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PRESS DIGEST- Financial Times - Oct 27
October 27, 2017 / 12:12 AM / 2 months ago

PRESS DIGEST- Financial Times - Oct 27

Oct 27 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

NHS cyber attack far more extensive than thought, says report on.ft.com/2yUfnmB

Insurance watchdog urged to rethink solvency rules on.ft.com/2yUGTjZ

Ex-HSBC forex trader loses extradition case over U.S. fraud charges on.ft.com/2yVBtoP

Taxman under fire for failing to probe Uber stance on VAT on.ft.com/2yVhHKn

Overview

The cyber attack that caused disruption at the National Health Service in May was far larger than previously appreciated, according to a report by spending watchdog National Audit Office that lays bare the health service’s poor preparation to cope with such a threat.

UK “may have erred on the side of caution” when putting regulations into practice for the insurance industry, the Treasury select committee said in a report published on Friday on the EU’s Solvency II insurance rules.

Former HSBC Holdings Plc currency trader Stuart Scott can be extradited to face fraud charges in New York, a UK court has ruled, without deliberating on whether he was guilty or not of the 11 wire-fraud charges he faces and which he strongly denies.

British MPs have criticised the UK tax authority for failing to investigate Uber Technologies Inc’s approach to value added tax on its rides, which the ride-hailing firms claims is not its obligation because it only acts as an agent for self-employed drivers, even as a 2016 ruling found that Uber’s drivers in London are workers, rather than self-employed contractors. (Compiled by Bengaluru newsroom; Editing by Sandra Maler)

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