Facebook has explained some of the ways it is trying to tackle fake news December 16, 2016 Facebook has set out some of the ways it is trying to address fake news and hoax stories. Both Facebook and Google have faced strong criticism in recent weeks over a proliferation of false news stories during the US presidential race. The digital giants both promised to crack down on advertising against fake news last [...]
National Lottery owner Camelot fined £3m over fraudulent claim in 2009 December 16, 2016 The Gambling Commission has fined National Lottery operator Camelot £3m over allegations of a fraudulent prize claim in 2009. The commission said today that Camelot had breached its operating licence, with three key problems with its controls relating to databases and other information sources; the way it investigated a prize claim; and its processes around the [...]
Monarch forecasts 35 per cent profit fall amid turbulent trading environment December 16, 2016 Budget airline Monarch has said that profits will slump 35 per cent this year, as it battles a turbulent environment for airlines. It said the year had been a difficult one and that group performance was in line with its expectations, predicting full-year earnings of £48m – down by over a third on last year's of £74m. [...]
BA boss Willie Walsh thinks Air Passenger Duty cut by Scottish government will undermine English airports December 16, 2016 Willie Walsh has some reservations over the Scottish government's intention to halve Air Passenger Duty (APD) by the end of the Scottish Parliament in 2021. He's concerned it'll undermine English airports. The boss of British Airways' owner IAG, said that the move did mark "a major step towards the complete abolition of this stealth tax that [...]
Payments regulator sets out vision for industry-wide approach to protect consumers December 16, 2016 Financial regulators have promised to stamp out payment scams which have cost Britons hundreds of millions of pounds. The Payment Systems Regulator (PSR), a special branch of the Financial Conduct Authority that focuses on banking payments, said today the financial services sector needs to do more to protect consumers. "In a short space of time [...]
These are the average London banker bonuses in 2016 (they’re not happy) December 16, 2016 The average London-based senior M&A banker landed a bonus of £80,000 this year, according to new research. But only 40 per cent were happy with their sweetener. And no wonder – the average was down 20 per cent from £100,000 in 2015. However, it was a different story for those working at the big banks. [...]
The nightmare’s nearly over for the Piccadilly line social media team: It’s just running with “minor delays” now December 16, 2016 Piccadilly line passengers have not been impressed with Transport for London (TfL) taking out half the fleet of trains for wheel repairs. It has been causing severe delays along the line since last month – and some turmoil for the poor people manning the Piccadilly line's Twitter account. But today, the account had some – relatively – good [...]
As the UK ambassador to the EU warns that a Brexit agreement could take a decade to reach, do we need a transitional deal? December 16, 2016 Iain Anderson, co-founder and executive chairman at Cicero Group, says Yes. When was the last time you jumped off a cliff? Never. Sounds like a very sound plan to me. As the UK looks to form new trading relationships with the EU and globally, it is vital that we don’t walk any economic plank. And [...]
Reckitt Benckiser’s Nurofen fine has been tripled by an Australian court after a consumer watchdog appealed December 16, 2016 An Australian court has tripled the fine imposed on Reckitt Benckiser over claims it misled customers over Nurofen to AU$6m (£3.5m). Shares in company behind Durex and Dettol were down 1.3 per cent in early trading. The British drug manufacturer was initially handed a $1.7m fine earlier this year, however, Australia's competition and consumer watchdog appealed [...]
Will it ever end? Southern rail services are axed for the third day this week as commuters vent fury at government December 16, 2016 All Southern rail services have been cancelled for the third day this week, after protests were held last night by fed-up commuters over the crisis. Members of the Aslef train drivers' union had met with the train company yesterday for a second day of talks at conciliation service Acas, but they ended without resolution. So today's [...]