Fintech darling Monzo urges 500,000 users to change PINs after security bug August 5, 2019 Digital challenger bank Monzo has urged users to change their PINs after admitting a data breach allowed members of staff to access security information. The fintech said around a fifth of customers were affected by the leak, which saw some PINs stored in encrypted log files that Monzo engineers had access to. Read more: Losses [...]
Regulator opens probe into City broker SVS Securities as it falls into administration August 5, 2019 Stockbroker SVS Securities has collapsed into administration and will face a regulatory investigation amid “serious concerns” about its business. Administrators at Leonard Curtis have been appointed to take control of the City-based broker and are exploring options including a sale, the Financial Conduct Authority (FCA) said in a statement. Read more: UBS becomes first broker [...]
Donald Trump admits ‘more has to be done’ in wake of mass shootings August 5, 2019 Donald Trump has admitted that “perhaps more has to be done” to tackle America’s gun problem after two mass shootings took place over the weekend. The president was speaking after two separate incidents in the US claimed the lives of 29 people. Read more: Far-right website 8chan down as Cloudfare pulls support after mass shootings [...]
London prime property prices make slight recovery August 5, 2019 London’s prime property market made a slight recovery in the second quarter of this year, with prices edging 3.1 per cent higher than the end of 2018. Property prices returned to levels last seen 12 months ago, indicating that the bottom of the market may have been reached. Sales activity picked up 21.4 per cent [...]
Tesco Metro prepares to slash 4,500 jobs August 5, 2019 Tesco is set to slash around 4,500 jobs across all of its 153 Metro stores, the company announced today as it battles with a tough retail environment. The cutbacks will reduce processes and administrative tasks across the stores, it said. Read more: Ocado and M&S share prices drop as they complete £750m online delivery deal [...]
Watchdog says ‘bad apples’ still able to find new jobs in financial services August 5, 2019 Financial services employees with poor conduct records are still able to move to new companies, despite efforts by the regulator to improve conduct in the sector. A review by the Financial Conduct Authority (FCA) found that “rolling bad apples” continued to be an issue in the sector, despite the introduction of new tougher regulations. The [...]
Philip Day tables bid to avoid Jack Wills administration August 5, 2019 British billionaire Philip Day is taking on rival bidder Mike Ashley to keep struggling retailer Jack Wills out of administration. Day’s Edinburgh Woollen Mill Group’s (EWM) offer for the “preppy” fashion brand would seek to avoid a pre-pack administration, it was revealed as the bidding war between the two retail tycoons entered its final hours. [...]
Titanic shipyard Harland and Wolff sinks into administration August 5, 2019 Historic Belfast shipyard Harland and Wolff is expected to enter administration later today, putting 130 jobs at risk. The company’s owner, Norwegian firm Dolphin Drilling, had filed for bankruptcy in June and put the yard up for sale, but no buyer has been found. Read more: UK manufacturing sector records worst month in six years [...]
BBA Aviation profits down amid aerospace industry struggles August 5, 2019 Aerospace services firm BBA Aviation shares fell this morning as it announced a slight deterioration in first half profits. The firm, which provides the global aviation industry with fuelling, ground handling and passenger services, said a cooling sector was partly to blame for the results. Read more: Cobham founding family says takeover ‘against national interest’ [...]
Ofcom clears Channel 4 News over Jon Snow’s ‘white people’ comment August 5, 2019 Ofcom has cleared Channel 4 News of wrongdoing after presenter Jon Snow remarked he had “never seen so many white people in one place” during a Brexit rally. The regulator received 2,600 complaints that Snow’s comment, made at the end of the programme, was racist and offensive. Read more: BBC gets Ofcom approval to stream [...]