3. Business – Page 702

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How to invest £500 in 2025 like billionaire Warren Buffett

Image source: The Motley Fool

Anyone new to investing can learn a lot from the sound advice of Warren Buffett. The 95-year-old billionaire is considered the world’s greatest investor, transforming his firm, Berkshire Hathaway, into a $1.1trn super-giant, despite only starting with just $105,100 in 1956.

Having a hundred grand to kick-start an investing journey is undoubtedly advantageous. Yet, Buffett’s strategy and tactics are still applicable for even the tiniest of investors starting with just £500 today.

So how can new investors take this small lump sum and transform it into something far more substantial?

There are two key lessons from Buffett that every novice investor needs to know, in my opinion:

“Rule #1 is never lose money. Rule #2 is never forget Rule # 1”.
“Evaluate companies within your circle of competence”.

Not every investment Buffett has made has been a success. In fact, there have been some painful mistakes over the years. But by being informed, having some healthy scepticism, and avoiding speculative or reckless investments, the risk of making painful errors can be drastically reduced. That’s how Buffett applies his ‘Rule #1’.

The second bit of advice is equally as important. Investors don’t need to buy shares in complex bleeding-edge sectors like biotech or exploration-stage mining to make money. Instead, Buffett’s always stuck to the industries that are easy to understand. And some of his most successful investments, like Coca-Cola, have come from these simple sectors.

In other words, by investing exclusively in industries and companies that are easy to understand, investors can drastically reduce risk from ignorance.

With all that said, what are some shares that new investors can consider for potentially solid long-term returns?

There are never any guarantees with any investment since even the most promising of enterprises have to navigate unique risks and challenges. Having said that, one UK Buffett-style stock that I’ve got my eye on right now is Premier Foods (LSE:PFD).

Premier’s business model is as straightforward as they come. It buys raw ingredients, manufactures food products, and then leverages its branding power to sell them at a premium. And today, 89% of British households buy at least one of its products each year, with an estimated 70% repeat customers.

In other words, the firm’s brands often find themselves on families’ weekly shopping lists. And with international expansion efforts underway in Australia, Europe, and North America, management‘s seeking to replicate its UK success abroad.

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November 23, 2025

This famous perfume entrepreneur’s only regret is selling her name

Ms Jo Malone CBE, British perfumer and founder of fragrance brands Jo Malone London and Jo Loves.

Mike Green, CNBC

Ms Jo Malone CBE became a millionaire after selling her namesake perfume brand in 1999, and decades later has only one regret: never being able to use her name again.

Malone founded fragrance brand Jo Malone London in 1990 and sold it to the Estée Lauder Companies nine years later — along with the rights to use her name in any business.

“I don’t look back and think to myself: ‘If I’d waited another five years, I could have made double the amount,’” the 62-year-old British entrepreneur said on an episode of CNBC’s “Executive Decisions” podcast with Steve Sedgwick.

But she added: “I think the one thing I regret — and they [Estée Lauder] may not have bought the company [without it] — is the use of my name. That’s a struggle, even today.”

‘I feel the law needs to change, actually’

Under British law, when you sell a business built on your name, you usually sell the goodwill and the right to use that name, Simon Barker, partner and intellectual property head at Freeths law firm, told CNBC Make It.

Once you’ve sold the business, using your name for a similar business could cause consumer confusion and breach your contract or infringe any trademarks the buyer now owns.

It could also amount to “passing off” — a British legal concept that stops someone from misleading the public into thinking their goods or services are connected to another business.

Malone’s later businesses only use her first name to ensure they don’t violate her agreement with Estée Lauder. These include her luxury fragrance brand Jo Loves and, more recently, her alcohol brand Jo Vodka.

While the sale of her first brand made her wealthy, Malone said sacrificing her name was “the hardest thing.”

“I don’t want to cause any problems, but I feel the law needs to change, actually, in this, because people are selling their businesses with their names, and if you’re saying you can’t use your name for the rest of your life, that’s a lifelong non-compete,” she said.

“I think the law is going to have to look at the way businesses are sold and how that non-compete comes in,” she added.

‘Contractual restrictions trump everything’

Malone is one of a number of British entrepreneurs who have sold an eponymous brand only to regret it later.

Fashion designer Karen Millen sold her business in 2004, and agreed not to use her name in a competing business globally. She later challenged the restrictions, but a court ruled that using her name would cause consumer confusion.

