Furious boater drives through River Thames regatta and screams ‘you don’t own the f***** water’

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This is the shocking moment a foul-mouthed boater caused mayhem on the River Thames and narrowly avoided collision with a group of rowers.

Scott Keen steered his boat into a closed-off section of the Thames where a summer regatta was being held while yelling ‘You don’t own the f****** water’.

Despite clear warnings, Keen sailed his unregistered boat, Barney McGrew, across the racing line, forcing one boat into a frantic manoeuvre to avoid a potentially catastrophic collision.

Keen, from Morden, Surrey, was hit with fines and costs of £4,335 over the episode of river rage at Kingston-upon-Thames last July.

Staines Magistrates’ Court heard that Keen steered his boat into a section of the Thames closed off for the Kingston Amateur Regatta, an event established in 1852, swamping rowers and narrowly avoiding a collision.

After ignoring requests to turn back, his cruiser caught the anchor rope of a race stake boat, before he stopped and launched a foul-mouthed tirade at rowers, yelling that ‘they did not own the f***ing water.’

He yelled at the rowers that they ‘didn’t own the water’ (Picture: Environment Agency)
grabs - foul-mouthed boater credit: Environment Agency
The area had been marked off prior to the regatta (Picture: Environment Agency)

Maria Herlihy, operations manager at the Environment Agency and harbour master of the Thames, said: ‘This incident was a disgrace. Keen showed no regard for the safety of other river users and could easily have caused a tragedy.

‘Quite frankly, it was no surprise to discover that his boat was unregistered, and we are happy with the court result. We hope that this serves as a clear warning to all – anti-social and dangerous behaviour on our rivers will not be tolerated.’

Keen was found guilty of obstructing a boat race and interfering with the safety of persons gathered, failing to comply with a harbour master’s notice, and failing to register his boat for use on the Thames.

He was also found to have navigated his boat dangerously and used abusive language at other river users.

He also failed to attend court on January 28 but was fined the maximum penalty of £1,000.

An Environmental Agency crackdown on unregistered vessels in the Thames last year resulted in 40 boaters having to pay a combined total of over £55,000 for their offences.

grabs - foul-mouthed boater credit: Environment Agency
Rowers looked on in shock as he drove through the regatta (Picture: Environment Agency)
grabs - foul-mouthed boater credit: Environment Agency
The boat was unregistered (Picture: Environment Agency)

Last summer, two boats were involved in a horrific crash as one sailor was thrown overboard during the Round the Island Race on the Isle of Wight.

The Royal National Lifeboat Institution (RNLI) rushed to his aid to pull him from the water despite the extreme conditions.

Wind speeds soared to 64mph before the shocking incident happened off Yarmouth.

The event, which sees boaters sail 50 miles around the Isle of Wight, normally attracts one of the largest fleets of any yacht race.

But the severe weather had a major impact last year with 418 yachts retiring and just 153 finishing the race.

Get in touch with our news team by emailing us at webnews@metro.co.uk.

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I’m a food courier – its more dangerous than you think

Shaf Hussain - gig economy workers need more protected bike lanes
It’s why we’ll rush from pick-up to delivery and back again (Picture: Shaf Hussain)

Slamming into the ground with a thud, I felt confused, disorientated.

I’d been on my way to make a delivery in December 2020 and remember thinking how nice it was to see Oxford Street quieter than usual.

As a food courier, I’m used to navigating the busy roads, keeping an eye out for cars, buses, cabs and pedestrians alike. So the fact there were fewer people in general on the road that day, was a nice change of pace.

Yet somehow, I still managed to get into an accident when I had to swerve to avoid a bus.

I then felt myself fly off my bike and land on the road with an almighty crash and a number of pedestrians came to my aid to ask if I was OK.

Even though I could immediately feel that something was wrong with my knee, I insisted I was fine and pulled myself to my feet. By the time I got up though, there was nothing in sight to explain my accident.

