HSBC has been fined £57.4m by the Bank of England for “serious failings” over its measures to protect customer deposits. The bank failed to accurately identify deposits eligible for Britain’s Financial Services Compensation Scheme, the Bank’s Prudential Regulation Authority (PRA) said. Under the scheme, customer deposits are protected up to the value of £85,000. HSBC […]
Amazon is scrapping its planned takeover of vacuum maker iRobot following opposition from EU competition authorities. The companies said in a joint statement that they were “disappointed” but there was no clear regulatory path for the purchase of the Roomba maker. First announced in 2022, the deal would have been one of Amazon’s largest ever […]
Leaders from the fintech industry gathered in Parliament last night to discuss the challenges and opportunities of the increased use of Artificial Intelligence (AI) in businesses across the UK. Speaking at the Parliament Street think tank’s Artificial Intelligence Summit on Monday night, hosted by Dean Russell MP for Watford and chaired by Steven George-Hilley of […]
The government’s decision to scrap VAT-free shopping for tourists is costing the economy £11.1 billion in lost GDP and deterring about two million foreign visitors each year, according to an analysis by the Centre for Economics and Business Research (CEBR). The number of tourists coming to the UK still remains around one million visitors short […]
Train drivers will keep striking to “raise the profile” of their dispute after half a decade without a pay rise, the Aslef union has warned, before another week of rolling strikes across England. Aslef’s general secretary, Mick Whelan, has said he believes that the government will make renewed efforts to see train companies use controversial […]
More than 3 million BT customers could receive up to £400 each as a class action lawsuit begins seeking £1.3bn in compensation over claims the telecoms group allegedly overcharged for landline services. The legal action has been brought by Justin Le Patourel, a former executive of the watchdog Ofcom, and alleges that BT used its […]
Breadcrumb Trail Links Work News Financial Times Playing politics is fundamental to getting anywhere at work Author of the article: Financial Times Miranda Green Published Jan 26, 2024 • Last updated 5 minutes ago • 4 minute read Join the conversation Most workers disapprove of office politics, but experts say ignoring power structures will hold you […]
Asda is converting more of its superstore petrol forecourts to card-only, unmanned operations with staff being redeployed into its stores. The supermarket chain has 300 forecourts attached to superstores with half of those already unmanned. Another 82 are to go cash-free, with 14 already having been converted since December last year, according to the supermarket. […]
The Port of Dover and ferry companies have warned of “serious and lasting negative impacts” if the EU’s new border IT system is implemented this autumn. It said if the current plans go ahead “communities, businesses and authorities” would suffer. Under the delayed Entry Exit System, people entering the EU will have to register fingerprints, […]
The prospects of interest rate cuts by the Bank of England and of further falls in inflation over the coming year have lifted consumer confidence to its highest point in two years, a closely watched survey shows. The consumer confidence index published by GfK, the market research company, which is now in its 50th year, […]