ASOS cyberattack: What happened and why it matters
ASOS has been hit by a damaging cyberattack, reviving concerns about the threat facing UK retailers after incidents at Co-op and Marks & Spencer. This episode examines what happened, how ASOS could be affected and what might come next. We also explain why five-year fixed mortgage rates have reached 6% and what worried borrowers can do. Plus, we explore takeover talk involving Sainsbury’s and Morrisons, BT’s acquisition of TalkTalk, Jaguar’s electric vehicle rethink, record highs for the S&P 500, moves in oil and bond markets, SpaceX’s AI chip plans and the buzz around Meta’s Muse AI model.
We also talk to fund manager David Harrison from Rathbones about whether investors who rank sustainability highly can ever back AI companies given the water and energy usage involved.
Timestamps
[01:51] Oil prices, bond yields, a record high for the S&P 500 and SpaceX’s AI chip plans
[03:57] Meta’s Muse AI model, the buzz around it and the risks for the wider business
[09:01] Paramount and Warner Bros, BT’s takeover of TalkTalk and competition concerns
[14:55] Why a possible Sainsbury’s and Morrisons deal has revived talk of UK supermarket mergers
[18:11] The ASOS cyberattack and comparisons with Co-op and Marks & Spencer
[23:00] Five-year fixed mortgage rates hit 6% and what borrowers can do
[25:56] The headline announcements from the Conservative Party conference
[29:51] Eve Maddock-Jones speaks to David Harrison from Rathbones on AI and sustainability
[39:14] Jaguar’s electric vehicle rethink and the challenges facing carmakers’ EV strategies