Unfortunately, this is not a unique tale. There’s a culture in London of drivers not respecting cycle lanes or space for cyclists in general, and that needs to change.

Shaf Hussain - gig economy workers need more protected bike lanes
There are more than 23,000 road casualties every year in London (Picture: Shaf Hussain)

After spending years working in retail with no opportunities to progress, I made the switch to working for delivery apps back in 2016 as I thought it would be a way of taking some control over my own life and career.

Fast forward to today and it’s estimated that there are at least 20,000 food delivery riders in London with nearly 10% of trips on inner London’s cycle lanes being taken by these types of couriers.

Alarmingly though, there are more than 23,000 road casualties every year in London and 80% of those killed or seriously injured on London’s roads are pedestrians, cyclists, or powered two-wheeler riders like me.

In the eight years that I’ve been a food courier, I’ve been hit eight times – the most serious of which was that crash in 2020.

I ended up having to take six weeks off of work as there was no way I’d be able to keep cycling for hours on end as I’d sprained my knee.

side view of the legs of a group of people sitting on bicycles on the streets of london during daytime
I’ve been doing this for the job for so long that I’ve got pretty good at navigating the busy roads, but it’s still dangerous (Picture: Getty Images)

But I also know many people who have had accidents while working, to varying degrees of severity.

Many of my friends have endured small scrapes or bruises as part of the job, but I know of at least one other person who was hit by another road user. He ended up with a broken arm and has been suffering with long-term mobility issues with his shoulder ever since.

Sadly, in November this year, research by climate charity Possible and the IWGB union – a trade union that advocates for workers’ rights and safe working conditions – found that 60% of couriers ‘always or constantly’ feel at risk or in danger on the roads when they are working.

That’s simply not good enough.

When you work in an office building, there’s health and safety guidelines and risk assessments to keep workers safe, but that doesn’t happen for couriers.

We’re expected to work long hours for low pay in a high pressure industry that sees us rush from one delivery to the next in order to make our pay worth it.

More than four years on, I still deal with knee pain from that crash simply because I couldn’t afford to be out of work for too long

QuoteQuote

For most people, getting food delivered is about convenience and ease, but most people don’t think about what we risk to get it to you.

I’ve been doing this for the job for so long that I’ve got pretty good at navigating the busy roads, but it’s still dangerous. And if you do get into an accident it can really impact your wellbeing.

It takes a toll on you to constantly be scared. To wonder if an accident will mean the end of my career – or even my life – all because another road user doesn’t respect my right to be there.

My point is that the infrastructure for cycling is nowhere near good enough in London.

Where cycle lanes exist, people are abusing them by using that space to park their cars or driving too far into them so that cyclists are not able to use them safely.

We need less traffic on the roads and for drivers to have more respect for cyclists in general. We need better and more cycle lanes to make our journeys safer so that we won’t always be competing with cars, vans, and buses while working.

Shaf Hussain - gig economy workers need more protected bike lanes
It takes a toll on you to constantly be scared (Picture: Shaf Hussain)

Better still, we need companies to stop the high-pressure demands of the industry that encourage unsafe practices.

There is a constant threat of being banned from the app should our ratings drop below a certain threshold, which encourages us to become reckless with our own safety. It’s why we’ll rush from pick-up to delivery and back again, because the faster you are, the better your ratings and the better you’re paid.

When companies prioritise profit over safety, then so do we. It’s not right but it is the way things are right now.

I’d also like to see those same companies, or the government, help by providing lower-emission vehicles or e-bikes that will both make our journeys safer and easier, but also greener.

Comment nowDo you think the industry needs to treat couriers better? Have your say in the commentsComment Now

In September 2022, I became chair of the Couriers and Logistics Branch of the IWGB union because I wanted to fight for all couriers who have had to contend with poor, unsafe working conditions, low pay, and abuse from their workplaces.

Now, my job consists of making sure that every single courier is treated with respect and dignity, is paid fairly for their work and is safe on the roads. I do that by advocating on their behalf when they have complaints, organising against big delivery companies, and spreading awareness about employment rights.

