by Johns Hopkins University.

On the data front, durable goods orders for September will be released at 8:30 a.m. ET, with the S&P CoreLogic Case-Shiller National Home Price Index for August due to be released at 9:00 a.m.

Consumer confidence for October, the Richmond Fed manufacturing survey for October and third-quarter housing vacancies are all scheduled to be released at 10:00 a.m., with Dallas Fed services to follow slightly later in the session.

The U.S. Treasury will auction $30 billion of 119-day bills, $30 billion of 42-day bills, and $54 billion of 2-year notes on Tuesday.

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