Computer virus battered Reckitt Benckiser adds to Monday gloom .
Can its security fend off future outbreaks?
Trade unions have slammed a review into the gig economy and changing working practices across the UK . Unite, the country’s largest union said Tueasday’s report “spectacularly failed to deliver” on its promise to tackle the problem of insecure work, while the GMB described it as a “disappointing missed opportunity” . Business groups delivered a mixed reaction to the long-awaited Taylor review, with the Institute of Directors saying it “strikes the right balance”. Getty
2/29 Thames Water hit with 8.55m fine after failing to reduce leakages
While that is the premise of Snap’s popular messaging platform, investors also saw any gains from its red-hot IPO disappear when shares plunged far below their initial sale price on Tuesday . Morgan Stanley, a lead underwriter on the company’s initial public offering, slapped a price target of $16 ( 12.48) on the stock – a dollar below its March IPO price . Analyst Brian Nowak wrote in the note that we have been wrong about Snap’s ability to innovate and improve its ad product this year.
3/29 UK General election 2017: Pound sterling hovers near two-week high as voters take to the polls
Travel money and consumer finance startup Revolut secured $66m ( 51.3m) in funding last week, bringing total investment to $83m . The UK-based prepaid debit card provider offers foreign currencies at the Interbank or wholesale exchange rate – generally better than that offered by conventional bureau de change.
4/29 UK car production slumps by nearly a fifth in April as timing of Easter bites – Thursday May 24
I warned yesterday that Theresa May s Government would be unlikely to stand for it if Matthew Taylor s review into the Gig Economy proposed radical reforms to make Britain fairer . Turns out that she didn t have much to worry about on that score . The review contains lots of pretty words, but the likes of Uber, Deliveroo and the rest will probably be breathing a sigh of relief in the wake of its publication. PA
5/29 Marks and Spencer reports slump in profit hurt by clothing sales and cost of new food stores – Wednesday 24 May
An arm of the technology giant Samsung has decided not to set up its European headquarters in London because the city is not a fun place to live unless you are really rich . Speaking to The Times, Felix Petersen, the managing director of Samsung Next Europe, a $150m ( 117m) technology fund owned by the South Korean company, said that Berlin had been selected as a location for the fund instead.
6/29 English wine producers celebrate record turnover from past year
On the rise and no longer laughing, stocks of English wine have enjoyed a record year . Independent English wine producers have defied ridicule to register 132m in turnover from 2015-2016, an all-time high, according to new research by online business finance supermarket Funding Options. Getty
7/29 Ivanka Trump and World Bank to start fund for women entrepreneurs
The World Bank said it will start a fund to finance women entrepreneurs, an idea it developed in tandem with Ivanka Trump, the daughter of the US president . The Women Entrepreneurs Finance Initiative will make more than $1bn available to improve access to capital for women, the Washington-based development institution said Saturday . The fund will provide technical assistance and invest in projects and programmes that support women and women-led small- and mid-size businesses, said the World Bank, which bankrolls development in poor countries.
8/29 How to use a student loan to build a 4m travel business
Lee McAteer and his 100-strong team will send 20,000 British millennials to summer camps all over the world, from Massachusetts to Mali, this year, through his empire of holiday companies catering for 18-30s . You could call him a pretty successful businessman . Or you could call him Lee Mac, like the aspiring business owners he gives free space and support to at his hip office in Salford . Or even Britain s best boss like the Daily Mail did when he pranked his team by turning the whole office into a giant ball pit . Just don t call him an entrepreneur.
9/29 British Airways to pay strikers’ bonuses to cabin crew who are working
In a move that seems certain to inflame the cabin crew dispute, British Airways is paying staff working normally the bonuses that would have gone to their colleagues who are on strike . Members of Mixed Fleet, who are employed on less-favourable terms than longer-serving Heathrow cabin crew, are normally paid a bonus known as My Incentive . Karen Slinger, head of inflight customer experience, has told staff that the airline is saving money as a result of not paying My Incentive within Q1 and Q2 to those Mixed Fleet crew taking strike action . Reuters
10/29 Sports Direct boss Mike Ashley tells high court he is a ‘power drinker’ and enjoys binging
Mike Ashley has reportedly told a high court judge that he likes binging on alcohol and is a power drinker . On the fourth day of a trial in London, where the Sports Direct boss is being sued by investment banker Jeffrey Blue, Mr Ashley was asked how much he had been drinking when he allegedly made a deal with Mr Blue relating to Sports Direct s share price, according to the BBC.
