UK regulator orders investment funds to manage liquidity better
By Huw Jones LONDON Some asset managers face sanctions for failing to manage liquidity properly, posing risks to
2023-07-06 07:21
Britain's banks seek government roadmap to tokenise stocks and bonds
By Huw Jones LONDON Britain's role as a leading financial centre is at stake unless it comes up
2023-07-06 07:17
UK Companies Report Signs of Easing Price Pressures, Survey Finds
British firms have reported signs of easing price pressures, even as interest rates rise on the back of
2023-07-06 05:56
Little-Known Russia Wheat Exporter Takes Top Spot in a Year
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2023-07-06 01:17
Canada Suspends Ads on Facebook, Instagram in Feud Over New Law
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2023-07-06 00:47
UK sells government bond with highest yield since 1999
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2023-07-05 18:49
Battling Brexit, some British firms turn to invest in Europe
By Andy Bruce MANCHESTER, England Sick of customs delays and extra bureaucracy since Britain left the European Union,
2023-07-05 18:15
UK business momentum slows in June despite falling inflation -PMI
By David Milliken LONDON Growth in Britain's private sector slowed sharply last month, despite businesses facing lower inflation,
2023-07-05 16:54
Britain to set up real-time bond and stock trading record
By Huw Jones LONDON Britain's financial watchdog proposed a real-time record of stock and bond prices on Wednesday
2023-07-05 07:48
Jake Paul gambling advert banned by watchdog as YouTuber has 'strong appeal to under-18s'
Jake Paul is arguably one of the most well-known influencers in the world right now, but unfortunately for gambling firm Ladbrokes, the YouTuber-turned-boxer’s widespread appeal has landed them in a bit of trouble with the UK’s Advertising Standards Authority (ASA). The independent advertising watchdog, which regulates the advertising industry, enforces rules drawn up by the Committee of Advertising Practice (CAP), which has some pretty strict rules when it comes to gambling ads. In addition to requiring said adverts to be “socially responsible” and “protect children … from being harmed or exploited”, the CAP’s code states marketing communications must not be “likely to be of strong appeal to children or young persons, especially by reflecting or being associated with youth culture”. “They must not include a person or character whose example is likely to be followed by those aged under 18 years or who has a strong appeal to those aged under 18,” it reads. After Ladbrokes shared a promoted tweet in February featuring Paul – following his defeat to Tommy Fury – in which Twitter users were encouraged to vote on “what’s next for Jake Paul”, a single complaint was made to the ASA as to whether it may be in breach of the Code. Responding to the ASA’s enquiries, the betting company noted the advert contained no calls to action, promotions or links back to its website – and was “age-gated” so only users who had confirmed their age as being over 18 could see it. Sign up to our free Indy100 weekly newsletter The ad was specifically targeted at users aged 25 and over, receiving close to 16,500 impressions with just over 47 per cent of these being from individuals aged between 20 and 29 years. Ladbrokes also cited demographics for Paul’s following across several social media platforms, showing that the percentage of users aged between 13 and 17 years old was below 20 per cent on Instagram, YouTube and TikTok. On Twitter, zero per cent of his followers were reportedly registered as being under 18. The company also directed ASA to the watchdog’s own guidance on “protecting under-18s” from advertising about gambling and lotteries, in which it states “sports like … boxing … are more adult-oriented and unlikely to be of inherent ‘strong’ appeal” to children and young people. Zing. However, in a decision which saw the regulator uphold the complaint against Ladbrokes, the ASA ruled there was still a responsibility to comply with the rule about not appealing to under-18s because the advert “appeared in a medium where under-18s could not be entirely excluded from the audience”. It continued: “CAP guidance stated that sportspeople involved in clearly adult-oriented sports who were ‘notable’ stars with significant social media and general profiles which made them well-known to under-18s were considered moderate risk in terms of how likely they were to be of strong appeal to under-18s. “We also considered that Jake Paul would primarily be known for making YouTube videos and that he had a large social media following. We acknowledged that he had within the last few years turned to boxing. “However, because of his career on YouTube, we considered that he had a high profile within the sport and was well known outside of the sport and social media.” Although they noted Paul had no followers aged under 18 on Twitter, where the ad was located, the ASA concluded the content creator was still of “inherent strong appeal” to under-18s because “such large numbers” of his followers were in that demographic. They also mentioned Paul’s appearance on the Disney Channel series Bizaardvark between 2016 and 2018 about two teenagers, with the target audience for the show likely to be “around the same age”. As such, they found Paul still had a “strong appeal” to under-18s and that Ladbroke’s advert was “irresponsible”. Not the first time Paul and “irresponsible” have appeared in the same sentence, to be honest… Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.
2023-07-05 07:17
Brazil central bank board nominees defend government's economic policies
BRASILIA President Luiz Inacio Lula da Silva's first picks for key positions in Brazil's central bank, Gabriel Galipolo
2023-07-04 23:20
BYD Picks Brazil for Its First Electric-Vehicle Hub Outside Asia
BYD Co. will invest 3 billion reais ($624 million) in Brazil to build its first electric-car plant outside
2023-07-04 20:52