London businesses suffer the highest level of employee frauds in the UK September 18, 2017 British businesses lost at least £40m last year from frauds perpetrated by their own employees, with London accounting for the largest chunk by far, new data published today has revealed. Losses from employee fraud were highest in the Greater London area covered by the Metropolitan Police, at £7m in 2016/17, according to government figures obtained [...]
Tesco Bank’s perception goes into the red after security breach November 16, 2016 Last week, news broke of a security breach which compromised the accounts of Tesco Bank customers. It was reported that £2.5m had been stolen from 9,000 customer accounts, with the worst affected losing up to £1,500. In the immediate aftermath, the company suspended online and contactless transactions. YouGov brand tracking data shows us how the [...]
Tesco Bank alerts thousands of customers to potential fraud November 6, 2016 Tesco Bank has notified thousands of customers that they may have been targeted by fraudsters. The supermarket-owned bank said it has identified "suspicious activity" via its fraud prevention systems on Saturday and is taking action as a precautionary measure. "We are sorry for the inconvenience we know this causes, however we want to do everything we [...]
Tesco share price falls despite sales rise in third trading quarter as investors focus on weaker Christmas trading January 12, 2017 Tesco's share price fell despite the supermarket giant reporting its first quarterly market share growth since 2011, as sales grew for the eighth quarter in a row. The figures Group like-for-like sales grew 1.5 per cent in its third trading quarter, with UK like-for-like sales growing even faster, at 1.8 per cent. The supermarket said it [...]
Tesco denies discriminating against state school children in Edinburgh outlet November 22, 2016 Tesco has been forced to deny that it was discriminating against state school students at one of its outlets in Edinburgh. The supermarket has come under attack for reportedly forcing children from Boroughmuir high school, a state school in the city, to stand behind a barrier and only allow the children inside in small groups. However, [...]
Palmer & Harvey collapses into administration despite rescue talks with Carlyle Group November 28, 2017 Palmer & Harvey (P&H), the UK’s biggest cigarette supplier, has collapsed into administration despite weeks of crunch takeover talks with private equity firm Carlyle Group, according to reports. PwC was appointed today to handle the administration. Matthew Callaghan, joint administrator and PwC partner, said: “The Palmer & Harvey name has been a trusted partner for [...]
Tesco executives to go on trial in September next year October 20, 2016 Three former Tesco executives have appeared in court today on fraud charges and a trial date has been set for September next year. Former finance director for Tesco UK Carl Rogberg, 49, ex-UK managing director Christopher Bush, 50, and ex-commercial director for food John Scouler, 48, have been charged with one count of fraud by abuse [...]
Tesco Bank fraud attack “unprecedented”, says City watchdog chief November 8, 2016 The head of the City watchdog has today called the attack which has hit thousands of Tesco Bank customers over the weekend "unprecedented and serious". Andrew Bailey was speaking in front of the influential Treasury Select Committee, where he acknowledged there was a shortage of talented tech staff within the banking sector and that the complexity of lenders' [...]
Solid fare expected from the UK’s listed supermarkets this week, including Tesco and Morrison’s, as a raft of retailers reveal their seasonal sales results January 8, 2017 The UK's three major listed supermarkets are expected to report solid Christmas trading this week, although investor focus will be on the outlook given this year's expected squeeze on consumer spending. On 10 January, Morrison's is expected to report underlying sales growth of 1.1 per cent for the nine weeks to 1 January according to [...]
Employees take Tesco to court over pay cuts October 16, 2016 Tesco employees are taking the retailer to court after it cut their pay. A group of 17 workers are fighting Tesco's decision to reduce their pay on weekends, bank holidays and evenings. Law firm Leigh Day has contacted Tesco to ask how many employees are affected, but have estimated that 50,000 staff face a pay cut. [...]