Could quantum computing render blockchain obsolete? March 8, 2022 | City Talk ‘What happens when quantum computers become reality?’: one of my favourite moments at a cryptocurrency seminar last year was when someone asked this. After a long pause, the speaker said something akin to: “We will figure that out when we get there.” Let me explain. The premise of blockchain technology and the cryptocurrencies, non-fungible tokens [...]
LetterOne oligarchs resign from board after sanctions hit co-founders March 7, 2022 The investment firm co-founded by sanctioned oligarchs Mikhail Fridman and Petr Aven has today announced its three remaining Russian billionaire co-founders will also resign, as it battens down the hatches for further sanctions.
Spectris abandons Oxford Instrument takeover bid amid Ukraine conflict volatilty March 7, 2022 UK precision equipment manufacturer Spectris announced it had abandoned its takeover bid for microscope-maker Oxford Instruments today, citing the market volatility sparked by Russia’s invasion of Ukraine.
Ukraine crisis highlights Europe’s dependency on Russian gas March 7, 2022 | City Talk Russia is currently facing the ire of the world following its illegal invasion of Ukraine, which is bringing misery to millions. It is also the second largest producer of natural gas in the world. It serves European consumers of energy through a number of pipelines. Proximity and the ease of transport means supplies from the [...]
Gold smashes $2000 barrier as investors rush for steady ground March 7, 2022 Gold prices surged to their highest level since August 2020 today as investors rushed for steady ground amid another day of global market turmoil.
Asset manager Carmignac announces plans to scrap Russian investments March 7, 2022 French asset management firm Carmignac announced today it would scrap its Russian investments and not invest any further in Russian firms, as asset managers scramble en masse to sever their ties to the country following its invasion of Ukraine.
UBS reveals $200m exposure to Russian assets March 7, 2022 Swiss banking group UBS has today revealed it has around $200m exposure to Russian assets and around $10m of outstanding loans to clients hit by western sanctions in response to Russia’ invasion of Ukraine.
Brexit impact minimal as London lost only 7,500 jobs due to UK’s departure, says EU-born City mayor March 7, 2022 The City of London’s mayor, Irishman Vincent Keaveny, rejects any notion that London is losing its position as Europe’s financial capital. In fact, the Square Mile has lost less than 7,500 jobs as a result of the UK’s departure from the EU, Keaveny said, while City firms employ more than 500,000 people. “A certain number [...]
Unilever commits to new health standards after shareholders pile on pressure March 7, 2022 Unilever has today committed to overhauling the way it reports on the health of its products after bosses came under fire from a shareholder activist group for lacklustre performance on nutrition.
Saturday Sitdown: Credit Suisse’s global investment boss on the dawn of a new world order March 5, 2022 The Russian invasion of Ukraine has accentuated geo-political risks, further fueling volatility on financial markets and unsettling investors. These developments mark a clear shift to a new world order, Michael Strobaek, Credit Suisse’s global chief investment officer, told City A.M. in an exclusive interview. “This new world order will make risk management as well as investing [...]