More than four years on, I still deal with knee pain from that crash simply because I couldn’t afford to be out of work for too long, but I still won’t quit.

Like any job, mine has its highs and lows. I love getting to see almost every part of London while working and meeting new people all the time – that excitement and flexibility is not something you’d find in many office-based jobs, and I’d go stir-crazy behind a desk.

On the flip side, the constant risk to my life is concerning. Yet these issues could be fixed with better cycle lanes and less traffic.

Couriers are people too, and we should be treated as such. So let’s make the streets of London a safer place for all of us.

Do you have a story you’d like to share? Get in touch by emailing jess.austin@metro.co.uk

Share your views in the comments below.

Pub once run by London heist suspect on market for £85,000 a year

London pub once run by suspected gangland 'Mr Big' on market for ?85,000 a year
The Fox has been linked with one of the biggest cash heists in British history (Picture: Getty/Katie Ingham/Editing by Myles Goode)

An East End pub once run by a suspected heist mastermind who ‘retired’ to the Costa Del Sol is on the market for £85,000 a year.

The Fox was allegedly used by a ruthless London gang planning one of Britain’s biggest armed heists — the £6 million Security Express robbery

Banknotes from the 1983 heist in Shoreditch are then thought to have been stashed at the pub before being moved on to another location.

At the time, the Fox was tenanted by former armed robber Clifford Saxe, who decided to take early retirement in Spain.

A respectable new tenant is now being sought for the licensed premises in Hackney under a 20-year, free-of-tie lease.

The venue is described as ‘attractive and prominent’ in a guide by commercial property estate agent AG & G.

The description says the Fox ‘requires fit-out/investment’ and is available for a guide rent of £85,000 per annum.

No mention is made in the marketing blurb about the Fox’s colourful past and association with one of the biggest cash heists in British history.

The Fox stands mothballed on the Kingsland Road in Hackney after its last iteration as a craft beer pub ended (Picture: Google Maps)

The loot from the Security Express HQ, which was known as ‘Fort Knox’, consisted of untraceable bank notes weighing five tonnes.

Saxe and his accomplices are alleged to have planned the heist from the back room at the Kingsland Road haunt and at least some of the money is said to have been counted there after the raid.

There’s suspicion that a secret compartment at the royal red pub was used to conceal the spoils, according to author Sam Cullen, who has charted London’s lost pubs.

Only £2 million of the cash was ever recovered.

Saxe was one of Scotland Yard’s most wanted men and part of the ‘Famous Five’ — also including Freddie Foreman, John Mason, Ronald Everet and Ronnie Knight — who fled to Spain.

The publican, who always denied any part in the crime, died in 2002 while awaiting extradition. He was aged in his 70s.

Cullen has traced the Fox’s murky history along with the rich and diverse backstories of more than 200 other ‘lost pubs’ in London.

‘In the 80s the Fox had a landlord who apparently was involved in the Security Express robbery,’ he said.

‘After the robbery he very co-incidentally retired to Spain while the police were busy trying to find out what on earth had happened to this money.

‘When they went to the pub the following year, they found a false wall, broke through it and discovered a secret compartment where they thought it had been hidden. It smelt of beer and mildew.

‘Interestingly, the police didn’t necessarily say whether anything had been found there, but when they then found some of the banknotes from the heist, they smelt the same as that room so they thought the loot must have been stored in the pub.’

The Security Express building in East London where a gang of dangerous armed robbers struck in April 1983 (Picture: Harry Prosser/Mirrorpix/Getty Images)
The former home Of Ronnie Knight And Clifford Saxe in La Capellania, near Malaga in Spain (Picture: Paul Fievez/Daily Mail/REX/Shutterstock)

Saxe’s former haunt re-launched as a popular craft beer pub in February 2012, in keeping with the changing nature of the Hackney-Shoreditch area, with a roof terrace, photobooth and beer vending machine.

