Philip Hammond chooses to splash the cash in his Budget rather than pay down the deficit October 29, 2018 Chancellor Philip Hammond declared “austerity is coming to an end” as he unveiled a raft of spending increases and tax cuts on Monday. Hammond used better-than-expected tax revenues of £12bn to pour extra cash into the NHS and bring forward by a year an increase in the 40p tax threshold to £50,000. The new level will [...]
Going it alone: Tech giants to be hit by UK digital services tax October 29, 2018 Technology giants operating in the UK will be served with a narrowly-targeted digital services tax, chancellor Philip Hammond announced today. With consultations to occur before the tax goes live in April 2020, the chancellor said the move is to ensure "the UK continues to be the best place in the world to start and scale [...]
The ASA watchdog is regulating the Wild West of online marketing and advertising October 29, 2018 It goes without saying that the web has revolutionised the global economy. As a source of knowledge and information, as well as a marketplace for trade, it has created jobs, fuelled innovation, and accelerated productivity (well, it has when we’re not browsing Twitter or watching Netflix). The internet has also changed advertising. The digitisation of [...]
Killing Eve: A cautionary tale on privacy October 29, 2018 Villanelle: “What’s your pin?” Eve Polastri: “1…2…3…4” How many of us could relate to this scene in the popular BBC series Killing Eve? Whether it’s 1,2,3,4, a date of birth, or an easily guessable passphrase – our cavalier attitude to passwords is well-documented. The fact that an MI6 officer (albeit a fictitious one) had such [...]
Facebook revenue growth to be hit by data breach record October 28, 2018 Facebook is expected to report a continued growth slowdown for revenue and profits in its third quarter earnings on Tuesday, as a string of major data breaches weigh heavily on the firm. Facebook finance chief Dave Wehner predicted the deceleration at its last earnings call in July, with consensus estimates as collated by S&P Global [...]
European Parliament calls for a full audit of Facebook over its data breach track record October 25, 2018 The European Parliament has today called for a full audit to be carried out on Facebook to assess the security of its users' personal data and the firm's data protection policies, in light of this year's string of data breaches. MEPs have today adopted a resolution which urged Facebook to allow EU bodies to carry out [...]
Facebook fined maximum £500,000 penalty over Cambridge Analytica scandal October 25, 2018 Facebook must pay a £500,000 penalty for its role in the Cambridge Analytica scandal, the UK’s data watchdog ordered today. The Information Commissioner’s Office (ICO) has handed the social media giant the penalty for processing people’s data without their consent, as well as failing to keep that data secure. Read more: Facebook reels from the [...]
Apple chief Tim Cook calls for GDPR-style privacy in the US October 24, 2018 Apple chief executive Tim Cook praised EU privacy laws in a rare speech in Brussels today, and demanded that the US follow its lead. Appearing at an international data protection conference, Cook said it was "time for the rest of the world" to get up to speed on data privacy with the EU's General Data Protection [...]
DEBATE: With Nick Clegg joining Facebook, can we expect a new revolving door between politics and Silicon Valley? October 23, 2018 With Nick Clegg joining Facebook, can we expect a new revolving door between politics and Silicon Valley? YES, says Leon Emirali, an entrepreneur and investor. Stifling regulation, immense political upheaval, and very deep pockets have created the perfect environment for a politics/tech merry-go-round. For the Silicon Valley giants, it makes perfect sense to use their [...]
A luddite levy on online shopping won’t help the high street October 23, 2018 Time and time again over the past few months, we’ve heard prominent figures in the retail world call for a special sales tax on online companies to help prop up their struggling sector, from the Tesco chief executive Dave Lewis, to the New West End Company that represents Selfridges and Marks & Spencer. Chancellor Philip [...]