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Economy Apr 07, 2026

UK pushes to auto‑release £1.5 bn in dormant child trust funds when holders turn 21

Around 758,000 young adults in Britain are missing out on unclaimed Child Trust Funds worth an esti…
When Elle Middlemas turned 18, she began wondering whether she owned a Child Trust Fund (CTF) – a government‑backed savings account created for children born between 1 September 2002 and 2 January 2011. Her search hit a dead end; she could not confirm if she was entitled to any money and an email to HMRC yielded no response.Middlemas, a Whitby college student, explained that the loss of her mother at age 11 left her with little guidance. “My sister is 21 and spent three years looking for a fund and found nothing, so we assumed we didn’t have one,” she said, expressing the frustration felt by many of her peers.She and her sister are part of an estimated 758,000 people aged 18‑23 who have unclaimed CTFs. Collectively, these dormant accounts hold roughly £1.5 bn, a substantial sum that disproportionately belongs to low‑income families who are often unaware of its existence.Advocates are now pressing the government to automatically release CTFs when holders reach 21 years of age. Experts estimate that such a policy could inject up to £286 m directly into the pockets of young people who need it most.Middlemas finally learned of her entitlement after a conversation with a friend’s parent six months after her birthday. She discovered the Share Foundation, a charity that helps reconnect youths with their funds, and located a NatWest account bearing her name.“I had £700 sitting in my bank and thought, ‘What is going on?’ My sister also had one but never knew how to access it,” she recalled. The sisters plan to use the money to support university expenses and repay debts, underscoring the tangible impact of the scheme.The CTF programme was launched by the Labour government in 2005 to encourage parental savings. Every child received a £250 government contribution, with an additional £250 for those from low‑income families or in local authority care. Parents could add up to £9,000 per year, and any investment gains accrued until the child turned 18.If a parent failed to open an account within 12 months of birth, HMRC would create one on the child’s behalf. Today, the average value of a CTF stands at about £2,200.More than two‑thirds of the six million original recipients are now over 18 and eligible to claim their funds, with HMRC‑allocated accounts representing 28 % of all CTFs.Geographically, the North‑East of England has the highest concentration of HMRC‑allocated accounts, totalling £48 m. Across the UK, youths from the most disadvantaged 15 % of families hold accounts averaging £2,900 in value.Gavin Oldham, chief executive of the Share Foundation, warned that the scheme is hampered by poor communication, limited financial education, and “policy neglect”. He indicated the charity is considering a judicial review to compel the government to release the unclaimed assets.Oldham noted that the charity has already linked “well over 100,000 accounts to young adults”, yet the “sheer quantum of these unclaimed accounts remains a major problem”.“It is strange to find a government which expresses concern over youth poverty while doing so little to deliver on a groundbreaking scheme,” Oldham added.The charity’s proposal to release HMRC‑allocated funds automatically at 21 would free roughly £500 m, including £350 mOldham cautioned that a legal challenge, while potentially successful, could delay payouts for years, leaving vulnerable youths “denied their birthright for far too long”.Beyond immediate release, the Share Foundation is urging the creation of a new, targeted scheme for low‑income youths that embeds a financial‑awareness component, allowing participants to top up their funds through education‑linked incentives.Labour MP Laura Kyrke‑Smith echoed these concerns, describing the CTF system as “confusing and opaque” and calling for proactive tracing of account holders and clearer public information.HMRC responded that it is “directly sending every eligible young person information to help them find their child trust fund”, while also raising awareness via social media, broadcast interviews, and an online tracing tool. The agency added that banks, building societies, and investment firms managing the funds share responsibility for communicating with account holders.
#Child Trust Fund #UK Government #Department for Work and Pensions
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Video Apr 07, 2026

Rescuers Hunt for Survivors After Residential Strikes Ravage Iranian Homes

Rescue teams are actively searching for survivors following strikes that damaged residential houses…
Emergency responders have mobilized across affected Iranian neighborhoods, searching for survivors after a series of strikes struck residential homes. The operation underscores the immediate humanitarian effort to locate and assist those trapped or injured in the damaged dwellings. Authorities continue to assess the extent of the damage while prioritizing the safety and recovery of the local population.
#rescuers #search #survivors
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World Economy Apr 07, 2026

Vietnam gig workers' earnings slashed as Iran‑linked fuel price surge doubles diesel costs

