Cryptocurrencies have ‘no intrinsic value’, warns FCA July 31, 2019 Investors should be cautious over cryptocurrencies such as Bitcoin as they have “no intrinsic value”, the City regulator has warned. In a statement released today, the Financial Conduct Authority (FCA) said consumers must ensure they understand and can bear the risks of volatile digital currencies. Read more: US senators grill top exec over Facebook’s Libra [...]
Janus Henderson struggles to shake client jitters as outflows pass $17bn July 31, 2019 Janus Henderson has posted its seventh consecutive quarter of outflows as the asset management firm’s woes continue. Read more: Janus Henderson outflows spark declining profits The London-headquartered company reported net withdrawals of $9.8bn (£8bn) in the three months to the end of June, taking its outflow for the half-year to more than $17bn – close [...]
Spotify fails to hit the right note as subscriber numbers miss expectations July 31, 2019 Spotify’s subscriber growth hit the lower end of its guidance in the second quarter, sending shares down in pre-market trading. The music streaming platform said it now has 108m premium subscribers, up 30 per cent on the year before. Read more: Music streaming firm Roxi plans London float as it looks to take on Spotify [...]
ITV used Facebook to find Jeremy Kyle Show contestants July 31, 2019 ITV used Facebook to find guests who wanted to take a lie detector test on its axed reality series The Jeremy Kyle Show, according to new evidence published today. In a letter to MPs, ITV boss Dame Carolyn McCall said the show’s producers used the social media platform to attract contestants, admitting that “some did [...]
Credit Suisse back on track as second quarter profit soars July 31, 2019 Credit Suisse today said it is on track to meet its full-year targets after posting its strongest quarterly results in four years. The bank reported pre-tax profit of 1.3bn Swiss francs (£1.1bn) in the second quarter, up 24 per cent on the previous year. Net profit attributed to shareholders soared 45 per cent to 937m [...]
Uber car rental startup Splend moves headquarters to London July 31, 2019 Uber car rental startup Splend has relocated its headquarters to London as it looks to cash in on the booming ride-sharing market. The Australian company, which provides cars, training and data analytics to drivers, has set up shop in Aldgate as it prepares to grow its presence in the capital. Read more: Uber lays off [...]
Saudi Arabian wealth fund set to invest in digital health startup Babylon July 30, 2019 Saudi Arabia’s sovereign wealth fund is said to be in late-stage talks over an investment in British startup Babylon Health. The investment, which would come as part of a funding round worth hundreds of millions of dollars, could be announced later this week, the Financial Times reported, citing people with knowledge of the matter. Read [...]
Ralph Lauren revenue rises after social media marketing boost July 30, 2019 Ralph Lauren today posted a modest rise in revenue in the first quarter, after bumper marketing campaigns helped drive trading among younger shoppers. The luxury retailer reported a three per cent rise in revenue to $1.4bn (£1.2bn) in the three months to the end of June, while net profit rose to $117m from $109m in [...]
Sextortion and bomb threats fuel rise in email scams July 30, 2019 The number of email extortion scams has spiked in recent months as cyber criminals increasingly use fabricated bomb and sex threats to dupe victims into handing over money. In a report published today, cybersecurity firm Symantec said it blocked almost 300m extortion scam emails from the start of the year until the end of May. [...]
Huawei shrugs off US blacklisting with strong first half revenue growth July 30, 2019 Huawei has posted a sharp rise in revenue for the first half, despite the US’s attempts to cripple its global trading. President Donald Trump has added the Chinese firm to a trade blacklist, effectively blocking it from doing business with American companies. Read more: US sanctions blamed for Huawei 5G decision delay But the move [...]