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Western Telegraph
08-07-2025
- Business
- Western Telegraph
M&S cyber attackers may have worked with Asia-based DragonForce, MPs hear
Archie Norman, who was quizzed by MPs, refused to say whether or not the retailer paid the group's ransom money following the hack. M&S was left unable to take any online orders for more than six weeks when its systems were targeted by hackers at the end of April. It was not an overstatement to describe it as traumatic Archie Norman, M&S chairman It has estimated the attack would cost it around £300 million in lost profits – but expects to recover as much as half of the impact through cost management, insurance and other reactions. Mr Norman, speaking at a Business and Trade select committee, said it was 'not an overstatement to describe it as traumatic', adding: 'We're still in the rebuild mode and will be for some time to come.' Talking about the nature of the attack, he told MPs that the hackers 'never send you a letter signed Scattered Spider, that doesn't happen'. It is believed that this group were former computer gamers who graduated into cyber – that may not be true, I'm relying entirely on hearsay Archie Norman, M&S's chairman 'The attacker is working through intermediaries too, so we believe in this case there was the instigator of the attack, and then – believed to be DragonForce – who are a ransomware operation based, we believe, in Asia. 'So you've got loosely aligned parties working together. 'We took an early decision that nobody at M&S would deal with the threat actor directly – we felt the right thing was to leave this to the professionals who have experience in the matter.' 'It is believed that this group were former computer gamers who graduated into cyber – that may not be true, I'm relying entirely on hearsay,' Mr Norman said. The chairman said the so-called 'threat actors' also chose to communicate with the media, and were in contact with the BBC following the hack. Mr Norman stressed that he would not talk about the nature of the discussions that had taken place with the hackers. However, when asked whether businesses have to pay the ransomware demand following an attack, he said: 'No I don't think you do. That's a business decision… the question businesses have to ask is when they look at the demand, what are they getting from it? 'Because once your systems are compromised and you're going to have to rebuild it anyway, maybe they've exfiltrated data that you don't want to publish, maybe there's something there. 'But in our case, substantially the damage had been done.'
Spectator
06-07-2025
- Politics
- Spectator
Do men really want more paternity leave?
How do you solve a problem like modern fatherhood? According to Jonathan Reynolds, Secretary of State for Business and Trade, paternity leave is how. As he launched his new review looking into maternity, paternity, shared parental leave and financial support offered to new parents this week, Reynolds stated that he wanted it to become as 'culturally accepted' for fathers to spend time at home after a baby is born as mothers. Reynolds, a father of four, must know that paternity leave take-up in this country is notoriously poor: only 59 per cent of fathers took paternity leave after the birth or adoption of a child, with many citing the low rate of statutory pay (£187.18 per week) as the reason. Nearly two decades after the establishment of paternity leave in this country, research conducted by University College London suggests that the UK has the least generous paternity leave entitlement in Europe. Apparently, as a nation, we have some serious Daddy issues. But let me flip this on its head for a moment. What if the barriers to paternity leave are not economic? What if fathers don't want to take paternity leave beyond two weeks because they want to preserve traditional gendered roles in a partnership? What if – and this is truly unfashionable to say – fathers want to care for their children from the relatively distant pulpit of the paterfamilias? Can paternal love still take place if a father observes his offspring sleeping peacefully in the evening as he loosens his tie? Must modern paternal love be predicated on a father singing 'Wind the Bobbin Up' at Monkey Music? Contemporary wisdom holds not, laying 'toxic masculinity', damaged children and depressed fathers at the door of current paternity leave directives. The Guardian reports that 'bad policy' has far-reaching implications, citing a report from Georgetown University that posits that the children of 'traditionalised' couples find it hard to bond with their fathers. For their part, fathers who only take two weeks of paternity leave are at risk of 'poor mental health' according to Elliott Rae, founder of campaign group Parenting Out Loud. If reports are to be believed, fathers who choose to head to the relative safety of work after two weeks of nappy-changing and baby rocking, are going to hell in a handcart, their children total