Only big fines will change how the auditors audit

Splitting a firm’s audit and consulting functions has merit but only large penalties will affect proper change•Watchdog finds work of Patisserie Valerie auditor unacceptableThis time last year the Financial Reporting Council tried to read the riot act …

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Marriott to be fined nearly £100m over GDPR breach

ICO imposes fine after personal data of 339 million guests was stolen by hackersThe international hotel group Marriott is to be fined almost £100m by the Information Commissioner’s Office after hackers stole the records of 339 million guests.In Novembe…

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Consumer spending at weakest since mid-90s amid Brexit chaos – BRC

Retailers say total sales fell by 1.3% in June while annual rate of growth slowed to 0.6%Fears that Britain’s economy has come to a standstill have been heightened by a report from retailers showing annual consumer spending at its weakest since their r…

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British Airways fine shows GDPR has given watchdogs teeth | Nils Pratley

The ICO is now a regulator to be feared – and tech giants should be warned by BA’s potential £183m hitBritish Airways is “surprised and disappointed” that it could be fined £183m by the Information Commissioner’s Office (ICO) for a data breach, says it…

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BA faces £183m fine over passenger data breach

ICO says personal data of 500,000 customers was stolen from website and mobile app British Airways is to be fined more than £183m by the Information Commissioner’s Office after hackers stole the personal data of half a million of the airline’s customer…

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Revealed: Facebook’s global lobbying against data privacy laws

Social network targeted legislators around the world, promising or threatening to withhold investmentFacebook has targeted politicians around the world – including the former UK chancellor, George Osborne – promising investments and incentives while se…

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No-deal Brexit would harm EU countries as well as UK, warns IMF

Growth across Europe forecast to fall if UK adopted WTO rules, with Britain worst affectedBritain crashing out of the EU without a deal would inflict significant economic pain across Europe leaving the region without any winners, the International Mone…

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