UK’s financial sector faces new wave of brute force DDoS attacks September 14, 2022 The UK’s financial sector is experiencing a wave of brute force Distributed Denial of Service (DDoS) attacks, new data obtained through a freedom of information request shows. Hackers are increasingly using brute force tactics to launch cyberattacks against the UK’s financial sector, as they pivot away from using phishing and malware scams, the Financial Conduct [...]
Shares in Naked Wines plummet following shock stock market announcements September 14, 2022 INVESTORS gave Naked Wines a sniff yesterday after two shock stock market announcements – and sent the sommellier back to the cellar. Shares were down almost 40 per cent yesterday after the firm this week announced the departure of a non-executive director after just two weeks and a worrying business update. Wayne Brown, an analyst [...]
Tullow Oil chiefs double down on plans for £1.5bn Capricorn merger September 14, 2022 BOSSES at Tullow Oil yesterday reaffirmed their commitment to a £1.5bn merger with Capricorn – though shareholders in the latter continue to sound the alarm on the possible deal. Tullow announced the deal in June, with CEO Rahul Dhir yesterday saying that the merger has “the potential for material value creation” alongside half year profits [...]
Legal sector hits back at EU calls for regulation of third-party litigation funders September 14, 2022 Lawyers and litigation funders have hit back at EU plans to regulate the third-party litigation financing industry in claiming new rules could limit access to justice. The clashes come after the EU parliament on Tuesday voted overwhelmingly in favour of adopting a report by German MEP Axel Voss calling for new regulation of Europe’s [...]
Abrdn given a sell rating by Deutche Bank after falling off FTSE 100 September 14, 2022 Deutsche Bank has downgraded abrdn to a to-sell stock, after the British asset manager’s revealed dampened earnings last month. The bank is taking on a “more cautious stance on several fronts”, it said in a note today. Abrdn, which has around £508bn under management, lost its hold rating just days after dropping out of the [...]
EU upholds record fine against Google over Android forcing it to cough up £3.5bn September 14, 2022 The EU has largely upheld its record antitrust fine against Google this morning, marking a major blow for the tech giant.
City spotlight on ‘awry’ Naked Wines as shares continue to drop and strategy is reviewed September 14, 2022 Attention in the City is rapidly shifting towards Naked Wines, as a director left after only three weeks in the job, the business warned it is reviewing its plans for the next 18 months and shares tank. The online retailer’s shares dropped by around 30 per cent this morning. Naked Wines, which connects shoppers with [...]
Climate sceptic Bjorn Lomborg’s stark warning: ‘People will rebel against green policies’ September 14, 2022 Climate sceptic Bjorn Lomborg is President of the Copenhagen Consensus and Visiting Fellow at Stanford University’s Hoover Institution. Today he explains in City A.M. why green policies will simply not work. The disconnect between the global elite and the real world is growing by the day. Most people are worn down by the pandemic, food [...]
Desperate small businesses beg government for immediate help as bills spiral out of control September 14, 2022 A range of small businesses said this morning that their energy bills have more than doubled in the past three months alone. Firms are therefore eagerly looking to next week’s expected mini budget for help with soaring bills despite the slight easing in inflation. Lesley So, founder of Derby-based eco-friendly drinks manufacturer So Good Kombucha, [...]
Fundsmith look to liquidate emerging equities trust September 14, 2022 Fundsmith Emerging Equities Trust has called on shareholders to vote in favour of voluntary liquidation as the investment arm feels the sting of a cooling market The board said it has sought the views of its largest shareholders on winding down the £319.4mn emerging markets investment trust and believes that the proposals are in the [...]