Category: Uncategorized

India has intensified negotiations with the UK, seeking exemption from the UK’s planned carbon tax as part of efforts to secure a free trade deal before the UK election.
The discussions, occurring amidst India’s impending general election campaign, are crucial for Rishi Sunak’s government, which aims to finalize the agreement despite time constraints.
The Indian negotiating team, in talks held this week in London, has emphasized the urgency of reaching an agreement before the UK election. With time running short, India has leveraged the limited timeframe to advance its priorities in the negotiations. The talks coincide with India’s general election campaign, where the Bharatiya Janata party, led by Narendra Modi, is expected to secure a third consecutive victory.
India’s commerce minister has indicated progress in the negotiations, suggesting that a deal is nearing completion. However, India’s request for exemption from the UK’s carbon border adjustment mechanism (CBAM) has emerged as a significant sticking point. India argues for exemption on the basis of its status as a developing country, raising concerns about the impact of the CBAM on its steel exporters.
The proposed exemption has raised controversy, as the CBAM is intended to curb emissions and support UK steel producers by ensuring a level playing field. Granting India an exemption could undermine the effectiveness of the carbon tax and face criticism for favoring certain trading partners.
The ongoing discussions follow the 14th formal round of negotiations between the UK and India, which remained open at India’s request despite the commencement of its election campaign. Key issues such as visa concessions for Indian workers and a social security agreement have also been on India’s agenda.
India’s reputation as a tough negotiator in trade agreements underscores the challenges faced by the UK in reaching a mutually beneficial deal. Despite the complexity of the negotiations, both sides remain committed to securing an ambitious trade agreement that aligns with their respective interests.
While the negotiations continue, the Department for Business and Trade has reiterated its commitment to achieving a fair and balanced agreement that serves the best interests of both countries. However, there are no plans to amend immigration policies as part of the trade deal negotiations.
As discussions progress, both the UK and India are striving to address outstanding issues and finalize a comprehensive trade deal that fosters economic cooperation and growth.
Read more:
India Seeks Exemption from UK Carbon Tax in Free Trade Deal Talks

Cybersecurity is a “cat-and-mouse” game in which attackers are wise to many of the security measures used by organisations, and are quick to develop strategies to work around them.
As part of this, knowing how to identify a phishing email presents a vital step toward safeguarding your organisation against cyberthreats.
A phishing attack is a type of cybercrime, in which attackers target individuals via email, telephone or text messages, pretending to be a reputable or known person to trick individuals into sharing sensitive information. This presents an increasing problem for businesses of all sizes, across all sectors, and Microsoft themselves state that Outlook blocks nearly 15 billion suspicious emails every day.
It’s important to understand the impact of phishing attacks, different types and tactics for attack, how to identify a phishing email and the measures to consider for safeguarding your organisation against these cyber threats. Penned by a team of experts who offer data protection as a service, this article covers all bases so that you can stay one step ahead of cyber criminals.
The impact of phishing attacks
A large number of phishing attacks are motivated by financial gain, but this isn’t always the case. Obtaining unauthorised access to an organisation’s systems can serve a variety of malicious purposes, such as the acquisition of sensitive information for espionage or disruption of operations with malware for revenge or activism.
A phishing attack can cause a host of problems for organisations, including data breaches, reputational damage, operational disruption and even regulatory penalties.
Reducing risk starts with understanding the various types of phishing attacks your organisation might encounter, and the different tactics used.
Types and tactics
Main types of email phishing attacks you might encounter:

PHISHING TYPE

DETAILS

Spear phishing

Attackers tailor emails to specific people. Unlike traditional phishing, that aims to deceive as many people as possible, spear phishing is focused and personalised

Whaling

Attackers target senior executives who have significant power, access and influence within a company

Clone phishing

Attackers clone a legitimate email and replace an attachment/link with a malicious version

Email bombing

Attackers flood an email inbox with numerous spam emails to distract the victim from important emails

Business email compromise (BEC)

Attackers target businesses working with foreign suppliers and/or businesses that regularly perform wire transfer payments

Man-in-the-middle (MITM)

Attackers secretly intercept and alter a communication thread between two people who believe they are communicating with one another

Common phishing tactics used:

PHISHING TACTIC

DETAILS

Email spoofing

Attackers create email messages with a forged sender address

Link manipulation

Attackers use misspelt URLs or subdomains to trick people into thinking they are visiting a legitimate website

