Friday newspaper round-up: TalkTalk, HSBC, Regulation

23rd Oct 2015 06:30

(ShareCast News) - The personal and financial details of more than four million TalkTalk customers may have been stolen in a cyberattack that brought down the telecom company's website. A police investigation has begun after the "significant and sustained" attack on the website on Wednesday by unidentified hackers. - The TimesThe US is emerging as a serious alternative to Hong Kong as the possible headquarters for HSBC, as Europe's biggest bank by assets considers shifting its base out of the UK. HSBC fired a warning shot to British politicians in April by announcing a review of whether to leave the UK two weeks before the general election. Shareholders welcomed the review, which was driven by concern about excessive tax and regulation. - Financial TimesThe City watchdog has warned that a push for more regulation is "unsustainable" and some introduced since the financial crisis should be dumped. Tracey McDermott, the interim chief executive of the Financial Conduct Authority, told senior financiers at Mansion House last night that there was "violent agreement" that the pace of change had gone too far. - The TimesBritish investors could soon begin legal action against banks accused of rigging foreign exchange markets, after Barclays, Royal Bank of Scotland and HSBC paid a combined total of almost $1bn (£650m) to settle claims in the US. The trio agreed to pay hundreds of millions of dollars each to end civil claims in New York brought by global companies, pension funds and hedge funds. - The Daily TelegraphMonsoon has been named and shamed by the government for failing to pay more than 1,400 workers the minimum wage. The privately owned fashion retailer is one of 115 companies caught in the latest swoop by HM Revenue and Customs (HMRC), which oversees implementation of the pay regulations. - The Guardian