UK imposes ‘first of their kind’ sanctions on Russian hackers who attacked British firms, schools and hospitals February 9, 2023 The UK government has imposed “first of their kind” sanctions on seven Russian hackers accused of using ransomware attacks to take millions from British firms. The Russian hackers are alleged to have used “cynical cyberattacks” to extort at least £27m from 149 British victims, including schools, hospitals, and private businesses. The cybercriminals will now be [...]
FRC chief Jon Thompson to leave audit watchdog to lead HS2 project February 9, 2023 The head of the UK’s audit watchdog, Jon Thompson, is set to step down to take up a new position as the chair of HS2. Thompson has handed in his notice to leave his job as head of the Financial Reporting Council (FRC) and will now serve out his six-month notice period, Sky News first [...]
Mercedes Benz makes first UK court appearance as ‘dieselgate’ class-action lawsuit begins February 9, 2023 German carmaker Mercedes Benz today appeared in a UK court over its alleged part in the ‘dieselgate’ scandal. Lawyers acting on behalf Mercedes Benz drivers asked a London court to let them launch a class-action type lawsuit against the German firm over claims it cheated on emissions tests. Class-action specialists Leigh Day and Pogust [...]
Pub firm Fuller’s sues insurance giants Aviva and Liberty Mutual in fight over ‘business interruption’ claim February 9, 2023 Fuller’s pubs has filed a lawsuit against insurance giants Aviva and Liberty Mutual in a dispute over a “business interruption” claim. Fuller Smith & Turner confirmed to Morning Wire it is suing the two insurers “in relation to a claim under our business interruption insurance” but refused to comment further. Fuller’s filed its claim against Liberty [...]
HMRC delays are hindering UK growth, accounting body warns February 8, 2023 Major hold ups at HMRC are “acting as a drag on the UK’s economic growth,” the head of one of Britain’s top accounting bodies has said. The “unacceptable” delays, caused by backlogs at the UK’s tax authority, “need to be addressed promptly,” ICAEW chief executive Michael Izza said, as he called for the launch of [...]
Three Brits arrested over £29m PPE fraud during Covid-19 February 8, 2023 The UK’s National Crime Agency (NCA) has arrested three Brits over claims they ran a fraudulent company that brokered $35m (£29m) worth of PPE procurement deals at the height of Covid-19. Investigators believe that one of the three individuals – a man in his 50s – set up a UK company with the sole purpose [...]
Zelensky’s visit: UK sanctions six Russian weapons makers and eight members of country’s ‘elite’ February 8, 2023 The UK government has sanctioned six Russian weapons makers and a further eight members of the country’s “elite” following Volodymyr Zelensky’s first visit to Britain since Russia’s invasion of Ukraine. Foreign secretary James Cleverly said the new sanctions work to undermine Putin’s “war machine” as he vowed to block Russia from accessing the frozen assets [...]
Exclusive: Service sector confidence in Britain’s economy has rebounded since Liz Truss, research reveals February 8, 2023 Confidence in the state of the UK economy has rebounded since Liz Truss’ term as prime minister, new research shared exclusively with Morning Wire has revealed. Execs working in the UK’s professional services sector are significantly more confident about the state of the British economy than they were in middle of 2022, data from the [...]
Legal & General CEO would like to see UK ‘move more quickly’ on Solvency II reforms February 8, 2023 Insurance giant Legal & General would like to see the UK “move more quickly” in reforming the EU rules that govern Britain’s insurance sector, the head of the FTSE 100 firm’s pensions buyout segment told Morning Wire Andrew Kail, chief executive of L&G’s institutional retirement business, called for “clarity” on the UK’s plans to reshape [...]
Robot laws: First barrister to use AI in Old Bailey murder trial urges government to push forward cutting edge tech February 7, 2023 The first barrister to use an Artificial Intelligence (AI) tool in an Old Bailey murder trial has called on the UK’s Ministry of Justice (MoJ) to invest in the cutting edge technology. Sally Hobson, a criminal defence barrister at London chambers The 36 Group, told Morning Wire AI tech has the potential to “save huge [...]