Pop-up windows

Attackers collect personal information or trick people into downloading malicious hardware through a pop-up window

Image phishing

Attackers embed malicious code into image files, which link to phishing websites

Website spoofing

Attackers create a fake domain that looks like a legitimate one

Key signs of a phishing email
Thankfully, there are a number of tell-tale signs that can help you to identify a phishing email.
The sender information, subject lines, content and any attachments included can all betray a cyber criminal’s phishing attempt. It’s important, then, to check the name and address for inaccuracies or alterations, make sure the content of the email matches the subject line, check for misspellings, poor grammar, unusual language or urgent requests, and check for suspicious file extensions such as .exe, .scr, .zip, .docm, .js.
You also need to trust your instincts. If something feels wrong, proceed with caution and always report suspected phishing attempts to your organisation’s IT or security team.
Safeguarding against attacks
Phishing is a form of social engineering designed to exploit trust, curiosity and fear. An email that appears to be from a trusted colleague or a reputable organisation can sometimes trip up even the most careful of employees.
Therefore, awareness training should be the first line of defence for any cyber security strategy. In addition to this, you should consider strong technical defences and well-prepared cyber security policies. Overall, a multi-faceted approach is the best way to safeguard against phishing threats and reduce the risk of a data breach.
Awareness training
Any training offered to staff should cover a wide range of topics, including password security, email filtering and how to report a suspected phishing email. Use real examples of targeted phishing attacks to ensure employees understand what to look for and how to spot the signs of foul play.
Once the training session has been delivered, you shouldn’t consider the job “done”, however. Training should be conducted regularly, providing employees with the latest updates on methods, practical tips and best practices.
Well-prepared cyber security policies
Your cyber security policies should outline the responsibilities of all employees and the steps they need to take when they receive a suspected phishing email. The policies should also cover all aspects of cyber security, including password management, use of company devices, use of personal devices for company work, and how to handle sensitive data.
Again, doing this once is not enough. Regularly review and update policies to reflect any organisational or operational changes and make sure they are up to date with current threats and best practices.
Strong technical defences
It is important to ensure your systems are regularly updated and protected against known threats, using specific anti-phishing and URL defence software.
The technical defences that should be set up by organisations include:
DMARC – an anti-spoofing control that makes it difficult for phishers to send fake emails from your organisation’s email address
SPF – sender policy framework is an email-authentication technique that prevents spammers from sending messages on behalf of your domain
DKIM – DomainKeys Identified Mail is an email authentication method designed to detect forged sender addresses (email spoofing)
Other technical considerations
You should also consider these important steps:

Limit the privileges of users to reduce the impact of any potential breaches

Use multi-factor authentication

Consider implementing phishing filters for links and attachments, Protective Domain Name Service (PDNS), application allow lists, remote browser isolation, Endpoint Detection and Response (EDR)

Keep in mind that a comprehensive cyber security strategy is one that includes multiple preventative measures. You shouldn’t solely rely on technical security, or staff training and policies. The most effective strategy is one that includes all these elements, as well as having a well-planned response protocol to ensure swift action and minimal impact if any incidents occur.
Don’t Panic
 In the event of a phishing attack taking place, it is important that you maintain a level head across your staff – if you have taken the appropriate measures to protect yourselves, there should be no reason to panic. There are a number of useful, free cyber security resources that are worth looking into, detailed below.
The UK’s National Cyber Security Centre offers a free check your cyber security service to help UK organisations check for cyber vulnerabilities.
The European Union Agency for Cybersecurity (ENISA) provides various resources and key services, including certification schemes, events and guidance. Find out more about ENISA’s services
Canada’s Communications Security Establishment (CSE) launched a national cyber security awareness campaign on 1 October 2022. Get Cyber Safe provides public information about cyber security and how to secure accounts, devices and network connections.
Read more:
Protecting Your Business Against Phishing Attacks