strangers to them. As ever, allow me to counter this argument with my own experience. After the birth of our first child, my husband took the weekend off before he went back to work, kissing the new and very noisy occupant of our flat goodbye at 6 a.m. Although he was entitled to two weeks of paternity leave, he chose not to take it up, something I am quite sure had nothing to do with the 'stigma' of paternity leave or the back-slapping bravado of Goldman Sachs bankers who congratulate their colleagues who return to the desk straight from the labour ward. Put simply, I think he needed – and wanted – to go back to work. I believe that his much fretted over mental health was better because of it and, by extension, mine. Did I worry for his future bond with his new daughter? Not a bit of it. We both understood that the equilibrium of the household would be far better if someone got to maintain their sense of 'normal' and furthermore that not all 'Daddy' bonds are established at 3 a.m. in a darkened nursery. Fatherhood, after all, is a long game. The noisy baby is now seven and thinks that Daddy is, quite simply, the best person in the world ever: 'I'm sorry, Mummy, but he's just funnier than you'. Fine; great! When our second child was born, my husband did take two weeks of paternity leave, partly because I needed someone to do the school run. My memory of this time is rather diffuse, but I recall us eating crisps and watching several disturbing documentaries on Bitcoin and Jimmy Savile while the baby slept in the middle of the day. I did not, as I recall, experience any extreme euphoric uplift in my mental health because he was there and I certainly don't think that the gender revolution or pay gap in the home could have been altered in those two weeks or – heaven forbid – any longer. So, how do you solve a problem like contemporary fatherhood? Maybe we could apply the wind the bobbin up approach: 'wind it back again, wind it back again', and see if the old 'Trad Dad' bobbin was any better. It couldn't, at any rate, be worse than the current bobbin: pulled in so many different directions that it risks unravelling altogether.
Deccan Herald
17-06-2025
- Business
- Deccan Herald
Goyal to discuss India-UK FTA implementation with British counterpart during 2 day London visit
During the visit, Goyal and Secretary of State for Business and Trade Reynolds, 'will engage with the India-UK FTA negotiating teams to take stock of the progress achieved and to chart a clear, time-bound roadmap toward finalisation and implementation of the agreement', the official said.
Time of India
21-05-2025
- Business
- Time of India
Trading with India will be 'quicker, cheaper, easier' post-FTA, says UK
It will be "quicker, cheaper and easier" for British companies to trade with India as a result of the bilateral Free Trade Agreement (FTA) struck earlier this month, the UK government said on Wednesday. Business and Trade Secretary Jonathan Reynolds described the FTA as the "best deal India has ever agreed to" as he convened a revamped advisory board for its first meeting, tasked with boosting exports to grow the UK economy. The Board of Trade, made up of UK business experts, is charged with delivering targeted support for small businesses across the country and helping firms utilise the exporting opportunities from the UK's recent FTAs - with the India pact followed by a US deal. "Today marks the beginning of a new chapter for British trade. This Board isn't just a talking shop - it's a hands-on, dynamic force that will help businesses of every size access global markets and seize the opportunities created by our landmark trade deals," said Reynolds, who concluded the UK-India FTA negotiations during Commerce and Industry Minister Piyush Goyal's visit to London earlier this month. "We've already secured the best deal India has ever agreed to, and our US agreement has slashed tariffs for our steel and automotive sectors, protecting hundreds of thousands of British jobs," he said. The Department for Business and Trade (DBT) said its India trade deal is expected to be a "shot in the arm" for the UK's exports of whiskies and gin, cosmetics, medical devices, advanced machinery and lamb and is expected to increase bilateral trade by an estimated GBP 25.5 billion a year in the long term. Live Events "Trading with India will be quicker, cheaper, and easier thanks to improved customs processes and by promoting digital systems, which will be particularly important for SMEs (small and medium enterprises) who may have otherwise been unable to break into the Indian market," DBT said. The UK-India FTA has been dubbed a "landmark trade deal", worth GBP 4.8 billion annually to the UK economy by 2040 as a result of "slashed tariffs across the board". "The UK-India Free Trade Agreement is a significant achievement that will create new opportunities for UK and Indian businesses, enable greater access to one of the world's largest and most dynamic markets, and drive growth and innovation across