FCA says it cannot supervise crypto exchange Binance effectively August 25, 2021 UK Financial Conduct Authority (FCA) has admitted that it is “not capable” of effectively supervising Binance, the world’s largest crypto exchange by trade volume in a statement published today. In a supervisory note the watchdog today reiterated its concerns over Binance’s products, which allow consumers to take supercharged bets, and added that the crypto exchange [...]
Deadly floods in UK and Western Europe 20 per cent more likely in future August 25, 2021 Climate change has made deadly floods in the UK and Western Europe at least 20 per cent more likely to happen in the near future, according to a new study shared with City A.M. today. Watch the full report.
Down under: Sydney Covid cases hit new daily record August 25, 2021 Sydney’s coronavirus infections soared to a pandemic-high today, as officials urge people to get vaccinated and curb hospitalizations. Watch the full report.
Mecca Bingo owner Rank Group’s shares rise after win in VAT battle with HMRC August 25, 2021 Shares in Mecca Bingo and Grosvenor Casino owner Rank Group jumped today on the news it’s likely to secure an £80m tax rebate from HMRC. The long-running tax spat looks likely to conclude with the gambling firm nabbing a rebate of up to £80m from a VAT claim after HMRC chaose not to appeal against an [...]
Menu items unavailable as Greggs affected by supply chain disruption August 25, 2021 Bakery chain Greggs is the latest operation to be hit by supply issues after it confirmed shortages of popular products. The food outlet has been affected by shortages of chicken-based products, bakery staff told PoliticsHome. Greggs told City.AM a number of products had been affected but these changed day to day so it would not [...]
WeWork attracts workers back to the office with pay as you go desks August 25, 2021 WeWork will allow customers to rent workspaces on a pay as you go basis in a bid to attract employees back to its offices. This week, WeWork launched its OnDemand service at 40 locations across the UK and Ireland, including London, Birmingham, Manchester, Cambridge, Edinburgh and Dublin. Desks can be booked for £45 per day [...]
Covid vaccine protection could fall below 50 per cent for the elderly by winter August 25, 2021 A leading scientist has warned that the protection provided by two doses of the Pfizer and AstraZeneca coronavirus vaccines could fall below 50 per cent for the elderly by the winter months. The test results from 1.2m users of the Zoe Covid app showed that protection from two jabs starts to wane “even within six [...]
Crime watch: loan fraud hits three year high August 25, 2021 Criminal financial activity is on the rise with loan fraud rates at their highest level in more than three years according to new data. According to Experian, which analysed data from the National Hunter Fraud Prevention Service, fraud rates are experiencing an “alarming surge.” Loan fraud, the practice of falsifying information on application forms, has [...]
Gatwick unveils plans for permanent second runway despite Covid hit August 25, 2021 Gatwick Airport has today unveiled its full plans to add a second permanent runway despite the current shortage of passenger numbers due to the coronavirus pandemic. Under the scheme, which was first announced back in 2018, the Crawley airport’s northern runway, which is currently used in emergencies and as a taxiway, will be modified for [...]
Pinduoduo shoot up 22 per cent after donating £1bn to Chinese agriculture sector August 25, 2021 Chinese e-commerce group Pinduoduo said it would donate RMB 10bn (£1.12bn) in future earnings to contribute to the development of agriculture as part of the country’s “common prosperity” vision. Shares for the Nasdaq-listed company were up 22 per cent following the announcement of the programme. Pinduoduo reported its first-ever quarterly profits as a public company [...]