We’re on the cusp of a blockchain revolution October 4, 2018 Earlier this year, Bank of England governor Mark Carney scrutinised blockchain technology, describing it as an inadequate currency platform set for a “brutal reckoning”. His views come as no surprise for someone deeply ingrained into the traditions of the financial system and the institutions that have set the industry’s tone for centuries. Read more: Up [...]
Saudi oil output reaches record highs, but oil prices remain close to four-year peak October 3, 2018 Saudi Arabia's oil output has reached record highs – and the country could further boost production next month as US sanctions on Iran edge closer. Saudi energy minister Khalid al-Falih said the country had raised output to 10.7m barrels per day in October and announced a further production hike in November. The country's record high [...]
A guide to good money: How to invest ethically and sustainably October 3, 2018 Good Money Week is now upon us. Launched in 2005, this campaign has nudged sustainable, responsible, and ethical financial products into the spotlight. And it’s the investment industry where this trend has really gained traction, with terms like socially responsible investing (SRI) and “impact investing” coming to the fore. Indeed, it wasn’t long ago that [...]
Italy fears subside as government reportedly plans to cut debt October 3, 2018 Fears over Italy’s cost of borrowing eased this morning on reports that the country plans to slash debt by two per cent in 2021. The Italian government has estimated a budget deficit of 2.4 per cent of GDP for 2019, before cutting it to 2.2 per cent for 2020, according to publication Corriere della Sera. [...]
Turkey inflation rate hits 25 per cent as lira takes another hit October 3, 2018 Turkey’s rate of inflation surged to nearly 25 per cent last month as the crisis engulfing the country’s currency hit consumers with huge increases in prices. Consumer prices grew 24.52 per cent compared to September last year, as President Tayyip Erdogan and US President Donald Trump refused to back down over a row about the [...]
Italian borrowing costs rise to four-year high as Rome-Brussels confrontation looms October 2, 2018 The cost of borrowing for the Italian sovereign rose to its highest since 2014 today amid investor fears of a face-off with the EU over the size of the deficit under the populist government’s spending plans. The yield on a 10-year sovereign bond, which moves inversely to prices, surged by more than 20 basis points [...]
Technology drives change: How blockchain made me take on the online payment space October 2, 2018 Micropayments are not a new concept – they’ve been tried before, but due to high transaction costs and poor usability, previous attempts to achieve mainstream adoption have been unsuccessful. For example, under the current banking infrastructure, payment service providers are charging base fees of 10-30p per transaction plus a percentage, making it very difficult to [...]
Crypto A.M. shines its spotlight on Varius World Tech October 2, 2018 The betting and gaming marketplace is growing rapidly with more players joining online or using land-based casinos as a place of enjoyment and entertainment. Despite this growth there is a lack of trust from players who cannot be certain that the house edge (the profit a casino or gambling company makes from games played) is [...]
Offshore oil and gas workers balloted on North Sea strike action October 2, 2018 Offshore oil and gas workers are being balloted over strike action in the North Sea. GMB members working under the Offshore Contractors Association (OCA) agreement have called for a 4 per cent increase in basic pay and allowances. Workers are being balloted on whether they would support industrial strike action and action short of strike [...]
Erdogan accuses US of using pastor with ‘dark links’ to terrorists to justify sanctions October 1, 2018 President Recep Tayyip Erdogan has accused the US of using a pastor with “dark links” to terrorists groups to justify imposing sanctions on Turkey. Evangelical pastor Andrew Brunson, detained in Turkey on terrorism charges, has long been at the centre of the diplomatic spat between the two countries. Read more: Turkish courts will decide the [...]