Post Office victims see hopes raised by inquiry’s line of questioning February 23, 2022 Sub-postmasters who were victims of the Post Office Horizon scandal have seen their hopes raised by the line of questioning adopted by the public inquiry’s chairman. Former judge Wyn Williams has confirmed the victims’ compensation agreements would be revisited, after the inquiry’s terms of reference didn’t mention a specific financial redress for the sub-postmasters, reported [...]
Ted Baker steams ahead with UK expansion despite Omicron dent to sales February 23, 2022 Ted Baker is set to steam ahead with its UK expansion plans – with hopes of a least three new stores each year over the next three years – despite the Omicron-induced dent to sales. The retailer saw sales plunge 42 per cent during the Omicron surge, in comparison with the final quarter of 2019. [...]
FCA brings in consultants to tackle authorisation backlog as it races to recruit new staff February 23, 2022 The UK’s financial industry regulator has brought in consultants to help it tackle the backlog in new authorisations, as it pushes forwards in its efforts to recruit new staff. Speaking to the Treasury Committee, Sheldon Mills, executive director of the FCA, said the watchdog had hired consultants as it aims to cut the authorisation backlog, [...]
Security fears as HMRC loses nearly 1,500 electronic devices over past five years February 23, 2022 HMRC has reported 1,491 electronic devices lost or stolen over the past five years, according to official figures. The data, retrieved via the Freedom of Information Act (FOI) and analysed by the Parliament Street think tank, observed the number of mobile phones, laptops and tablets lost or stolen over the past five years, each year from [...]
Covent Garden leasing demand drives Capital & Counties rental growth February 23, 2022 Capital & Counties Properties has revealed strong demand levels for leasing in Covent Garden was one of the main drivers behind the company’s valuation uplift in the second half of 2021. In the year ended 31 December, the property investment giant reported a total equity of £1.8bn, while underlying net rental income increased from £43.6m [...]
Analysis: Scholz’s orange light for Nord Stream 2 February 23, 2022 German Chancellor Olaf Scholz’s decision to suspend the approval process for Nord Stream 2 following Russia’s decision to instigate conflict in Ukraine was both an emphatic display of solidarity with the West, and also a canny political move, reflecting the savviness of Angela Merkel’s successor. The choice allowed him to present a united front with [...]
Ofcom clamps down on fake number fraud February 23, 2022 UK phone companies will make it harder for scammers to use their networks, under a range of measures proposed by media regulator Ofcom today. Almost 45 million people were targeted by scam calls and texts last summer. Criminals are becoming increasingly sophisticated, and nearly a million of these consumers followed the scammers’ instructions, risking financial loss and [...]
Metro Bank says turnaround plan is working after cutting losses to £245m February 23, 2022 Metro Bank has said its turnaround plan is working, despite losing £245.1m last year, after its revenues increased 17 per cent despite the economic impacts of Covid-19. The London retail bank said its efforts to cut costs and win over customers had started to work, after it set out its turnaround plan, to rejuvenate its [...]
£3.8bn stall but still flying: UK’s biggest airport looks ahead after ‘worst year in Heathrow’s history’ February 23, 2022 Heathrow has revealed 2021 was the worst year in its history, as passenger numbers fell to 19.4 million – the lowest since 1972 – while cargo went down 12 per cent as a result of the pandemic’s impact on aviation. In the year ended 31 December, the London hub reported that, despite its efforts to [...]
Darktrace snaps up Dutch Cybersprint to drive preventative cyber attack approach February 23, 2022 Tech darling Darktrace announced that it has snapped up Cybersprint, an attack surface management company that provides continuous, real-time insights from an outside-in perspective to eliminate blind spots and detect risks, for €47.5m (£39.6m), valuing the transaction 12.5 times Cybersprint’s annual recurring revenue.
