Underage teens use Klarna to fund ‘free money’ shopping sprees online

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Teen shopping online cartoon
Teen shopping online cartoon

Teenagers have exploited a credit loophole to go on “free” shopping sprees, it has emerged. Klarna, Britain’s biggest “buy now, pay later” lender, has been forced to over­haul its security system after a 16-year-old girl was able to open an ­account on the website and rack up debts of more than £500 through buying clothes ­online.

As disclosed this week by The Tele­graph’s consumer champion, Katie Morley, the minor was able to set up a Klarna profile by opening an account using her own name but her mother’s date of birth. This fooled the credit check system into thinking the girl and her mother were the same person, even though no one of that name, age and address existed on the electoral roll. It has exposed an alarming security flaw at the increasingly popular ­service, which is strictly for adults.

Klarna, which has seven million British

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Customer Relations Management Gains New Relevance in Pandemic Era

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PARIS — Social distancing may be the new norm, but so, too, is getting up close and personal. While shopkeepers diligently apply bright, new floor markings to regulate store traffic, brands are also busy working behind the scenes to forge deeper, more personal ties with clients.

Customer relationship management has emerged as a key element to pandemic-era strategies as brands and retailers across the spectrum seek to steer their businesses through choppy trading conditions.

“What we are sure of is this crisis will end at some point, and it’s important that the brands actually get out of this tunnel in good shape — in good enough shape at least with their customer assets — the relationship assets — so that if they have cash to restart the engine, they can do that in the best possible way,” said Marc-André Kamel, partner and director

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Creating an online course ‘changed my life’

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Like many others, interior stylist Lucy Gough saw her income disappear when the coronavirus hit and naturally felt anxious about her future prospects.

“Within one week the four shoots I’d been prepping for were all cancelled,” she recalls.

However, rather than do nothing, London-based Ms Gough decided to pivot her business and create an online interior styling course after teaching a similar course at London design school Central Saint Martins.

“Even though I’d wanted to create a course for the last year it wasn’t until lockdown was confirmed and all my income evaporated that I started creating it,” she says.

Covering six modules including shoot styling and home staging, Ms Gough launched the self-paced course in mid-May and within two weeks had already attracted 112 students from as far as Canada and Poland. She estimates that the course might make her £20,000 this year.

“It has changed my life in

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94 Money-Making Skills You Can Learn in Less Than a Year

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Learning a new business skill is an excellent way to break into an industry, make yourself more attractive to employers or earn more money and responsibility in your current career. But between work, family and life, the thought of spending years in a classroom can be overwhelming. Fortunately, you don’t have to. It’s possible to learn many in-demand skills in less than a year — some in just a few weeks or months.

Potential earning increases for adding new skills to your resume are wide-ranging, but the more skill you can bring to the table for an employer, the better your advantage over other candidates, the higher your value in your industry and the more negotiating power you’ll have when discussing your wage or salary. Enrich your career and increase your paycheck with these 94 money-making skills and certifications.

Learning touch-typing or 10-key can improve accuracy when drafting documents and … Read More

Boston Fed President Eric Rosengren speaks with Yahoo Finance [Transcript]

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Eric Rosengren, president of the Federal Reserve Bank of Boston, spoke with Yahoo Finance on June 22 to discuss the Fed’s unprecedented actions taken in the past few months and what lies ahead for the U.S. economy.

Below is a transcript of his appearance:

BRIAN CHEUNG: Thanks Julie, well we are here, virtually of course, with Boston Federal Reserve Bank President Eric Rosengren. Thanks so much for joining us this afternoon, President Rosengren.

ERIC ROSENGREN: Nice to be here with you, Brian. 

BRIAN CHEUNG: So I wanted to start off with a conversation about what you are seeing from the Federal Reserve’s perspective on the shape of the US economy recovery here. You made a speech last week, however, saying that the US has not been “particularly successful” was the language that you used, at containing the virus. I’m wondering: do you see that as threatening the likelihood of a

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