Yahoo under pressure over hacking and privacy fears

Yahoo under pressure from EU regulators over hacking and alleged email privacy breachYahoo under pressure from EU regulators over hacking and email privacy

It’s not been a great year for Yahoo. Following news of a large-scale account hack, perpetrated two years ago but only recently announced to the public, the company is now in hot water over its decision to scan clients’ email accounts on behalf of US authorities. European politicians have called on the European Commission (EC) to investigate the incident which could interrupt the progress of the transatlantic data sharing deal agreed earlier this year and is likely to touch a nerve with Europeans who fear mass surveillance by US. Read more…

Uber drivers win landmark case in UK

Tech firm Uber forced to review employment contractsTech firm Uber forced to review employment contracts

The gig economy in the UK has just been dealt a blow after an employment tribunal ruled that two workers for Uber had the right to be considered as employees and should be paid the national living wage as well as holiday and sick pay. The ride-hailing company had defended the case on the grounds that it was a tech platform and that its drivers were self-employed contractors. The case leaves Uber open to further claims and could pressure other companies to review the way staff are contracted and paid. Read more…

Japan’s SoftBank acquires British tech company

Japanese telecoms company SoftBank acquires UK’s ARM Holdings for close to $33 billionSoftBank snaps up UK’s ARM Holdings for $32 billion

Japanese telecoms business SoftBank has made a high-speed deal to buy British smartphone chip company ARM Holdings for $32 billion, as the company targets the ‘internet of things’ technology market. Negotiations were incredibly swift, resulting in a $22-cash-per-share offer – significantly above ARM’s previous closing price – following hard on the heels of a brief round of talks. Larger-than-life CEO of the Japanese group, Masayoshi Son, approached ARM bosses Simon Segars and Stuart Chambers informally for discussions, before concluding the final offer within just two weeks. Read more…

Will London lose its ranking as the world’s financial capital post-Brexit?

London is the financial capital of the UK but will it maintain its appeal after Brexit?The race is on to be the new London

June’s surprising referendum result has put the UK on track to leave the European Union, at the same time sparking speculation that its capital city will experience a mass exodus as overseas-owned banks seek to secure their trading position within Europe. Some organisations already have a foothold in mainland Europe and may be prepared to adopt a ‘wait and see’ approach before jumping ship. But if London does lose its passporting arrangements, which European cities are in line to seize its banking crown? Read more…

IMF have issued a warning over Eurozone growth following Brexit referendum

IMF signals economic slowdon in eurozone

IMF expresses fears over Eurozone growth

The result of the UK’s Brexit vote is damaging economic stability across the European Union. The International Monetary Fund (IMF) has downgraded growth outlook for the Eurozone and its managing director, Christine Lagarde, is warning of an economic slowdown as confidence dips and markets suffer increased volatility. GDP across the single currency bloc is only expected to grow by 1.6% this year, with a further drop to 1.4% in 2017. The IMF has put this down to the negative impact of the UK referendum and fears that the slowdown will have a knock-on effect in other economies, especially emerging markets. Read more…

After Brexit, will other EU countries follow suit?

After Britons voted to leave the EU, will other countries follow their lead?After Britons voted to leave the EU, will other countries follow their lead?

Europe is in turmoil after the shock outcome of Britain’s referendum which saw a slim majority of is citizens vote in favour of Brexit. The imminent separation of the UK from the European Union has given voice to political parties in other countries, which are calling for people to be given a voice on their membership of the bloc. But, after the global reaction to the UK’s momentous decision, how likely are other members to push for referendum? Read more…

Brexit fallout – the likely outcomes

Britons have narrowly voted to leave the European Union but what are the consequences?Britons have narrowly voted to leave the European Union but what are the consequences?

There was plenty of anxiety in the run-up to the UK referendum on its membership of the European Union, but few could have predicted the full impact of the shock decision to leave. In the event, more than 17 million Britons voted to withdraw from Brussels which has brought into sharp focus a debate about some of the likely outcomes. With issues ranging from the problems of economic instability to the possibility of a break-up of the union itself, it appears that the Brexit result could have much wider implications than originally thought. Read more…

Britain votes Brexit – what happens next?

In a shock result, Britons have narrowly voted to leave the European UnionAfter Britain’s historic vote to leave the EU, what are the implications?

The shock result of the UK’s referendum on EU membership is causing uncertainty across the world. On Thursday 23 June, more than 17 million Britons voted to exit from Brussels. Although formal negotiations will take two years to conclude, the response from the stock markets was swift with exchanges everywhere seeing an instant downturn, as well as flight from the pound. The country has been stripped of its triple-A credit rating. The prime minister stepped down and will leave it to his successor to enact Article 50 of the Lisbon Treaty which will begin the Brexit process. Read more…

Markets shocked as Britain votes to Brexit from the European Union

In a shock result, Britons have narrowly voted to leave the European UnionIn a shock result, Britons have narrowly voted to leave the European Union

After months of high-octane campaigning and angry deadlock between Westminster’s leading politicians, The United Kingdom has voted to end 43 years of European Union membership. It was a close-run referendum; in the weeks preceding, had been predicting a difference of just a few percentage points between the ‘Remain’ and ‘Leave’ sides. Despite Remain appearing to take a marginal lead, tense hours of voting on 23 June delivered a win for the Leave camp of 52%-48%. Read more…

Austerity not working, claim IMF economists

International Monetary Fund claim austerity measures aren’t good for global economyInternational Monetary Fund claim austerity measures aren’t good for global economy

Economists from the International Monetary Fund have issued a stern warning that austerity measures promoted by countries such as the UK and Germany aren’t helping to grow the global economy. The IMF article blames the last few decades of neoliberal strategies, arguing that while the expansion of global trade has lifted millions out of poverty and the privatisation of state-owned enterprises has led to the more efficient provision of services, the approach has failed to deliver in other areas. Read more…