British Airways – 380,000 card payments ‘compromised’
Shares of British Airways’ parent company IAG fell around 4% as markets opened on Friday morning, hours after the airline said the credit card information of at least 380,000 customers had been “compromised” in a data theft. The airline said people using BA.com and its mobile app for flight bookings were targeted by hackers between…
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Wan Wei Han
China’s ‘Silk Road’ project runs into debt jam
CHINA’S massive and expanding “Belt and Road” trade infrastructure project is running into speed bumps as some countries begin to grumble about being buried under Chinese debt. First announced in 2013 by President Xi Jinping, the initiative also known as the “new Silk Road” envisions the construction of railways, roads and ports across the globe,…
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Wan Wei Han
Corporate Culture goes beyond that of the CEO
Stories of corporate culture gone off the rails have become a regular feature in the headlines. From rampant sexism and bullying, falsifying of critical safety records, to underhand tactics against competitors and outright fraud, breakdowns in standards of governance inevitably lead to demands for strong action to be taken. But while companies, governments and regulators…
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Wan Wei Han
4 years worth of Audited Financial Reports no Longer valid
Midas, a Chinese railway parts maker which has a primary listing on the mainboard of the Singapore Exchange and a secondary listing in Hong Kong, is being investigated in Singapore and China for fraud. Founded in 2000 by Patrick Chew, a Singaporean businessman with a rags-to-riches story, and a Chinese partner, Chen Wei Ping, trading…
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Wan Wei Han
Case Study: PwC UK auditor spent only 2 hours on BHS Audit
In an email seen by Sky News, Kevin Ellis, chairman of PwC UK, reportedly blasted partner Steve Denison over his audit work for BHS, which last week led to a six-figure fine and 15-year ban for Denison and a record £10m fine for the Big Four firm (reduced to £6.5m). In the email circulated to…
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