UK small businesses being priced out of cyber insurance by high premiums and cost-of-living crunch June 16, 2022 The UK’s small businesses are increasingly being priced out of cyber insurance policies, due to sky-high premiums and the cost-of-living crunch. Almost a third (29 per cent) of companies with fewer than 250 staff cancelled their cyber insurance policies last year, as part of efforts to cut costs, research from GlobalData shows. A further 17.3 [...]
Raab says scrapping Human Rights Act will let government send migrants to Rwanda June 16, 2022 Justice secretary Dominic Raab has said scrapping the Human Rights Act will allow the government to begin successfully sending asylum seekers to Rwanda. Speaking to the BBC, Raab blamed the UK’s Human Rights Act (HRA) 1998 for blocking this week’s Rwanda flight, as he said the government’s plans to replace the HRA with a new [...]
Apple to face £768m lawsuit over claims iPhone update slowed down devices June 16, 2022 Apple is set to face a £768m class action lawsuit over claims it misled iPhone users into downloading updates that slowed old iPhones down. Campaigner and consumer champion Justin Gutmann has filed a claim to the competition appeals tribunal, seeking around £768m in damages for up to 25m British iPhone owners. The lawsuit comes after [...]
KPMG strikes deal with Alteryx to boost data analytics capabilities June 16, 2022 KPMG entered into a “strategic alliance” with California tech firm Alteryx, as part of the accountancy firm’s push to boost its data analytics capabilities. The Big Four firms’ deal with the analytics automation firm will see KPMG push forward with plans to automate its own systems, while also giving it the means to help clients [...]
Uber calls on rivals to offer employment benefits as Bolt faces trade union lawsuit June 15, 2022 Uber has called on its rivals to give drivers employment benefits, after one of the UK’s biggest unions said it is taking legal action against ride-hailing app Bolt over its lack of workers’ protections. Britain’s third largest trade union, GMB, is set to file legal proceedings against Bolt, in a bid to force the Estonian [...]
Law Society calls £404m spent on court agency staff an ‘expensive sticking plaster’ June 15, 2022 The Law Society has hit out at HM Courts and Tribunals Service (HMCTS), after the government admitted spending £404m on court agency staff over a five-year period. The solicitors’ association called the government’s use of agency staff an “expensive sticking plaster,” as it said the £404m sum “could be put to better use”. “To [...]
Dominic Raab intervened to increase legal watchdog’s fining powers June 15, 2022 Justice secretary Dominic Raab personally intervened to push forward plans to increase the solicitor’s watchdog’s fining powers, after MPs called for a toughening up of the regulator, to deter law firms from working for oligarchs. The Deputy Prime Minister “sought the views” of the Law Society, Solicitors Regulation Authority (SRA), and Legal Services Board, whilst [...]
Solvency II shakeup will boost UK insurers’ competitivity, Bank of England exec says June 15, 2022 A high-ranking exec from the Bank of England’s (BoE’s) financial services watchdog has said the government’s plans to overhaul Solvency II will boost the insurance sector competitivity. Charlotte Gerken, executive director of insurance at the BoE’s Prudential Regulation Authority (PRA), said the government’s plans for reforms of Solvency II will increase the UK insurance sector’s [...]
Specialist insurer PIC buys out House of Fraser pensions scheme for £600m June 14, 2022 Specialist insurer Pension Insurance Corporation (PIC) bought out the House of Fraser pensions scheme, in a deal worth £600m, following the department store chain’s collapse in 2018. The British insurer will take over control of the pension scheme, which was formed in 2013, for ex who worked at House of Fraser, and its two subsidiaries [...]
JP Morgan wins £1.4bn court battle against Nigeria June 14, 2022 A High Court judge today ruled in favour of JP Morgan, after dismissing Nigeria’s $1.7bn (£1.4bn) lawsuit against the bank, over claims it acted negligently by transferring $875m to an account linked to convicted money launderer and former Nigerian oil minister Dan Etete. The ruling comes after Nigeria first sued JP Morgan in 2017, over [...]
