Enormous Data Breach at Oracle

More news on the huge data breach at @Oracle, as the company CONFIRMS attack on PoS systems: https://t.co/Nb6VxdBPun #DataBreach #News

— Retail Secure (@retailsecure) August 11, 2016

Property Armageddon Averted

*U.K. JUNE MORTGAGE LOANS RISE 26% TO 68,200 VS MAY, CML SAYS

— Naeem Aslam (@NaeemAslam23) August 10, 2016

Despite the shrill warnings from Project Fear, it would appear that there has not been Armageddon in the property market post Brexit!

Britain's and China's Relations at "Cross-Roads"

UK: China's Ambassador says relations between two countries are at cross-roads following UK decision to review $23 billion nuclear project

— The Int'l Spectator (@intlspectator) August 9, 2016

The delay in order to "review" Hinkley Point has spooked the Chinese.

MPC Decision Day

"The most hotly anticipated BoE decision since three weeks ago" pic.twitter.com/AV0QL4Yiok

— Jonathan Ferro (@FerroTV) August 4, 2016

As I noted sometime ago, the Remain camp's warnings about interest rates going up post Brexit were utter bollocks!

The FCA Kowtows To The Banks

FCA gives in to pressure from banks to set cut off date for all PPI redress claims at end of June 2019 despite duty to protect consumers

— Paul Lewis (@paullewismoney) August 2, 2016

Political Pensions Meddling On The Horizon

As per the Telegraph:

"Millions of workers could be denied flexible access to their final salary pension pots if a radical shake-up to let companies ditch pension promises made to staff is passed by the Government. 

The move would prompt a rush of people trying to cash in their pensions which would need to be "slowed", the chairman of the Work and Pension Select Committee has said, as he prepares to launch an inquiry in which MPs will explore ways to contain the problem.
Under the measures, understood to be favoured by MPs and pension funds, cash-strapped employers would be allowed to reduce workers' pensions by tens of thousands of pounds without first going through courts. 

This would be likely to leave staff at some firms scrambling to move their money out of schemes as quickly as possible to fully encash their fund before their employer imposed cuts."

As ever, once the politicians start meddling with pensions you can guarantee there will be utter chaos!

Brexit - The Excuse De Jour For Failure

How "amusing" that companies are using Brexit as the excuse de jour for their own failings, in much the same way as they used to blame the weather!

No Post Brexit Property Apocalypse

#Brexit effect on housing market "not certain", Nationwide says, reporting slight rise in UK house prices in July https://t.co/CPvmkQg9L5

— BBC News (UK) (@BBCNews) July 28, 2016

Project Fear's warnings about a post Brexit property apocalypse were overblown!

Diamonds Are Forever - Anglo American Goes Back To Basics

Commodities giant Anglo American reports 23% drop in profit after prices slump https://t.co/7qg8qp7MCz https://t.co/9JZYjew44P

— Bloomberg (@business) July 28, 2016

#BHSGate - Chickens Come Home To Roost

The Telegraph reports that Dominic Chappell, the former owner of BHS, will attempt to repair his battered reputation today after MPs damned him as the “most egregious example of individual greed”.

The former bankrupt has confirmed that he received a legal letter from Sir Philip Green, who has threatened Mr Chappell and three of his other Retail Acquisition directors with legal action following their disastrous deal.

Mr Chappell is flying back into the UK after consulting with his lawyers about the report. He said he would not be drawn on his views on a select committee report into BHS's collapse ahead of making a full statement on Wednesday.

Mr Chappell has admitted that he has made £2.6m from BHS.

NatWest and RBS Might Charge for Deposits

Natwest and Royal Bank of Scotland (RBS) have warned businesses they may have to charge them to accept deposits due to low interest rates.

The banks are quoted by the BBC:

"We will consider any necessary action in the event of the Bank of England base rate falling below zero, but will do our utmost to protect our customers from any impacts."

Thus far personal customers are unaffected. However, that situation may change.

The move follows Dutch bank ABN Amro, which has warned its business customers that it will charge them for deposits.

As such, now is the time for people to consider lightening their cash balances held in banks and finding other means of holding wealth; eg under the mattress, or in precious metals.

#BHSGate - Green Demands Apology

As per economia libel lawyers acting for retail magnate Sir Philip Green have demanded an apology after MP Frank Field likened the retail tycoons conduct to that of former press baron Robert Maxwell.

In a letter seen by the Financial Times, law firm Schillings said that Field had wrongly alleged on the BBC's Today programme that Sir Philip had stolen money from the pension funds of companies he owned.

The law firm complained the comments were highly defamatory, completely false and likely to cause Sir Philip serious harm, and were not supported by anything in Fields parliamentary report into the collapse of BHS, published yesterday.

#BHSGate - Where's Sir Philip?

If I were Philip Green's PR advisor I think I might have advised him NOT to be on his £100m yacht on day BHS report published

— Ian Katz (@iankatz1000) July 25, 2016

#BHSGate - Sir Philip Green's Moral Duty

Sir Philip Green branded 'unacceptable face of capitalism' in MPs' scorching attack https://t.co/A4I2qYjz0E via @HuffPostUK

— Ann Driver (@ahddrv) July 25, 2016

How much is a Knighthood worth to Sir Philip?

#BHSGate

Witnesses appeared to harbour the misconception that they could be absolved from responsibility by blaming others. [168] #BHS

— Andrew Brooks (@taxbod) July 25, 2016