A recent survey by NatWest has revealed that SMEs in the UK have enjoyed a strong start to the year, signaling resilience and adaptability in the face of economic challenges.
The survey, based on responses from 850 companies across Britain, highlighted a positive trajectory in new business and output growth, particularly within the service sector. Notably, March marked the fifth consecutive month of new business expansion, with many respondents attributing the increase to the commencement of new projects.
Sophie Milliken, founder of Moja, a marketing agency based in Newcastle, echoed the optimism reflected in the survey results. Milliken cited a string of record months in the previous quarter and expressed confidence in the company’s trajectory. Emphasizing the significance of relationships and service quality in driving business success, Milliken underscored the importance of strategic planning and prudent decision-making, particularly in terms of recruitment.
However, despite the overall positive sentiment, cautious hiring practices were evident among SMEs, according to the NatWest study. While some services companies added to their workforces in March, the growth was described as “soft” and “marginal,” reflecting lingering uncertainties, including the upcoming election. Hannah Rowe, founder of Rowe IT, based in Plymouth, acknowledged being more cautious about hiring, citing uncertainty related to potential shifts in government priorities post-election.
Rowe IT, which primarily serves the public sector, faces challenges associated with governmental uncertainty and changing priorities. The reluctance to invest in long-term projects amid election-related uncertainties has contributed to a cautious approach to recruitment and business planning.
In addition to hiring concerns, the NatWest survey also highlighted SMEs’ attitudes toward sustainability. While sustainability initiatives are gaining traction globally, only 36 percent of the surveyed companies viewed sustainability as a high priority for the next year. This modest increase from the previous year underscores the ongoing challenges faced by SMEs in integrating sustainability into their business strategies.
Rowe emphasized the importance of prioritizing sustainability efforts, noting its relevance to recruitment and retention, particularly among younger generations. Despite the perceived challenges, Rowe stressed the need for SMEs to adopt a proactive approach to sustainability, citing its potential impact on business growth and talent acquisition.
Overall, while SMEs have demonstrated resilience and growth in the early months of 2024, challenges such as hiring caution and sustainability concerns continue to shape their strategic priorities. As economic uncertainties persist, SMEs must navigate evolving market dynamics while balancing growth aspirations with prudent decision-making.
Read more:
SMEs See Strong Start to 2024 Despite Hiring Caution and Sustainability Concern

In a bid to fortify supply chains and rejuvenate domestic manufacturing, UK firms are poised to inject a staggering £338 billion into re-industrialization initiatives over the next three years.
Research conducted by professional services firm Capgemini reveals a substantial uptick in investment, reflecting a strategic shift towards bolstering national resilience and competitiveness.
According to the study, which surveyed 200 supply chain and manufacturing executives at UK firms generating over $1 billion in revenue, the trajectory of re-shoring is gaining momentum. While only a quarter of firms had recently upgraded their manufacturing facilities, a striking 78% of respondents indicated the formulation or active development of re-industrialization strategies.
Key drivers behind this transformative wave include concerns over national security, with over two-thirds of executives deeming the enhancement of domestic manufacturing capability as imperative. Moreover, anticipated benefits extend beyond resilience, with executives foreseeing competitive advantages and sustainability gains from re-industrialization efforts.
Amidst the backdrop of a global manufacturing landscape marked by geopolitical tensions and supply chain vulnerabilities, Western economies, including the UK, are pivoting towards industrial strategies. While the UK has lagged behind in policy initiatives compared to counterparts like the US and the EU, the survey underscores a growing consensus among businesses for more robust government intervention to support re-industrialization endeavors.
Crucially, the study highlights the pivotal role of workforce development in realizing the full potential of re-industrialization. With two-thirds of surveyed executives advocating for a more highly skilled workforce, investment in human capital emerges as a linchpin for sustaining and maximizing the impact of re-industrialization initiatives.
As UK businesses gear up for a transformative period of re-industrialization, the research underscores the strategic imperative of fortifying national capabilities and harnessing competitive advantages in an increasingly complex global landscape.
Read more:
UK Firms Set to Invest £338 Billion in Re-Industrialization Over Next Three Years, Research Reveals

