Bitcoin value crashes ahead of third halving May 11, 2020 After rallying to over $10,000 in the past few days, Bitcoin lost more than 10 per cent last night. It dropped to lows of $8,100 on Luxembourg-based Bitstamp exchange before settling at $8,600, ahead of its third halving today. The crypto community is readying for the highly-anticipated bitcoin supply squeeze. It will be the third [...]
Dignity first-quarter profit falls on low cost funeral services May 11, 2020 Dignity reported an 11 per cent fall in first-quarter operating profit as customers chose lower-cost funeral services amid the coronavirus pandemic. As part of lockdown measures, the goverment has provided guidance on how services should be conducted. This includes limiting the number of people present to immediate family members and close friends. Dignity also said [...]
SoftBank’s telecommunications subsidiary forecasts stable operating profit May 11, 2020 SoftBank’s telecommunications subsidiary has forecast operating profit of £6.92bn, largely unchanged from a year earlier. The wireless carrier, SoftBank Corp, is an important source of cash for its parent company SoftBank Group Corp, which is expected to post a record annual operating loss next week. The Japanese conglomerate has warned of further losses on its [...]
British startups call on Treasury to change terms of Future Fund May 11, 2020 Some of Britain’s most successful startups are being locked out of the government’s coronavirus Future Fund and are calling on the Treasury to change the terms. More than 30 founders of Britain’s brightest startups have written to the Treasury asking them to modify the terms of the loan scheme. They want startups without a UK [...]
Any easing of lockdown restrictions will be modest, says Raab May 7, 2020 Foreign secretary Dominic Raab has said that any easing of the UK’s current lockdown restrictions will be modest. In the Downing Street briefing, he said there is “no change in the rules” over the bank holiday weekend before Boris Johnson’s statement on Sunday. He emphasised that the Prime Minister would reveal details of a “roadmap” [...]
Exit strategy: How and when Boris Johnson will end the UK lockdown May 7, 2020 The Prime Minister is set to reveal a “roadmap” to end UK lockdown measures on Sunday, but what does the exit strategy look like, and when will measures be eased? Last week, Boris Johnson said the UK had “passed the peak” and today chairs a Cabinet meeting that will focus on what restrictions can be [...]
Fifth of employees expect they will take a permanent pay cut at the end of the year May 7, 2020 A fifth of employees expect to take a permanent pay cut by the end of the year due to the coronavirus pandemic, according to an exclusive poll for City A.M. The poll, conducted by Redfield and Wilton Strategies, found that 18 per cent of respondents said it is unlikely they will have the same salary [...]
Banks blasted over ‘disappointingly slow’ pace of lending as coronavirus loans hit £5.5bn May 7, 2020 Banks have lent over £5.5bn to SMEs through the CBILS scheme but a leading industry body has said the process is still too slow. The British Chambers of Commerce (BCC) said the improvement in the number of firms accessing CBILS is welcome. However, head of economics Suren Thiru said that with many firms “only having [...]
Brits think furlough scheme should last as long as social distancing May 7, 2020 Britons think the government’s furlough scheme should last as long as social distancing, according to an exclusive poll for City A.M. The poll, conducted by Redfield and Wilton Strategies, found that 57 per cent of Britons want the job retention scheme to continue as long as distancing measures are in place, even if for several [...]
Goldman Sachs in talks to buy Invesco holdings May 6, 2020 Goldman Sachs is reportedly in talks to buy a large portfolio of company stakes being sold by Invesco. A unit of Goldman Sachs Asset Management is closing in on a deal to acquire the positions, according to Sky News reports, which could be closed within weeks. Invesco had applied a 60 per cent reduction to [...]
