Two-thirds of FTSE 350 board members lack cyber hack training August 21, 2017 The majority of board members at Britain’s biggest public companies have received no training in how to handle a cyber attack despite it rapidly rising up the business agenda, according to a new survey. Some 68 per cent of board members in the FTSE 350 said they have not been trained in responding to a [...]
Going global: Exporting isn’t the hassle British SMEs fear July 31, 2017 The UK's decision to leave the EU has thrust the issue of international trade into the spotlight. Currently, just one in five SMEs export, and a recent study by Lloyds Bank found that the EU was a trading partner for 85 per cent of exporters over the past year. Pre-referendum, this relationship was easier, cheaper [...]
Edinburgh’s entrepreneurial ecosystem encouraging start-up activity July 26, 2017 The secret of a great recipe lies in having the best local ingredients to work with. The same lesson applies when building an entrepreneurial ecosystem – to be truly successful, cities must evolve their own unique recipe based on the best local ingredients. A talented workforce, public sector and academic support, a culture of innovation, [...]
BT and Rolls-Royce investigations: Auditors are not there to find fraud, says accounting body boss July 13, 2017 Accounting investigations into audit sign-offs of two British stalwarts are not a sign the profession is in crisis, a senior figure at the Institute of Chartered Accountants in England and Wales (ICAEW) said today. But Vernon Soare, the ICAEW’s chief operating officer, admitted there is an “expectation gap” over the role of the auditor. KPMG [...]
Sector charge for more women to get top jobs in finance gathers pace as firms shake up succession planning and hiring practices July 9, 2017 A push to secure more women top roles in the finance sector is gathering pace, as a fresh batch of firms have signed up to a charter devised by the Treasury to build the pipeline of female talent for leadership positions. Some 25 new firms have signed up to the Women in Finance Charter, taking [...]
Blockchain is warming up: Asset manager Natixis says it has made the industry’s first ‘real’ transaction using the technology on the FundsDLT platform July 6, 2017 France’s Natixis Asset Management claims it has made the first “real” blockchain transaction completed in fund distribution, as investors purchased shares in its funds via the technology. Natixis announced last month that it would be the first asset manager to use the FundsDLT platform, a blockchain-powered fund distribution platform. Read more: Blockchain wallet business raises [...]
Firms could be shocked at financial fallout from Petya and Wannacry cyber attacks, warns Lloyd’s of London June 28, 2017 Firms could be shocked at the cost of cyber attacks, such as yesterday’s Petya ransomware hack, with one of the City’s oldest financial institutions warning the reputational fallout is “what kills modern businesses”. Lloyd’s of London said today businesses need to prepare themselves for “slow burn” costs that follow cyber attacks such as reputational damage, [...]
Insurance sector readies for soaring M&A (merger and acquisition) activity as firms look to spend surplus capital following Solvency II Directive June 12, 2017 A surge in mergers and acquisitions (M&A) and share buybacks could sweep Europe’s insurance sector this year, as firms look to put surplus capital to work. According to a survey of chief financial officers conducted by Moody’s Investors Service, low interest rates remained the single biggest worry in the sector. The results gathered opinion in [...]
One year until The EU General Data Protection Regulation: The business world speaks out about the biggest ever overhaul of data legislation May 25, 2017 Exactly one year from today, “the most lobbied piece of legislation in history” – the EU’s General Data Protection Regulation (GDPR) – will be enacted, radically overhauling the relationship businesses have with personal data through a raft of new obligations and consumer rights. The way firms collect, store, process and protect the personal information of [...]
Leicester City owners agree to buy Belgian club OH Leuven as football’s multi-ownership trend grows May 17, 2017 Leicester City have become the latest English team to gain a sister club after owners after King Power completed the purchase of Belgian side Oud-Heverlee Leuven. The Foxes’ Thai owners have signed an agreement to buy the Belgian second division club once due diligence is completed, although it is not clear what future relationship the [...]