Hipgnosis, the renowned British music royalties investment fund boasting rights to hit songs by artists ranging from Beyoncé to Neil Young, has greenlit a $1.4bn takeover bid by Concord Chorus, a rival specializing in music and theatrical rights.
The deal, offering a 32% premium to Hipgnosis shareholders, holds the potential to quell lingering uncertainty surrounding the company’s structure and leadership after months of turmoil.
The acquisition by Concord Chorus, which houses a diverse portfolio of copyrighted musical works from legends like Phil Collins and M.I.A, signifies a significant step in consolidating the music industry landscape. With Hipgnosis’s extensive catalogue and Concord’s strategic vision, the partnership promises to reshape the dynamics of music rights management.
Robert Naylor, Chair of Hipgnosis, hailed the acquisition as an opportunity for shareholders to realize immediate value, mitigating risks and paving the way for sustained growth. Meanwhile, Concord’s CEO, Bob Valentine, expressed confidence in the fair pricing offered for Hipgnosis’s catalogues and music assets, emphasizing the opportunity for shareholders to capitalize on a premium to the prevailing share price in cash.
However, the proposed delisting of Hipgnosis from the UK stock market raises concerns within the financial and regulatory spheres. Amid fears of London’s waning competitiveness and the loss of UK-listed companies to private ownership, the move could prompt further scrutiny from City stakeholders and Whitehall leaders.
Founded in 2018 by Merck Mercuriadis, a seasoned manager of music icons, Hipgnosis embarked on a journey to acquire valuable catalogues, aiming to capitalize on the evolving landscape of music consumption. Despite initial success, shareholder dissent in October precipitated a series of challenges, including the ousting of leadership and setbacks in portfolio valuation, culminating in the recent takeover agreement with Concord Chorus.
As Hipgnosis shareholders prepare to vote on the proposed acquisition, industry observers anticipate transformative shifts in the music investment landscape, driven by strategic partnerships and evolving market dynamics.
Read more:
Hipgnosis Music Investor Agrees to £1.1bn Takeover by Concord Chorus

AI-driven business finance comparison site, FundOnion, has announced plans to facilitate over £1 billion in funding to help up to 25,000 SMEs grow over the next four years.
The plans come as the small business finance platform continues to work to consolidate what is a historically fragmented market for small business loans.
It is estimated that the UK is suffering from a £22 billion funding gap for SMEs, stifling growth and limiting opportunities for a group of businesses that are vital to the UK economy, but poorly served by traditional funding routes. Combined with an application process that is time consuming and opaque, and a return to higher interest rates, there is a clear need for businesses to have clarity of the funding options available to them.
FundOnion’s platform enables businesses to quickly compare the cost of business loans from over 30 providers and secure funding in a faster and more transparent way. This world-first approach to business finance has led to an unheard-of pace of delivery, with FundOnion’s fastest loan being provided in just 19 minutes.
This funding has already been seismic for thousands of businesses in the UK. One family-owned business recently received a £500,000 growth finance loan through the FundOnion platform and was able to quadruple its revenue in just 12 months.
FundOnion CEO and Co-Founder James Robson, said: “The UK’s small business community has been chronically underfunded for over a decade as institutional lending has dried up, stifling growth, creativity and the economy. We’re flipping the script by providing the small business community with a platform that’s dedicated to fuelling their expansion and resilience. We’re also aware that our £1 billion goal is just the start of our ambitions to create the country’s best-known marketplace for business finance. Let’s be clear: we’re not here to play small.”
“While our core focus currently is business loans, we are adapting our technology and our capital partner infrastructure to offer a whole host of financial products to SMEs across trade finance, invoice finance, asset finance, and a whole universe of Asset Based Lending (ABL). We’re rewriting the playbook on how to provide capital to UK SMEs all while making a positive and meaningful difference to the UK economy.”
Read more:
FundOnion targets £1 billion funding goal in bid to close business finance gap

Nigel Farage has said Parliament needs to oppose an amendment which some say could give the DWP the right to access the bank accounts of anyone in receipt of DWP money.
Speaking on GB News, Nigel Farage said: “We’ve been hearing a lot of stories recently about fraud, particularly on Universal Credit.  And I have to say that the Department of Work and Pensions having powers to check into people’s bank accounts and assets to make sure they’re not being defrauded on the face of it, I think is a good thing.
“However, and this is worrying, there is an amendment coming into government legislation that will allow the DWP to access bank accounts which after all aren’t just financial transactions; they also say where you’ve travelled to and many other things that you’ve done – that will allow them to access it for anybody in receipt of DWP money.
“And that will of course include every pensioner in the country.
“I have to say that I’m not surprised that Big Brother Watch says it’s breathtaking that the Conservative government is so recklessly creating Big Brother style spying powers to intrude on the population’s bank accounts and this worries me. In a sense, once again this is about financial institutions, it’s about their relationship with the government.
“I really think someone in Parliament needs to stand up and shout because government just gets bigger and bigger. Its ability to intrude into our lives and indeed, to interfere in our lives, gets greater and greater, for frankly, not much good at all.”
Read more:
Parliament needs to oppose DWP Bank Account Snooping Charter, say Farage

