crisis – Muhasebe News

UK faces employee crisis since Brexit

MuhasebeNews — Thu, 03 Jan 2019 07:00:06 +0000

The UK’s manufacturing sector faces the biggest crisis in finding qualified workers since 1989.

The level of employment and the number of employees coming from EU member countries decreased drastically following Brexit vote.

British Chambers of Commerce (BCC) declared that more than four-fifths of manufacturing firms had difficulty in finding qualified employees.

A survey taken by the lobby featuring more than 6,000 employers throughout the country brought out that 81% of manufacturing firms and 70% of service firms struggle in finding employees who have the required qualifications and experience.

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Bitcoin crisis continues

MuhasebeNews — Sat, 08 Dec 2018 06:30:20 +0000

Bitcoin is at a 15-month low.

Bitcoin is now trading a little below $3,400.

Other crypto currencies Ripple/XRP, ethereum, stellar, litecoin and numerous other cryptocurrencies have göne down dramatically last week.

Little tangible news explain or justify the current crypto crisis.

Crisis hits Huawei!

MuhasebeNews — Fri, 07 Dec 2018 12:30:57 +0000

Meng Wanzhou, the Chinese tech company’s chief financial officer, was detained in Vancouver on Saturday at the request of US authorities.

The US and Canadian governments haven’t specified what charges Meng faces, but her arrest follows reports this year that the US Justice Department was investigating whether Huawei violated American sanctions on Iran.

It has been a really tough year for the tech company.

“This type of action will affect the atmosphere around the negotiations — making them less likely to bring a sustainable settlement,” the Eurasia Group analysts said about the trade war between China and the U.S.A.

On Wednesday, UK telecoms group BT (BT) said it would not buy equipment from Huawei for the core of its next generation wireless network.

BT also said it would remove existing Huawei technology from the heart of its 4G network within two years.

Huawei’s ambitions of becoming a global leader in 5G technology took a major hit in August, when Australia blocked Huawei from providing 5G equipment for the country’s wireless networks.

The Australian government said that the involvement of telecom equipment suppliers “who are likely to be subject to extrajudicial directions from a foreign government that conflict with Australian law” could mean the country’s wireless carriers are unable “to adequately protect a 5G network from unauthorized access or interference.”

Another Marriot crisis!

MuhasebeNews — Sun, 02 Dec 2018 06:00:39 +0000

Personal data including credit card details, passport numbers and the dates of birth of up to 500 million people has been stolen in a “colossal” hack of Marriott International.

The company said it first became aware of a security breach in early September, but that further investigation revealed unauthorised access to the guest reservation database dating back to 2014.

Marriot stated that the extent of the compromised data varied by guest.

But it included names, mailing addresses, phone numbers, email addresses, passport numbers, Starwood Preferred Guest account information, dates of birth, gender, arrival and departure information, reservation dates, and communication preferences, as well as card numbers and expiration date.

Although credit card information was encrypted, Marriott has not been able to rule out the possibility that the encryption keys were also stolen.

The president and chief executive of Marriott International Arne Sorenson said: “We deeply regret this incident happened. We fell short of what our guests deserve and what we expect of ourselves. We are doing everything we can to support our guests, and using lessons learned to be better moving forward.”

The data breach is likely to attract the attention of European regulators, both for the scale of the problem, and the delay in reporting it to the public.

The general data protection regulation (GDPR) allows for fines for data breaches of up to 4% of annual turnover; in Marriott’s case, that would imply a maximum fine of £117m.

Severe crisis in the U.S Bank

MuhasebeNews — Fri, 21 Sep 2018 14:00:14 +0000

Severe crisis in the U.S Bank

The troubled US bank Wells Fargo is planning a steep reduction of staff that could affect more than 26,000 people.

The firm said it expects headcount to decline by 5% to 10% over the next three years, through a combination of cuts and regular attrition.

The move is part of an effort to make the bank more efficient, as the sector moves online, boss Tim Sloan said.

The firm is also trying to recover from a series of damaging scandals.

The California-based bank attracted public outrage in 2016 after it emerged that sales associates had opened millions of accounts without customer permission.

Source: BBC News
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.