11/29 Brexit concerns shrink UK’s lead as Europe’s top finance hub
Brexit concerns have bitten into the UK s lead as Europe s top financial services location for investors, new research shows . The UK s financial services industry has retained its title as Europe s most attractive location for international investment, but its lead has narrowed due to fears over the impact of Brexit, according to a report by professional services firm EY. Reuters
12/29 Longest squeeze on household incomes since 1970s, says ONS
The aggregate real disposable income of UK households has fallen for three quarters in a row for the first time since the 1970s, according to the Office for National Statistics . The ONS said that the inflation-adjusted compensation of the household sector fell 1.4 per cent in the first three months of 2017, reflecting spiking inflation and weak pay growth. Macrobond, The Independent
13/29 Brexit worries Wimbledon strawberry farmer who depends on EU workers
The owner of the farm which provides Wimbledon with its strawberries has said she hopes there is a mechanism for European citizens to work seasonally in the UK after Brexit .
Marion Regan, who owns Hugh Lowe Farms in Kent with her husband Jon, relies on seasonal labour to make sure Wimbledon is supplied with fresh strawberries throughout the tournament. Reuters
14/29 Consumer confidence slips back to post-Brexit vote lows
Consumer confidence is now almost back down to the lows seen in the wake of last June’s Brexit referendum, adding to a picture of a wilting consumer in the face of fast rising inflation and weak wage growth . The latest GfK Index slipped to -10 in June, down from -5 in the previous month, its lowest since last July.
15/29 Tobacco giant Philip Morris wants everyone to quit smoking
Philip Morris International, the world s second largest tobacco company, has said it wants people to quit the habit . Peter Nixon, UK and Ireland managing director for the global tobacco giant said We are absolutely serious – one day we want to stop selling cigarettes.
16/29 Alibaba s Jack Ma warns evolving technology could cause World War III
Chinese business magnate Jack Ma said that evolving technologies are likely to pose a threat to more than just the job market and could in fact trigger a Third World War . In an interview with CNBC, the billionaire chairman of Alibaba said that world leaders have a duty to educate people to prevent the pain caused by a rapid rise in automation and artificial intelligence.
17/29 Japanese bank Nomura chooses Frankfurt for EU headquarters after UK’s withdrawal
Nomura picked Frankfurt as the headquarters for its European Union operations after the UK leaves the bloc, people with knowledge of the matter said . Japan s biggest brokerage will start preparations this month to form a base in the German financial centre, one of the people said, asking not to be identified as the matter is confidential . It will seek regulatory approval and find office space before transferring fewer than 100 employees from London to the city, according to the person. Getty Images
18/29 will.i.am says artificial intelligence will be more disruptive to UK tech than EU withdrawal
The reckless rise of artificial intelligence is going to be much more disruptive for the London technology scene in the longer run than Britain s departure from the EU, according to musician, entrepreneur and philanthropist will.i.am . Speaking at an event celebrating his collaboration with Atom Bank, an app-based digital-only bank launched last year, the founding member of The Black Eyed Peas said that by 2030, Brexit will be an old school thought for the UK s rapidly evolving tech industry and AI will present a much more acute challenge.
19/29 How climate change will threaten food security of world’s poorest countries
Some of the world s poorest countries will be hit hardest as climate change affects marine fisheries all over the world, according to a new study . The global fishing industry produces a total catch worth of about $90bn ( 71bn) but the warming ocean temperatures are causing many valuable species to shift their usual ranges. Lisa Murray
20/29 Supersonic passenger jet to take off next year
An American firm is promising the return of supersonic passenger aviation, with transatlantic airfares about the same price as today s business class tickets . Boom, based in Denver, says London-New York will cost 2,000 one-way and take just 3 hours 15 minutes . With a planned cruising speed of 1,451mph, the plane is almost 100mph faster than Concorde.