Six years later it was closed and boarded up in line with the freeholder’s intention to renovate the building and turn the top floor into flats.

The Fox is currently being advertised by the Wellington Pub Company, which runs the largest free of tie pub estate in the UK.

It also has a listing in Cullen’s new book, London’s Lost Pubs.

Others around the capital include the Thomas A Becket, a famous boxing pub where Muhammad Ali once visited, the Old King Lud, where Dale Winton was once a DJ, and The Camden Falcon, where Coldplay played one of their first gigs.

The writer feels that licensed premises have more of a ‘fighting chance’ now than compared to previous years.

New owners tried to give the pub a fresh start but it eventually shut down and the frontage is currently boarded up (Picture: Google Maps)

‘There are more ways to save pubs now then there was, say 15 years ago,’ he said.

‘Councils can give pubs listed status and they can be nominated as assets of community value, which gives them a fighting chance.

‘There are some good stories in London, including one in Tottenham called the Antwerp Arms, which was saved from closure by the community.

‘It does help if a pub is in a well-heeled community which can navigate the process.

‘It’s tricky if the person who owns a pub doesn’t want to play ball, but in general there is more that can be done than previously as there are at least things communities can fight back with now.’

Cullen, from Barnes in south-west London, is not writing off pubs like the Fox even when they have been boarded up for many years.

‘Providing the building hasn’t been demolished you never know,’ he said.

‘It’s a shame to walk past the Fox where the owners of the craft beer pub made a go of it for many years until it shut down relatively recently, but it could rise from the ashes.

‘I’d like someone to be reading about a pub that’s been shut for many years in the pub when it’s reopened.

‘I have no problem with the book being out of date because then they’ll know about the struggle and how it was overcome.’

ArrowMORE: Securitas heist ‘inside man’ still hasn’t paid a penny back of £250,000 spoils

Do you have a story you would like to share? Contact josh.layton@metro.co.uk

Map shows where snow and ice will hit UK as Met Office issues new weather warning

Cold and cyclist.
It has been a freezing start for many across the UK this morning but things will soon get warmer (Picture: LNP)

The Met Office has issued a snow and ice warning for parts of the UK which is also expected to bring rare freezing rain.

The yellow weather warning is in place for southern and central parts of Scotland and is in place until 12pm today.

This includes areas like Glasgow, Edinburgh and the Scottish Borders, and the weather could disrupt road, bus and train services.

It also brings the risk of freezing rain and five centimeters of snow which can bring down trees and power lines.

Freezing rain is when raindrops freeze almost instantly as they hit a surface.

It is rare in the UK and occurs when snowflakes melt through warm air and quickly pass through a thin layer of freezing air before hitting the ground.

This results in the surface being encased in a layer of clear ice which can turn roads into ice rinks or be heavy enough to pull down trees, the Met Office says.

The conditions for freezing rain are uncommon in the UK and are typically seen in other parts of the world such as the US.

Map shows where snow and ice will hit UK as Met Office issue new weather warning
The map shows where the weather warning is in place today (Picture: Metro)
Map shows where the hottest place in the UK could be this week after two weeks of 'anticyclonic gloom'
Map shows where the hottest place in the UK could be this week (Picture: Metro)

But it is not all bad news because from Wednesday temperatures could begin to rise, possibly reaching an above-average 15-16°C for parts of the country on Friday.

Stephen Dixon, spokesman for the Met Office said: ‘Much of the country will see temperatures above average for the time of year. So even in the north of Scotland on Thursday and Friday, you could get up to 14°C.’

The average temperature for this time of year is 7.2°C, however, the jump in temperature is not unusual as spring approaches.

Fog in High Bradfield, near Sheffield. Rain and snow are predicted to continue through the weekend, but milder weather is on the way. Picture date: Sunday February 16, 2025. PA Photo. See PA story WEATHER Mild. Photo credit should read: Dave Higgens/PA Wire
Rain and snow are predicted to continue through the weekend, but milder weather is on the way (Picture: PA Wire)

Mr Dixon said: ‘It’s not massively unusual. These kinds of weather patterns happen in the UK.

