Facebook hit with US criminal investigation over data-sharing deals March 14, 2019 US prosecutors have launched a criminal investigation into Facebook over a number of data deals it struck with other major tech firms. A grand jury in New York has ordered two smartphone manufacturers to hand over records, the New York Times reported, citing people familiar with the matter. Read more: Facebook to encrypt more messages [...]
Hammond has the cash to end austerity, IFS says March 14, 2019 The improved public finances announced in yesterday’s Spring Statement give the chancellor Philip Hammond the power to bring austerity to an end, the Institute for Fiscal Studies (IFS) has said today. The think tank also said Britain’s relentless focus on Brexit has stopped it from addressing important economic and financial challenges in its analysis of the Spring Statement. [...]
Cineworld hails kingsize profits after purchase of US cinema chain Regal March 14, 2019 Cineworld’s mega £2.7bn purchase of US cinema chain Regal sent profits soaring 125 per cent in 2018 the group revealed today, even as UK cinemas struggled. Read more: Cineworld shares slide due to disappointing UK revenue growth The figures Cineworld saw profit before tax grow 125 per cent to $349m (£262.9m) last year, up from [...]
Superdry founder Dunkerton calls for investor support amid plan to ‘supercharge’ firm March 14, 2019 Exiled Superdry founder Julian Dunkerton has written to shareholders urging them to vote him back onto the board as he outlined a plan to “supercharge” the company. Dunkerton, who left the firm in March last year, pledged to return the company to revenue growth, restore double-digit earnings margins and rebuild profitability within three years if he [...]
Westminster’s Brexit deadlock means the only realistic route forward is a second referendum over May’s deal March 14, 2019 Observing the dog’s breakfast that is the Brexit process in Westminster brings to mind the saying attributed to Albert Einstein that the definition of insanity is doing the same thing over and over, and expecting different results. The second meaningful vote has gone the same way as the first, and hints are now dropping that [...]
The World Wide Web is 30 years old – what will be the future of the internet? March 14, 2019 The World Wide Web turned 30 years old this week: on 12 March 1989, Sir Tim Berners-Lee submitted a proposal to the world’s largest physics laboratory, Cern, that outlined a new way to link, share, and manage information over the internet. As the main way that the vast majority of us access the online world, the [...]
DEBATE: As RBS trials a fingerprint bank card, is biometric technology the future for digital payments? March 14, 2019 As RBS trials a fingerprint bank card, is biometric technology the future for digital payments? YES, says Ann Cairns, vice chairman of Mastercard. As we shift towards using digital services, and the need to protect our data becomes ever more critical, the use of passwords is woefully outdated. Many people simply have more passwords than [...]
UK house prices: Ongoing Brexit uncertainty will hurt housing market, says RICS March 14, 2019 UK house prices will continue to plunge this year as prolonged Brexit uncertainty weighs on the market, according to the latest forecasts. Read more: UK house prices: Experts cast doubt on 'volatile' price hike Buyer enquiries, agreed sales and instructions to sell have fallen for the sixth month running, according to the Royal Institute of [...]
Balfour Beatty wins preferred bidder status in decade-long £1.5bn Network Rail contract March 14, 2019 Construction firm Balfour Beatty is set to be tasked with overseeing a wide-ranging program of railway track renewals and crossings for Network Rail for the next decade, in a £1.5bn contract. The UK’s biggest constructor, which carries out key public infrastructure projects such as Hinkley Point and Crossrail, has been selected as “preferred bidder” for [...]
One Savings Bank and Charter Court announce terms of £1.6bn merger March 14, 2019 Challenger banks One Savings Bank and Charter Court have confirmed the terms of a £1.6bn merger. Following the completion of the deal One Savings Bank shareholders will own around 55 per cent of the combined company, the firm announced as it posted its full-year results for 2018. Read more: One Savings Bank and Charter Court [...]