Top scientist warns that artificial intelligence could suffer a ‘backlash’ from the public September 6, 2018 The incoming president of the British Science Association, professor Jim Al-Khalili, warned that the potential for artificial intelligence (AI) in the UK could be stifled by a “backlash” from the public. Previewing his address to next week’s British Science Festival in Hull, he warned that without greater transparency the potential of AI may not achieved. [...]
European Court rules that UK pension lifeboat must lift compensation cap September 6, 2018 The Court of Justice of the European Union ruled today that pensioners should receive at least 50 per cent of the value of their pension in the event that their employer goes bust. The UK’s pensions lifeboat, the Pension Protection Fund (PPF), had capped compensation for those that had lost their pensions when their employers [...]
Accenture, Novartis and Diageo are among companies leading a new diversity index September 6, 2018 Consultancy firm Accenture, Swiss pharmaceutical company Novartis and drinks giant Diageo are among the top global companies for diversity and inclusion, according to a report released today. The index from Thomson Reuters ranks the top 100 most diverse and inclusive publicly listed companies globally. Accenture topped the list, followed by Novartis, medical device company Medtronic, [...]
Toyota recalls more than 1m cars over fire risk September 5, 2018 Japanese carmaker Toyota said today it was recalling more than 1m cars globally because of an electrical fault that could lead to fires. In the UK 32,393 cars are affected, consisting of Prius, Prius Plug-in and C-HR Hybrid models manufactured between October 2015 and May 2018. Read more: Toyota invests $500m in Uber to propel [...]
Melrose hires bankers to sell GKN unit September 5, 2018 Melrose has hired bankers to sell off a unit of GKN, the British engineering stalwart it paid £8bn to takeover earlier this year. According to Sky News, Melrose has appointed investment bank RW Baird to explore a sale for off-highway powertrain, a business that makes gearboxes and driveshafts for vehicles in the mining and agriculture [...]
Private equity firm BC partners exits Sabre Insurance with £116m share sale September 5, 2018 Sabre Insurance founder Angus Ball and private equity fund BC Partners today sold £116m shares in the car insurance company. The share sale means that former majority shareholder BC Partners has sold its remaining holding in the company while Ball now holds a 1.8 per cent share. Read more: Private equity firm Apollo takes Aspen [...]
Miner ENRC victorious over Serious Fraud Office in ‘historic’ Court of Appeal battle on legal privilege September 5, 2018 Lawyers hailed ENRC’s Court of Appeal win over the Serious Fraud Office (SFO) in a legal privilege case today as “fundamental to our legal system”. In today’s judgment the Court of Appeal overturned a High Court decision from May that compelled miner ENRC to hand over the results of an internal investigation into corruption, carried out by [...]
Dominic Raab: UK will be ‘ready for Brexit, deal or no deal’ September 4, 2018 Brexit Secretary Dominic Raab told MPs today that the UK will be "ready for Brexit, deal or no deal". Raab said the UK had received "positive and constructive feedback" from its EU counterparts on its Brexit plans. Speaking in the House of Commons Raab said: "pace and intensity has been injected into Brexit negotiations". Read [...]
Hard times: Viagra maker Pfizer warns Brexit could cost it $100m September 4, 2018 US pharmaceutical giant Pfizer has warned in regulatory filings that Brexit could cost it $100m (£78m). The maker of erectile dysfunction drug Viagra said it had already done work to minimise the impact on its business in “all Brexit scenarios”. In the filing it warned that the UK’s “complex” negotiations to leave the EU “may pose [...]
Insurance giant Munich Re buys internet of things company Relayr in $300m deal September 4, 2018 Insurer Munich Re announced today the acquisition of tech company Relayr which focuses on the “internet of things” in the industrial sector. The deal values the company at $300m (£233m) and is part of Munich Re’s move to create new business models in the industrial internet of things sector. Read more: Private equity firm Apollo takes Aspen [...]
