Cyber security solutions that are only 95 per cent effective are just not good enough anymore May 16, 2019 The cyber security industry is failing businesses. Cyber criminals are constantly evolving and evading the market’s most sophisticated detection-based security solutions, with government figures showing that 32 per cent of UK businesses have faced a cyber attack or data breach in the past year. Most security solutions take a “best endeavour” approach to defending against [...]
Bank of England director calls for ‘collective solution’ to cyber security threats May 14, 2019 The Bank of England has called for a “collective solution” to tackle cyber security threats similar to the "super shield" system used in the US. The US has implemented a private sector initiative called Sheltered Harbour to protect customers and financial institutions in the event that a cyber attack causes critical systems to fail. Read [...]
Attempts to tackle the ‘problem’ of high pay will end up making everything worse May 10, 2019 The more we learn about what other people earn, the more concern there is about it. Specifically, a political debate is raging over dramatic increases in the pay of chief executives of listed companies. Deemed “unfair” in the widening inequality discussion, pressure is growing from activists and politicians to fix this so-called problem. The latest [...]
Editor’s Notes: Harmony is in short supply in the EU as challenges loom large May 10, 2019 Faced with some major non-Brexit challenges of their own, the leaders of the EU27 and the heads of the EU’s powerful institutions are meeting in Sibiu, Romania for a summit. What’s emerged so far is the Sibiu Declaration, a beautifully vague and vacuous document committing the EU to a range of platitudinous positions such as: [...]
Bank of England experts to be sent to emerging economies to promote regulation May 9, 2019 Experts from the Bank of England will be sent to 30 countries to help improve financial regulations for emerging economies, the government has announced. International Development Secretary Rory Stewart unveiled the plan in his first speech since taking on the job last week. The government will pump £6.1million into the scheme following pilots last April [...]
The City powers the UK economy – it must not fall into Labour’s hands May 8, 2019 Despite the best efforts of a few valiant voices, the City (and its interests) received a shameful lack of attention during the Brexit debate and has been largely left to fend for itself ever since. Read more: What the next Bank of England governor’s CV looks like However, the race to succeed Mark Carney at [...]
Warm-weather pub trips boost tepid consumer spending growth in April May 8, 2019 Consumer spending growth slowed in April but was boosted by last month’s sunshine, resulting in double-digit growth in the amount spent at restaurants and pubs, according to the latest data from Barclaycard. Read more: Confidence hits new low but spending climbs amid sunny weather Overall consumer spending grew 2.5 per cent in April compared to [...]
Fix Brexit, unlock investment – and maybe we can all work a little less May 7, 2019 Did you enjoy your day off yesterday? Nice, wasn’t it, coming so soon after the extended Easter break? Plus there’s another bank holiday in just three weeks from now. Happy days. Square Mile workaholics aside, most of us would prefer to have a little more leisure and a little less time in the office – and [...]
‘Zombie firms’ dragging down UK economy, warns KPMG May 6, 2019 Increasing numbers of underperforming “zombie firms” are acting as a drag on the UK economy and raising the risk of contagion during an economic crisis, professional services firm KPMG has warned today. Read more: UK economy 'treading water' as services sector struggles Up to 14 per cent of listed UK companies showed zombie symptoms of [...]
Pennies saved as Philip Hammond sets up committee to protect access to cash May 3, 2019 Cash machines will be protected by a new government-led committee, Philip Hammond will announce today as he unveils a new taskforce to safeguard access to physical money. The Treasury-led group will coordinate work across the country to ensure people can still get to their cash in an increasingly digital payment focused economy. The Chancellor will [...]