Sorrell: some firms ‘virtually signalling’ over Facebook | Business News

Sir Martin Sorrell has accused some companies of “virtue signalling” as Facebook faces a growing advertising boycott over concerns that it is not doing enough to tackle hate speech.

The marketing industry boss – who led advertising giant WPP before founding latest venture S4 Capital – told Sky News he was not advising clients to withdraw their business from the platform.

His remarks came after Starbucks became the latest household name to suspend its adverts on Facebook, following the likes of Unilever and Coca-Cola.

Sir Martin Sorrell led ad giant WPP before starting latest venture S4 Capital

The tech giant has come under fire over its perceived lack of action on hate speech – notably by keeping up a post by Donald Trump, in which the president said “when the looting starts, the shooting starts” during US protests over the death of George Floyd.

Sir Martin said Facebook had

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Wirecard scandal: Pre-payment cards could be hit as e-money firm’s assets frozen | Business News

British holders of some pre-payment cards could find they no longer work after a regulator froze the UK assets and activities of a scandal-hit e-money firm.

Customers affected are being advised to contact Wirecard or their card provider directly, while those who receive their benefits through the system are being referred to the Department of Work and Pensions (DWP) for support.

The UK watchdog says it has moved to ‘protect the interests and money” of Wirecard customers

The Financial Conduct Authority moved to impose restrictions against Wirecard after the collapse of its German parent company, which is now the focus of a major fraud investigation.

The UK watchdog said the move was taken to “protect the interests and money of consumers who use Wirecard”.

There is no indication of how many people may be affected.

Wirecard’s failure owing creditors almost £3.2bn, is shaping up to be one of Germany’s

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Huawei named on Pentagon list of firms backed by Chinese military | Business News

Telecoms firm Huawei has been named on a list of companies that the Trump administration says are owned or controlled by the Chinese military.

The list could lay the groundwork for tougher financial sanctions and comes at a time when simmering tensions between the two countries are again coming to the surface.

Washington put Huawei on a trade blacklist last year over national security concerns and has led a campaign to convince global allies to exclude the company from their 5G networks.

Britain earlier this year decided to allow the Chinese firm’s equipment to have a limited role in in its network – but more recently has said it would reassess that decision following a ramping up of sanctions against Huawei by the US.

Conservative backbenchers have also been urging the government to take a harder line.

China’s foreign minister: Huawei ‘won’t do back door deals’ on security

The US

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Furlough fraud: A third of employees asked to work while firms get government handouts | UK News

More than a third of furloughed employees have been asked to carry out work by their bosses, in direct contravention of the rules, according to a new survey.

Employers can only claim cash from the £60 billion scheme if staff cannot work during the pandemic.

But the study by Crossland Employment Solicitors suggests that 34% of employees have been asked to return to work, either doing their usual job or taking on more administrative tasks.

One in five have been asked to either cover someone else’s job or to work for a company linked to their employer while on furlough.

Analysis: Who’s used the UK furlough scheme?

The furlough scheme is one of the biggest single up-front costs to the Treasury and breaking the rules is fraud.

The government had recently announced plans to give employers 30 days to confess any furlough fraud, following concerns the system was being abused.

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