Lloyd’s of London investigates possible cyberattack October 6, 2022 Lloyd’s of London has launched an investigation into “unusual activity on its networks” that could possibly be linked to a cyberattack. The centuries-old insurance marketplace said it has “turned off” all external connectivity and has begun “resetting the Lloyd’s network and systems” as a “precautionary measure,” whilst it investigates the possible hack. “We have informed [...]
Hundreds of thousands of nurses to vote on strike over pay in historic ballot October 6, 2022 Britain’s largest nursing union will poll hundreds of thousands of its members today over strike action, the biggest ballot in its 106-year history. The Royal College of Nursing union is campaigning for a pay rise of five per cent above inflation, which currently stands at 9.9 per cent – the highest in around 40-years. Around [...]
Exclusive: Most business managers don’t think it’s their job to help staff with cost of living woes October 6, 2022 Most business leaders do not see it as their responsibility to support staff with financial woes. New figures exclusively shared with City A.M. this morning from financial wellbeing Mintago lifts the lid on a lack of strategy for British firms during the cost of living crisis. Surveying 762 managers, almost 40 per cent said they [...]
High-cost lenders pose ‘increased’ risk as cost of living rises, FCA warns October 6, 2022 High cost lenders need to tighten their lending criteria as cash-strapped Brits turn to debt to cope with the rising cost of living, the financial watchdog has warned.
Mini budget market turmoil partly triggered BoE emergency intervention, dep governor says October 6, 2022 Market volatility that followed chancellor Kwasi Kwarteng’s mini budget last month partly forced the Bank of England to step in to stabilise UK debt prices and prevent a crisis in the pensions sector, one of its top officials said today. After Kwarteng slashed taxes by £45bn and signalled a borrowing surge on Friday 23 September, [...]
Amazon to pay staff £500 cost of living payment as union urges tech giant to do more October 6, 2022 Amazon will make a one-off payment of up to £500 for its hourly paid employees to help them with the cost of living crunch while it attempts to fend off union criticism on pay. Employees will receive two instalments of £250, one this month and one later in December. It comes as Amazon has received [...]
Big pay for Big Tech: Facebook UK staff bank £134k a year on average October 6, 2022 Despite reports that tech firms are facing job cuts and a slowdown of hiring, new filings reveal that the average salary for a Facebook employee in the UK hit £134,000 last year. Facebook’s headcount climbed 37 per cent to 5,148 in the UK, with the wage bill up to £693m in 2021. This made the [...]
Viasat and Inmarsat $7.3bn merger could choke competition in wifi market, says CMA October 6, 2022 Viasat and Inmarsat’s $7.3bn (£6.4bn) merger faces further scrutiny from the UK’s competition watchdog over concerns it will choke competition in the aviation sector’s on-board wifi market. The Competition and Markets Authority said today that with both companies having a strong presence in the aviation market, the deal would remove a significant element of competition [...]
Diageo toasts ‘good start’ to year as drinkers’ thirst resilient despite economic slump October 6, 2022 Guinness owner Diageo has raised a glass to resilient demand for drinks despite a consumer spending slowdown. In a brief trading update on Thursday morning, the London-listed beverage giant said it had made a “good start” to its 2023 fiscal year. Chief executive Ivan Menezes noted “organic net sales growth across all regions” as the [...]
Construction firms clear backlogs before downturn hits October 6, 2022 Construction firms are clearing a huge backlog of work, but the sector is on course to shrivel in the coming months as it is whacked by soaring interest rates, a closely watched survey published today. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) purchasing managers’ index (PMI) for the construction industry swung [...]