21/29 Casamigos: George Clooney tequila brand sold for $1bn to drinks giant Diageo
George Clooney is selling his US tequila brand Casamigos to British beverage company Diageo for almost $1bn ( 790m) . The London-based distiller will initially pay $700m ( 553m) for Casamigos and possibly an additional $300m ( 237m) based on the performance of the brand over the next decade . The purchase will be Diageo’s biggest since it bought United Spirits for $3.2 billion ( 2.5 billion) in 2014. Getty Images
22/29 Jaguar Land Rover to create 5,000 new jobs
Britain’s biggest carmaker Jaguar Land Rover will hire 5,000 staff as it boosts its skills in autonomous and electric technology, a welcome business endorsement as Prime Minister Theresa May starts Brexit talks after a botched election . JLR, which employs more than 40,000 people globally, said it would hire 1,000 electronic and software engineers as well as 4,000 additional personnel including in manufacturing, most of whom will be based in Britain.
23/29 European shares rebound as Emmanuel Macron wins historic majority
Internet giants will face increased pressure to tackle online extremism as European leaders were expected to back a UK-led drive for tougher internet regulation . Foreign Secretary Boris Johnson will lead calls to ensure there is no safe space for terrorists to plot attacks and share radical material online when he attends a meeting of EU foreign ministers in Luxembourg on Monday. Reuters
24/29 The real reason UK employers hire European Union workers
While the end of free movement is presented by politicians as taking control , for employers it means quite the reverse it means a loss of control, it means new barriers to recruitment and, for some, the risk of irreparable damage . In our research at the National Institute for Economic and Social Research (NIESR) before and after the referendum vote we ve detected a gradual change in outlook among employers. AP
25/29 Boris Johnson calls on internet giants to leave ‘no safe space for terrorists’
Internet giants will face increased pressure to tackle online extremism as European leaders were expected to back a UK-led drive for tougher internet regulation .
Foreign Secretary Boris Johnson will lead calls to ensure there is no safe space for terrorists to plot attacks and share radical material online when he attends a meeting of EU foreign ministers in Luxembourg on Monday. Rex
26/29 Amazon to buy Whole Foods for $13.7 billion
Amazon, the e-commerce behemoth that sells everything from toothpaste to tennis shoes, has announced it will purchase grocery store Whole Foods for $13.7bn ( 10.7bn) . The Seattle-based retailer will buy the popular health food chain for $42 per share, pending approval by its shareholders. Getty
27/29 Workers producing Ivanka Trump’s fashion line subjected to verbal abuse and ‘poverty pay’
Ivanka Trump has come under fire again after workers at a factory making clothes for her brand in Indonesia described an environment of verbal abuse and poverty wages . More than a dozen workers at the factory in Subang told the Guardian that they regularly work unpaid overtime and are paid one of the lowest minimum wages in Asia, despite production targets that are impossible to meet.
28/29 EU launches antitrust investigation into Nike, Universal Studios and Hello Kitty owner
The EU has launched antitrust investigations into Nike, Universal Studios and the owner of the Hello Kitty brand, over their licensing and distribution practices within the single market . In a statement, the European commission said that it was looking into whether the three companies were illegally preventing retailers from selling certain goods licensed by them across borders and online, thereby breaking competition rules.
29/29 Morrisons is selling 16oz ‘Daddy of all burgers’ for Father’s Day
The daddy of all burgers has arrived, just in time for Father’s Day . Morrisons launched the huge, one pound, 18cm monster, which should satisfy even the hungriest of dads, on Wednesday . Each one is made by butchers in-store using 100 per cent British beef seasoned with paprika, sage and parsley . Morrisons claims it is the biggest beef burger money can buy in a UK supermarket, and it costs just 3 .
Shoppers will have to be quick however, as the oversized patties are only available until Sunday.
In stealth mode for the past two years, the cybersecurity startup Awake Security is now ready for its public debut.
Based in Mountain View, Calif., Awake’s founding team includes alumni of several tech and cybersecurity mainstays, including HP (hpe)1, CipherCloud, Cylance, FireEye (feye)2, McAfee (mfe)3, RSA, and VMware (vmw)4 . The company, which has done no press outside of a brief mention of its existence in Forbes in April5, is using big data and machine learning to help corporate security teams defend their networks.
