Bitcoin sinks below $15k while ethereum nears its all-time high January 9, 2018 After a brief rally that began last night, bitcoin sank back below $15,000 today, but ethereum rose to $1,215, nearing its highest ever level. Bitcoin’s price dropped as much as 10 per cent yesterday, but ethereum regained its spot as the second most valuable cryptocurrency by market cap after Ripple dropped off of a recent [...]
Bitcoin: JP Morgan Chase’s Jamie Dimon says he regrets calling bitcoin a “fraud” January 9, 2018 The boss of JP Morgan Chase has now said he regrets calling bitcoin a “fraud”. Jamie Dimon’s infamous comments about the cryptocurrency in September dented bitcoin’s value, though at the time its was just trading around $4,000. Today, one bitcoin was worth about $15,000. The influential executive had also said he would fire an employee [...]
Brexit job losses may be lower than first feared says City of London Corporation boss January 9, 2018 London financial services job losses after Brexit may be lower than previously thought, according to a top City of London official. Jeremy Browne, the City of London Corporation’s envoy to the EU, said financial services firms’ plans to move jobs out of the UK and into the EU were becoming less drastic than initially thought. [...]
Government admits the UK could rejoin the EU’s customs union after Brexit January 9, 2018 A government minister has admitted the UK could rejoin the EU’s customs union after Brexit. Speaking last night, as part of the debate over the Cross Border Trade Bill, financial secretary to the Treasury Mel Stride told MPs they would be able to vote on entering a customs union after leaving the EU, but insisted [...]
Investment themes to watch in 2018: inflation, ‘value’ and emerging markets January 9, 2018 | City Talk Inflation, interest rates and politics are big themes for investors in 2018 but how will they affect asset prices? Below, fund managers from Schroders give their perspectives on the year ahead in three 60-second videos. Where to consider investing for 2018 Johanna Kyrklund, global head of multi-asset investing at Schroders, is optimistic for 2018 and [...]
Persimmon boss Jeff Fairburn bags more than £100m bonus after year of strong sales January 9, 2018 Persimmon boss Jeff Fairburn is in line to collect a bonus of more than £100m after the housebuilder posted a nine per cent growth in annual sales. “Modestly” ahead of consensus expectations, Persimmon profits were boosted by average selling prices rising three per cent. Annual revenues were £3.42bn as Persimmon increased legal completions by 872 [...]
Range Rover SUV hybrid electric review: This PHEV could get you through your commute petrol free January 9, 2018 A decade ago, you couldn’t park up an SUV in London without risking it being covered by faux parking tickets castigating you as a gas-guzzling planet-destroyer. So intense was the kickback from green groups, Land Rover even invested in an official carbon off-setting scheme. All new cars carried big stickers on their windscreen proclaiming their [...]
Fintech startup Transferwise launches consumer “borderless” account and debit card January 9, 2018 Transferwise is moving another step closer to banking territory with the expansion of its “borderless” account to consumers. The accounts can hold cash in more than 20 different currencies and will initially role out to 1,000 users following its launch last year for businesses. Read more: Here’s what fintech startups think of delays to Open [...]
Samsung posts record profits but investor hopes go up in flames January 9, 2018 Samsung revealed overnight it is in line to make record annual profits. But quarterly profits missed expectations as staff bonuses and a strong currency took some gloss off a buoyant chip market. The South Korean electronics giant said fourth-quarter operating profit would be 15.1 trillion (£10.4bn) won, a jump of 64 per cent, but below [...]
No more dodging hard questions, we need a conversation about AI January 9, 2018 Artificial intelligence (AI) has emerged as one of the hottest areas of technology in recent years. It’s in our phones, cars, and living rooms. It’s part of our banking decisions, love lives, and even our weekly grocery shop. By 2035, Accenture estimates that AI could add £654bn to the national economy. Given its rapid adoption [...]