‘We’re often in the kind of battleground between different weather regimes, and that’s the case this week as we see that shifting influence on our weather.’

He added: ‘While temperatures are on the rise and temperatures themselves will feel much more spring-like, the weather won’t feel spring-like with wet and windy weather for many on Thursday.’

Much of the country will see rain fall through the day along with stronger winds particularly for those in the West from Thursday.

This will continue into Friday across Wales, the west of Scotland, northern England and parts of the South West while those further south, particularly in the South East, will see some sunshine.

Get in touch with our news team by emailing us at webnews@metro.co.uk.

For more stories like this, check our news page.

Ten injured in supermarket attack as teenager ‘sprayed shoppers with chilli oil’

Ten injured in terrifying Costco attack as shoppers sprayed with ?mystery liquid? and teen arrested after horror rampage
Ten people were injured after a ‘mystery liquid’ was sprayed in Costco (Picture: Aisling Legros)

A teenage boy has been arrested after spraying people with chilli oil at a Costco in Bristol.

Police were called to the superstore in Avonmouth at around 6.30pm on Monday following reports of a chemical incident.

The store was evacuated while the incident was investigated, and a boy was arrested on suspicion of attempting to cause grievous bodily harm and administering a noxious substance.

Avon and Somerset Police said 10 people, including the boy, complained of stinging or itchy eyes and skin, but ‘responded well to treatment’ at the scene.

The liquid is believed to be a type of home-made chilli spray with no strong acid or alkaline ingredients and was ‘found to be unharmful’, Avon Fire and Rescue Service said.

One shopper said: ‘There was a chemical attack on someone and the police were treating it as a terrorist attack.

‘I and 100+ people got locked in and weren’t allowed out while they looked into it.’

Police left the scene at about 9pm.

The force has appealed for anyone who witnessed the incident to contact them on 101.

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LinkedIn user sparks furious backlash over bizarre rant about women’s breasts

Furious LinkedIn users call for marketing man to be thrown off the platform after comparing a woman's breast size to her level of confidence in business
LinkedIn users have called for user James Langridge to be booted off the platform (Picture: Linkedin/Getty)

LinkedIn users have called for a self-proclaimed marketing expert to be kicked off the platform over an offensive post comparing a woman’s confidence levels to the size of her breast.

In an extremely ill-thought out spiel on the social networking platform, ‘business storytelling expert’ James Langridge posted a 200-word post to his followers which began ‘let’s talk boobs for a sec…’

Langridge then outlined his theory that ‘the larger they are, the more they tend to be covered up’, whereas they tend to be ‘on show’ if they are smaller.

Posting a picture of actress Hayley Atwell alongside his rant, he continued: ‘But it’s got me thinking, the more confidence we have in whatever we’re presenting (boobs or otherwise) the less we tend to shout about it.

Furious LinkedIn users call for marketing man to be thrown off the platform after comparing a woman's breast size to her level of confidence in business
The LinkedIn post has been labelled one of ‘the worst ever’ on the the platform
Furious LinkedIn users call for marketing man to be thrown off the platform after comparing a woman's breast size to her level of confidence in business
A picture of actress Hayley Atwell accompanued the post (Picture: Disney General Entertainment Con)

‘We might even try to hide our natural “gifts”,’ he said, emphasising his point with two balloon emojis and a smiley face.

Continuing his bizarre analogy, he added: ‘There are a lot of people in marketing working with A cup ideas and using verbal pushup bras to attract eyeballs’ but ‘there are a quiet minority in turtle necks and big coats packing FF concepts and offers’.

Mr Langridge rounded out his message by urging people to ‘make marketing classy again’ by ‘showing off a little more,’ and asking them to get in touch if they ‘might be hiding your assets like I did’.

Needless to say, LinkedIn users weren’t impressed by the sexist diatribe, and the post garnered over 3,000 comments in the 24 hours since it was posted, nearly all of them negative.

