Wessex Water and its shareholders are set to fund an £11 million package aimed at addressing failures in the company’s wastewater network, following findings from Ofwat that the utility did not adequately operate or upgrade parts of its system. The regulator announced the proposed enforcement action on Tuesday, opening a public consultation before a final decision is made.
Visa and Mastercard have agreed to a revised $38 billion settlement in an effort to resolve more than twenty years of litigation over credit card swipe fees. The card networks are hoping the updated proposal will satisfy U.S. District Judge Margo Brodie, who rejected a smaller settlement last year. Reuters was first to report the new agreement, which immediately drew criticism from several merchant groups who say the deal still doesn’t go far enough.
The Washington Post has confirmed that it was among the organizations affected in a broader hacking campaign exploiting vulnerabilities in Oracle’s E-Business Suite, a set of corporate software tools widely used to manage HR systems, business operations, and sensitive internal data.
The Australian Competition and Consumer Commission (ACCC) has warned retailers ahead of the Black Friday shopping period that it will be conducting a sales advertising sweep to detect misleading and deceptive promotional tactics.
A group of 21 European airlines has agreed to overhaul how they market the environmental impact of air travel, after EU consumer protection authorities found that some of their claims could mislead passengers about what paying extra for “green” flight options actually achieves.
Telecoms regulators from the United Kingdom, United States, Canada, Australia and New Zealand have agreed to step up cooperation to shore up the security and reliability of global communications networks, following three days of meetings hosted by Ofcom in London.
The Financial Reporting Council has issued sanctions against BDO and two former audit engagement partners after uncovering systemic failures that allowed a Senior Manager at the firm to carry out dishonest conduct on numerous audits over several years.