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failure

There are news reports that some USD58,000 million was "wiped off" the share value of the USA's four biggest banks as soon as trading started today.

This matters to you.

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If you are issuing a notice about technology, the least you can do is make sure your own tech works when recipients click on a link in the notice.

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There is a long line of failures to properly plan before implementation - and of fundamental failure to understand the basics of a business or issue before launching a system.

We need to stand back, to take stock. We need to rethink our entire approach to management especially risk management. It's time to get back to basics.

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The style has long been that of an outdated tabloid that can't decide if it's a scandal rag or a teenage magazine. It wasn't either: Utasan Malaysia was an integral part of the publication of news in Malay and has been for more than half a century. But, as with so many publications, it has simply run out of money and cannot continue.

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AirAsia is a superb airline. Its aircraft are well maintained and clean, its crew are great. Yes, its ability to be anywhere near its scheduled departure and arrival times are the stuff of legend - for their persistent failures. It has an ultra-slick website that whizzes through the pages. but it's the website that is the real reason that one has to think twice about booking a flight. That's because so much of it, outside the core part of finding flights, doesn't work. Cheap fares are one thing - but not when buying them is so frustrating. But a failure today takes the biscuit. UPDATED AT END

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Hong Kong's Securities and Futures Commission has suspended the former responsible officer of China Merchants Securities (HK) Co., Limited for compliance failures.

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The Australian Securities and Investment Commission (ASIC) conducted inspections at Australia's six largest audit firms and found that they performed a little better than the industry average but even so, a fifth of them lacked material information.

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Just as AirAsia announced the "suspension" of its Tokyo Narita (NRT) to Jakarta (CGK) flights, Japan Airlines and Garuda Indonesia have said that they are to increase co-operation to improve connections between the two Asian countries.

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In the wider world of financial services, there's a tendency to forget that there are regulators for other areas of commerce, too. In the UK, in accounting, the last stop for action relating to accounting and audit misconduct is the Financial Reporting Council. It's one of those bodies that replaces gravitas with slogans on its website (which is "flashy" but doesn't work properly) but when it gets its teeth into a case, it acts as a proper regulator. It levies only small fines but it's paying more and more attention to the big boys.

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It hasn't taken long. The General Data Protection Regulation came into force across the EU only on Friday. By Sunday evening, "Dejan Marinkovic" of "The Resort Group Global" had, apparently, decided that the way around it is simple: just put the name of the company in the body of the e-mail and, thereby, establishing that, as business correspondence, the mail fell outside the GDPR. His premise? That, if the addressee (who, incidentally, is personally identifiable from the e-mail address) clicks on a link, there will be benefits. But then it becomes even more strange.

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The Solicitors' Regulatory Authority which regulates solicitors in England and Wales has begun proceedings against a partner of one of the bluest of blue chip firms in London alleging that he failed to undertake adequate due diligence for money laundering risk purposes when taking on two young women as clients. To be clear: this is a prosecution by the Solicitors' Regulatory Authority, not the police. It is a criminal prosecution for failing to comply with the Money Laundering Regulations. This is big stuff.

The risks to financial institutions, lawyers and accountants presented by their venture capital clients has long been recognised. But what of the risks that venture capital providers face as a result of their investments? WMLR identified a range of risks for both angel investors and those with a full VC involvement.

Like so many developers of so-called artificial intelligence, Google is proud of its efforts and, yet, once again AI has proved that it is often a failure waiting to happen. But this example is ever funnier - and more worrying. Someone has manipulated it and the target, amazingly, is people working in e.g. banks. Should banks, etc. now ban Google Alerts?

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The wording says "If you'd like to cancel just part of your order... please contact us and quote your order number." So, like the obedient chap I am, I did.

This is my exchange with Marks and Spencer's Chatbot.

And you think AI will protect your bank?

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