Continued policy of the latest economic and monetary news, as EU leaders say Brexit negotiations will continue next week.
The Information Commissioner’s Office has fined British Airways 20 million pounds for not informing the public and monetary of more than 400,000 customers.
The ICO stated that the airline processes a significant amount of non-public knowledge without sufficient security measures in place.
Not only has this inability to implement appropriate security measures, BA has also been hit by a cyberattack in 2018 that has been detected for more than two months.
The ICO said its investigation revealed that BA did not stumble upon the attack on June 22, 2018, but alerted via a third more than two months after September 5 of this year.
The ICO added that solving these security disorders would have prevented cyberattack from positioning itself in this way.
Information commissioner Elizabeth Denham said:
People have entrusted their non-public knowledge to BA and BA has not taken good enough steps for this information.
His inability to act unacceptablely and affected thousands of people, possibly causing some anxiety and misery as a result. That’s why we’ve issued a $20 million fine to BA, the highest to date.
When organizations make bad decisions about people’s non-public knowledge, they can have a genuine effect on people’s lives. The law now provides us with the equipment to inspire corporations to make better knowledge decisions, adding to make a security investment of the date.
Instagram, owned by Facebook, aims to take strong action against social media influencers and celebrities who post posts telling subscribers when they were paid to do so, following an investigation through the Competition and Markets Authority.
The CMA said it was investigating the so-called “hidden advertising” factor of social media influencers and indicated that Instagram had not done enough to address the problem.
Social media influencers can make a profit by charging fees to corporations to advertise a product with posts that can be noticed through thousands of fans of their Instagram profiles.
UK customer coverage law requires transparent labeling of recommended parts so that others are not misled.
Andrea Coscelli, executive director of the CMA, said:
For too long, primary platforms have avoided taking responsibility for hidden advertising on their site, he said, “So this commitment to combat hidden classified ads and review how other people post on Instagram, making it difficult for users to forget the right – is a welcome step forward.
These adjustments mean that corporations will have no excuse to forget the way their brands are advertised, making life much more complicated for those who are not frank and fair to their subscribers.
The CMA, which said Instagram would now report its progress in solving the problem, said the commitments apply to all Instagram users in the UK, as well as to anyone in the world who directs their posts to UK users.
So the Brexiteer Nigel Farage has reappeared, this time with a newsletter designed to save subscribers money.
In a catchphrase that sounds remarkably familiar, his online page says other people subscribe to “Fortune
He goes on to say that they will answer hot questions like “Why didn’t they tell you what really generates money?”And “Why did you notify early of the wonderful monetary threats?”
The first article explains:
We see everything from the benefits of having gold, why the euro is doomed to failure, the prospect of cryptocurrencies, and how the culture of cancellation makes critical thinking and public debate toxic.
But if your hot query is more if this is real, Alphaville of the FT has already confirmed, “No, it’s not a sham. “
More of our retail correspondent Sarah Butler, following John Lewis’ announcement this morning.
John Lewis is about to hire a principal owner, aiming to build rental homes on 20 sites he owns across the country as a component of his new strategy to rebuild profits of 400 million pounds over five years.
The corporate claimed that the structure of the houses would provide a new type of income, along with other ideas, adding monetary and virtual services, as the long-term gains of retail would probably not be enough to pay at the desired level.
The workshop introduced a wide variety of concepts, the leadership of President Sharon White and new branch managers John Lewis and Waitrose.
He showed his goal of abandoning never Knowingly Undersold’s long-standing value promise for a new promise of value to be completed next year and allowing shoppers to recycle or reuse more products and spend a billion pounds to continue growing online.
It is an ambitious effort to try to move a corporate strain to new markets. Others might have chosen to continue weaving in retail branches and manage them with the greatest success imaginable, while rivals like Debenhams and House of Fraser are potentially shrinking and disappearing. .
Can John Lewis be informed of new tricks? The company’s move to online retail has paid off in the afterlife: it has run brilliantly. Can they do the same with space building, gardening and insurance in difficult economic times?
JD Wetherspoon fell to an annual loss of 95 million pounds because sales fell due to the coronavirus blockade, and the founder of the bar chain renewed his complaint about British government restrictions on pandemic control, writes my colleague Mark Sweney.
