UK’s financial sector faces new wave of brute force DDoS attacks September 14, 2022 The UK’s financial sector is experiencing a wave of brute force Distributed Denial of Service (DDoS) attacks, new data obtained through a freedom of information request shows. Hackers are increasingly using brute force tactics to launch cyberattacks against the UK’s financial sector, as they pivot away from using phishing and malware scams, the Financial Conduct [...]
Shares in Naked Wines plummet following shock stock market announcements September 14, 2022 INVESTORS gave Naked Wines a sniff yesterday after two shock stock market announcements – and sent the sommellier back to the cellar. Shares were down almost 40 per cent yesterday after the firm this week announced the departure of a non-executive director after just two weeks and a worrying business update. Wayne Brown, an analyst [...]
Tullow Oil chiefs double down on plans for £1.5bn Capricorn merger September 14, 2022 BOSSES at Tullow Oil yesterday reaffirmed their commitment to a £1.5bn merger with Capricorn – though shareholders in the latter continue to sound the alarm on the possible deal. Tullow announced the deal in June, with CEO Rahul Dhir yesterday saying that the merger has “the potential for material value creation” alongside half year profits [...]
Legal sector hits back at EU calls for regulation of third-party litigation funders September 14, 2022 Lawyers and litigation funders have hit back at EU plans to regulate the third-party litigation financing industry in claiming new rules could limit access to justice. The clashes come after the EU parliament on Tuesday voted overwhelmingly in favour of adopting a report by German MEP Axel Voss calling for new regulation of Europe’s [...]
Legal sector wage inflation expected to slow, Gateley chief executive says September 13, 2022 The head of UK listed law firm Gateley Plc has said he expects “pay inflation” in the legal sector to slow over the coming year. Speaking to City A.M. Gateley chief executive Rod Waldie said “wage inflation has been the single biggest issue we’ve had to confront” as he noted the law firm’s payroll costs [...]
JP Morgan’s investment banking fees could drop 50 per cent, executive says September 13, 2022 JP Morgan Chase’s investment banking revenues could drop by as much as 50 per cent in the third quarter of 2022, one the Wall Street bank’s most senior executives has warned. The bank’s president and chief operating officer Daniel Pinto said he expects JP Morgan’s investment banking fees to be 45-50 per cent lower than [...]
Mothercare shares surge as baby goods seller returns to profitability September 13, 2022 Shares in Mothercare surged by more than 60 per cent today after the British baby-care products retailer said it had swung back into profitability over the past financial year. The Watford headquartered company posted profits of £12.1m for the financial year 2022, compared to a £21.5m loss in FY 2021. The retailer said the “significant [...]
Insurance lobby pushes back against EU’s ESG rules September 13, 2022 Insurance sector lobby group Insurance Europe has called on the EU to prioritize setting climate standards over social ones, in putting forward its ESG taxonomy. In a response to an EU consultation, Insurance Europe called on the bloc to hold back from setting “overly prescriptive” ESG standards, particularly in regards to human rights, as [...]
UK civil servants to have computers monitored to get people back to office September 13, 2022 Whitehall civil servants will have their computers monitored in a bid to get people back to the office permanently post-Covid. Civil servants in the Cabinet Office, which has around 2,700 staff, have been told that management will monitor how often they log on to their computers to track how much they work from home. It [...]
Aveva nears closure on multi-billion-pound Schneider buyout September 12, 2022 London listed software developer Aveva is near to closing a deal that would see it fully taken over by French industrial giant Schneider Electric. The two companies are in discussions for Schneider to acquire the roughly 40 per cent stake in Aveva that it does not already own, at a price of £30 a share, [...]
