UK government provided £7.4bn for global exports last year and supported 72,000 jobs July 1, 2022 The UK government provided £7.4bn for global exports last year and supported 72,000 jobs in the country. The financial aid from UK Export Finance helped businesses nationwide for exports to 61 countries and added £4.3bn gross value to the economy, The £7.4bn is the highest level for 14 years, with the total support over five [...]
Taxpayers to foot extra £27.3m bill for Royal Family even as cost of living soars July 1, 2022 UK taxpayers will pay an extra £27.3m over the next two years for the Royal Family even as a cost of living crisis grips the country. The additional amount is to help the Royal Family meet expenses after a drop in profits at the Crown Estate, Bloomberg reported on Thursday. The Royals spent £102.4m in [...]
Longer and more frequent ads: Ofcom weighs up advert rules as the UK eyes American model to stay competitive July 1, 2022 Ofcom said it may extend the time and frequency allowed for advertising breaks on UK TV as the watchdog eyes up an American-style model. As part of a review of broadcasting rules, the change could mean Brits have to see more ads, with less time in between them. Current rules set by Ofcom mean that [...]
Britain needs to respond to the ‘kindness of strangers’ July 1, 2022 Britain has always been an attractive place for investors to park their money. The country’s economic dynamism has helped it pull in billions of pounds of investment, mainly toward its world-leading services industry and financial services businesses. Although the City’s banks, insurers and brokers have contributed a great deal to UK growth, the country is [...]
FATF tells countries to quickly implement its Travel Rule to detect suspicious crypto activity June 30, 2022 The Financial Action Task Force told countries to speed up with implementing its Travel Rule for crypto, a key requirement to comply with sanctions obligations and to detect suspicious transactions. The global watchdog found that most jurisdictions have not applied its anti-money laundering and counter-terrorist financing standards to virtual assets and virtual asset service providers. [...]
Bitcoin falls below $20,000 as it moves towards biggest quarterly drop since 2011 June 30, 2022 Bitcoin plunged below $20,000 today as it hurtles towards its biggest quarterly drop in more than a decade. The world’s biggest cryptocurrency plummeted 4.35% to about $19,160 and is down 58% in the second quarter of 2022. It tumbled around 68% in the third quarter of 2011 during its very early stages when its price [...]
Barclays fights cost of living crisis with £1,200 pay rise for 35,000 employees June 30, 2022 Barclays is giving 35,000 of its UK-based staff a £1,200 pay rise to tackle the cost of living. The banking giant will provide this salary increase to customer-facing, branch, and junior support workers from 1 August. “Barclays will continue to monitor the economic situation globally and consider our approach to pay in each country in [...]
Post Office Horizon Scandal: Wronged postmasters offered £19.5m interim compensation June 30, 2022 Post Office Horizon scandal victims have been given an extra £19.5m in compensation, bringing the total payout to around £30m.
Coinbase ramps up European expansion after laying off employees June 30, 2022 Coinbase is seeking licenses in European countries and stepping up its presence in the continent after cutting almost a fifth of its staff. The US-based crypto exchange is looking to set up operations in countries like France, Italy, and Switzerland. It already has active operations in the UK, Ireland, and Germany. The move comes just [...]
EU consumer groups come after Google for account sign-up settings in GDPR row June 30, 2022 A European coalition has come after Google for harvesting user data via account sign-ins and undermining General Data Protection Regulation (GDPR).