Sony PlayStation Network taken down after hack attack and Lizard Squad claims responsibility December 8, 2014 Hacker group Lizard Squad has claimed responsibility for an attack on Sony's PlayStation network that left some unable to log into the service. The company said its working to fix the problem and greets visitors the site with the message "page not found! It's not you. It's the internet's fault". Sony suffered another attack last [...]
Major investor backs Qatar’s bid for Canary Wharf owner Songbird Estates December 8, 2014 The Qatari sovereign wealth fund and its partner Brookfield's joint £2.6bn bid for Canary Wharf owner Songbird Estates has been provisionally accepted by Madison International Realty. Madison International Realty owns about 2.5 per cent of the company's stock and around 12 per cent of the free-floating shares. This, in addition to an earlier acceptance by [...]
The man who could be kingmaker: Alex Salmond will stand as MP in 2015 December 8, 2014 Former Scottish First Minister Alex Salmond last night made a bold play for a seat around the Number 10 cabinet table, announcing he will stand to become an MP in 2015 and won’t rule out a coalition with Labour if he is elected. Salmond, leader of the unsuccessful Scottish independence campaign, is widely expected to [...]
Premier Foods defends its pay and stay tactics December 8, 2014 Premier Foods promised yesterday to “simplify” its practice of asking suppliers for payments in exchange for doing business with the firm after receiving widespread criticism for the so-called “pay-to-stay” practice. The food company behind some of Britain’s most renowned brands including Mr. Kipling, Ambrosia, Oxo and Bisto, did not apologise for its actions, which it [...]
Big banking sector not a stability threat to the UK December 8, 2014 The size of the UK’s banking system does not – and did not – make the UK vulnerable to large losses in growth in the event of a financial crisis, research released today by the Bank of England shows. Instead, other factors are key to determining the economic impact of banking crises. “The [...]
Bank of England: Brits can cope with higher rates December 8, 2014 ECONOMISTS at the Bank of England believe interest rates can rise from their current historic lows without significantly harming Britons’ spending power. The Bank’s latest quarterly report, published this morning, includes thorough calculations regarding the impact of tighter monetary policy. “Overall, these results do not imply that increases in interest rates from their current historically [...]
No love lost as Clegg hits out at chancellor December 8, 2014 LIBERAL Democrat leader and deputy Prime Minister Nick Clegg ramped up the war of words against his coalition partners yesterday, accusing the Conservatives of needing to “come clean” over their plans for cuts. “Under George Osborne’s approach, once we balance the budget in 2017-18, they would want to pare back the state remorselessly, year in, [...]
Trumpton: Ukip members not getting the Twitter joke December 8, 2014 Some Ukip members have failed to see the funny side of a spoof Twitter account that depicts the party’s members as characters in a 1960s children’s programme, Ukip’s economic spokesperson told City A.M. yesterday. Ukip’s sole Scottish MEP David Coburn last week called for @Trumpton_UKIP to be banned and encouraged his own followers on [...]
City regulator sweats ahead of Davis probe December 8, 2014 The FCA will be opened up to scrutiny this week as a review of its insurance work is published Roman poet Juvenal, one of the world’s first great satirists, left an important legacy in the form of the phrase “quis custodiet ipsos custodes?”. It translates as “who will guard the guards themselves?” The quotation is [...]
Blackstone mulls £1.5bn takeover of drinks bottler December 7, 2014 US PRIVATE equity giant Blackstone Group is considering a £1.5bn takeover bid for Refresco Gerber, Europe’s largest soft drinks bottler, it emerged yesterday. The US investment specialist is among several interested parties weighing up bids for the Anglo-Dutch company. Blackstone’s private equity rival KKR and CVC Partners are also rumoured to be circling, with bids [...]