Meanwhile, Elizabeth Emanuel, the designer behind Princess Diana’s wedding dress, sold her business — including the rights to use her name — to a company that later transferred those rights to new owners. When she tried to stop them from using “Elizabeth Emanuel,” the courts ruled that the sale meant the new owners legally controlled the name and trademark.

“Contractual restrictions trump everything,” lawyer Barker said. “They go on the top of everything. So if you say: I won’t use my name for a competing business, then the new buyer can enforce that covenant against you.”

It’s a similar story across the Atlantic. American makeup artist and entrepreneur Bobbi Brown also sold her namesake cosmetics company to Estée Lauder in 1995 and was contractually obliged not to use her name commercially in a way that would compete with the brand.

While the U.S. has similar laws preventing entrepreneurs from breaking contractual obligations, it also has the “right of publicity,” which is a law that the U.K. doesn’t have.

This “protects against the unauthorized commercial use of somebody’s name, image or likeness,” Barker explained. “Where the difference lies is that you’ll almost certainly lose the right to use your name for similar goods or services because of the contractual restrictions, but the right of publicity might still allow you to control other uses of your name and advertising or endorsements.”

Negotiate your contract

Malone advised young entrepreneurs and first-time founders to think twice before selling the rights to their name.

“I would say to people, anyone that is looking at acquisition, especially if your name is attached to your business, think through all the implications first,” Malone said. “Think about those things, because you will sacrifice things, and you will have to give and yield, and you will gain something else, but never do it solely, just for money.”

Barker adds to this that you can negotiate what’s in the contract before selling the business, including perhaps changing the name. However, there are some caveats, as oftentimes, without the original name, the brand doesn’t retain as much value in acquisitions.

He said founders should consult advisors and potentially ask for “watered-down restrictions.”

“But of course, it’s not always as simple as that, because somebody will be waving many millions of pounds at you,” he added. “And if you say: ‘I want all of this,’ they’re likely to turn around and say: ‘Well, we’re not going to give you as much then.’”

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November 23, 2025

Fire alert: the fake ‘Amazon TV stick’ that opens the door to fraudsters | Scams

The big fight is on TV on Saturday night but you really don’t want to shell out to watch it on pay-per-view. Luckily, you bought a cheap Amazon Fire Stick online that gives you access to all the sports you want as well as TV streaming services.

While the quality of the picture is not brilliant, you are saving on monthly subscriptions and the one-off fees to watch big sporting events. The stick was a bargain – or so you think.

In fact, using a “modded” Amazon Fire Stick in your laptop or TV can give criminals an open door to your bank details and passwords, putting you at risk of losing thousands and having your identity traded over the web.

A recent survey from BeStreamWise, a UK initiative established to counter the problem, found two out of every five people who used illegal streaming were defrauded. They lost an average of almost £1,700 each as a result.

“Illegal streaming might look like a quick way to save money, but … it’s a false economy that can end up costing people thousands,” says DCI Emma Warbey of the police intellectual property crime unit (PIPCU) at City of London police.

“This is a crime that diverts funds away from the entertainment industries – money that supports thousands of technical and support staff. At the same time, it exposes end-users to the risks of data theft, cybercrime and fraud.”

The modded or “jailbroken” devices are Amazon Fire Sticks with extra software added that can be bought for about £20 on the internet.

The growing use of them has led to a crackdown by the Federation Against Property Theft (Fact), which has been carrying out raids across the UK to stop supply.

The genuine article: a legitimate ad for the Amazon Fire TV Stick. Photograph: PR Image

In one case, according to BeStreamWise, a man who was streaming illegally had his bank details stolen twice and someone tried to buy a boat in his name.

What the scam looks like

The sticks are sold through social media and illegal streaming sites, often advertised as being jailbroken with promises of free TV shows, sports and films.

The potential for fraud happens the minute you put the “dodgy stick” into a laptop or TV, according to Rob Shapland of Cyonic Cyber, an ethical hacker who shows companies where there are gaps in their security systems.

“Alongside the stream [of TV or sports] it will also install some malware on to your computer and give the criminal direct access to your computer so [they] could use it as if they were sitting there,” he says.

“Or they can install keyloggers which will record any password you are typing. So when you are accessing online banking, it will record your banking passwords. You are essentially volunteering to have your laptop hacked in many cases.”

Often the stick will come with instructions which appear to be how to install the software but are actually ways to bypass virus detectors.

