Data breach could be ‘fatal’ for Open Banking sector, treasury committee chair Nicky Morgan warns June 18, 2019 A single data breach at an Open Banking startup could “fatally” damage the developing sector, Nicky Morgan, the chair of the treasury committee, warned today. Open Banking, which allows users to view all their financial information in one place, relies on customers providing their data to a third party. Read more: Are Britain’s banks closed-minded [...]
Trump hits out at Draghi over ‘unfair’ Eurozone stimulus June 18, 2019 US President Donald Trump has hit out at Mario Draghi, claiming his hints of fresh stimulus made it “unfairly easier” for Europe to compete with the US. Draghi suggested the ECB could cut interest rates or expand its bond-buying programme in a bid to reinvigorate the ailing Eurozone economy. Read more: Euro plunges as ECB [...]
Coast Capital hits out at First Group over ‘defamatory attacks’ June 18, 2019 Activist investor Coast Capital has hit out at First Group for making alleged “defamatory attacks and false statements” in the pair’s public slanging match over the transport giant’s strategy. Coast, First Group’s largest shareholder, has issued a 24-page rebuttal to claims made by First earlier this month, in which it called the investor an “opportunistic, [...]
Old Mutual sacks chief executive over conflict of interest June 18, 2019 Old Mutual has sacked chief executive Peter Moyo following a period of suspension due to a conflict of interest related to an investment firm he founded. The insurer said Moyo’s actions since his suspension in May “contravened his fiduciary duties” to Old Mutual. Read more: Old Mutual suspends chief executive Peter Moyo “Following unsuccessful attempts [...]
Government plans new powers to stop firms exploiting loyal consumers June 18, 2019 The competition watchdog is set to be given new powers to fine companies exploiting consumer loyalty in a crackdown on “subscription traps” and unfair cancellation charges. The government has proposed giving the Competition and Markets Authority (CMA) legal powers to penalise firms without going through the courts. Read more: UK watchdog calls for new powers [...]
City Moves for 18 June – Who’s switching jobs? June 17, 2019 Today’s City Moves includes Keyword Studios, Deloitte and Capita. Keywords Studios Keywords Studios has announced that its chief financial officer, David Broderick, will be standing down from his role, and leaving the group, for personal reasons. Following an extensive search, Keywords has appointed Jon Hauck (inset), currently group financial controller and treasurer at FTSE 100 [...]
England v Afghanistan: Used Old Trafford pitch and Rashid Khan’s magic the key for visitors June 17, 2019 On the face of it England’s World Cup game against Afghanistan tomorrow comes at an opportune moment. With opener Jason Roy sidelined by a torn hamstring for a few games at least and captain Eoin Morgan recovering from a back spasm, it appears the perfect time to play the side bottom of the group table and without [...]
Fires in the Gulf: How a tiny waterway worries international oil traders June 17, 2019 Oil prices soared four per cent last Thursday as observers reported seeing smoke rising from a Norwegian oil tanker off the coast of the UAE. Later, reports emerged that a second tanker, the Japanese-owned Kokuka Courageous, had also taken damage and its 21 crew were evacuated. It happened as Japanese Prime Minister Shinzo Abe was [...]
Square Mile to get electric charging hub by end of year as part of Sadiq Khan’s EV push June 17, 2019 The Square Mile is to get a new electric charging hub by the end of this year as part of Sadiq Khan’s push to expand London’s electric vehicle infrastructure. The London mayor has today set out plans to deliver five flagship charging points over the next few years, with the first one installed in the [...]
Net-zero carbon advocate Lord Deben cleared in conflict of interest probe June 17, 2019 The government’s climate adviser Lord Deben has been cleared of wrongdoing after accusations his advice to government benefited companies which were clients of a family-run business. Sancroft, an environmental consultancy which Lord Deben chairs, was paid £600,000 by clients which “stood to make millions from his advice to ministers”, the Mail on Sunday alleged in [...]