The Payment Systems Regulator (PSR) planned to reduce fraud compensation limits for scam victims from £415,000 to £85,000, aligning with the Financial Services Compensation Scheme. Despite pressure from ministers and industry stakeholders, the PSR justified the change by citing a low number of high-value fraud cases and the need to strike a balance between consumer protection and industry competition. Consumer watchdog Which? criticized the move, expressing concerns about reduced protections and incentives for payment firms to enhance fraud security measures.
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Nvidia has lost $250 billion worth of market cap in almost an instant
Nvidia (NVDA) stock has experienced a significant decline following the company's announcement of a $5.5 billion loss due to export controls imposed by the Trump administration. Since Tuesday, Nvidia's market capitalization has plummeted by over $250 billion as a result of this stock drop. The situation highlights the substantial impact of regulatory changes on the company's financial standing and investor confidence. Full Article
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