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When Elle Middlemas turned 18, she began wondering whether she owned a Child Trust Fund (CTF) – a government‑backed savings account created for children born between 1 September 2002 and 2 January 2011. Her search hit a dead end; she could not confirm if she was entitled to any money and an email to HMRC yielded no response.Middlemas, a Whitby college student, explained that the loss of her mother at age 11 left her with little guidance. “My sister is 21 and spent three years looking for a fund and found nothing, so we assumed we didn’t have one,” she said, expressing the frustration felt by many of her peers.She and her sister are part of an estimated 758,000 people aged 18‑23 who have unclaimed CTFs. Collectively, these dormant accounts hold roughly £1.5 bn, a substantial sum that disproportionately belongs to low‑income families who are often unaware of its existence.Advocates are now pressing the government to automatically release CTFs when holders reach 21 years of age. Experts estimate that such a policy could inject up to £286 m directly into the pockets of young people who need it most.Middlemas finally learned of her entitlement after a conversation with a friend’s parent six months after her birthday. She discovered the Share Foundation, a charity that helps reconnect youths with their funds, and located a NatWest account bearing her name.“I had £700 sitting in my bank and thought, ‘What is going on?’ My sister also had one but never knew how to access it,” she recalled. The sisters plan to use the money to support university expenses and repay debts, underscoring the tangible impact of the scheme.The CTF programme was launched by the Labour government in 2005 to encourage parental savings. Every child received a £250 government contribution, with an additional £250 for those from low‑income families or in local authority care. Parents could add up to £9,000 per year, and any investment gains accrued until the child turned 18.If a parent failed to open an account within 12 months of birth, HMRC would create one on the child’s behalf. Today, the average value of a CTF stands at about £2,200.More than two‑thirds of the six million original recipients are now over 18 and eligible to claim their funds, with HMRC‑allocated accounts representing 28 % of all CTFs.Geographically, the North‑East of England has the highest concentration of HMRC‑allocated accounts, totalling £48 m. Across the UK, youths from the most disadvantaged 15 % of families hold accounts averaging £2,900 in value.Gavin Oldham, chief executive of the Share Foundation, warned that the scheme is hampered by poor communication, limited financial education, and “policy neglect”. He indicated the charity is considering a judicial review to compel the government to release the unclaimed assets.Oldham noted that the charity has already linked “well over 100,000 accounts to young adults”, yet the “sheer quantum of these unclaimed accounts remains a major problem”.“It is strange to find a government which expresses concern over youth poverty while doing so little to deliver on a groundbreaking scheme,” Oldham added.The charity’s proposal to release HMRC‑allocated funds automatically at 21 would free roughly £500 m, including £350 mOldham cautioned that a legal challenge, while potentially successful, could delay payouts for years, leaving vulnerable youths “denied their birthright for far too long”.Beyond immediate release, the Share Foundation is urging the creation of a new, targeted scheme for low‑income youths that embeds a financial‑awareness component, allowing participants to top up their funds through education‑linked incentives.Labour MP Laura Kyrke‑Smith echoed these concerns, describing the CTF system as “confusing and opaque” and calling for proactive tracing of account holders and clearer public information.HMRC responded that it is “directly sending every eligible young person information to help them find their child trust fund”, while also raising awareness via social media, broadcast interviews, and an online tracing tool. The agency added that banks, building societies, and investment firms managing the funds share responsibility for communicating with account holders.

Universal Music Group (UMG), the world's largest music company, has received a takeover offer from billionaire Bill Ackman's hedge fund, Pershing Square. The deal values UMG at over €50bn (£44bn). Pershing Square, based in New York, has offered a cash and stock deal to acquire the business, which is home to renowned artists such as Taylor Swift and Elton John.Ackman stated that while UMG, led by British-born Sir Lucian Grainge, has done an excellent job in nurturing its artist roster and generating strong business performance, its share price has lagged due to issues unrelated to the performance of its music business. He specifically mentioned the delay in UMG's US listing, underutilization of its balance sheet, and uncertainty around the French conglomerate Bolloré Group's 18% stake in the company.Shares in UMG, listed in Amsterdam since 2021, have lost more than a quarter of their value in the past year. The company is one of the 'big three' record labels, alongside Sony Music Entertainment and Warner Music Group, with a diverse roster ranging from classical music to stars like Adele, Drake, and Ariana Grande.Ackman also cited a 'lack of investor credit' in the company's valuation of its €2.7bn stake in the music streaming service, Spotify. Pershing Square, which Ackman established in 2004, controls over $26bn in assets and bought a 10% stake in UMG in 2021.As part of the proposed deal, Pershing Square would add Michael Ovitz, a veteran talent agent, as chair, along with two representatives from Pershing Square to UMG's board. The deal would also involve a new employment contract and compensation arrangement for Sir Lucian Grainge. Under the terms, UMG would merge with a blank-cheque company set up by Pershing Square and then list on the New York Stock Exchange. Shareholders would receive a total of €9.4bn in cash and 0.77 shares in the new company for every Universal share they own, representing a 78% premium compared to the company's closing share price on Thursday.