When you plug the device into a TV, it can access other devices, such as laptops, through the home wifi network that they are all attached to, says Shapland.

“It might ask you to log in with your Google account and then you are giving your credentials to the app and that is then sent off to the criminals. Most people tend to reuse the same password so once they have one password, they have access to a hundred different things.”

Some sticks may ask for a small monthly subscription. Setting up the payment means criminals can use your credit card details in any way they want.

What to do

Once you know that the device you are using is illegal, you should remove it from your devices immediately.

Buying a ‘modded’ USB stick online means you are ‘essentially volunteering to have your laptop hacked in many cases’, says ethical hacker Rob Shapland of Cyonic Cyber. Photograph: Andrew Brookes/Getty Images/Image Source

The next step is to change the passwords on any important sites and apps – such as banking, investments, pensions and PayPal – says Shapland. Turn on multifactor authentication to bolster security.

Undo any changes to anti-virus software made by the software on the stick. Then run a virus scan, available for free online, on your laptop.

If you have been defrauded, it is likely that the damage was done when the stick was first plugged in, says Shapland.

In the UK, contact Action Fraud, the national fraud reporting centre, and report what happened to your bank.

Amazon said people had been convicted in connection with the sale of modded devices and the company would continue to work with the authorities to stop the sales. “Piracy is illegal, and customers should not buy these devices,” said the company.

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November 23, 2025

SharpLink Gaming (SBET) Is Down 12.6% After Surging to Profit and Revenue Growth in Q3 – What’s Changed

SharpLink Gaming reported third quarter 2025 earnings showing revenue and sales of US$10.84 million, up dramatically from US$881,690 a year earlier, and shifted from a net loss to net income of US$104.27 million.
This marks a very large increase in both revenue and profit for the company over the prior year quarter.
We’ll examine how SharpLink Gaming’s exceptional turnaround in quarterly profitability shapes its current investment narrative.

Outshine the giants: these 26 early-stage AI stocks could fund your retirement.

For those considering SharpLink Gaming, the latest earnings release marks a significant moment. The company delivered a striking turnaround, swinging to a US$104.27 million net income following a string of losses and posting quarterly revenue that outpaces recent annual totals. This earnings shock could reshape earlier narratives that focused on persistent unprofitability, heavy past dilution from fundraising, and the untested nature of its quickly rotating leadership team. Positive short-term catalysts may now include greater investor confidence, improved financing options, or momentum behind its blockchain initiatives. However, big risks persist: the scale and source of the sudden profit may raise questions, particularly given last quarter’s multi-million dollar loss, and the history of share issuance may remain a concern. Whether this surge signals lasting change or just a one-off remains to be seen, but it has undoubtedly shaken up the story for both bulls and bears.

But risks linked to recent dilution and share offerings could still linger after the profit headline. Despite retreating, SharpLink Gaming’s shares might still be trading 32% above their fair value. Discover the potential downside here.

SBET Community Fair Values as at Nov 2025

Nineteen fair value estimates from the Simply Wall St Community highlight values ranging from just US$0.02 to a very large US$60,161.54. With opinions diverging this widely, consider both SharpLink’s impressive quarterly profit and the potential risks around past dilution before reaching any conclusions on its future.

Explore 19 other fair value estimates on SharpLink Gaming – why the stock might be worth less than half the current price!

Disagree with this assessment? Create your own narrative in under 3 minutes – extraordinary investment returns rarely come from following the herd.

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November 23, 2025

Evaluating Valuation After Strong Q3 Results and Upbeat AI-Driven Guidance

Veeva Systems (VEEV) delivered strong third-quarter results, beating revenue and earnings estimates while sharing an upbeat outlook for the rest of the fiscal year. The company is highlighting continued strength in its core software operations and growing adoption of Veeva AI.

See our latest analysis for Veeva Systems.

Despite impressive third-quarter results and upbeat new guidance, Veeva Systems’ share price took a sharp hit, falling nearly 10% in a single day, as investor jitters about future growth tempered enthusiasm. Even after this pullback, Veeva still boasts a 12.7% total shareholder return over the past year and remains solidly in positive territory for 2025. However, recent momentum has faded and the five-year total return lags the broader market.

If you’re interested in how other healthcare technology innovators are delivering growth and navigating changing markets, check out See the full list for free.