Awake was incubated within the venture capital firm Greylock Partners by Michael Callahan, Awake’s cofounder and CEO and former Greylock entrepreneur in residence . Callahan previously served as cofounder and chief technology officer of PolyServe a big data infrastructure company that sold to HP6 in 2007 for an undisclosed sum, which Fortune has been told was in the 9-figure ballpark.
In addition to $8.7 million in initial funding from Greylock, Awake raised a second round of $22.5 million from Bain Capital Ventures at the end of last year .
The company’s total funding comes to $31.2 million to date.
Awake, now about 35-people strong, has developed an analytics product that parses network traffic and builds behavioral models of the activity within organizations . The tech is designed to be used within security operations centers, where companies manage their digital defenses, to help alert-fatigued teams more readily identify, investigate, and hunt for threats.
“We’re supercharging the ability of analysts to answer the questions they need to answer every day,” Callahan tells Fortune. “When you install this thing it’s like turning the lights on all the creepy crawlies taking advantage of the dark are now suddenly visible.”
Awake’s technology has drawn comparisons to that of the British cybersecurity firm Darktrace, which raised $75 million in funding8 for its AI-powered approach to security last week, as Fortune first reported . The tech also bears similarities to products made by cybersecurity startups Protectwise and Vectra Networks.
“They give you a timeline view, almost like a movie playing out with different scenes,” says Asheem Chandna, the partner at Greylock who led the deal and has joined the company’s board . That feature is useful for investigators who pore over digital records to determine the extent of a breach.
Indeed, catering to investigators is one of Awake’s top priorities . Gary Golomb, a veteran investigator who led a probe into network intrusions that targeted the presidential campaigns10 of former President Barack Obama and Senator John McCain in 2008, helped design the product.
For more on cybersecurity, watch:
Golomb, an ex-Marine, was one of the earliest employees at Cylance11, a cybersecurity startup privately valued at $1 billion, and prior to that was a top researcher at NetWitness, a network forensics firm acquired by RSA . He now hold the unconventional title of “chief security operations center whisperer” at Awake.
While developing its product, Awake worked alongside more than a dozen corporate security teams and had conversations with more than 200 security pros . One partner was the retailer the Gap.
” We are continuously looking at the latest techniques and technologies for rapid threat detection and response,” Richard Noguera, chief information security officer at the Gap12, said in a statement provided to Fortune. Noguera added that being able to provide feedback to Awake during the design process was “a truly refreshing approach.”
Salem previously worked with Callahan at the search engine company Ask Jeeves in decades past.
Salem told Fortune that his decision to invest, aside from being a vote of confidence in Callahan, was due to Awake’s aim of alleviating two problems that have plagued the cybersecurity industry .
The first is alert fatigue, in which security teams are inundated with a deluge of notifications, and the second is a persistent talent shortage.
Awake’s founding team also includes Keith Amidon, vice president of networking, who formerly served as director of engineering at VMWare, and Debabrata Dash, vice president of analytics, who formerly headed engineering at CipherCloud.
- ^ (hpe) (fortune.com)
- ^ (feye) (fortune.com)
- ^ (mfe) (fortune.com)
- ^ (vmw) (fortune.com)
- ^ brief mention of its existence in Forbes in April (www.forbes.com)
- ^ sold to HP (www.theregister.co.uk)
- ^ Get Data Sheet (pages.email.fortune.com)
- ^ raised $75 million in funding (fortune.com)
- ^ Ex-Cylance Tech Chief Starts New Company (fortune.com)
- ^ targeted the presidential campaigns (www.theguardian.com)
- ^ Cylance (fortune.com)
- ^ Gap (fortune.com)
- ^ Symantec (fortune.com)
- ^ (symc) (fortune.com)
In regards to access to courses, do UK reservists have access to the same courses the regulars do? More specifically, from what I can see there are only two Reserve units based in NI, the RMP Reserve and Military Intelligence. Would these two units have access to courses that would be of a similar standard to that of the regulars, would they do much of the same type of work or have the opportunity to train overseas or serve on overseas missions.
I’ve googled this a fair bit but the info is scant.
Any info in this regard would be appreciated, even by PM.
Read this article:
Courses in the UK Reserve units based in NI