‘FCA claimed a big scalp’: NatWest’s £320m money laundering fine sends message to the entire City October 8, 2021 NatWest is this morning staring at the prospect of a fine of up to £320m following the bank’s admission of guilt yesterday in relation to three charges of money laundering. The banking giant admitted it had failed to properly monitor £365m when it was deposited into a customer’s account. The case is widely seen as [...]
Bitcoin is ‘overpriced’ as it is worth no more than $28k, says ByteTree’s investment chief : CityAM October 8, 2021 Bitcoin, the world’s most popular cryptocurrency, is double the price it should be at fair value, according to the Chief Investment Officer of ByteTree. Charlie Morris of ByteTree, a provider of digital asset data, made the statement earlier today at the Token2049 conference in London, where he met with representatives from Coinbase and Galaxy Digital [...]
‘Shocking’ transport gap revealed between north and south of UK – CityAM : CityAM October 8, 2021 UK think-tank Onward has revealed a staggering gap between the north and south of the UK when it comes to the number of jobs that are easily reachable by car and public transport. Mapping those jobs that can be reached within an hour’s drive or a 90-minute commute, researchers found that some parts of England [...]
Uber showcases employees’ business ideas in Oxford Street pop-up – CityAM : CityAM October 8, 2021 Uber is launching a pop-up store on Oxford Street – London’s busiest shopping artery – to test some of the products and services designed by its drivers and couriers. Open throughout October, the store will be operate from Monday to Thursday, giving employees an opportunity to showcase their business ideas to the general public. The [...]
Pandemic recovery: London minister expects the capital to ‘be the last to bounce back’ – CityAM : CityAM October 8, 2021 London’s post-pandemic recovery is expected to take longer than the rest of the country, due to the sheer scale of the capital. Minister for London, Paul Scully has cautioned that while the city – a business and financial hub – would usually be one of the first areas to bounce back following a recession, this [...]
City of London Corporation will not remove statues of slavers : CityAM October 7, 2021 The City of London Corporation has U-turned on its decision to remove controversial statues of a slave owner and slave trader from its Guildhall headquarters. The Square Mile’s local authority said the statues of Sir John Cass and William Beckford would remain in place, but will have “plaques or notices placed alongside them, with contextual [...]
Crypto exchange Gemini calls on UK firms to get serious about regulation : CityAM October 7, 2021 Those in the crypto space need to engage proactively with regulators to help bring them up to speed according to crypto exchange, Gemini. At the Token2049 conference in London leading voices from the digital asset industry debated the best way to engage with regulation. “We’re in this crypto landscape now, it’s 12 odd years old, [...]
Brussels tells France to cool post-Brexit row with UK over fishing licences October 7, 2021 Brussels has told the French government to calm its rhetoric over a fishing row with the UK, after Paris threatened to turn off power to the Channel Islands this week. The EU, and individual European governments, have reportedly told Emmanuel Macron’s government that the threats to shut off power to Jersey and Guernsey or to [...]
Smart solutions to food supply chain disruptions October 7, 2021 | Sponsored The food, gas, and fuel supply challenges that the UK has recently faced are a perfect illustration of the risks associated with imperfect supply chain management. These challenges will continue – and potentially increase – given increased customs checks, the ongoing pan-European labour shortage in key logistics industries, and the trend towards national resilience in [...]
Industrials rally lifts FTSE 100 but inflation jitters linger October 7, 2021 A rally among industrial stocks lifted London’s FTSE 100 this morning, but concerns about stickier than expected inflation tempered gains on the capital’s markets. The FTSE 100 added 0.78 per cent to rise above the 7,000 threshold in the opening session. Market sentiment has been stung by concerns the UK economy is headed for a [...]