The network, which reported a profit of 95 million pounds in its last monetary year, said its cash fell 30. 6% to 1. 26 billion pounds, while its classified ads were hit through the blockade.
The pre-tax loss includes 60 million pounds of one-time prices, totaling 29 million pounds of Covid-related prices for stock losses, workers’ body prices and equipment.
The pub chain said it is consultation to reduce staff at its pubs at six UK airports to 450, which it announced last month, and also reduces the main workplace staff to 108.
Confirmation of cuts comes a day after Marston’s pub and brewer announced the loss of 2,150 jobs, the biggest cuts in the sector since the pandemic started. Last week, Greene King said he cut 800 jobs and 79 bars and restaurants.
Wetherspoons said that since July 4, 429 workers have tested positive for coronavirus, 1% of its 43,000 workers, which the company said in line with the 0. 9% rate of positive tests in the general UK population and less than 1. 5% reported through Amazon. among its American workers.
Tim Martin, founder and president of JD Wetherspoon, said:
If pubs were actually “transmission centers,” one would expect infection rates to be higher among workers than among the general population or corporations like Amazon.
Raab’s comments on Brexit have lifted the pound, which has reduced its losses and is now almost solid against the US. But it’s not the first time In 1,2909.
British Foreign Secretary Dominic Raab said the UK is close to a Brexit deal.
However, speaking to Sky News this morning, Raab said he was disappointed by the EU’s request that the UK grant additional concessions to conclude an agreement with industry.
Reuters that Raab said:
We’ve been told it’s going to have to be the UK that makes all the commitments in the coming days, it might not be fair in a negotiation, so we’re surprised, but the Prime Minister will stay on it longer. Today.
However, he added:
That said, we’re close. With goodwill on our part, we can do it.
And we’re leaving! Here’s how stocks see EU market opening:
John Lewis’ association is committed to spending billions of pounds over five years to boost its online business and stores.
This morning, the company also pledged to increase its delivery capacity in Waitrose to more than 250,000 orders according to the week, up from 55,000 before the pandemic.
JLP aims at a benefit of about 400 million pounds for the organization in five years and has promised to pay a genuine living wage to all partners when they succeed in two hundred million pounds and has promised to pay bonuses to members when profits exceed 150 million pounds and their debt ratio decreases.
Few mentions of Covid and the pandemic in general, in the press release, however, the move to the virtual is no surprise, given that the stores had to sit down and figure out how to adapt to the immediate replacement in customer behavior from the beginning of the epidemic.
Hello and welcome to our ongoing policy of the global economy, money markets, the euro and businesses.
As Britain becomes familiar with the new Covid-19 restrictions that will come into force under the government’s new three-tier system, investors hope to know what will stand in the Brexit negotiations.
Today is the day Prime Minister Boris Johnson confirms whether the UK will continue the Brexit negotiations. Last month, Johnson set the deadline for the agreement on 15 October, saying that if nothing had been agreed, either party “accepts that and moves on, “giving the UK time to concentrate on agreements without agreement.
At a summit in Brussels on Thursday, the EU proposed “two or three more weeks” of negotiations. Markets are now in a position to see whether Johnson tries to move forward and succeed in a deal or heed last month’s threats and walk away.
The pessimism around Brexit caused the pound to fall back to 1. 2863 against the US dollar, with the cable now trading around 0. 2% to 1. 2886. Against the euro, the pound nearly stabilizes at 1,1014.
But all this is declining as the Covid crisis accelerates again, with instances spreading across Europe. France has declared a state of emergency and London is expected to face stricter restrictions from midnight on Friday.
Jasper Lawler, LCG’s head of studies, says stricter blocking regulations threaten economic recovery and can push European economies, adding the UK, to a double-fall recession:
The British government is under pressure to stick to the clinical recommendation of a two-week national blockade of the circuit breaker, but it has resisted so much, but capital has increased to the restrictions of point 2. This means that two other families can no longer be combined indoors, either at home or in a pub or restaurant.
There is still no sign of the unusual European stimulus fund, so in the meantime, economies are expected to suffer the blow – risking a double recession – of the new restrictions.
But after falling on Thursday, European stocks are expected to take place this morning:
Stay tuned!
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