Bankman-Fried charged with money laundering in eight further counts from US prosecutors December 13, 2022 Sam Bankman-Fried has been hit by a slew of further charges from US prosecutors today including wire fraud, conspiracy to commit money laundering and campaign finance violations, according to reports. The fresh charges follow claims of fraud from US regulators earlier today that the disgraced former billionaire misled investors and pumped customers’ cash into specialitive [...]
Europe’s largest life sciences laboratory gets one step closer to landing in London December 13, 2022 Planning permission for Europe’s largest laboratory has been submitted today, as London patiently awaits a boost to its life sciences sector. The Canary Wharf Group and Kadans Science Partner, which builds science facilities, have submitted their planning application for the 23-storey tower, which was first announced in March. The pair are reportedly expected to fork [...]
Why banks must get better at managing the risky business of cloud computing December 13, 2022 Cloud computing represents the future of financial sector IT. Its services helped many organisations through the pandemic, supporting mass working and empowering them to reach locked-down customers digitally. But migrating data and systems to third-party datacentres also increases risk, as the Bank of England noted last year. The challenge for IT bosses in the sector [...]
Over-confidence and under-investment: why banks are on the back foot against ransomware December 13, 2022 For unlucky financial institutions, a ransomware attack can seem like a high stakes game of poker. They’re faced with an opponent who claims a winning hand – having potentially encrypted and stolen large volumes of data. But how strong is their hand really? Are they bluffing? Did the IT team manage to pull the plug [...]
Shares dip for British American Tobacco as Supreme Court clear vape ban December 13, 2022 Shares dipped for British American Tobacco this morning after the US Supreme Court blocked an emergency request to put the ban of flavoured tobacco on hold. The court cleared the way for the state of California to push ahead with a voter-approved ban, rejecting a plea from British American Tobacco (BAT)’s Reynolds unit. The arm, [...]
Ofwat offers carrot and stick approach to water firms with £300m innovation fund December 13, 2022 Ofwat will raise the size of its innovation fund to £300m, as it looks to encourage companies to improve customer service.
Vodafone transfers shares in Egypt arm as it simplifies core business December 13, 2022 Vodafone transferred over half of its shareholding in its Egypt business to Vodacom, its African subsidiary, as it simplifies the core business. Under the agreement, the telecoms giant has been issued with 242 million shares in Vodacom and received cash proceeds of €577m in exchange for its 55 per cent shareholding in Vodafone Egypt. Acting [...]
Premier League: Bournemouth is latest club to be bought out by a US businessman December 13, 2022 Premier League strugglers Bournemouth have been bought out by a US-led consortium including actor Michael B Jordan. Owner Maxim Demin has sold his 100 per cent stake in the firm to Black Knight Football Club (BNFC), managed by American businessman Bill Foley. The bid also has a number of high profile backers, including award-winning actor, [...]
China crafts £116bn chips support package as it tackles US curbs with WTO December 13, 2022 China is reportedly crafting a $143bn (£116.5bn) package to support its semiconductor industry, as it tackles new US trading curbs with the World Trade Organisation (WTO). The package would be a major pillar in sustaining its chips sector, which is currently fielding attempts from the US to slow its technological advances. Beijing plans to roll [...]
Amazon delays graduate joiners amid cost cuts December 13, 2022 Amazon has delayed graduate recruitment dates as the e-commerce giant attempts to slim down costs. Students who were due to start in May 2023 have been told they cannot join the US firm until the end of next year, due to the “macroeconomic environment”. The firm has however offered a one-off payment of $13,000 to [...]