Rising fuel costs triggered by the Iran‑related blockade of the Strait of Hormuz have forced Vietna…
Vietnam’s gig‑economy is under pressure as fuel prices soar following the Iran‑related blockade of the Strait of Hormuz. Nguyen, an e‑hailing driver in Ho Chi Minh City, reported that a 7‑hour shift earned him 240,000 VND (≈$9.11) while fuel alone cost 120,000 VND (≈$4.56), wiping out half his income.Diesel prices have more than doubled and petrol has risen by almost 30 %, straining riders who rely on motorcycles – the dominant transport mode in a city of over 7 million two‑wheelers.In response, Prime Minister Pham Minh Chinh announced a temporary suspension of the environmental tax on diesel, petrol and aviation fuel until 15 April, a move that will forfeit an estimated $273 million in revenue but aims to curb the price surge.Experts warn the shock highlights Vietnam’s vulnerability to external conflicts. Nguyen Khac Giang, a visiting fellow at the ISEAS‑Yusof Ishak Institute, said the tax cut is essential to “keep macro‑economic stability intact” amid “turbulence outside Vietnam”.Beyond gig workers, the ripple effect reaches public transport and airlines. Bus operators have raised fares by 3,000 VND (≈$0.11) yet still face losses, while Vietnam Airlines and Vietjet have trimmed flight schedules.Gig workers lack collective bargaining power. Do Hai Ha, a University of Melbourne research fellow, noted that platform drivers “have no chance to negotiate with the platforms” and are excluded from minimum‑wage or overtime protections, forcing many to work longer hours for diminishing returns.Small‑scale entrepreneurs are also feeling the pinch. A fisherman from Binh Thuan reported that his catch price fell from 800,000 VND (≈$30) to 650,000 VND (≈$24) as fuel costs climbed, while a bus fare collector on route 13 said the company cannot absorb the higher fuel bill despite modest fare hikes.Households are cutting back on essential goods. Uyen Pham of Saigon Children’s Charity observed that the price of bottled cooking gas has nearly doubled, prompting low‑income families to revert to wood‑fuel stoves and limit travel to see relatives.The crisis is prompting a strategic rethink on energy policy. Giang warned that Vietnam’s reliance on just two refineries – which currently meet only 40 % of national petrol demand – is unsustainable, urging accelerated investment in domestic refining capacity.Corporate responses are already shifting. Vingroup, the country’s largest conglomerate, announced it would pause a planned LNG‑fired power plant and redirect funds to renewable projects, citing “significant risk of high fuel prices” linked to the war.For workers like Duy, who runs a café near a petrol station, the tax suspension offers modest relief: projected price cuts of about 25 % for petrol and 5 % for diesel could ease daily expenses that had briefly doubled.
#vietnam #prices #fuel
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Politics Apr 07, 2026

Yemen Civilians Brace for Fallout as Houthis Enter Iran War

Yemen's civilians fear the consequences of the Houthi rebels' involvement in the US-Israeli war on …
Yemen's civilians are bracing for the worst as the country's Houthi rebels have entered the war against Iran, sparking fears of a new chapter of suffering in a nation already grappling with a critical humanitarian situation. The involvement of the Houthis, who control the capital city of Sanaa, has raised concerns among locals about potential Israeli retaliation, which could trigger displacement, fuel shortages, and inflation. Yasser, a 45-year-old ice cream shop owner in Sanaa, expressed his worries about the impact on his business and family. “The moment Israel begins its military response to the Houthis, we will lose the little comfort we have today. Fear, price hikes, and fuel shortages will suffocate us. The end of the conflict is unpredictable,” he said. The Houthis' decision to enter the war has been met with a mix of fear and support from civilians. While some, like Ammar Ahmed, a 28-year-old taxi driver, are worried about the safety of their families and the potential for Israeli attacks on residential areas, others, like Mohammed Ali, a 26-year-old university graduate, have expressed their support for the Houthi leadership and their faith in their ability to withstand the conflict. Economists warn that Yemen's already crippled economy would decline further if the country becomes a new front in the widening conflict in the region. Wafiq Saleh, a Yemeni economic researcher, noted that the escalation will drive up prices for essential imports, including food, fuel, and medicine, as shipping and insurance costs rise. The humanitarian situation in Yemen is already dire, with United Nations reports indicating that the escalating conflict in the wider region risks exacerbating the country's economic situation and disrupting vital humanitarian and commercial supply chains.
#Yemen #Houthis #Iran
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Politics Apr 07, 2026