Iraq's head coach Graham Arnold was given a rapturous welcome in Sydney after leading the Arab team to their first FIFA World Cup in 40 years. Hundreds of Iraqi football fans gathered at Sydney airport, chanting his name, waving flags, and singing to the beat of drums and tambourines.The 2-1 victory over Bolivia in the intercontinental playoff final came during a tumultuous time in Iraq, engulfed in the Middle East conflict. Despite the challenges, Iraq overcame a logistical nightmare and strong South American opposition to mark their return to the global showpiece event for the first time since 1986.Arnold, who formerly coached Australia, took charge of the Iraqi team in May and led them to three wins, three draws, and two losses in their World Cup qualification campaign. The Iraqi community in Australia ensured the coach didn't feel left out of the celebrations, with fans chanting 'Arnie, Arnie, Arnie, oi, oi, oi' as he spoke to local media.Arnold expressed his pride in the players, saying, 'I'm just very, very proud of the players and what they did, making many Iraqis happy is very important and that was the main thing.' Iraq will face a tough group at the World Cup, with opponents including France, Norway, and Senegal.

Stephen Curry marked his return to the court after a two-month absence with a strong performance, scoring 29 points for the Golden State Warriors. However, his efforts were not enough to secure a win against the Houston Rockets, who edged the Warriors 117-116 in San Francisco.The Rockets' Alperen Sengun sealed the victory with a go-ahead interior hoop with 11.1 seconds remaining. This win moved the Rockets within one game of the Los Angeles Lakers and Denver Nuggets in their three-team duel for third place in the Western Conference.In his first return to San Francisco as a member of the Rockets, former Warriors star Kevin Durant poured in a game-high 31 points for Houston, along with 8 assists and 8 rebounds. Curry, who had missed 27 straight games since a January 30 injury, played 26 minutes and hit 11 of his 21 shots. He also had a 5-for-10 effort from three-point range.Despite Curry's strong return, the Warriors' Brandin Podziemski backed him with 18 points. The Warriors have virtually assured themselves of the 10th seed in the Western play-in tournament. The Rockets won their sixth straight game, led by Sengun's 24 points and Durant's impressive all-around performance.

President Donald Trump announced that the US military has successfully rescued a missing American fighter jet crew member from a remote part of Iran. The Air Force officer went missing after his F-15 jet was downed on Friday, with the pilot being quickly rescued, but a search had to be launched for the F-15's weapons systems officer. In a Truth Social post on Sunday, Trump wrote that the US had rescued the second airman, described as 'seriously wounded, and really brave,' from 'deep inside the mountains of Iran.' A firefight between US and Iranian forces reportedly took place in Kohgiluyeh and Boyer-Ahmad province before the rescue, though Iran has not confirmed this. The rescue mission involved two raids, with the pilot being rescued in 'broad daylight' during the second raid. Trump noted that the type of rescue mission that recovered him 'is seldom attempted because of the danger to man and equipment.' The operation reportedly involved dozens of aircraft carrying 'lethal weapons.' Iran had also been racing to locate the airman, with Tehran calling on the public to hand over the soldier to the authorities. Iran's Islamic Revolutionary Guard Corps claimed that Iranian forces had destroyed two C-130 aircraft and two Black Hawk helicopters during the operation. This incident is part of a broader conflict that has resulted in the loss of 13 US service members and wounded over 300, according to the US military's Central Command. The US has lost several military assets, including three F-15 fighter jets in a friendly fire incident over Kuwait and a military refueling aircraft over Iraq.

Ukraine's military has launched a significant drone strike on Russian energy infrastructure in the Black Sea, targeting the port of Novorossiysk. According to Ukrainian drone forces commander Robert Brovdi, the overnight attack hit the Admiral Makarov missile carrier in the port, which serves as Russia's largest oil exporting outlet on the Black Sea.The attack is part of Ukraine's broader strategy to disrupt Russian energy exports and reduce Moscow's revenues. Ukraine has increased its attacks on Russian energy infrastructure in recent weeks, aiming to halt Russian oil exports and impact the Russian economy.Russian authorities reported that at least eight people, including two children, were injured in Novorossiysk. Videos posted on Telegram showed a fire at one of the oil port's docks. Novorossiysk Mayor Andrei Kravchenko stated that debris from drones had fallen on two locations in the city, including a residential area.Russia's military claimed that air defense units had downed 148 Ukrainian drones over a three-hour period. The Caspian Pipeline Consortium (CPC) terminal, located in the Novorossiysk port area, exports oil from Kazakhstan and has major US oil companies, such as Chevron and ExxonMobil, as shareholders.The attack on Novorossiysk comes amid a series of Ukrainian drone strikes on Russian oil infrastructure. On the previous day, Ukrainian drones struck Russia's Baltic Sea port of Primorsk and the NORSI oil refinery in Nizhny Novgorod. These attacks are part of Ukraine's efforts to reduce Moscow's revenues from oil sales, which are crucial for the Russian economy.In response to the attacks, Russia's Ministry of Defence accused Ukraine of deliberately targeting the CPC terminal to inflict economic damage on its largest shareholders, including US and Kazakh energy companies.