One businesswoman responded by writing: ‘It’s only Monday and we’ve unearthed a caveman that does not belong in this millennium, let alone on LinkedIn.’

Another person claimed the post was sexist, while another quipped: ‘Am I on LinkedIn or an Incel Subreddit?’

One user had a more pointed critique of Langridge, and responded by saying: ‘James, women have been objectified and sexualised so routinely that men seem to think this kind of a conversation is okay to have.

Furious LinkedIn users call for marketing man to be thrown off the platform after comparing a woman's breast size to her level of confidence in business
The response was overwhelmingly negative
Furious LinkedIn users call for marketing man to be thrown off the platform after comparing a woman's breast size to her level of confidence in business
Mr Langridge describes himself as a ‘business storytelling expert’

‘Imagine a post on LinkedIn that talked about men’s that stay hidden have more value; would that have been acceptable here? Why then would a post about women’s body parts?

‘Also, did you notice that this post of yours is screaming & shouting, “Look at me!”. Does that mean, going by your argument, that your work may not be as valuable as that of the quieter ones?’

Many people called for Langridge to be banned from LinkedIn for the sexist remarks, while others simply wanted his posts removed from their feed.

While Langridge has yet to respond to the criticism on his LinkedIn page, he did later post a message on Facebook about the incident, writing: ‘Think you have the balls to say whatever you think? Check out the comments on my LinkedIn post and come back to me…’

James Langridge has been reached for comment.

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Life drawing tutor says community centre is like Taliban after nude models ban

Organiser Tony Swann. Hampstead, London, 14th February 2025. Release date - February 16, 2025. A life drawing class has been kicked out of its home of over 30 years after being told they can only stay if their models are fully clothed. Organisers of the life drawing classes at the Hampstead Community Centre in North London have likened the move to those imposed by Islamic militant group the Taliban.
Organiser Tony Swann has compared the community centre to the Taliban (Picture: Tony Kershaw/SWNS)

A life drawing class owner has compared a London community centre to the Taliban after his nude models were told to cover up.

Artists at the Hampstead Community Centre in north London were told their nude muses pose ‘safeguarding concerns’ because they conflict with children’s sessions.

This has forced organiser Tony Swann to either move his sessions later in the evenings, cover up the models or find a new location.

But the 63-year-old said making models wear clothes for a life drawing class defeats its entire purpose.

The class has branded the community centre’s new rules as ‘puritanical’ and compared their attitude to the Taliban.

Mr Swann said: ‘They said they could allow us to have a clothed model in the day, but to be honest, you are just drawing a bunch of clothes at that point.

‘It seems rather like a Taliban attitude to artistic creation and entirely needless.

‘We black all the windows out and put signage up, so no one stumbles in on us – and it has worked for 30 years.’

Mr Swann, of Forest Gate, east London said the majority of his students are pensioners and do not want to take the class later on in the evening.

And using a covered model would just leave them ‘drawing a bunch of clothes’.

He believes someone at the community centre must have complained about there being a naked person in the building – despite there being ‘nothing sexual’ about the centuries-old art form.

‘In 30 years, we have never had a complaint, to my knowledge,’ Mr Swann continued.

‘We’ve never offended children or parents. It seems like a very weird decision; it’s a community centre.

‘We’ve had to move premises to continue doing our life drawing. It seems they are not pleasing the community they are serving. It’s a very archaic attitude towards what we are doing.’

Model Hilary Curtis added the centre’s response was ‘puritanical’.

She said: ‘I think it’s disappointing. It’s regarded as a challenge that artists use to practice their observational drawing skills.’

A spokesperson for the Hampstead Community Centre said the life drawing class was sandwiched between two children’s sessions.

They said: ‘Safeguarding concerns had been raised in respect of the external hire of the centre for a Life Drawing class that was being held between two regulated children’s sessions.

‘This was therefore a simple scheduling decision reflecting our duty as trustees to balance the needs of the centre’s many users and activities.

