Financial Times: JP Morgan Chase is planning an ‘unmatched’ spending spree on new initiatives this year of more than $15bn.Daily Mail: Shares in takeover target Dechra fell after the pet healthcare company warned its annual profits will miss City forecasts.The Times: Shares in Big Yellow will be in focus this morning after the storage company reported an 89% drop in pre-tax profit for the year ending 31 March.Financial Times: Profits at Goldman Sachs, Morgan Stanley and a clutch of other Western lenders in China fell sharply last year.Daily Mail: Logistics firm Wincanton saw annual profits tumble 30% after some corporate customers insourced their warehouse and delivery needs to cut costs.The Times: Begbies Traynor is on course to deliver double-digit revenue growth as the insolvency firm continues to expect more challenges for UK businesses.The biggest sources of investment were the US, Switzerland and the UK. Financial Times: Germany recorded its highest level of foreign direct investment last year.The Times: Zoom has boosted its annual revenue and profit forecasts amid robust demand from companies considering their post-pandemic operations.The Guardian: Ryanair has bounced back to a near-record €1.4bn profit last year and expects to better that in 2023.The Times: UK retailers and manufacturers have warned the chancellor that scrapping tax-free shopping for international tourists is putting thousands of jobs in jeopardy.The Daily Telegraph: Jeremy Hunt has been rebuked by the statistics watchdog for the second time this year after wrongly implying public debt is forecast to fall.Financial Times: Credit Suisse staff are planning to sue the Swiss financial regulator over $400m (£323m) of bonuses that were cancelled following the bank’s takeover by UBS.The Daily Telegraph: London is falling behind rival financial centres as a result of overregulation and misguided political interventions, warns Nigel Wilson, head of Legal & General.
It is too early to know if Twitter will be facing a similar fine for its recent data breach. "Hopefully, the consequences here will encourage other enterprises to comply with cyber regulations and follow best practices to avoid a mercenary penalty in the future, particularly given cyber insurers increasingly setting a higher bar for due diligence to avoid extortionate payouts like this one." "So, whilst the initial data leak was back in 2021, it's nonetheless encouraging to see fines being issued retrospectively," Stevenson added. "Every single one of the 533 million Facebooks users whose information was published on hacking forums faced potential follow-up phishing scams exploiting their exposed PII (Personal Identifiable Information) in the pursuit of more valuable credentials," said John Stevenson, product director at cybersecurity firm Cyren, via an email. The information from "scraped data" had apparently included phone numbers, Facebook IDs, names, locations, DOBs, and email addresses. The news of the Twitter breach is noteworthy as Ireland's Data Protection Commission (DPC) also handed down a $265 million fine to Facebook parent Meta for a data breach that impacted millions of users of the social network in 2021.
#Meta breach for free#
That is likely of little comfort for the millions of Twitter users whose data may now be offered for free on the dark web.
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