Given the mixed reaction to Veeva’s earnings beat and guidance hike, the central question for investors is clear: does the recent pullback signal an undervalued opportunity, or is the market fully pricing in Veeva’s growth trajectory from this point forward?

With the narrative’s fair value estimate of $320.62 sitting well above Veeva’s recent closing price of $244.06, there is a notable gap between the broader analyst consensus and where the market stands today. This invites a closer look at the high-conviction logic propelling this valuation.

The resolution of the long-standing dispute with IQVIA removes critical data interoperability barriers. This enables Veeva to fully integrate industry-leading datasets into its Commercial Cloud, which should materially expand its addressable market, improve product adoption across multiple commercial applications, and accelerate top-line revenue growth over the next several years.

Read the complete narrative.

Want to see what’s fueling this bullish narrative? There’s a bold blend of margin expansion, faster revenue growth, and a projected profit trajectory rarely seen in healthcare SaaS. Curious which assumptions are powering that premium? The full narrative spells out the aggressive financial blueprint behind this value call.

Result: Fair Value of $320.62 (UNDERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, persistent competitive pressures or slower than expected adoption of Veeva’s new AI products could quickly challenge this optimistic view.

Find out about the key risks to this Veeva Systems narrative.

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November 23, 2025

NVIDIA’s (NVDA) “Doubters Really Have a Lot of Thinking to Do,” Says Jim Cramer

We recently published 10 Stocks Jim Cramer Talked About. NVIDIA Corporation (NASDAQ:NVDA) is one of the stocks Jim Cramer discussed.

This show was aired the day after AI GPU designer NVIDIA Corporation (NASDAQ:NVDA) reported its earnings for its third fiscal quarter. The results saw the firm report $57 billion in revenue and $1.30 in earnings per share to beat analyst estimates of $54.9 billion and $1.25. Heading into the earnings, Cramer had asserted that NVIDIA Corporation (NASDAQ:NVDA) was still the “gold standard” and outlined that if the firm managed to smoothly launch its latest Vera Rubin chips, then “there might be a level where I say hey listen we own it from a very low basis.” During this appearance, he discussed NVIDIA Corporation (NASDAQ:NVDA) CEO Jensen Huang’s comment about a new “wave” of agentic AI systems that were capable of reasoning and analysis. Huang believes that the transition to generative AI is necessary for businesses, and the transformation to agentic and physical AI will be revolutionary. As he discussed NVIDIA Corporation (NASDAQ:NVDA) after the earnings, Cramer started by admitting that he was left short of words for a brief while:

NVIDIA’s (NVDA) “Doubters Really Have a Lot of Thinking to Do,” Says Jim Cramer

“Last night, I went out to dinner and came back. For a couple of hours I thought what am I going to say today, it’s such a different narrative from what we hear. And I think that what we heard last night was, these companies aren’t spending enough. Everytime they spend, they make much more money. So they’re trying to get as many chips as they can. Which is the opposite of what we’re hearing. The circular analysis, David, there was, they’re ready to sell anything they want to. They’re up on almost everything. They’re good investors, so the idea that there’s this Lazy Susan circular nature, is defeated. And the notion, where we are in the world is far different from what people think. Far further and we’re getting there. You know and the reason I start with this to you David, is because he’s saying look the world is going to change so rapidly in the next three years and it’s all gonna be software written on NVIDIA. I found that to be, I’m not saying that’s revolutionary, that’s too strong, but the doubters really have a lot of thinking to do. Including people who say bubble AI, who . . .don’t know about the revolution that’s occurring.

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November 23, 2025

Carlo Mole,

Laura Gaynor and

Joseph Lee

BBC/SpunGold TV/Getty Images A composite image showing Miles Hart on a private plane with a glass of champagne on the left hand side of the image, tinted in tones of red and orange, while on the right hand side of the image is a picture of Glastonbury's Pyramid Stage, in tones of blue and green. Rising up from the bottom of the image, as if from the crowd in front of the stage, is a mass of pound signs. — Miles Hart struck deals to sell £1m of Glastonbury tickets – then vanished

Miles Hart had a reputation as a guy who could get anything. Friends from the elite private school he used to attend say he once surprised them with an all-expenses-paid trip to Paris on a private jet with less than 24 hours notice.

So when he started selling Glastonbury tickets, hospitality passes and VIP Access All Areas passes – claiming he had privileged access because of land his family owned near the festival site, or by working with a company at the event – many of his former schoolmates jumped at the chance.

