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Business News Roundup – 10th June 2024

Business News England

Brought to you by DPC Accountants

Welcome to the DPC round up of the latest business news for our clients for 10th June 2024.

Please contact us if you want to talk with out team of experienced Stoke-on-Trent accountants about how these updates affect your business. We are here to support you!

 

THIS WEEK…

How a general election can affect your business

Reforms and changes ahead

The news is currently full of reports on the general election, so much so that you may be inclined to switch off rather than hear any more about it!

Of course, we have no wish to take sides or promote the views of one party over another. However, regardless of what happens and who eventually wins, a general election represents a significant event that can shape the economic landscape of a country. For your business, these elections bring about a period of uncertainty and potential change.

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Advice for charities to concentrate on their positive work

Remebering the purpose of charity

The Charity Commission has recently concluded its regulatory compliance case into the Actors’ Benevolent Fund and has drawn out some lessons that can benefit all charities.

The case was opened in February 2022 over concerns about how the Fund was being governed and its financial controls. There were significant disagreements about how trustees were appointed to the charity’s board as well as how they were removed or retired from it. Needless to say, these disagreements have been very disruptive to the charity and its ability to deliver on its charitable aims.

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More indicators of a cut in interest rates to come

Canadian confidence

The Bank of Canada announced a cut of a quarter of a percentage point to its key interest rate last week, bringing the rate down to 4.75%.

Canada is the first country in the G-7 to cut rates following the moves in recent years to increase rates throughout the worldwide economy. Canada has been increasing rates since March 2022 to deal with inflation.

The Canada central bank felt confident that inflation is moving towards its target of 2% and so were willing to make the cut.

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Choosing passwords: the three random words method

Making passwords easy to remember and hard to crack

With our personal and work lives now requiring us to have so many passwords, it is difficult to keep coming up with new passwords.

The National Cyber Security Centre (NCSC) have been championing the three random words method as a strategy to help with this problem. This method involves choosing three words at random and combining them to make a password, for example: paperhumbleconnect.

Weak passwords can be easily cracked, but the longer and more unusual your password is, the more difficult it is for a cybercriminal to crack it.

[READ FULL ARTICLE]

Cutting edge technology coming to fishing industry

Enhancing fish stocks using technology

The UK government has announced a new initiative to enhance the sustainability of fish stocks through the implementation of Remote Electronic Monitoring (REM) technology in English waters. This technology includes cameras, gear sensors, and GPS units to ensure accurate recording of catches and prevent unlawful discarding of fish. The data collected will help manage fish stocks sustainably and increase confidence in the sustainability of UK fish among retailers and consumers.

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