Facebook and Instagram owner claims charges should not be calculated based on a company’s global revenue

Meta has launched a legal challenge against the UK’s media regulator over the fees and fines regime it is enforcing under landmark digital safety legislation.

The Facebook and Instagram owner is claiming that Ofcom’s methodology for calculating the charges is flawed and should not be based on a company’s global revenue. Breaches of the Online Safety Act can be punished by fines of up to 10% of qualifying worldwide revenue (QWR) or £18m – whichever is higher.

‘Targeted support’ means certain banks and financial institutions can offer free extra help with investments and pensions

Many Britons are daunted by the world of investing, but new City rules mean certain banks and financial institutions can offer free extra help with investments and pensions.

Last month marked the launch of “targeted support”, a new regulated service that permits companies to suggest investments and pension products to customers that might provide a better return.

England’s higher education regulator must rebuild trust with troubled sector after series of blunders under previous leadership

In its brief and unhappy life, England’s Office for Students has been offered a series of challenges it has largely failed to meet. This week the latest and most embarrassing of those was unveiled when the high court decisively rejected the higher education watchdog’s attempts to fine the University of Sussex more than £500,000 for regulatory failings relating to Kathleen Stock’s time as an academic at Sussex.

Stock quit Sussex in 2021, saying she felt ostracised and targeted for her views on gender identity and transgender rights. Here was the highest profile test case that the OfS had seen: a subject of enormous controversy and sensitivity, involving key issues of academic freedom and freedom of speech. But as we now know from Mrs Justice Lieven’s ruling, in its rush to intervene, the OfS managed to tie together its own shoelaces.

Exclusive: Report finds Natural England has created no new SSSIs, which protect areas from development, since 2023

The government’s wildlife watchdog for England is failing to save nature because it has stopped giving protection to rare wildlife and habitats, according to a new report.

No new sites of special scientific interest (SSSIs) have been designated by Natural England since 2023. SSSIs are nationally or internationally important places for rare wildlife and habitats. Without the designation, endangered species can be at risk of being lost to development.

Filings suggest manufacturers’ lending arms have massively underestimated bill from FCA’s £9.1bn redress scheme

Carmakers are under pressure to drum up £3bn to cover payouts for motor finance scandal victims after failing to adequately prepare for a UK-wide compensation scheme that is due to begin this summer.

Company filings show the lending arms of big vehicle manufacturers including Ford, BMW, Stellantis and Volkswagen may have massively underestimated the final costs of the financial regulator’s £9.1bn redress scheme.

Finance chiefs to join exercise in Washington designed to assess how they would handle collapse of significant bank

The bosses of the central banks and treasuries of the UK, US and EU are to take part in a war game in Washington on Saturday to test how they would handle the collapse of a globally significant bank.

Amid growing unease over the risks to global financial stability, the most senior officials from the US Federal Reserve, the European Central Bank and the Bank of England – including its governor, Andrew Bailey – are expected to take part.