Within a couple of years, his sales had gone global, as he struck deals to sell about £1m of passes to punters who had missed out in the annual scramble for official tickets on the Glastonbury website.

But as the day of the 2024 festival approached, Miles’s promises of tickets proved to be a mirage, created out of false invoices and fake email addresses. Miles, now 27, went into hiding.

How did Miles Hart get away with it? The BBC has spoken to some of his former friends to trace the rise of a scammer brazen enough to lie to his dead friend’s family and to run up tens of thousands of pounds in unpaid debts to his godmother along the way. Behind him, he left a trail of destruction: debt, anger and threats.

‘Crazy amounts of money’

Miles Hart was sociable, clever and witty – the joker of the group. That is how he is remembered by some of his former friends at Millfield School, which is famous for producing multiple Olympians and sports stars such as Formula One driver Lando Norris.

The £12,000-a-term school in Somerset is just a few miles from Glastonbury Festival’s famous Pyramid Stage. “Everyone wanted to be there. Miles was someone who could get you in,” says Elle, who knew him from the age of 10.

Millfield School An exterior view of Millfield School, showing an old stone building in the sunshine, with blue skies behind it and large trees to each side. In front is an immaculately mown lawn cut with a diamond pattern. — Miles got friends into Glastonbury when they all attended nearby Millfield School

Glastonbury Festival is one of the hottest tickets in the world, usually selling out within minutes. The festival says only tickets bought from its official seller See Tickets are valid and they are linked to photo ID to keep them out of the hands of touts.

But if anyone could offer an alternative way in, they would be able to demand a high price.

Elle says Miles got her a wristband for entry one year and they went to the festival together. After they left school, he began selling tickets.

Seb, another former Millfield pupil two years older than Miles, says he bought a ticket from him for the 2022 festival, the first one since Covid.

He says Miles had told him he had 42 hospitality tickets to sell, which he had been given because his family rented out land for luxury tents at the festival. “I thought it was like an exclusive opportunity and I really didn’t want to miss out,” Seb says.

But two days before the festival, after chasing Miles for months, Seb says he contacted Glastonbury Festival to confirm the allocation of hospitality passes. The festival told him it had never heard of Miles. Seb’s attempted calls to him afterwards were declined.

“I had heard anecdotally that he was partying in Paris and that made me feel incredibly bitter,” Seb says.

BBC/SpunGold TV Miles Hart, a young man with short brown hair, wearing a quarter-zip blue top, sitting in a cream leather seat on a small, luxurious jet, with a glass of what appears to be champagne in front of him. — Friends wondered how Miles could afford his extravagant lifestyle

Elle’s best friend Cian had also given Miles money for tickets that year and asked for her help in getting it back. Then other mutual friends got in touch to ask Elle if she knew Miles, saying they had also been scammed.

A few months later, Cian died suddenly from a heart attack. Elle and another friend flew out for the funeral in New Zealand, where Cian’s family are from. Cian’s mother asked Elle to get Miles to pay back the £500 he owed, to help with the funeral costs.

Miles sent a voice note saying the money was already in the post. But three years on, the family have received nothing.

In 2023, Miles was at it again, selling Glastonbury tickets to about 50 people and failing to deliver. Kate, another of Miles’s old friends, says she was added to a WhatsApp group with former school friends and acquaintances who said they had been ripped off.

More people in their social circle were added, Kate says. Some said Miles had borrowed money and not repaid it, while one person posted a receipt from a London nightclub with a staggering bill, saying: “Where’s your friend? He owes me £200k.”

People speculated about how Miles maintained his extravagant lifestyle; Kate and Elle wondered if their surprise trip to Paris the previous year had been paid for with “scammed money”.

A selection of WhatsApp messages from a group chat: "Miles is scamming more and more people", "15 years of friendship and he scammed me, how could he do that?", "This list is getting big?", "Where's your friend? He owes me £200k", "We are dealing with a real pro", and "I'm just so angry" with three angry face emojis and a fire emoji.

“Everyone knows someone who knows someone who’s been scammed by him,” Elle says. “And all the whilst he was doing this, he was going on like really crazy bougie holidays and spending crazy amounts of money that probably wasn’t his.”

Elle says this is the moment when she decided she wanted to find out how far the lies had gone.

But Miles was about to pull off his biggest scam yet.

