Plus500 reports ‘positive momentum’ despite customer growth slowdown July 12, 2021 Online trading platform Plus500 today reported positive momentum in its half year trading update, following a bumper 2020. The global fintech group, operating a trading platform for contracts for difference (CFDs), noted a “very strong period of customer acquisition” up to June this year. This followed an “unprecedented” performance in 2020, driven by the pandemic [...]
Virgin Galactic’s shares rocket as Branson completes first fully crewed space flight July 12, 2021 Virgin Galactic’s shares jumped this morning after it successfully completed its first fully crewed space flight yesterday, with billionaire founder Sir Richard Branson on board. While Branson didn’t make it to the moon, Virgin Galactic’s shares might. The New Mexico-based company’s stock jumped as much as 22 per cent premarket this morning. Virgin Galactic’s shares [...]
Amazon snaps up Tesco exec Tony Hoggett to run stores worldwide July 9, 2021 Amazon today announced it has appointed Tony Hoggett, formerly one of Tesco’s top executives, to run its physical stores. Joining in January 2022, Hoggett will take on the role of senior vice president of physical stores and report to Dave Clark, chief executive of Amazon’s worldwide consumer business. He will be based in Seattle. Clark [...]
Startup funding in Europe on track for record year July 9, 2021 Europe is set to see its biggest year for startup investment, with US investors especially keen to back companies. Startups received three times more funding in the first half of this year compared to that of 2020, according to data from Dealroom reported by Politico. While Europe’s start up scene has lagged behind that of [...]
Branson and Bezos space race outruns insurers July 9, 2021 Billionaires Sir Richard Branson and Jeff Bezos are reportedly launching into space without insurance for injury or death. Brokers told the NYT’s Dealbook newsletter neither Branson or Bezos, or their respective companies Virgin Galactic and Blue Origin, have purchased liability insurance. This is most likely because there isn’t a fully functioning insurance system for casual [...]
Credit Suisse takes measures to reduce counterparty risk following Greensill Archegos scandals July 9, 2021 Credit Suisse has created a new role to manage risk from lending to counterparties sensitive to market moves, such as investment banking clients. The bank appointed Amélie Perrier to the newly created role of Head of Counterparty Market Risk, according to a Reuters report. Memo In an internal memo released today, the bank said: “In [...]
Government to bin English votes for English laws July 8, 2021 The government today announced it plans to scrap English votes for English laws, a system that gives English MPs a veto over laws that only affect England. Speaking at Cabinet Office questions on today, Michael Gove said: “The procedure has been suspended since April 2020 and, having reflected, the government believes it has not served [...]
Pfizer and Moderna vaccines: UK adds rare heart inflammation to side effects July 8, 2021 The UK’s drugs regulator has added extremely rare occurrences of heart inflammation to the official list of side effects for the Pfizer and Moderna vaccines. The Medicines and Healthcare products Regulatory Agency (MHRA) stressed that “the benefits of getting vaccinated outweigh the risks” and these “events are extremely rare and tend to be mild when [...]
Asylum seekers crossing English Channel no longer face prosecution July 8, 2021 The Crown Prosecution Service (CPS) today said migrants who cross the English Channel seeking asylum in the UK will no longer be prosecuted. An agreement was struck between police, prosecutors, the National Crime Agency, Border Force and the Home Office over cases involving “illegal entry”. It will also apply to those arriving by lorry. However, [...]
UN refugee agency raises ‘deep concern’ over UK asylum system overhaul July 8, 2021 The UN’s refugee agency today voiced “deep concern” around new UK asylum changes, labelling the reforms as an “almost neo-colonial approach”. Gillian Triggs, assistant high commissioner for protection at the United Nations High Commissioner for Refugees (UNHCR) told a Chatham House briefing the changes “shift burden” rather than “share responsibilities” on supporting refugees. Sweeping reforms [...]