CMA to probe if ‘failure in competition’ is seeing consumers overcharged for food and fuel May 15, 2023 The Competition and Markets Authority (CMA) today announced it will investigate whether a “failure in competition” is seeing consumers overcharged for groceries and fuel. The watchdog said it would be stepping up its work in the grocery sector to determine whether a “failure in competition is contributing to grocery prices being higher than they would [...]
FTSE 100 close: HSBC and Lloyds lead gains on London index as Turkish lira slides after inconclusive election May 15, 2023 London’s FTSE 100 kicked off a new week in decent style today, led higher by Britain’s largest banks clocking strong gains. The capital’s premier index advanced 0.30 per cent to 7,777.69 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.37 per cent to [...]
Bitcoin and Ethereum face challenges, Liechtenstein embraces BTC, and Tether reports huge profit May 15, 2023 Data shows the price of Bitcoin started the week on a downward trend, moving from around $28,000 to a low of roughly $26,500.
Why the Government needs to commit to a regulatory regime no later than 2024 May 15, 2023 Nick Taylor of Luno looks at the issues he believes need to be addressed by the UK government over crypto regulation.
Jacob Rees-Mogg brands Sunak’s Brexit bonfire row back ‘pathetically under-ambitious’ May 15, 2023 Jacob Rees-Mogg has attacked the Government’s decision to scale back post-Brexit plans to scrap EU laws as “pathetically under-ambitious”. The former cabinet minister used a speech at the National Conservatism conference on Monday to criticise Prime Minister Rishi Sunak for breaking his promise to complete a “bonfire” of remaining EU-era laws by the end of [...]
Vice Media files for US bankruptcy protection ahead of sale May 15, 2023 Media company Vice has filed for bankruptcy protection in the US after bosses struggled to find a buyer for the innovative news firm. The Chapter 11 filing at a court in New York is setting the stage for the company’s creditors to take control over the business. It marks a fall from grace for the [...]
Explainer: Rishi Sunak goes further with military support for Ukraine May 15, 2023 The United Kingdom has been holding a leading role in gathering Western support for Ukraine since Russia’s invasion. Ukrainian president Volodymyr Zelenskyy used to call Boris Johnson “a true friend” and praised him even in his last days as prime minister. Johnson was, indeed, the most vocal supporter of Zelenskyy, and took leadership in ensuring [...]
‘Greedflation’ not to blame for UK price surge, former rate setter claims May 15, 2023 “Greedflation” is not to blame for prices surging in the UK and instead businesses are pushing up prices in response to soaring costs, a former Bank of England rate-setter claimed today. Michael Saunders, an ex-member of the monetary policy committee – the nine strong group that sets interest rates in Britain – and now senior [...]
Royal Mail delivery target failures to be investigated by Ofcom – and a fine could be dished out May 15, 2023 Regulator Ofcom said it has launched an investigation into Royal Mail’s failure to meet its delivery targets in the past year – and could hand out a fine. The British delivery firm fell short of its performance targets across the 2022 to 2023 financial year for first and second class mail and deliveries. Some 73.7 [...]
US debt ceiling crisis galvanises Bitcoin’s safe haven status May 15, 2023 Nigel Green explains how the US is facing a deep crisis over its debt ceiling limit that could unlock more bullish sentiment towards Bitcoin.