‘When the hirer told us that he did not want to use the centre in the evenings (for which he was offered a discount), we did posit whether a figure drawing class might be an alternative solution should he prefer to continue with a daytime booking.

‘There was certainly no prudishness involved – the trustees are very comfortable with nudity in the correct context.

‘The Hampstead Community Centre has successfully hosted Life Drawing Classes for several decades in the evenings with wide support from the local artistic community and we look forward to continuing to do so in the future.

‘We are of course sorry that we were unable to accommodate the hirer’s requests on this particular occasion but we were pleased to hear that he was able to secure an alternative venue without there being any disruption to the weekly class that he continues to operate.’

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Serious crash closes road near Dartford Crossing causing travel chaos

Traffic queueing on the A2 in Kent after a serious crash near Dartford.
The A2 has severe traffic delays after the crash near Dartford Crossing (Picture: National Highways)

A driver was injured after a serious crash near the M25 in Kent.

The A2 has shut in Kent after a collision near Gravesend this morning.

A car rolled over after a crash involving two vehicles which happened between the A277 (Gravesend) and the M2 junction 1 (Rochester).

The A2 remains closed eastbound.

Road closes near Dartford/M25 after car rolls over
The A2 is eerily quiet eastbound after the serious collision in Kent (Picture: National Highways)

All emergency services are on the scene, National Highways said.

Driver of one of the vehicles sustained a leg injury, Kent Police said.

The force told Metro: ‘Patrols and highways officers are currently at the scene where one of the vehicles has overturned and the driver is reporting a leg injury.’

Traffic is queueing in both directions, causing long delays stretching towards Rochester and Dartford in the west.

Diversion routes have been put in place.

Traffic analyst Inrix warned: ‘Congestion to Pepper Hill back past Gravesend, and over two miles of onlookers back to the M2 at Strood.

‘Also heavy on the A226 diversion into Higham.’

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Looking at the global market dynamics: Cryptocurrencies, regulatory challenges, and the potential for market abuse

The intertwining of technology with traditional markets has brought both innovation and complexity. As we witnessed in recent market activities, the holiday lull in the US did not stop the wheels of commerce from turning elsewhere.

Futures markets traded in the green, with the Dow, S&P, and Nasdaq futures showing marginal gains, signalling perhaps a cautious optimism or at least a stable pause in a year filled with volatility. However, beneath this surface calm, significant shifts are occurring in regulatory practices and market behaviours, particularly in the realm of cryptocurrencies.

The US financial scene was somewhat muted due to the holiday, but Federal Reserve Governor Michelle Bowman’s comments provided insight into the central bank’s ongoing thought processes. She highlighted a nuanced view of the US economy, acknowledging that while inflation might decline, the risks of an uptick remain, and she needs more assurance before advocating for rate cuts.

This perspective is crucial as it affects not just domestic markets but global ones, with the US dollar index showing a slight decline and gold prices rising, possibly reflecting bets on inflation or a softening dollar.

However, the real intrigue lies in the developments in Asia and Latin America, where the integration of cryptocurrencies into mainstream finance is taking bold steps forward but also encountering significant hurdles.

Thailand’s leap into tokenised securities

Thailand’s Securities and Exchange Commission (SEC) has announced its embrace of crypto, setting the stage for trading in tokenised securities. This move is a testament to the country’s forward-thinking approach to finance, aiming to leverage blockchain technology’s security and transparency to modernise its market infrastructure.

Tokenisation, the process of representing physical or traditional securities in digital form on a blockchain, promises to enhance market liquidity, reduce costs, and increase accessibility. However, this step also comes with its challenges, including ensuring investor protection, navigating regulatory compliance, and managing the inherent volatility of crypto-assets.

The Thai SEC’s initiative could set a precedent for other nations contemplating similar moves, providing a model for how regulatory bodies can balance innovation with oversight.