‘Shut the whole thing down’

In the run-up to Glastonbury 2024, some punters who had missed out on the official sale were trying to score tickets from two other sources: an Ibiza promoter called Kai Cant who had put out an Instagram story saying he could get hospitality tickets for £1,350, and a company called Star Gaze Entertainment.

Both of them had, in turn, been promised the tickets by Miles Hart.

One of Kai’s customers, a DJ called Danny, was told that Miles had said he ran a catering firm working in the hospitality areas at the festival, which gave him access to tickets. Danny was also told that Miles had said his mother, Susannah Hart, could get tickets through her connections as a local councillor, and that she was not someone who would ruin her reputation by becoming involved in anything shady.

In fact, Somerset councillors have no special access to Glastonbury Festival and Susannah Hart had no involvement in Miles’s ticket schemes.

One of the people who worked at Star Gaze as a summer job, Will, told the BBC he had sold hundreds of thousands of pounds worth of tickets for the company, but he did not know who was supplying them.

Getty Images Glastonbury Festival in 2024, showing the Pyramid Stage at night where Coldplay are performing. Bright lights are shining back at the crowd, who have their hands raised in the air, several waving flags, others making the peace sign with their fingers, and many wearing LED wristbands distributed by the band which give off a blue glow. — Glastonbury tickets are in huge demand and usually sell out within minutes

In total, customers of Kai and Star Gaze spent almost £1m on Glastonbury tickets to be supplied by Miles Hart.

With weeks to go, Will says the calls and emails to Star Gaze from people asking where their tickets were had become incessant. In group chats, Kai’s customers were also suspicious they had been ripped off.

“If this was all a big scam, would I be on the phone to you now?” Miles said in one voice note message to a panicked Kai.

Miles said he did not want to entrust the tickets to the postal system, so he arranged to meet Kai’s customers in hotels across England to hand them over personally. Will travelled to meet him at a pub in Glastonbury to pick up the Star Gaze customers’ tickets.

They waited for hours with no sign of Miles, in Glastonbury or at any of the hotel meet-ups. Customers could not reach him because he had always phoned them with his caller ID hidden.

Danny says his phone suddenly received a call from a hidden number and he knew it was Miles. “I’ve had problems with my phone,” Miles said to explain his silence. He said the tickets had fallen through because “Glastonbury have found out about them and shut the whole thing down”.

BBC/SpunGold TV Danny, a man with short blond hair and a beard, who wears a patterned shirt in neutral tones and black rimmed glasses, pictured in a room dimly lit by lamps. — Danny, a DJ, was told by Miles the ticket sales had fallen through because Glastonbury had found out

Miles was next seen in a clip on social media – with someone confronting him in the street and demanding his tickets or a full refund of £10,000 by the next day. “Yeah, I’ve agreed to that,” Miles is heard to say.

And then, he vanished again.

‘Physical harm’

Elle wanted to understand the extent of Miles’s deception, so we travelled with her to meet his godmother, Annamaria.

Years earlier, when Miles’s mother Susannah was going through a divorce and was suffering financially with the mortgage and school fees, Annamaria had stepped in. She contributed to the school fees and took over the mortgage, intending to help the family renovate and sell their home.

She says that Susannah Hart ended up owing her £300,000 in total, but that Susannah had refused to sell the house or to resolve the financial issues. Three court cases and three appeals later, and Annamaria ended up owning the house. Susannah Hart did not respond to the BBC’s requests for comment.

When Annamaria put the house up for auction in 2023, to her surprise Miles was at the sale. He bid and won the house, giving a cheque of £90,000 for the deposit. But three days later, the cheque bounced.

She sold the house to someone else, but under the rules of auctions, Miles still owes her the money. “To this day, I don’t understand why he did it,” Annamaria says.

In the house clearance, Annamaria found a box file filled with documents. She showed it to Elle: it contained dozens of bank cards in different names – the names of Elle’s friends.

BBC/SpunGold TV Elle, a young woman with long, dark hair, wearing a black sleeveless dress, with golden earrings and a golden necklace, looking pensive as she leans against the railing of a rooftop balcony and looks out at the city below on an overcast day. — Elle discovered Miles had bank cards in the names of many of their friends

Elle spoke to her friends who said that, in the first year of university, Miles had asked several people if they wanted to make an easy £100. He told them he would sign them up for a bank account, send them the referral fee and cancel the card.

Criminologist and financial crime expert Dr Nicola Harding told Elle that instead of cancelling the cards, it appeared that Miles had made their friends into “money mules” – people whose bank accounts are used by scammers to quickly create a chain of transactions and make illicit cash harder to track.

