Marriott International to be fined £99m for data breach July 9, 2019 Hotel chain Marriott is set to be fined more than £99m for a data breach that compromised the personal details of roughly 393m guests. The Information Commissioner’s Office (ICO) today announced its intention to hand down the fine following an “extensive” investigation into the breach. Read more: British Airways set for £189m fine for 2018 [...]
Labour peers resign party whip in protest at ‘institutional antisemitism’ July 9, 2019 A former boss of the Labour Party is one of three Lords to resign the party whip in protest at its handling of antisemitism. Lord Triesman, general secretary of Labour under Tony Blair, resigned on Tuesday afternoon, claiming the party is “very plainly institutionally antisemitic”. The peer, who also served as a junior minister under [...]
Annual fall in suspect share dealing occurring before takeovers, FCA report finds July 9, 2019 Suspect share price movements that occur before takeover announcements and imply insider trading fell to its lowest level in more than a decade last year, the UK’s financial watchdog revealed yesterday. Roughly one in ten takeovers were linked with unusual share price moves over the course of 2018, according to a “market cleanliness” indicator released [...]
Pepsico beats analyst expectations in second quarter results July 9, 2019 Pepsico reported boosted revenue growth and profit today, beating analyst expectations in its second quarter results. The company, which owns brands such as Pepsi, Doritos and Tropicana, said net revenue growth was 2.2 per cent in the second quarter and 2.4 per cent in the year-to-date. Read more: Reckitt Benckiser picks Pepsico executive for top [...]
Woodford investors blocked from switching from Hargreaves Lansdown July 9, 2019 Customers that invested in Neil Woodford’s suspended flagship fund through Hargreaves Lansdown have been blocked from switching investment platforms, according to evidence submitted to the Treasury Committee’s inquiry into the scandal. Richard Wilson, chief executive of rival fund supermarket Interactive Investor, said investors had “both hands tied” after Link Fund Solutions, the authorised fund manager, [...]
Deutsche Bank share price falls for second day amid turnaround doubts July 9, 2019 Deutsche Bank’s share price took a further knocking today, as investor uncertainty over the firm’s drastic business overhaul showed no sign of easing. Shares in the German lender tumbled a further 3.5 per cent to €6.57 this afternoon, adding to yesterday’s losses after the company unveiled cost-cutting plans to axe 18,000 jobs and shut its [...]
BMW reveals it will build electric Mini in Oxford in boost for UK’s car industry July 9, 2019 In the summer of 1959, the first Mini rolled off the production line in Oxford and hit Britain’s streets. While initially a response to the Suez crisis fuel shortage, its diminutive size made it a style icon, helped it symbolise the swinging sixties and shook up Britain’s car industry for good. Fast forward 60 years, [...]
BBC appoints new Radio 4 controller as it doubles down on Sounds July 9, 2019 The BBC has appointed Mohit Bakaya as the new controller of Radio 4, as the current boss of 5 Live takes over the broadcaster’s troubled on-demand service BBC Sounds. Bakaya, who currently serves as commissioning editor for factual at Radio 4, will take over from Gwyneth Williams, who has led the corporation’s flagship station since [...]
Donald Trump slams ‘wacky’ UK ambassador and ‘foolish’ Prime Minister July 9, 2019 Donald Trump has branded the UK’s ambassador to the US “wacky” and “stupid” in another highly personal attack on Sir Kim Darroch. Read more: Trump says he won’t talk to UK’s ambassador after email leaks In a series of tweets, the US President also hit out at Theresa May’s “failed Brexit negotiation”, labelling her as [...]
Investor enthusiasm for UK commercial property slumps July 9, 2019 Investor enthusiasm for commercial property in the UK has slumped further as sentiment swings towards France and Germany. Only 27 per cent of international professional real estate investors said the UK is their preferred market, down four per cent in the last 12 months as Brexit uncertainty continues to weigh on investor sentiment. Read more: [...]