IT consultant ordered to pay £50,000 after being accused of stealing Soho House members’ personal details
Wall Street opens flat as investors await Fed minutes August 18, 2021 Wall Street’s main benchmarks opened broadly flat today as investors held back from making any sudden moves until after the publication of minutes from the Fed’s latest Federal Open Market Committee meeting. The blue-chip S&P 500 edged 0.07 per cent higher to 4,450.73 points, while the Dow Jones inched down 0.07 per cent to 35,321.59 [...]
FCA warns equity crowdfunding CEOs of consumers making ‘high-risk’ investments August 18, 2021 The Financial Conduct Authority (FCA) has written to the CEOs of equity crowdfunding platforms, to warn them that consumers are still making “inappropriate high-risk” investments despite the current marketing restrictions, as first reported in P2P Finance News. The FCA said crowdfunding firms should “promote investment opportunities appropriately so that consumers can understand the risks these [...]
Weaker than expected retail sales drags Wall Street down August 17, 2021 US stocks edged down during the open today after official figures showed US retail sales were much weaker than expected in July. The blue-chip S&P 500 dropped 0.55 per cent to 4,455.46 points and the Dow Jones lost 0.83 per cent to fall to 35,328.87 points. The tech-heavy Nasdaq extended the traditional benchmark’s losses to [...]
Chinese tech shares drop after Beijing tightens rules on internet competition August 17, 2021 China has marked its latest crackdown on the technology sector as the authorities announced new rules today to tackle unfair internet competition and companies’ handling critical data. The State Administration for Market Regulation (SAMR) published a set of draft regulations banning unfair competition and restricting the use of user data. Shares of Chinese tech companies [...]
Hong Kong IPOs run dry amid concerns over China’s regulatory scrutiny August 16, 2021 The global financial hub has seen only one initial public offering so far this month, as Hong Kong’s investors are spooked by China’s tightening scrutiny across sectors. International investors have long used Hong Kong as gateway to China, but they are increasingly concerned by Beijing’s policies, ranging from technology and education to food and health [...]
UK competition watchdog to investigate Central England Co-op funeral deal August 16, 2021 The Competition and Markets Authority (CMA) will investigate the deal by the Central England Co-op to snap up part of its rival in the funeral care business, the Midcounties Co-op. The UK competition regulator said today it is considering whether the merger deal “may be expected to result in a substantial lessening of competition” within [...]
FTSE: Ultra and Future soar but it’s not enough to lift London’s main index August 16, 2021 The FTSE 100 started off the week with a fall, as a rout on energy and mining shares could not be undone by a surge in the shares of Ultra Electronics and publishing house Future. The blue-chip FTSE 100 dropped 0.8 per cent, dragged down by miners Glencore, Anglo American and Rio Tinto and oil majors BP and Royal Dutch [...]
IPCC report: why the detail matters to energy investors August 16, 2021 | City Talk The United Nation’s Intergovernmental Panel on Climate Change (IPCC) report will shock many people. The data speaks for itself and illustrates the most important challenge facing humanity over the next 100 years. We expect the IPCC report to shock government leaders and lead to actionable policies being implemented at the COP26 climate summit in November. These [...]
Chasing Tesla: how traditional carmakers are revving up their electric vehicle production August 16, 2021 | City Talk Equities generally had a strong year in 2020, but few parts of the market could match the runaway share price gains of the pure electric vehicle (EV) makers. Tapping into investor (and day trader) demand for two popular themes – tech and sustainability – such companies became extremely highly sought after. US group Tesla is [...]
Wall Street smashes records yet again August 13, 2021 Wall Street opened higher today to breach record highs once again driven by a string of strong earnings reports. The S&P 500 came out of the blocks quickly to hit an all-time high, but fell back slightly to rise 0.06 per cent to 4,463.75 points in the early afternoon session. Similarly, the Dow Jones sped [...]