Bitcoin rose in July amid crypto crash August 3, 2022 In association with Luno Bitcoin has continued to establish itself above $20k this week, with the price hitting highs of more than $24k over the weekend. It’s since dropped back slightly, broadly staying in a zone between $22-23k as economic and geopolitical concerns continue to negatively impact traditional and crypto markets alike. On the whole, [...]
TfL long-term funding discussions drag on August 3, 2022 Discussions over the long-term funding of Transport for London (TfL) have dragged on, as the latest round of government funding was set to expire today. TfL’s commissioner Andy Byford said the public body was still “in active discussion” with government officials to ensure that the funding proposal made was “fair and deliverable.” “We hope these [...]
Swapping Silicon Valley for Kings Cross: Nick Clegg becomes latest Meta boss to head to London August 3, 2022 London appears to be becoming the new Silicon Valley for Meta, as Facebook’s parent firm’s president of global affairs Nick Clegg makes his way back to the capital. The news comes just a day after the Financial Times leaked the fact that head of Instagram Adam Mosseri would be moving across the pond. It is understood [...]
Auditors should stop ‘complaining’ about fines and improve the quality of their work, FRC chief says August 3, 2022 The head of the UK’s accounting watchdog has said Britain’s major auditors should stop “complaining” about fines and start improving the quality of their work instead. In an interview with the Financial Times, Financial Reporting Council (FRC) chief executive Sir Jon Thompson said “the solution” to auditors’ problems with fines is “entirely” in their own [...]
Hosepipe ban introduced in Kent and Sussex as UK faces drought fears August 3, 2022 Residents in Kent and Sussex have been hit with a hosepipe and sprinklers ban, with South East Water introducing the measure to tackle dry weather. The water company is the second firm to launch such a ban, with the measure taking effect from Friday 12 August. England saw its driest July since 1935 last month, [...]
Axa launches £840m share buyback scheme as higher earnings offset £250m hit from Ukraine August 3, 2022 French insurance giant Axa today said an uptick in earnings, driven by higher incomes from its investment portfolio, offset the €300m (£251m) hit to its business arising from the war in Ukraine. In reflecting its “robust performance,” Europe’s second biggest insurer vowed to buy back €1bn worth of its own shares from shareholders, after [...]
Sheepish consumers deal blow to UK services economy August 3, 2022 Consumers cutting spending in response to a historic inflation surge has weighed on growth in the UK’s services economy, reveals a closely watched survey published today. Brits are being squeezed by soaring living costs eroding their incomes, prompting them to cut unnecessary spending to protect their finances. As a result, growth in the services industry [...]
UK pharma industry still suffering skills shortages despite progress August 3, 2022 The UK’s pharmaceutical industry is still suffering from skills shortages, despite recent progresses, the UK’s industry body warned today. “We’ve made progress in addressing some of the skills gaps that pharmaceutical companies have faced in recent years, with rapid improvements in areas such as biological and chemical science,” director of corporate affairs at the Association [...]
Swipe left: Tinder chief Renate Nyborg calls it quits after less than a year August 3, 2022 Tinder chief executive Renate Nyborg has left her role as the dating app's top dog as the firm goes through a reshuffle.
Endeavour raises half-year dividend to £82m as mining firm reports strong results August 3, 2022 Endeavour Mining has increased its half-year dividend by 43 per cent to $100m (£82m) as it reports strong results for the first half of 2022. The mining company hiked its minimum full-year 2022 dividend by 33 per cent to $200m (£164m), $50m (£41m) more than the initial commitment, as its operating cash flow rose by [...]