“I can’t believe that he would, like, put those people – specifically that he was so close to – I just can’t believe he put them in that position,” Elle says.

Other people felt the fallout from Miles’s deceptions. Kai Cant went into hiding in Spain, saying on Instagram the scam had left him with debts of £500,000 and put his life at risk. And the new owner of Miles’s home told the BBC how he and his wife had been threatened after their address had been posted online.

Speaking anonymously, he said they had been visited by debt collectors, bailiffs, people owed money and, on one occasion, two “very large men” who appeared to want to “cause us physical harm”.

The new owner has now installed eight security cameras, automatic number plate recognition, facial recognition and a network of lasers to detect intruders. “It really is like Fort Knox,” he said.

‘An honest person’

So where is Miles now? The BBC obtained a covert recording of Miles meeting an unknown man, apparently on the pretext of carrying out a business deal.

In the recording, Miles says he is working for a client who has a “huge cash flow issue” and needs a loan. But Miles claims the client has assets worth almost a billion euros.

The man asks about Miles’s role and Miles admits he has “debt that needs to be paid”. “I was involved in something that went wrong,” he says.

Miles gives an account of how the festival ticket sale went wrong and says one group of customers are angry, but the rest are willing to wait for their money.

The other man then says: “What if I told you that I represent one of these groups? Some of the nastier groups. There’s a lot of people wanting blood.”

He warns Miles that the debt – £480,000 to the group the man says he represents – is not going away, and Miles promises to pay within 56 days. “I am an honest person,” Miles says.

BBC/SpunGold TV A composite image showing three photos of Miles, one smiling broadly on a night out with friends, one inside a plane, and in the last image, sitting at a cafe table outside in a square with ornate buildings, wearing a pair of yellow-tinted sunglasses and a suede jacket. — Miles’s whereabouts are unknown – but he said there were “errors” in the allegations against him

That recording was made last summer, but the BBC understands Miles has not refunded anyone.

Kai Cant said he has paid back everyone who bought tickets through him. Star Gaze Entertainment has shut down and Benjamin Harris, the company boss, cannot be found.

The Metropolitan Police said it is investigating up to 50 allegations of ticket fraud relating to Glastonbury 2024.

Miles Hart was contacted for comment and said, through lawyers, that there were numerous “material errors” in the allegations made against him and that some of the people who spoke to the BBC “cannot be relied upon to represent an accurate portrayal of events”.

His whereabouts are unknown, and he was last spotted at a pub near Glastonbury, a few days before this year’s festival.

This story is part of BBC Scam Safe Week, which brings together content from across the BBC to help the public stay informed in the fight against scams

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“Oracle’s (ORCL) a Legitimate Question,” Says Jim Cramer

We recently published 10 Stocks Jim Cramer Talked About. Oracle Corporation (NYSE:ORCL) is one of the stocks Jim Cramer discussed.

Like CoreWeave, Oracle Corporation (NYSE:ORCL) also provides computing infrastructure to AI software firms. However, unlike CoreWeave, Cramer has started to discuss the firm almost daily. The CNBC TV host’s comments about Oracle Corporation (NYSE:ORCL) revolve primarily around the firm’s remaining performance obligations (RPOs). The shares, which were up 97% year-to-date at one point, have trimmed the gains to 26% since early September. Oracle Corporation (NYSE:ORCL)’s stock had soared after the firm revealed in its fiscal Q3 earnings that its RPOs stood at an unbelievable $455 billion. While Cramer was initially stunned by the announcement and commented on September 10th that “I couldn’t believe it when I heard it. I thought they were making this stuff up,” he has gradually formed an opinion since then.

“Oracle’s (ORCL) a Legitimate Question,” Says Jim Cramer

During this appearance, he discussed Oracle Corporation (NYSE:ORCL) after co-host Carl Quintanilla mentioned a WSJ report about the firm never having given up gains this large this fast and being the most indebted company with an investment grade rating:

“The Oracle, look Oracle’s a legitimate question, I felt better about OpenAI after last night.”

While we acknowledge the potential of ORCL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

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November 23, 2025

UK gambling firms spent ‘astronomic’ £2bn on advertising last year | Gambling

British gambling companies spent an “astronomic” £2bn on advertising and marketing last year, according to a new estimate that has intensified calls for the chancellor to increase taxes on the sector.

