BoE lays down crypto regulation plans following crash July 12, 2022 The Bank of England laid down its plans for crypto regulation in the UK following the drastic instability from the “crypto winter.” Deputy Governor Jon Cunliffe said the Bank would apply identical regulation to different financial services in the UK, regardless of how they are provided, if the risks presented by them are the same. [...]
BBC’s frozen licence fee pushes annual savings of £285m as broadcaster fights vicious talent wars July 12, 2022 The BBC have aired concerns that the current funding settlement, where the licence fee is frozen for two years despite crippling inflation, could spell danger for the broadcaster’s long-term future. Discussing the Beeb’s annual results this morning, BBC Chairman Richard Sharp said the “working assumption is that this [a frozen fee] will open up a [...]
Bitcoin dips below $20k as markets remain uncertain ahead of latest inflation figures July 12, 2022 The price of Bitcoin is down 3.75 per cent over the past 24 hours this morning, changing hands for around $19,800.
Big banks axe dealmaker jobs as revenues tumble July 12, 2022 Major investment banks have started cutting dealmaker jobs after last year’s hiring binge as revenues fall. 12 big banks have slashed their investment banker roles in the second quarter of 2022, according to research from data provider Coalition Greenwich, as reported by Financial News London. These include Bank of America, Barclays, BNP Paribas, Citigroup, Credit [...]
Labour to table vote of no confidence as Tory leadership election deadline nears end July 12, 2022 Labour is going to table a vote of no confidence in the government today, as the Conservative leadership election heats up. Keir Starmer will put forward a motion in Parliament to try and force prime minister Boris Johnson out of office before the contest ends. The prime minister, who resigned last week following a series [...]
Sanctions bite: London-listed Russian mining firm Petropavlovsk to suspend trading and file for administration July 12, 2022 London-listed Russian gold mining firm Petropavlovsk will cease trading and file for administration after revealing it was unable to repay a $201m (£169.3m) loan to a sanctioned bank. Sanctions against Kremlin-linked firms continued to bite this week, with the Petropavlovsk in debt to Gazprombank, that has been targeted over the war in Ukraine. The bank [...]
Tech company AdEPT announces higher revenue and cash generation in strong year July 12, 2022 AdEPT Technology Group reported an 18 per cent increase in revenue to £68.1m and strong cash generation after tax of £8.1m for the year ended 31 March 2022. In a solid year for the IT and communications company, gross profit increased 17 per cent, £32.4m up from £27.6m the year before. Revenue was also lower at £57.9m [...]
BBC investigation finds SAS killed Afghan detainees and unarmed men in suspicious circumstances July 12, 2022 A BBC Panorama investigation has uncovered evidence that the British SAS executed detainees and murdered unarmed people on operations in Afghanistan. It reveals disturbing new evidence of scores of secret killings by the SAS, and efforts by some of the most senior figures in UK Special Forces to conceal evidence of war crimes. Panorama [...]
Record industry could save £200m as court order extends pirate website block to mobile networks July 12, 2022 The music industry celebrates this morning after a High Court Order forces mobile providers to start blocking pirate music websites, potentially saving the record industry £200m a year. Website blocking acts as a powerful legal remedy for those who own and invest in copyright and brands from music, film, sports and gaming industries, whose rights [...]
Terra Luna crash shows need for ‘non-negotiables’ in crypto regulation, says FCA official July 11, 2022 The Terra Luna crash this year caused investors to lose significant amounts of money and shows why “non-negotiables” in crypto regulation are needed, the FCA said. “When we look at the Terra Luna collapse, (the harm caused by it) is some people’s life savings,” said Richard Fox, Director of International at the FCA, at a [...]