Coinbase says it had no financial exposure to bankrupt crypto firms July 20, 2022 Coinbase says it had no exposure to collapsed crypto firms like Celsius, Three Arrows Capital, and Voyager. In a blog post today, the crypto exchange said it had no “financing exposure” to these crypto firms, all of which filed for bankruptcy following the recent “crypto winter” that saw cryptocurrency prices plunge and pummelled the industry. [...]
Stablecoins will be regulated in the UK with wider crypto regulation to be discussed this year July 20, 2022 Stablecoins will be regulated in the UK in a major move towards crypto asset oversight, with plans to consult on wider crypto regulation later in 2022. The UK’s Financial Services and Markets Bill was presented to Parliament today and widens the UK’s approach to crypto regulation, allowing for stablecoins to be considered as a form [...]
Refuellers suspend strike at Heathrow following improved offer July 20, 2022 Members of the union Unite working as refuellers for Aviation Fuel Services (AFS) have suspended their planned strike action at Heathrow following last-minute negotiations. Unite, which had planned a three-day walkout starting tomorrow, said AFS made a “sustainably improved offer.” The proposal will now be voted on by Unite members. “Unite has consistently said that [...]
FTSE 100 loses Wall Street bounce as banks falter July 20, 2022 A boost from a bumper day on Wall Street yesterday was not enough to help London’s FTSE 100 finish higher today. The capital’s premier FTSE 100 index shed 0.44 per cent to close at 7,264.31 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added [...]
Charlotte Ross stands down as acting editor of the Evening Standard with Jack Lefley taking the reins July 20, 2022 Charlotte Ross has stood down from her role as acting editor, just nine months after taking the top spot from Emily Sheffield.
Government unveils funding round to boost UK’s £9bn hydrogen agenda July 20, 2022 Business Secretary Kwasi Kwarteng met with industry leaders to discuss boosting private investment into hydrogen as a viable energy source.
Rail can’t take more than its fair share, says head of new trade body July 20, 2022 The railway sector can’t take more than its fair share from both fare and tax payers, according to Andy Bagnall, chief executive of the new trade body Rail Partners. “Train companies want to give their people a pay rise, but it has to be affordable and in the context of restoring the railway to a [...]
Rishi Sunak or Liz Truss will be the next UK Prime Minister July 20, 2022 Either Rishi Sunak or Liz Truss will be the UK’s next Prime Minister, after coming out top in a series of Conservative MP votes that finished this afternoon. Rishi Sunak picked up the most votes in the final round with 137, followed by Truss on 113 and Penny Mordaunt on 105. The next Conservative leader [...]
Brexit: UK lays foundation to scrap hundreds of EU financial services rules July 20, 2022 Ministers have today tabled landmark post-Brexit legislation in parliament that will lay the foundation to scrap hundreds of retained EU rules on financial services. The long-awaited Financial Services and Markets Bill sets up a mechanism to bin EU financial services regulations one-at-a-time and either replace them with completely new rules or with none at all. [...]
Uniper bailout edges closer as energy crisis deepens July 20, 2022 Uniper is closing on a bailout from the German government, which is weighing up a 15-30 per cent stake in the company.