Bookmakers, online casinos and slot machine companies spent the sum through a mixture of print and digital promotions, as well as affiliate programmes, where third parties are paid to steer gamblers towards particular operators in return for a fee.

The figure, produced by the leading media insights group WARC, far outstrips the £1.2bn that the Treasury collected last year from online casino companies.

Media industry sources said the total spent on gambling advertising is likely to be hundreds of millions of pounds higher because it is difficult to accurately measure the actual amount of digital marketing spend.

That means that the true figure could be close to, or even higher than, the £2.5bn raised last year by the three main duties that the industry pays, which also include taxes levied on slot machines and sports bets.

The chancellor, Rachel Reeves, is under pressure from thinktanks, MPs and former prime minister Gordon Brown to raise these duties at Wednesday’s budget, as she attempts to raise funds to shore up the ailing public finances.

The Betting and Gaming Council (BGC), an industry group that has lobbied hard against any such move, disputed WARC’s estimate, claiming that industry ad spend was closer to £1bn.

This estimate is significantly less than a 2018 figure of £1.5bn given by Regulus Partners, a consultancy favoured by the gambling industry.

As Reeves considers whether to raise gambling duties – and by how much – the higher estimate fuelled calls to ignore industry warnings about the potential impact of a tax rise.

Meg Hillier, the chair of the influential Treasury select committee, said the industry’s spending undermined claims made by its lobbyists, in an occasionally tense evidence session with her committee, that tax rises could have devastating consequences for jobs and growth.

She said: “Unfortunately, the fact that we are told the existence of gambling firms is on a financial knife-edge while they simultaneously plough billions into advertising does not come as a surprise.

“During our session with the BGC, we were warned that any increase in gambling taxation could lead to 40,000 job losses.

“It’s important that the government does not cave into this industry scaremongering.”

Alex Ballinger, a Labour MP who has campaigned for tougher regulation and taxation of gambling companies, said the £2bn figure was an “astronomic sum”.

“Perhaps gambling firms should think about cutting back on adverts that nobody wants to see before pushing back against paying fair taxes on their vast profits particularly given the harms they cause,” he said.

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However, leading gambling industry analyst Alun Bowden, of Eilers & Krejcik Gaming, said that any reduction in advertising spend might have unintended consequences, helping illicit operators to gain more of a foothold in the UK market.

“Marketing spend is the main way to mitigate costs and would be the first thing to be cut [if taxes rise], but there is a reason for marketing spend in the first place,” he said.

“If you reduce advertising spend significantly then you give more parity to black market operators who are increasingly spending more on SEO [search engine optimistation], affiliates, streamers and social media.”

James McDonald, the director of intelligence at WARC, said: “The gambling sector has grown to become a significant force in the advertising market, spending more than industry stalwarts such as automotive and cosmetics in recent years.”

“While TV spend is a major focus, social media platforms are also core to the sector’s marketing strategy.”

Will Prochaska, the director of the Campaign to End Gambling Advertising, said: “One would think that if the sector is asked to pay a bit more tax in the upcoming budget that they could cut back on their ad-spend rather than lay off all their employees in betting shops, or further reduce what they payout to customers, but that’s a choice for them.”

A BGC spokesperson said: “These claims are misleading as the betting and gaming industry spend on advertising, excluding lotteries, is around £1bn, and has actually declined over recent years.

“Crucially, 20% of all broadcast and digital advertising is dedicated entirely to safer gambling messaging, a voluntary commitment made by the UK industry.

“Further tax rises would simply drive more consumers towards the growing black market that offers no age checks, no safer gambling tools and no tax contribution, while undermining advertising spend that differentiates the regulated market that supports over 11,000 jobs, contributes £506m to the UK economy, and provides £138m a year to British sport through sponsorship.”

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November 23, 2025

Category: 3. Business

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Negotiate your contract

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Fire alert: the fake ‘Amazon TV stick’ that opens the door to fraudsters | Scams

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NVIDIA’s (NVDA) “Doubters Really Have a Lot of Thinking to Do,” Says Jim Cramer

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Inside the rise of a £1m Glastonbury tickets scammer

‘Crazy amounts of money’

‘Shut the whole thing down’

‘Physical harm’

‘An honest person’

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“Oracle’s (ORCL) a Legitimate Question,” Says Jim Cramer

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UK gambling firms spent ‘astronomic’ £2bn on advertising last year | Gambling

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