More than half of businesses in the UK, US and Germany aren’t fully prepared to deal with a cyber attack February 7, 2017 More than half of businesses (53 per cent) in the UK, US and Germany aren’t fully prepared to deal with cyber attacks, according to a new study of 3,000 companies. Specialist insurer Hiscox’s cyber report – which assessed firms on strategy, resourcing, technology and process – found that UK firms are least likely to have [...]
21st Century Fox beats earnings forecasts thanks to US election boost February 6, 2017 The heated US presidential race provided a boost to 21st Century Fox as the Murdoch-controlled firm beat earnings forecasts. Revenues rose four per cent to $7.68bn (£6.2bn) for the three months ending in December, just short of forecasts. Operating income rose 27 per cent to $857m, compared to $674m for the same period a year [...]
Green belt reform drops off the agenda as ministers issue long-awaited housing proposals February 6, 2017 Ministers have steered away from a liberalisation of building on so-called green belt land, despite acknowledging the worsening housing crisis in many parts of the country. The government had been expected to introduce reforms to free up protected land, but proposals released today after months of delay have instead abandoned any reference to easing restrictions. Instead, [...]
Theresa May issues MPs with a fresh warning against “obstructing” Brexit February 6, 2017 Prime Minister Theresa May has issued MPs with a fresh warning against any attempts to frustrate or "obstruct" Brexit. Speaking ahead of a new round of House of Commons debates on the Article 50 Bill, May told MPs that the UK's European allies want to begin negotiations. "So do I and so does this House, which last week voted by [...]
Singapore Exchange in talks with Saudi Aramco to beat London and others to secondary listing spot February 6, 2017 The Singapore Exchange is said to be in talks with Saudi Aramco as it bids to co-host what is expected to be the world’s largest ever stock market listing. London, New York, Hong Kong and Japan are also thought to be in the running for the secondary listing spot of the oil and gas giant. Read [...]
Three buys UK broadband in £300m deal February 6, 2017 Mobile operator Three has acquired UK Broadband in a £300m deal. The deal comes just months after the European Commission blocked Three's parent company CK Hutchison from a £10.3bn takeover of O2. UK Broadband, the company behind home broadband service Relish, has 15,000 customers across the UK. Three will pay £250m for snapping up UK Broadband while a [...]
A gig economy inquiry by MPs hears a tale of two Uber drivers February 6, 2017 Uber drivers have given evidence to MPs scrutinising the rise of the gig economy and its implications for workers, painting two very different pictures of their experience with the company. "There is no flexibility," said Uber driver David Dunn, giving evidence to the work and pensions committee chaired by Frank Field, who last year accused Uber of treating its drivers [...]
Commons speaker John Bercow says he is “strongly opposed” to Donald Trump addressing Parliament February 6, 2017 House of Commons speaker John Bercow has come out against US President Donald Trump addressing the Houses of Parliament on a state visit this year in an extraordinary intervention. More than a quarter of MPs have already signed a motion stating that Trump should not be offered the chance to make such a speech during his time [...]
MPs call on Lloyds to pay up compensation following HBOS fraud trial February 6, 2017 A group of MPs has today called on Lloyds Banking Group to repay victims of a scheme run by two former HBOS bankers. The two men, Lynden Scourfield, 54, and Mark Dobson, 56, were among six people jailed last week for their roles in a plot which drove troubled businesses into the ground for their own profit, all while [...]
Unicredit shares down more than five per cent as Italy’s biggest bank kicks off Italy’s largest ever rights issue February 6, 2017 Unicredit shares are currently trading down more than five per cent after Italy's biggest bank kicked off its bumper €13bn (£11.2bn) rights issue this morning. The rights issue, which is the country's largest ever, forms part of a wider turnaround plan announced by Unicredit's relatively new chief executive Jean Pierre Mustier late last year to bolster the lender's [...]