US Military Rescues Downed Airman in Daring Operation Deep in Iran

The US military successfully rescued a downed American airman from a remote area in Iran after a co…
President Donald Trump announced that the US military has successfully rescued a missing American fighter jet crew member from a remote part of Iran. The Air Force officer went missing after his F-15 jet was downed on Friday, with the pilot being quickly rescued, but a search had to be launched for the F-15's weapons systems officer. In a Truth Social post on Sunday, Trump wrote that the US had rescued the second airman, described as 'seriously wounded, and really brave,' from 'deep inside the mountains of Iran.' A firefight between US and Iranian forces reportedly took place in Kohgiluyeh and Boyer-Ahmad province before the rescue, though Iran has not confirmed this. The rescue mission involved two raids, with the pilot being rescued in 'broad daylight' during the second raid. Trump noted that the type of rescue mission that recovered him 'is seldom attempted because of the danger to man and equipment.' The operation reportedly involved dozens of aircraft carrying 'lethal weapons.' Iran had also been racing to locate the airman, with Tehran calling on the public to hand over the soldier to the authorities. Iran's Islamic Revolutionary Guard Corps claimed that Iranian forces had destroyed two C-130 aircraft and two Black Hawk helicopters during the operation. This incident is part of a broader conflict that has resulted in the loss of 13 US service members and wounded over 300, according to the US military's Central Command. The US has lost several military assets, including three F-15 fighter jets in a friendly fire incident over Kuwait and a military refueling aircraft over Iraq.
#US Air Force #Iran #F-35 Lightning II
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Features Apr 07, 2026

Ukrainian Drone Strikes Ignite Baltic Oil Hubs, Cutting Russia’s Export Revenues by $1 Billion

Ukrainian long‑range drones have set fire to Russia’s two main Baltic oil terminals, halting shipme…
For Konstantin, a 53‑year‑old resident of St Petersburg, the war in Ukraine has become a literal scent in the air. Over the past fortnight he has repeatedly detected the acrid odor of burning crude, fuel and chemicals drifting from Ukrainian drone strikes on Russia’s two largest Baltic oil terminals. The facilities at Ust‑Luga and Primorsk together handle about 40% of Moscow’s seaborne oil exports and roughly 2% of global oil supply, according to the International Energy Agency. Both ports lie within 150 km of St Petersburg, making the smoke visible – and smelt – to locals. Ukrainian drones have flown more than 1,000 km from the front lines to strike storage tanks and loading infrastructure, igniting fires that have burned for days. The smell, described by Konstantin as a mix of diesel exhaust, burning plastic and rotten eggs, first appeared in late March. These attacks are a key element of Kyiv’s strategy to erode Russia’s “unexpected windfall” from oil exports, a revenue stream that has surged as the US‑Israel campaign against Iran pushed global oil prices higher. Satellite imagery shows extensive damage at both terminals, with Ust‑Luga’s sprawling processing complex blackened by fire. As a result, both ports are currently unable to dispatch cargo, forcing traders to reroute oil to smaller Baltic and Black Sea ports that lack the capacity to absorb the displaced volume. Financial analysts estimate that the disruption has already cost Moscow roughly $1 billion in lost export earnings, according to Bloomberg data released on March 31. Moreover, every $10 rise in global oil prices translates into about $1.6 billion of additional monthly income for the Kremlin. Russian officials have blamed European nations for allegedly facilitating the drone overflights, but Ukrainian experts dispute this claim. Andrey Pronin, a pioneer of Ukraine’s drone warfare, emphasized that the strikes are meticulously planned to stay within Russian airspace, bypassing air‑defence systems. Since the campaign began, Ukrainian forces have targeted 13 oil sites, seriously damaging at least eight refineries from the Baltic coast to the Volga region. The attacks are timed to coincide with the heightened profitability Russia enjoys from the Iran‑related oil price surge, according to researcher Nikolay Mitrokhin of Bremen University. Beyond the immediate economic impact, Kyiv views the strikes as leverage in negotiations with Moscow. President Volodymyr Zelenskyy has floated the idea of a temporary moratorium on attacks against Ukrainian energy infrastructure in exchange for concessions, though the strategy also inadvertently benefits Iran by sustaining higher oil prices. On the tactical side, Ukraine now relies heavily on FP‑1 drones produced by the domestic Firepoint company. These unmanned aircraft can carry up to 120 kg of explosives and travel roughly 1,500 km, enabling strikes deep inside Russian territory. For civilians living near the conflict zones, the nightly “fireworks” of explosions have become a grim routine. Abdulla, a Tatar resident of Crimea, described the constant shelling as a new normal, while analysts note that President Vladimir Putin remains resolute, using the ongoing talks with the White House as a diplomatic façade. Overall, the Ukrainian drone campaign illustrates how modern warfare increasingly intertwines kinetic attacks with strategic economic disruption, reshaping the dynamics of the Russia‑Ukraine war and its broader geopolitical reverberations.
#ukraine #russia #primorsk
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World Economy Apr 07, 2026

