British Airways data breach: How hackers stole customers’ data September 11, 2018 British Airways’ breach last week was caused by the same group of hackers that targeted Ticketmaster, according to cyber security researchers. The cyber attack resulted in 380,000 customers’ personal and financial details ending up in the hands of criminals, with the airline warning those affected to contact their banks and promising full compensation. Read [...]
ING CFO steps down in wake of money laundering scandal September 11, 2018 ING’s chief financial officer is leaving the company over a money laundering scandal that cost the bank €775m (£698.15m). Koos Timmermans will step down from the Dutch bank in light of the bank’s failure to prevent widespread money laundering through its Netherlands division, for which Timmermans was ultimately responsible for a number of years. Read [...]
Alive and kicking: JD Sports thrives in struggling high street environment September 11, 2018 JD Sports sprinted ahead of its high street rivals as it boosted both profit and revenue margins in its interim results today. The figures The shoe and sportswear retailer posted a 35 per cent year-on-year hike in revenue to £1.85bn for the six months to the end of August while profits before tax stepped up [...]
Sticky business: Cadbury owner stockpiles chocs for hard Brexit September 11, 2018 Cadbury’s owner is stockpiling chocolate, biscuits and raw ingredients in the event of a hard Brexit, it has emerged. Mondelez Europe warned that the UK cannot provide all its own ingredients to produce Cadbury chocolate, and so the firm is making other arrangements in case the UK spins out of the EU without a deal. [...]
EDF: Energy giant faces shake-up under France’s new environment minister September 10, 2018 EDF must first demonstrate that its next-generation nuclear reactor works as advertised before France considers allowing more plants to be built in that mould, the country’s new environment minister has said. Francois de Rugy won’t sign off on building more plants to EDF’s European Pressurised Reactor (EPR) design until their long-term viability is clear, he [...]
Commute, coffee, after-work drinks: Londoners spend the most money on work-related expenses September 10, 2018 How much did you spend on your lunch today? What about after-work drinks? And getting home? If you’re making daily trips to a trendy new sandwich bar every lunchtime, it might be time to rethink your spending: according to new data, Londoners have the priciest work-related outgoings in the UK. While the average Brit spends [...]
Sweet relief: Primark boosts revenue to alleviate owner ABF’s sugar woes September 10, 2018 Despite a gloomy outlook for retailers, Primark expects to increase revenue by 1.5 per cent to boost profits this financial year, offsetting a fall in sugar prices in Europe for owner Associated British Foods (ABF). Strong first and second half sales are expected to help the budget clothes brand to post the increase, with UK [...]
Sterling lifts as Barnier says Brexit can lead to ‘unprecedented’ UK-EU partnership September 7, 2018 Sterling climbed 0.89 per cent against the euro today after the EU’s chief negotiator sounded positive notes about the likelihood of the UK securing a Brexit deal. Michel Barnier said there were positive elements of Prime Minister Theresa May’s Chequers plan, which Brexiteers had previously dismissed as “dead in the water”, as a transcript of [...]
UK house prices growth accelerated in August September 7, 2018 Annual house price growth picked up in the three months to August, growing by 3.7 per cent, compared to a 3.3 per cent annual rise in the run up to July, according to new figures released today by Halifax. With the average home costing £229,958, house prices remained steady month to month, ticking upwards by [...]
US tech firms ask Trump for Chinese tariff exemptions in ongoing trade war September 7, 2018 US tech giants have asked President Donald Trump’s administration for an exemption from new tariffs against China. With President Donald Trump set to reveal a fresh tranche of tariffs targeting $200bn (£154.6bn) of Chinese exports, Cisco, Dell, Hewlett Packard Enterprise and Juniper Networks urged the White House to whitelist components behind some of their products. [...]