Coinbase sheds £0.9bn in second quarter as revenues plunge amid crypto crash August 10, 2022 Crypto giant Coinbase lost $1.1bn ($0.9bn) in the second quarter of the year as revenue dropped declined during the crypto crash. $446mn (£365m) of this loss was due to an impairment charge on the exchange’s crypto and venture investments as the “crypto winter” led to plummeting cryptocurrency prices and caused widespread losses across the industry. [...]
Liz Truss summons Chinese ambassador over Taiwan ‘aggression’ August 10, 2022 Liz Truss has summoned China’s ambassador to the Foreign Office over Beijing’s military “escalation in the region around Taiwan”. Truss said she summoned the Chinese ambassador to “explain his country’s actions”, after President Xi Jinping ordered military drills that surrounded Taiwan last week. China’s People’s Liberation Army (PLA) launched five live-fire military drills in areas [...]
Apple supplier Foxconn ‘cautious’ about demand as inflations spreads August 10, 2022 Taiwanese Apple supplier Foxconn is “cautious” about upcoming demand, supply chains and operating performance, it’s chairman said today, as inflation spreads and tensions with China rise. Foxconn, also known as Hon Hai Technology Group, is one of the world’s biggest suppliers of semiconductors or computer chips. The Taiwanese tech giant hit a record half-year revenue [...]
Iran side-steps US sanctions with $10m cryptocurrency import August 10, 2022 Iran has officially made its first multi-million dollar import using cryptocurrency as it looks to circumvent US sanctions.
HMRC’s furlough fraud crackdown sees whistleblowers file almost 14,000 reports August 10, 2022 HM Revenues and Customs has received almost 14,000 whistleblower reports after launching an online tip off service to make it easier to report instances of furlough fraud. Thousands of people have blown the whistle on their employers and former-employers by reporting them for furlough fraud using HMRC’s digital reporting tool, analysis from law firm Pinsent [...]
Household energy debts reach all-time high of £1.3bn ahead of winter price cap hikes August 10, 2022 Household energy debt is standing at an all-time high of £1.3bn ahead of expected bill hikes this autumn, according to Uswitch.
Poorly insulated households to pay £1,000 per year more on their energy bills August 10, 2022 Households with poor efficiency ratings will have to cough up nearly £1,000 more on their energy bills this year amid a cost of living crisis.
Linklaters partner payouts fall to lowest levels of Magic Circle firms August 10, 2022 Partners at Linklaters are set to receive payouts of £1.87m after posting slower growth than any other Magic Circle firm. Linklaters’ £1.87m payouts saw the City of London law firm’s partner pay sit at lower levels than in any other Magic Circle firm. Linklaters said its profit-per-equity-partner payouts jumped 5.4 per cent to £1.87m [...]
Identity theft-driven data breaches costing Brits close to £4bn a year August 10, 2022 Data breaches driven by identity theft have been costing the UK near £4bn every year for almost a decade as fraud in the country rises. Over 28m data breaches have occurred every year since 2013 at a cost of £3.7bn per year, with more than 140m files compromised, data by ID verification checks provider Credas [...]
Gritty business: the power of passion and perseverance August 10, 2022 What’s more important to success — talent or effort? Most of us would say talent. But according to psychologist and best-selling author Angela Duckworth, most of us would be completely wrong. That’s one of the main takeaways from her book Grit: The Power of Passion and Perseverance. In an interview at Alpha Summit GLOBAL from [...]