the UK-India corridor," said Bill Winters, Group Chief Executive of Standard Chartered and Co-Chair of the UK-India Financial Partnership. "The UK exported nearly GBP 300 million worth of food and drink to India in 2024, so this FTA represents a significant opportunity for British food and soft drinks," said Karen Betts, Chief Executive of the UK's Food and Drink Federation. "The FTA will also provide UK manufacturers with greater access to ingredients produced in India, strengthening the supply chain resilience and competitiveness for our sector," she said. According to DBT, Wednesday's first meeting of the Board of Trade comes as part of a wider series of measures to boost the number of high-growth SMEs across the UK. The high-profile group, made up of popular entrepreneur Mike Soutar, BT Group Chief Executive Allison Kirkby and Small Business Britain founder Michelle Ovens as ambassadors and advocates for British businesses, set about to unpick the "breakthroughs with both India and the United States". "It is encouraging to see new deals struck in recent weeks and a real boost to energy and ambition. Almost all businesses in the UK are small businesses, and they have a major impact on the economy, employing millions and creating and supporting communities," said Ovens. The board will advise on the delivery of the government's forthcoming 'Trade Strategy' and 'Small Business Strategy', to ensure both align with the economic growth agenda to raise living standards across all parts of the UK. It also comes close on the heels of the US trade deal with President Donald Trump, which the Prime Minister Keir Starmer led government says will protect jobs in the automotive, steel, aluminium, pharmaceutical and aerospace sectors - employing over 320,000 people across the UK.
North Wales Live
12-05-2025
- Automotive
- North Wales Live
Major changes to driving laws could be introduced affecting all motorists
Major overhauls of the UK's driving regulations are on the cards. The DVSA is being asked to join forces with road users as anticipations grow for alterations to tyre laws, empowering Trading Standards to take significant action. The Transport Secretary and the Business and Trade Secretary are being asked to overhaul of policies governing the trade of pre-used tyres. According to Auto Express, there's an ongoing campaign urging the Labour-led administration "to beef up regulations around the standards expected of part-worn tyre retailers, through an officially backed accreditation scheme for retailers." The automotive journal warns: "This would offer consumers a level of quality and service that's all-too-often missing in the market today, and while it would potentially increase costs to customers a little, it would also greatly improve peace of mind." For money-saving tips, sign up to our Money newsletter here Pressing appeals have been directed at Transport Secretary Heidi Alexander and Business and Trade Secretary Jonathan Reynolds for an expeditious revision of the rules surrounding the commerce of second-hand tyres amid a thriving industry, as reported by Birmingham Live, reports Yorkshire Live. Meanwhile, an individual from the Chartered Trading Standards Institute (CTSI) has remarked: "Consumer data and intelligence show that this is not an area where there have been many complaints in comparison to other competing demands." The DVSA has confirmed their commitment to road safety, stating: "However, we work closely with relevant local Trading Standards offices to carry out intelligence-led investigations into the sale of part-worn tyres and to address evidence of non-compliance." They further clarified their role by adding: "DVSA ensures tyres have basic safety checks as part of inspections through the MoT test and roadside enforcement." Ruth Cadbury, chair of the Transport Select Committee, raised concerns about tyre safety on UK roads, citing alarming statistics: "Defective tyres are contributing to a growing number of serious incidents on our roads. "Department for Transport data shows that 384 such incidents were recorded in 2023, the highest number in four years. Indeed, 13 people were tragically killed in that year." She called for decisive action against the sale of substandard tyres: "Clamping down on traders selling part-worn tyres that aren't up to standard would help reduce this alarming rise. "It is vital that local-authority Trading Standards teams are equipped with both the expertise and the resources to investigate and help reduce the risk to life or of serious injury." Echoing her sentiments, Andy MacNae, MP for Rossendale and Darwen and the new chair of the all-party parliamentary group for transport safety (PACTS), emphasised the importance of ensuring the safety of part-worn tyres: "While there's a market for part-worn tyres, we have to make sure that those sold are safe and don't put customers and others on the road at risk. "This is something I hope the Government looks seriously at in their upcoming Road Safety Strategy."
