The £30 hack which could unlock “millions” of Volkswagen cars August 12, 2016 Researchers have more bad news for embattled Volkswagen. The car marker, which found itself at the centre of a global emissions scandal last year, is the subject of an academic paper which says a large number of its vehicles sold since 1995 can be easily unlocked by hackers. And all hackers need to unlock a Volkswagen car — which [...]
Checking out: non-exec director waves goodbye to Morrisons after Ocado deal August 12, 2016 Irwin Lee, a non-executive director at Morrisons – and chair of the supermarket's remuneration committee – will be leaving the board at the end of August. Lee is stepping down to become the chief executive of Rustan Supercenters Inc, a supermarket chain in the Philippines, his native country. He joined Morrisons in July last year to help [...]
Pinewood board recommends £323m takeover offer August 12, 2016 Lights, camera, action: the board of the iconic studio behind the likes of James Bond and Star Wars has been made a takeover offer offer it can't refuse, valuing it at £323m. In a statement today Pinewood said it was recommending the cash offer by Aermont Capital, which will leave shareholders 560p in cash per share, as well as a [...]
Liam Fox’s new government department just issued – and then deleted – a confusing statement on business and Brexit August 12, 2016 The newly established Department for International Trade has muddied the waters on Brexit by issuing, and then deleting, a statement on the process of leaving the EU. The statement, a cached version of which can still be found here, admits the UK could be left operating on World Trade Organisation rules after quitting the EU, [...]
Labour has won a court victory defending its right to bar some members from voting in its leadership election August 12, 2016 The Labour party has won a court victory over its right to set a "freeze date" barring new members from voting in its leadership election. Five members took Labour to court over their right to vote after the party ruled that only those who were members before 12 January this year. Labour's ruling committee proposed [...]
Three at 3: The three stories you need to read right now August 12, 2016 It’s Friday afternoon – so why bother trawling the internet for something to read? We’ve done the legwork for you, and put together the top three stories of the day in bite size form, just to make your life that bit easier. Check out our three at three. Here kitty, kitty: Cats are taking over [...]
IMF: China faces bumpy road to sustainable growth August 12, 2016 The Chinese authorities face "many challenges" in rebalancing its economy, the International Monetary Fund (IMF) has warned today. Conducting its annual health-check of the world's second largest economy, the IMF said China needed to step up its reforms of the unproductive state owned enterprise (SoE) sector, reform governance rules to promote financial stability and drop [...]
Summer splurge success: Here’s how far JC Penney’s sales increased in the second quarter August 12, 2016 American department store JC Penney announced a sales increase in the second quarter and improved margins. Sales increased by 2.2 per cent; the best performing departments were home, footwear, handbags and the beauty store Sephora. The company was most successful in the Ohio Valley and the Pacific. Gross margin was up 37.1 per cent for the [...]
Here’s how many homes in Manchester you could buy with Paul Pogba’s transfer fee August 12, 2016 You could buy 537 average-priced properties in Manchester with the money that Manchester United spent on Paul Pogba, it turns out. Pogba holds the world record transfer fee after United forked out £89m for the Frenchman – while the average property value is £165,686, according to research from HouseSimple.com. The online estate agency compared the average property [...]
US dollar fades as retail sales stagnate and send sterling back above $1.30 August 12, 2016 The US dollar has sunk after fresh economic data showed the recovery stumbled in July. Retail sales flat-lined in the world's largest economy in July and factory prices defied expectations to fall into negative territory. The pound climbed back above $1.30, up 0.5 per cent on the day, reversing some of the losses from earlier this [...]