The U.K. data protection regulator has handed TalkTalk a fine of $509,834 for failing to take basic cybersecurity steps to prevent the 2015 data breach that affected 160,000 customers. Stay tuned to Sentifi for all the latest developments regarding this historic fine.
TalkTalk: Receives a record fine
It was the largest fine ever handed down by the data protection regulator. The company was accused by watchdog for not implementing measures that it could have implemented to prevent the breach, which allowed hackers to use a common technique to gain access to customers’ information.
Tesco: Shares rise 9.7 percent as CEO vows to widen margin
The company’s shares reached the highest point since August 2015 after CEO Dave Lewis set the goal to widen the operating margin to between 3.5 percent to 4 percent by 2020. The move signals Lewis’ intention to move from recovery mode to growth mode. He also plans for a £1.5 billion in cost savings over the next three years to fight against the tough competition from discounters Aldi and Lidl, who get 10 pence of every pound spent in the U.K. supermarkets.
Constell Brand: Stocks go up 4 percent on upbeat second-quarter financial results
The company registered $1.77 in earnings per share on $2.02 billion in revenue against the consensus estimates of $1.66 in EPS and $1.96 billion in revenue. The company also raised its guidance for fiscal 2017. It expects the EPS to be in the range of $6.25 to $6.40, net sales growth to be between 16 percent and 17 percent and operating income growth to be at the high teens level.
Arcturus Growthstar: Acquires App Portfolio
The LED lightning provider announced the acquisition of a large portfolio of revenue generating Apps and source code that will benefit the rapid rollout of a suite of marijuana-centric apps. Considering the App Portfolio’s trailing 12-month EBITDA was $139,000, the company will also receive consistent monthly income. The company’s shares surged 94.44 percent following the news.
Elliott Management Corp.: Pushes Samsung to reshape and simplify its structure
The hedge argues that the move would put the Korean company on equal footing with global rivals. It proposes an extraction of Samsung Electronics from the web through bundling its ownership stakes into a new holding company which would be listed in New York and Seoul. The company’s proposal is part of its goal to simplify complicated family ownership structures and improve corporate governance across Asia.
Endurance Holdings: Sompa Japan to buy the company for $6.5 billion
The Japanese company plans to buy all of Endurance’s outstanding shares instead of proposing a tender offer. The shares of the U.S. casualty insurer went up 4.42 percent following the news.
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