TalkTalk, RBS, Audi: Business news in brief on Thursday May 12

Former Deutsche Bank boss given four-and-a-half years for insider trading; TalkTalk profits halve on cyber-attack costs; No charges over RBS near collapse

Dodgson (pictures) and Hind could have been given a maximum sentence of seven years each (Getty Images)

TalkTalk profits halve on cyber-attack costs

TalkTalk profits more than halved after an attack on its systems last October resulted in 160,000 customers' credit card and bank card details being exposed. Annual profits fell to £14 million compared to £32 million a year earlier. However, TalkTalk said it had “bounced back strongly” from the attack, with 148,000 new subscribers joining in the last quarter, while the rate at which customers were leaving was also at its lowest ever.

No charges over RBS near collapse

Fred Goodwin, former chief executive, and other RBS bosses in charge when the bank nearly collapsed in 2008 will not face criminal charges related to the sale of shares in the bank just before its taxpayer bailout eight years ago. A report published by the Financial Services Authority in December 2001 found that “multiple poor decisions” caused the crisis. Scotland’s prosecution service said on Thursday there was insufficient evidence to charge the bank or its directors.

Former Deutsche Bank boss given four-and-a-half years for insider trading

Martyn Dodgson, former Deutsche Bank managing director, has been sentenced to four and a half years in prison, while Andrew Hind, former finance director of Topshop, has been given three and a half years, for their roles in a landmark insider trading case. Dodgson and Hind were convicted on Monday of conspiring to insider deals between November 2006 and March 2010, after being brought to trial by the Financial Conduct Authority (FCA).

Audi facing ‘extremely challenging’ conditions

Rupert Stadler, Audi chief executive, has said conditions for business this year are “extremely challenging” but reaffirmed his to goal to push sales to a new record. Volkswagen’s luxury brand is facing volatile currency conditions, competition in China and a possible Brexit, Stadler said at the annual shareholders meeting on Thursday. But Audi is counting on more than 20 all-new or redesigned models this year to beat its 2015’s record 1.8 million sales.