Asia Feels the Pinch as Iran War Threatens Oil Supplies

The Iran war is putting pressure on Asia's fuel supplies, causing prices to rise and stocks to dwin…
Parts of Asia are already feeling the strain of the Iran war, with fuel supplies tightening and prices rising. Some countries are warning that their stocks may run out, revealing just how fragile the global energy system is.The impact of the war is being felt far from the battlefield, with the threat to oil flows causing immediate concern. This has raised questions about the resilience of the global energy system and its ability to withstand geopolitical tensions.Vina Nadjibulla, vice-president of Research and Strategy at the Asia Pacific Foundation of Canada, provides insight into the situation.
#take #list #our
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Science Apr 06, 2026

Scientists Uncover 'Neural Fingerprint' of Psychedelic Drugs in the Brain

Researchers have identified a unique 'neural fingerprint' produced by psychedelic drugs in the huma…
Scientists have made a groundbreaking discovery, identifying a distinct 'neural fingerprint' produced by psychedelic drugs in the human brain when users experience their mind-altering effects.This breakthrough finding emerged from a comprehensive study that combined 11 brain imaging datasets from around the world, involving over 500 brain scans from 267 people in five countries. The research focused on five psychedelic substances: LSD, psilocybin, DMT, mescaline, and ayahuasca.The study revealed that these substances have a shared impact on the brain's behavior, dissolving the usual hierarchy of brain systems and flattening the hierarchy, which may underlie the raw access to one's own consciousness that some people describe during psychedelic experiences.Dr. Danilo Bzdok, a senior author on the study from McGill University in Montreal, Canada, explained that all five drugs change brain function in common ways, despite some differences in how they alter brain activity. The most striking effect was stronger communication between brain networks that engage in higher-level thinking and more primitive networks linked to vision and sensation.The research, published in Nature Medicine, provides a solid foundation for psychedelic research, which is crucial if these drugs are to become widespread therapies for mental health conditions such as depression, schizophrenia, and post-traumatic stress disorder.Dr. Emmanuel Stamatakis, a senior co-author on the study from the University of Cambridge, emphasized the importance of large-scale, coordinated evidence in the field of psychedelic research, which is moving quickly and needs to mature responsibly.
#Johns Hopkins University #functional MRI #LSD
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Politics Apr 06, 2026

Meta Fined $375m in Landmark Case Over Child Sex Trafficking on Facebook and Instagram

A Guardian investigation exposed child sex trafficking on Facebook and Instagram, leading to a $375…
A Guardian investigation has shed light on the dark reality of child sex trafficking on Facebook and Instagram, prompting a landmark lawsuit against Meta. The tech giant has been fined $375m in a New Mexico court case, highlighting its failure to prevent criminal exploitation on its platforms.The investigation, led by reporter Katie McQue, began with a tip-off about surging child sexual abuse trafficking in the US. It uncovered evidence of traffickers using Facebook Messenger and private Instagram accounts to target, groom, and exploit children. Meta was found to be struggling to prevent these crimes, despite warnings from experts and law enforcement.The probe involved extensive research, including analysis of court documents and interviews with former Meta contract workers. These workers reported that their efforts to flag and escalate possible child trafficking often went unaddressed, and harmful content was rarely removed.The investigation's findings were published in April 2023, revealing how Facebook and Instagram had become marketplaces for child sex trafficking. The case was cited in a US supreme court amicus brief, and New Mexico's office of the attorney general filed a lawsuit against Meta for failing to protect children.The lawsuit went to trial, and Meta lost the court battle in March, being ordered to pay $375m in civil penalties. The company has said it will appeal the ruling, maintaining its stance on protecting teens online.This case marks a significant milestone in the ongoing scrutiny of social media platforms' role in combating child exploitation. Meta faces further trials, including one with a coalition of 33 attorneys general alleging the company designed features that 'purposefully addict children and teens.'
#Meta #Facebook #Instagram
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