People really don’t trust their first line of cyber defence June 8, 2016 The overwhelming majority of businesses have little faith in their first line of cyber security, research published today has found. According to the study by digital security company Gemalto, 98 per cent of companies worldwide and 97 per cent of businesses in the UK feel their perimeter security systems, such as their firewall software, are ineffective at preventing unauthorised users [...]
Sir Martin Sorrell given bloody nose over pay – but majority of shareholders still ok with £70m deal June 8, 2016 WPP shareholders today told chief executive Sir Martin Sorrell that they were less than impressed with his £70m pay package, with 33.45 per cent choosing to vote against it. Although the majority of investors still chose to wave through boardroom pay at the advertising giant, the proportion voting against is still up on last year, when some 20 [...]
Accountancy watchdog launches probe into Deloitte over Serco audit off back of fraud squad investigation June 8, 2016 The accountancy watchdog today launched an investigation into Deloitte over the audit of Serco Group, off the back of information uncovered by an ongoing investigation by the Serious Fraud Office (SFO). The Financial Reporting Council (FRC) has said it will be investigating the big four firm in relation to the preparation, approval and audit of the outsourcing company’s [...]
Recently listed CMC Markets lures in the traders to boost its profits; as chief executive Cruddas waves away Brexit “scare mongering” June 8, 2016 Recently listed CMC Markets proved it was quite a catch for traders in its results for its year ended in March, with trading activity significantly increasing. The figures The derivatives dealer revealed that its profit before tax had grown to £53.4m, up 23 per cent on the prior year's £43.5m. Meanwhile, net operating profit increased [...]
How The Beatles sent Terra Firma’s Guy Hands back to court to confront Citigroup June 8, 2016 Those who have been walking by the Strand recently may have spotted a familiar face, as Guy Hands and his legal team have returned to court for the latest phase in the legal battle over his ill-fated EMI deal. Hands is suing Citigroup for £1.5bn worth of damages in the High Court over Terra Firma's – the private [...]
Tax experts urge people to check their P60 to see whether they can reclaim tax on their savings, but it’s all change next year June 7, 2016 A group of tax experts is today urging people to check their P60 to see if they can reclaim some of their savings. The Low Incomes Tax Reform Group (LITRG), which is an initiative of the Chartered Institute of Taxation (CIOT), is reminding people that their bank will have automatically deducted 20 per cent for tax from their [...]
Nearly half of insured businesses are not sure whether their cyber policy would cover them for this kind of attack June 7, 2016 Despite splashing out on cyber security insurance, new research out today has found an alarming number of businesses have little idea if they are covered against one particular growing threat. The study, by data security company Mimecast, discovered 45 per cent of companies with cyber insurance were not aware of whether their policy would pay out in [...]
Accountancy watchdog cannot follow up on BHS inquiry as requested because it’s being asked to investigate people who aren’t actually accountants June 7, 2016 The accountancy watchdog today declined to investigate the BHS collapse as thoroughly as one professional body has requested it to, on the grounds that such a probe would fall miles outside of its remit. Responding to a letter from Simon Walker, director general of the Institute of Directors, the Financial Reporting Council's (FRC) chief executive Stephen [...]
