Plus, what happens when the world's population shrinks?
   
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By Andrew McFarlane

 
 

Employment takes a hit from the pandemic

 
 
A man walks past a job centre in Manchester

The number of UK workers on payrolls fell by 649,000 between March and June, according to the Office for National Statistics. It puts the number of people claiming work-related benefits - including the unemployed - at 2.6 million. But there are warnings official figures do not paint the full picture.  The Resolution Foundation think tank argues the reduction in average hours worked is a better indicator of unemployment. Meanwhile, almost 30% of companies expect to cut jobs in the next three months, according to a British Chambers of Commerce survey of 7,400 firms.

There are fears, too, for employers. Banks say up to 800,000 businesses could go bust in the next year if they are unable to defer repayments on government-backed loans. Industry lobby group TheCityUK is proposing a student loans-type scheme - administered by HM Revenue and Customs - where coronavirus loans can be converted into a tax debt repayable over a decade, and only when and if the businesses could afford it.

 
 
 

Major accounts hacked in Bitcoin scam

 
 

In what's being described as an "unprecedented smash and grab", the Twitter accounts of billionaires Elon Musk, Jeff Bezos and Bill Gates were among those used by hackers in an apparent Bitcoin scam. Accounts with millions of followers - including those of former US President Barack Obama, Democratic presidential candidate Joe Biden and rapper Kanye West - requested donations in the cryptocurrency. "Everyone is asking me to give back," a tweet from Mr Gates' account said. "You send $1,000, I send you back $2,000." 

The incident forced Twitter to stop many verified accounts from tweeting altogether. "Early suggestions are that someone has managed to get hold of some sort of administration privileges and bypassed the passwords of pretty much any account they want," says our cyber-security reporter, Joe Tidy. It's unclear how much the hackers have made - as cyber-criminals often add to their own Bitcoin wallets to feign legitimacy. But records show the link displayed in the tweets received hundreds of contributions totalling more than $100,000 (£80,000).

 
 
 

'Thousands fighting for holiday refunds'

 
 

If you're waiting for a refund after the coronavirus pandemic scuppered your holiday plans, you're not the only one. Consumer organisation Which? has built a dossier of 14,000 complaints from people struggling to get back their money for cancelled flights or holidays. It describes the situation as a "damning indictment of the behaviour of many airlines and holiday companies in recent weeks". Among those forced to wait months is Lynn Fox, who says she needs the £6,700 refund from Virgin Holidays to make ends meet after being made redundant. Our report spells out your rights to refunds.

 
 
 
 

What happens when the world's population shrinks?

 

Falling fertility rates could mean most countries see their populations shrink by the end of the century. The world will have to begin to reckon with the consequences of a smaller, older population. For lower-income countries, a falling birth-rate could spell better living standards. A smaller number of children each get a bigger piece of the pie, whether that's health or education. 

But in countries where fertility rates have already been falling for years, shrinking further could cause problems. These countries will have to work out how to care for a growing older population, with fewer younger people to work as carers and to pay into the system.

 
 
 
 
 
  Read full analysis >  
 
 
 
 

Rachel Schraer

Health reporter, BBC News

 
 
 
 
 

What the papers say

 
 
Composite image showing Daily Express and Metro front pages

Some papers have high hopes that a coronavirus vaccine could be available as early as September. The Daily Telegraph says the first phase of human trials of a vaccine being developed in Oxford suggest it generates an immune response against the virus. The Times says two trials elsewhere have yielded positive results. However, it cautions that evidence of an immune response does not necessarily indicate protection against infection. Other papers poke fun at ministers over "mixed messages" about the wearing of face coverings in stores selling takeaway food. "They don't have a Scooby Doo," complains the Daily Star. The Metro carries a picture of Chancellor Rishi Sunak sporting a mask on a trip to Pret a Manger after cabinet colleague Michael Gove had failed to wear one when visiting the same chain a day earlier. "You really couldn't mask it up," it complains. Read the review.

 
 
 

Daily digest

 
 
   

Parliament PM suggests York as temporary home during refurbishment

 
   

Child abuse Huge rise in reports of online images

 
   

Coronavirus Call to infect volunteers in vaccine hunt

 
   

Trump Brad Parscale replaced as campaign manager

 
 
 

If you watch one thing today

Flow Adepoju
Seven tips for looking for a job
 
 
 
 

If you listen to one thing today

Bloodsport podcast logo
The biggest Olympic scandal of all time?
 
 
 
 

If you read one thing today

Three contributors who describe life under a second lockdown
'How we’re surviving a second virus lockdown'
 
 
 
 

Need something different?

 
 

Still mulling a foreign holiday this summer? Confused over the rules on quarantine at home and abroad? Take our quiz to see if your knowledge is up to date.

 
 
 

On this day

 
 
   

1993 MI5 holds its first ever photocall after 84 years of secrecy

 
 
 

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