Bitcoin mining could take up 0.5pc of global energy consumption in 2018 May 20, 2018 A study has found that by the end of this year, bitcoin mining could be using as much as half a per cent of the world’s global energy usage, making it a significant threat to renewable energy efforts and potentially making it an inefficient investment. Bitcoin mining, which has received increased interest from both the [...]
Visa UK’s former chief executive Marc O’Brien joins world’s first crypto bank Crypterium May 20, 2018 Marc O’Brien, the former chief executive of Visa UK and Ireland, will be taking on the role of chief executive for the world’s first mobile cryptocurrency bank. O’Brien, who left Visa in 2014, will be leading crypto start-up Crypterium which is a mobile service that aims to simplify cryptocurrency transactions as many still struggle to [...]
John McDonnell says Venezuela is failing because it is ‘not a socialist country’ May 20, 2018 Venezuela has been engulfed by economic turmoil because it “took a wrong turn” and is no longer “a socialist country” , John McDonnell has said. Speaking on the Sunday Politics show, the shadow chancellor attributed the current woes of the Latin American country to the “wrong turn” it took after the incumbent president Nicolás Maduro [...]
China agrees to ‘significantly’ increase number of US imports May 20, 2018 China has agreed to “significantly” increase the number of goods it buys from the US. A joint statement between the US and China said the two sides had agreed to a “meaningful increase in US agriculture and energy exports,” although it made no mention of the $200bn (£148.5bn) deficit reduction target that has previously been [...]
Marks & Spencer in talks with top Dixons Carphone exec to bolster retail expertise May 19, 2018 Marks & Spencer is reportedly in talks with a top Dixons Carphone exec as the troubled retailer seeks to shake-up its board. Katie Bickerstaffe, who recently stepped down as chief executive of Dixons Carphone UK and Ireland, has held discussions about joining M&S as a non-exec director. M&S is facing the risk of a landmark [...]
Labour shadow chancellor John McDonnell attacks audit firms for ‘lining their pockets’ and blames Carillion’s demise on regulator failings May 19, 2018 Labour has pledged to smash Britain’s accountancy firm “cartel” and today demanded a “complete overhaul” of the way company finances are policed. Shadow chancellor John McDonnell attacked larger audit firms, which “operate with impunity whilst lining their pockets”. Speaking at a Labour conference in London this afternoon, McDonnell launched a review of both the accountancy [...]
James Murdoch’s Tesla board position under threat amid ‘overboarded’ claims May 19, 2018 Media tycoon James Murdoch is facing calls to step down as a Tesla non-executive amid fears he is “overboarded”. Institutional Shareholder Services (ISS), the world’s largest proxy adviser, is recommending shareholders vote against the reappointment of Murdoch – son of billionaire mogul Rupert – and fellow board member Antonio Gracias. In addition, ISS has sided [...]
Lloyds Bank faces potential shareholder pay revolt after world’s largest proxy adviser ‘surprises’ lender May 19, 2018 Antonio Horta-Osorio, the chief executive of Lloyds Bank, is facing a potential shareholder revolt next Thursday over his multi-million pound pay packet for 2017. Institution Shareholder Services (ISS), the world’s biggest investor advisory group, has recommended a vote against Lloyds’ remuneration report at the lender’s annual general meeting on 24 May. Lloyds’ bonus framework was [...]
Uber chief product officer Jeff Holden becomes latest to leave the ride-hailing app May 18, 2018 The chief product officer and front man for Uber’s flying taxi plans Jeff Holden is leaving the company to pursue other opportunities. Holden, who joined the company in 2014 after leaving Groupon, has been at the forefront of Uber’s new project Elevate and his resignation comes at a bad time for the project that now [...]
EU official Henrik Hololei sounds warning on post-Brexit flights as time is ticking to secure a deal May 18, 2018 A European Union official has warned that time is ticking on sorting out the arrangement for post-Brexit flights between Britain and the bloc, Henrik Hololei, the director general for mobility and transport at the European Commission, said the effects on the aviation industry could be significant after 29 March, when Britain is set to leave [...]