Limited‑Time Ticket SavingsStarting today and ending at 11:59 p.m. PT on Friday, April 10, the event offers a discount of up to $500 per ticket. Assuming a standard ticket price of roughly $1,500, the discount represents a 33% price reduction, a significant incentive for early registration.Event OverviewDate: October 13–15, 2026Location: Moscone West, San FranciscoExpected Attendance: 10,000 founders, investors, and operatorsStartups Exhibiting: 300+Key Competition: Startup Battlefield 200 with a $100,000 equity‑free prizeKey HighlightsThree days of roundtables, Q&A sessions, and fireside chatsSide events hosted by official Disrupt partners to extend networking beyond the main agendaOpportunity for emerging companies to win a substantial cash prize that can fund product development without equity dilutionFeatured Speakers & ParticipantsPast line‑ups have included industry leaders such as Matt Mullenweg (WordPress co‑founder), Vinod Khosla (venture capital legend), and co‑founders Phoebe Gates and Sophia Kianni of Phia, alongside executives from Google Cloud, Netflix and Waymo.How to RegisterVisit the official event site to lock in the discount before the deadline. The limited‑time offer ensures that early registrants secure the maximum savings, while ticket prices will rise as the conference approaches.

The organiser of the Wireless Festival has reaffirmed that Kanye West, legally known as Ye, will appear on the bill, even as senior UK officials and Jewish organisations demand his exclusion over a series of antisemitic statements and admiration for Adolf Hitler.West’s controversial remarks, including a 2025 song titled “Heil Hitler” and the promotion of a swastika‑bearing T‑shirt, have drawn condemnation from MPs and prompted calls for a government ban. Bridget Phillipson, a senior minister, described his comments as “completely unacceptable and absolutely disgusting,” while Prime Minister Keir Starmer called the booking “deeply concerning.”Melvin Benn, managing director of Festival Republic, the promoter behind Wireless, said the artist is “intended to come in and perform” and stressed that the festival will not provide a platform for “extolling any opinion,” only for the songs that are popular on radio and streaming services. He added, “I am a deeply committed anti‑fascist… I lived on a kibbutz attacked on 7 October and support both a Jewish and a Palestinian state.”In a personal appeal, Benn invoked his experience with a family member’s mental illness, urging the public to extend “forgiveness and hope” to West, whom he described as seeking “second chances” in a “divisive world.” He also asserted that West has a legal right to enter the UK, though ministers are reviewing his entry clearance.Jewish leaders remain unconvinced. Phil Rosenberg, president of the Board of Deputies of British Jews, warned that Benn’s comments “will not reassure many within the Jewish community” and highlighted that West has “proclaimed himself a Nazi” while the festival stands to profit from his appearance.Political opposition has also weighed in. Liberal Democrat leader Ed Davey called for a ban on West’s entry, urging the government to act “tougher on antisemitism.”Commercial fallout has been swift. Pepsi and Diageo have withdrawn their sponsorship, and AB InBev announced it is pulling Budweiser and Beatbox support. PayPal confirmed it will no longer feature in the festival’s promotional materials.West has not performed in the UK since headlining Glastonbury in 2015, and his recent full‑page apology in the Wall Street Journal attributed his inflammatory remarks to bipolar‑1 disorder stemming from a 2002 car‑crash injury. Nonetheless, critics argue that a three‑day stage slot does not constitute a meaningful path to “health and healing.”

A federal appeals court has ruled that New Jersey gaming regulators cannot prevent Kalshi from allowing people in the state to use its prediction market to place financial bets on the outcome of sporting events. The decision marks a significant victory for Kalshi and similar prediction market operators.The three-judge panel of the Philadelphia-based third US circuit court of appeals ruled 2-1, finding that the US Commodity Futures Trading Commission (CFTC) has exclusive jurisdiction over the sports-related event contracts that Kalshi allows people to trade on its platform.This ruling is a major setback for states like New Jersey, which had argued that firms like Kalshi were operating without required state licenses, in violation of gaming laws, including bans on wagers by those under 21. New Jersey had sent Kalshi a cease-and-desist letter last year, stating that its listing of sports-related event contracts on its platform violated state gambling laws.Kalshi had sued the state, arguing that its event contracts qualify as “swaps”, a type of derivative contract, that under the Commodity Exchange Act can only be regulated by the CFTC, which had granted the company a license to operate a designated contract market (DCM).The ruling was in line with the position advanced by the CFTC under Donald Trump’s administration. The regulator sued Arizona, Connecticut, and Illinois last week to prevent them from pursuing what it called unlawful efforts to regulate prediction markets.“Congress gave the CFTC exclusive jurisdiction over trades on DCMs, and this decision affirms the goals of Congress,” said Brooke Nethercott, a CFTC spokesperson.However, US circuit judge Jane Richards Roth dissented, saying Kalshi was facilitating gambling and that its “offerings were virtually indistinguishable from the betting products available on online sportsbooks, such as DraftKings and FanDuel”.The New Jersey attorney general's office said it was evaluating its options, including potentially asking the full third circuit to rehear the case.