Also Read: Embracing AI’s promise: Navigating the future of marketing

South Korea’s Upbit in the regulatory crosshairs

In contrast, South Korea’s largest cryptocurrency exchange, Upbit, finds itself under scrutiny. The Financial Services Commission has uncovered over 700,000 violations concerning customer verification, a cornerstone of anti-money laundering efforts. This revelation not only questions Upbit’s operational integrity but also highlights the broader issue of regulatory compliance within the crypto industry.

The swift response from Kim Byoung-hwan, promising a quick conclusion to the case, underscores the urgency with which regulators worldwide are tackling these issues. The outcome of this case could influence how other countries approach similar regulatory challenges, potentially setting stricter standards or leading to more robust compliance frameworks across the industry.

The Argentine scandal: A cautionary tale

The situation in Argentina involving President Javier Milei adds another layer to this narrative. Milei’s promotion of the cryptocurrency $LIBRA on social media, followed by its rapid collapse, underscores the risks of high-profile endorsements in the crypto world. Here, we see not just a market fluctuation but potential market abuse where regulatory oversight might be lacking.

The allegations of fraud filed against Milei highlight the precarious balance between advocating for innovation and ensuring market integrity. The $LIBRA incident, where investors lost millions following the president’s post and subsequent retraction, serves as a stark reminder of the volatility and potential for manipulation in cryptocurrency markets.

This case brings to light several critical points.

Firstly, the power of social media in influencing market behaviour cannot be underestimated. When leaders with significant followings endorse financial products, especially those as volatile as cryptocurrencies, they wield immense influence over market dynamics.

Secondly, it calls for a reevaluation of how public figures interact with financial markets. Should there be clearer guidelines or outright bans on such endorsements to prevent similar occurrences?

Lastly, it emphasises the need for robust regulatory mechanisms that can adapt to the speed and anonymity that blockchains offer, ensuring that the enthusiasm for crypto does not lead to platforms for fraud.

Also Read: Crypto and global finance: A dance of optimism, politics, and market volatility

Looking forward

As we stand at this juncture, the crypto landscape is clearly at a crossroads. On one hand, there’s a push towards integration into traditional finance systems with initiatives like tokenised securities in Thailand. On the other, there’s the cautionary tale of regulatory lapses and potential malfeasance in South Korea and Argentina.

The path forward involves a delicate balance. Regulators must foster innovation without stifling it, providing clear guidelines that protect investors while allowing the market to explore new financial instruments. The industry needs to mature, adopting best practices in compliance and transparency. Investors, too, must become more discerning, understanding the risks associated with these new asset classes.

In conclusion, while the integration of cryptocurrencies into global financial systems offers unprecedented opportunities for growth and democratisation of finance, it also presents significant risks. The cases of Thailand, South Korea, and Argentina illuminate the spectrum of possibilities and pitfalls.

As we navigate this new financial frontier, the lessons learned from these scenarios will be invaluable. They remind us that with great innovation comes the responsibility of great oversight, ensuring that the future of finance is not just innovative but also secure and equitable for all participants.

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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The post Looking at the global market dynamics: Cryptocurrencies, regulatory challenges, and the potential for market abuse appeared first on e27.

Is Vodafone down? Thousands of customers locked out of banking app after outage

Thousands of Vodafone customers locked out of mobile banking after outage
Users attempting to log in to the app this morning were greeted with a message saying: ‘We’re currently experiencing issues with our Digital Services’ (Picture: Getty)

Vodafone customers have reported their apps going down, leaving them locked out of mobile banking.

Users attempting to log in to the app this morning were greeted with a message saying: ‘We’re currently experiencing issues with our Digital Services.’

It adds the company is ‘working hard to fix the issues’.

Outage tracker Down Detector is showing a spike in reports this morning beginning around 6.30am.

Metro has contacted Vodafone for comment.

It comes a day after broadband provider Community Fibre suffered a major outage.

The company, which has 300,000 customers mainly in London and surrounding areas, later apologised for the disruption.

Community Fibre did not specify what caused the issue.

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