Garden centres and nurseries across the UK are engaged in a frantic race to stockpile plants before the implementation of Brexit border checks later this month.
Concerns abound regarding the readiness of border posts to handle the influx of deliveries, prompting businesses to take preemptive measures to safeguard their supplies.
The Horticultural Trade Association (HTA), representing garden retailers and growers, reports a surge in orders as members seek to bolster their stocks before the impending checks commence on 30 April. With suppliers on the continent expressing apprehension about potential delays at border control posts (BCPs), many businesses are accelerating deliveries to mitigate risks.
Government plans to introduce physical checks for plant and animal products entering Britain from the EU have raised concerns among industry players. The new border target operating model (Btom) aims to enforce stringent checks at designated BCP facilities, raising uncertainties about operational efficiency and potential disruptions.
According to a survey conducted by the HTA, 41% of its members plan to expedite deliveries in anticipation of the border checks. Sally Cullimore, the HTA’s technical policy manager, highlights widespread concerns about the adequacy of border control infrastructure, particularly in handling loading and unloading procedures. The timing of these checks coincides with the peak trading weeks for horticulture, exacerbating anxieties within the industry.
Businesses are primarily focusing on stockpiling wooded plants, shrubs, and perennials with longer shelf lives to minimize potential losses. Martin Emmett, chair of the NFU’s horticulture and potatoes board, notes the strategic importation of products with longer production schedules to ensure flexibility and mitigate risks associated with border delays.
However, challenges persist as some suppliers on the continent opt to withhold deliveries for several weeks following the implementation of border checks. Richard McKenna of Provender Nurseries highlights disruptions caused by suppliers in Ireland, the Netherlands, and France, exacerbating supply chain uncertainties.
While the government reassures businesses of its preparedness to handle the volume and type of expected checks, industry stakeholders remain vigilant. Collaboration between authorities and the horticultural sector is essential to navigate the complexities of Brexit border checks and mitigate potential disruptions to supply chains.
Read more:
Garden Centres Rush to Stockpile Plants Ahead of Brexit Border Checks

The UK grapples with a record-breaking surge in long-term sickness absences, reaching over 2.8 million individuals, marking an increase of 700,000 over the past three years.
Before the pandemic, approximately 2.1 million individuals were classified as economically inactive due to long-term sickness. The staggering rise in long-term sickness absences underscores the profound impact of health-related challenges on workforce participation, according to data from the Office for National Statistics (ONS).
Analysts at HSBC highlight a concerning trend, noting that the total number of individuals aged 16 to 64 inactive due to long-term sickness has surged by 36% since the end of 2019. This surge in long-term sickness absences poses significant challenges to economic recovery efforts, intensifying inflationary pressures and constraining the pool of available workers.
The rise in long-term sickness absences has broader implications for the economy, contributing to a decline in employment levels and exacerbating inflationary pressures. Charlie McCurdy of the Resolution Foundation underscores the broader economic implications, citing rising redundancies, falling job levels, and stagnant economic growth as signs of a troubled economy.
Experts attribute the rise in long-term sickness absences to various factors, including delays in routine healthcare treatments, increased mental health issues, and tighter access to basic benefits provision. However, a consensus on the primary drivers of this trend remains elusive.
The surge in economically inactive individuals extends beyond long-term sickness absences, with the overall number of economically inactive people of working age reaching 9.4 million. This level, last seen in 2012, underscores the severity of the current economic challenges.
Mel Stride, the work and pensions secretary, said: “We’ve seen long-term, sickness-related inactivity rise since the pandemic. That’s why we introduced our £2.5 billion back-to-work plan to transform lives and grow the economy.
“Our welfare reforms will cut the number of people due to be placed in the highest tier of incapacity benefits by over 370,000. As millions are benefiting from this month’s huge boost to the national minimum wage, it is work, not welfare, that delivers the best financial security for British households.”
Read more:
Long-Term Sickness Absences Hit Record High