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TSB IT chief ‘kept board in dark’ before systems meltdown

TSB IT chief ‘kept board in dark’ before systems meltdown

Business
The IT chief of TSB Bank failed to inform board members about "shortcomings" with the testing of a new technology system days before it crashed - resulting in nearly two million customers losing access to their current accounts.Sky News has learnt that a long-awaited report by the City law firm Slaughter and May on TSB's IT meltdown last year will say that Carlos Abarca made an "ill-judged" assessment of the lender's readiness to proceed with the migration. The report is expected to be published on Tuesday.The subsequent crisis cost TSB's chief executive Paul Pester his job, and the bank £370m in customer compensation and expenses related to the long-running inquiry.Mr Abarca is understood to have been identified in the Slaughter and May report as having failed to escalate concerns about t
Twitter bans all political advertising, chief executive says

Twitter bans all political advertising, chief executive says

Technology
Twitter says it is banning all political advertising around the world because of an evolving risk from highly targeted ads, misleading information and "deep fakes".The policy comes in on 22 November, so will affect the UK general election and next year's US election. Donald Trump's campaign team has attacked the decision as "very dumb" and "yet another attempt to silence conservatives".In a series of tweets, Twitter boss Jack Dorsey explained the decision, saying "political message reach should be earned, not bought". We’ve made the decision to stop all political advertising on Twitter globally. We believe political message reach should be earned, not bought. Why? A few reasons…🧵— jack 🌍🌏🌎 (@jack) October 30, 2019 "A political message earns reach
Facebook chief rules out banning political adverts

Facebook chief rules out banning political adverts

Technology
Facebook's founder Mark Zuckerberg has said he does not think it is right for a company to censor politicians or the news in a democracy.He was giving a speech in Washington DC following weeks of criticism over the firm's decision not to ban political adverts that contain falsehoods.He added he had considered barring all political ads on his platforms.But he said he believed the move would favour incumbent politicians and whoever the media chose to cover.And Mr Zuckerberg said that even if he had supported the idea, it was not clear where his firm would draw the line.Instead, he said, he had decided the company should "err on the side of greater expression"."We're at another crossroads," he said."We can either continue to stand f...
SBI chief to ED/CBI:Keep off companies under IBC, go after promoters

SBI chief to ED/CBI:Keep off companies under IBC, go after promoters

Finance
Mumbai: State Bank chairman Rajnish Kumar on Tuesday said the Enforcement Directorate and other central law enforcement agencies should restrict to attaching personal assets while investigating a promoter and keep off the company which is under the insolvency process. Speaking a day after NCLAT asked the ED to release the attached properties of Bhushan Power & Steel which is being taken over by JSW Steel, Kumar asserted the lenders' first right of taking charge of an asset of its bank-financed and said no one should dispute the same. "Any action which ED or any other central authority has to take, they can take with the existing promoters and attach their personal assets leaving their companies away," he said, speaking at a Bloomberg event here. Kumar said the agencies should fo...