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Senior business leaders have welcomed discussions with Angela Rayner over proposals to improve workers’ rights as “positive”, but warned the “devil will be in the detail” of legislation due to be put before Parliament next month.

The deputy prime minister and business secretary, Jonathan Reynolds, met the bosses of major employers including John Lewis, Octopus, BT, McDonald’s and Sainsbury’s in Whitehall on Tuesday, at the start of a consultation over the new government’s plans.

Labour’s manifesto promised to overhaul employment rights, with measures including the right for all “zero hours” workers to be offered a contract in line with their normal hours, and the extension of full employment rights to all workers from day one.

The meeting comes amid concern among employers and business groups that a reduction in flexibility as employers could increase costs and hamper their ability to drive growth.

Several businesses present told Sky News the atmosphere was constructive and friendly, with the emphasis on Ms Rayner and Mr Reynolds explaining what they have planned, and listening to the concerns of employers.

Business leaders are understood to be concerned over how the phasing out of zero-hours contracts will be achieved. It’s a key issue in the hospitality and retail sectors which employ large numbers of younger and part-time workers.

Ministers have proposed that every worker must be offered a contract reflecting typical hours worked over a 12-week period, but there is concern that metric could lock employers into hours irrespective of seasonal fluctuations.

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Employers will argue for the hours to be calculated over a longer period to avoid distortions.

Businesses also argue that to extend the right from day one, they will need to impose longer probationary periods for new employees so they retain some flexibility.

Labour has promised to introduce legislation during its first 100 days in office, which gives them until 20 October, but are expected to continue consulting on measures beyond that date.

Ms Rayner and Mr Reynolds are understood not to have offered any specific timetable for changes they have billed as the biggest overhaul in a generation, but business leaders remain encouraged.

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One said: “None of what Labour is proposing comes as a surprise and we respect that they have a mandate, but the practical delivery will be complex and we can help with it.

“The feeling is this was a positive sign that the government understands the need to consult with business on the things that affect us. The devil will be in the detail, but this was a good first step.”

Another described the atmosphere as friendly and said it was clear the ministers want to be seen to be working with rather than against business.

Ahead of the meeting, Ms Rayner said: “This government is pro-worker and pro-business, and we are committed to working with our brilliant businesses across the country to create a stronger, growing economy and to raise living standards as a result.”

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Specialist teams and online investigators deployed across England and Wales to tackle ‘national emergency’ of violence against women and girls

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Specialist teams and online investigators deployed across England and Wales to tackle 'national emergency' of violence against women and girls

Specialist investigation teams for rape and sexual offences are to be created across England and Wales as the home secretary declares violence against women and girls a “national emergency”.

Shabana Mahmood said the dedicated units will be in place across every force by 2029 as part of Labour’s violence against women and girls (VAWG) strategy due to be launched later this week.

The use of Domestic Abuse Protection Orders (DAPOs), which had been trialled in several areas, will also be rolled out across England and Wales. They are designed to target abusers by imposing curfews, electronic tags and exclusion zones.

The orders cover all forms of domestic abuse, including economic abuse, coercive and controlling behaviour, stalking and ‘honour’-based abuse. Breaching the terms can carry a prison term of up to five years.

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Govt ‘thinking again’ on abuse strategy

Nearly £2m will also be spent funding a network of officers to target offenders operating within the online space.

Teams will use covert and intelligence techniques to tackle violence against women and girls via apps and websites.

A similar undercover network funded by the Home Office to examine child sexual abuse has arrested over 1,700 perpetrators.

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Abuse is ‘national emergency’

Ms Mahmood said in a statement: “This government has declared violence against women and girls a national emergency.

“For too long, these crimes have been considered a fact of life. That’s not good enough. We will halve it in a decade.

“Today, we announce a range of measures to bear down on abusers, stopping them in their tracks. Rapists, sex offenders and abusers will have nowhere to hide.”

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Angiolini Inquiry: Recommendations are ‘not difficult’

The target to halve violence against women and girls in a decade is a Labour manifesto pledge.

The government said the measures build on existing policy, including facial recognition technology to identify offenders, improving protections for stalking victims, making strangulation a criminal offence and establishing domestic abuse specialists in 999 control rooms.

Read more from Sky News:
Demands for violence and abuse reforms
Women still feel unsafe on streets
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Labour has ‘failed women’

But the Conservatives said Labour had “failed women” and “broken its promises” by delaying the publication of the violence against women and girls strategy.

Shadow home secretary Chris Philp said that Labour “shrinks from uncomfortable truths, voting against tougher sentences and presiding over falling sex-offender convictions. At every turn, Labour has failed women”.

Home Secretary Shabana Mahmood will be on Sunday Morning with Trevor Phillips on Sky News this morning from 8.30am.

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The Securities and Exchange Commission publishes crypto custody guide

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The Securities and Exchange Commission publishes crypto custody guide

The United States Securities and Exchange Commission (SEC) published a crypto wallet and custody guide investor bulletin on Friday, outlining best practices and common risks of different forms of crypto storage for the investing public.

The SEC’s bulletin lists the benefits and risks of different methods of crypto custody, including self-custody versus allowing a third-party to hold digital assets on behalf of the investor.

If investors choose third-party custody, they should understand the custodian’s policies, including whether it “rehypothecates” the assets held in custody by lending them out or if the service provider is commingling client assets in a single pool instead of holding the crypto in segregated customer accounts.

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The Bitcoin supply broken down by the type of custodial arrangement. Source: River

Crypto wallet types were also outlined in the SEC guide, which broke down the pros and cons of hot wallets, which are connected to the internet, and offline storage in cold wallets.

Hot wallets carry the risk of hacking and other cybersecurity threats, according to the SEC, while cold wallets carry the risk of permanent loss if the offline storage fails, a storage device is stolen, or the private keys are compromised. 

The SEC’s crypto custody guide highlights the sweeping regulatory change at the agency, which was hostile to digital assets and the crypto industry under former SEC Chairman Gary Gensler’s leadership.