Facebook braces for $5bn hit after privacy scandals April 25, 2019 An ongoing probe into a slew of data breaches at Facebook has left the social media giant braced for a financial hit of up to $5bn (£3.9bn) in fines and legal costs. The social media giant’s profit for the first three months of this year more than halved year-on-year to just $2.4bn, with earnings per [...]
Cyber attacks on businesses soar 235 per cent as pressure builds on security bosses April 25, 2019 The number of cyber threats to businesses has soared 235 per cent in the last year, with small firms still the most at risk, according to a new report. Data from cybersecurity firm Malwarebytes shows cyber criminals are increasingly focusing on businesses, while threats to consumers have dropped almost 40 per cent in the last [...]
A quarter of millennial festival-goers have fallen for ticket scams April 25, 2019 Tickets for some of the world’s most popular music festivals are so sought-after they sell out in minutes. Read more: MPs, stop trying to tout the demise of the secondary ticket market But new research has revealed ticket re-sales are a hotbed for opportunistic scammers, who are fleecing desperate music fans for hundreds of pounds. [...]
Public will be able to make digital HMRC complaints from August April 25, 2019 The chair of the Treasury Committee, Nicky Morgan, has today welcomed the move by HM Revenue & Customs (HMRC) to let the public make complaints about its decisions digitally. Read more: HMRC claims its online tax evasion crackdown has clawed back £200m Earlier this month Morgan said her and the Committee, which scrutinises the Treasury [...]
Act on carbon capture or face hefty bill, MPs urge government April 25, 2019 MPa have today hit out at the government’s “vague and ambiguous targets” on carbon capture, and urged it to seize on its benefits. Carbon capture usage and storage (CCUS) is needed to hit the UK’s climate change targets, the Business, Energy and Industrial Strategy Committee said in a report published this morning. Read more: Dutch [...]
Half of motorists think charging loyal car insurance customers more should be illegal April 24, 2019 Fifty per cent of motorists think it should be illegal for insurers to charge existing customers more than new customers for the same cover, a new survey said today. The research by price comparison site Go Compare showed 61 per cent of participants felt insurers treat existing customers less favourably by charging those who renew [...]
London Capital & Finance investors rage against the FCA, EY and PwC in stormy meeting April 24, 2019 Angry bondholders of collapsed lender London Capital & Finance railed against the Financial Conduct Authority (FCA) and accountants PWC and EY today at a packed meeting in City Temple church. Furious investors raged against the FCA, blaming it for failing to intervene in the regulated firm sooner. “We’ve been sold down the river!” One investor [...]
Shares in telecoms firm Kcom surge as it approves buyout deal April 24, 2019 Hull-based telecoms company Kcom has agreed to be taken over by a pension company for £504m, it announced today. Read more: London-listed broadband firm Kcom sees shares crash after profit warning Shareholders in Kcom will be entitled to receive 97p per share in the company under the terms of the takeover by the Universities Superannuation Scheme [...]
Shares in bellwether company Caterpillar fall following mixed results April 24, 2019 Caterpillar shares fell today after its quarterly results revealed weak sales in the key Asia Pacific region in the first three months of the year. Read more: Caterpillar shares fall on China slowdown prediction Shares in the machinery giant were trading down 2.5 per cent at 5.30pm UK time at $138.63 (£107.17), despite the company’s [...]
Inside Huawei: Spies, spin and billions at stake April 24, 2019 The journey from Paris to Verona takes just two minutes. The small, replica Swiss train trundles past imposing French chateaux and gothic German castles, sliding effortlessly through 12 European cities before ending up, after just under eight kilometres of newly-built track, back in Paris. On Huawei’s new Ox Horn campus, not far from the Chinese [...]