Singapore will clamp down on bad behaviour in crypto market June 23, 2022 Singapore’s regulators will crack down on bad behaviour in the crypto industry, the chief fintech officer of the country’s central bank has warned. Sopnendu Mohanty at the Monetary Authority of Singapore (MAS) questioned the need to be friendly to the crypto industry. “We have no tolerance for any market bad behaviour. If somebody has done a bad [...]
Chef and bartender shortages threaten to cost hospitality sector £21bn in lost sales June 23, 2022 A shortage of chefs and bartenders is set to wound the hospitality trade by some £21bn in lost sales. Nearly half of pub and restaurant operators (45 per cent) said they have been forced to slash trading hours or capacity, according to an industry-wide survey. Lost sales will cost an estimated £5bn loss in tax [...]
Lord Frost says Boris Johnson makes ‘factually incorrect statements’ June 23, 2022 Boris Johnson’s former Brexit supremo Lord David Frost has said the Prime Minister has a penchant for “making factually incorrect statements”. The former cabinet minister said at a Westminster event today that “I wish he would not say things like that which are obviously not true”, when referring to the Prime Minister’s recent claim that [...]
Heathrow raises passenger traffic forecasts following surge in demand June 23, 2022 Heathrow has raised its passenger number forecast for the year following an ongoing surge in travel demand. The hub has increased predictions to 54.4 million travellers – 2.6 per cent up on the 53.3 million forecast last moth – but said it was continuing to work with airlines to match supply and demand levels. “While [...]
100 days to cash in or spend it: Bank of England warns £14.5bn worth of paper bank notes will soon be withdrawn June 23, 2022 The Bank of England has warned people there are just 100 days to use or return £14.5bn-worth of paper bank notes before they’re removed as legal tender. On 30 September, £20 and £50 notes made from paper will be withdrawn from circulation completely, and replaced with new polymer versions. The warning was given because a [...]
City watchdog hits Ghana International Bank with £5.8m fine over money laundering failures June 23, 2022 The UK’s financial watchdog has fined Ghana International Bank £5.8m over its poor anti-money laundering and counter-terrorist financing control measures. The Financial Conduct Authority (FCA) fined the London bank over its failure to carry out proper checks for money laundering. The watchdog said that while there is no evidence any money laundering actually took place, [...]
Bitcoin price continues to look flat amid recession concerns June 23, 2022 The price of Bitcoin continues to hang around the $20k mark, having failed to sustain a push above that level earlier in the week.
Un-tea-lievable: Welsh government considers banning children from buying tea and coffee June 23, 2022 The Welsh government is considering stopping the sale of tea and coffee to under-16s as part of a wider ban on energy drinks. A consultation on the proposal to end the sale of energy drinks to children also asks respondents whether the ban “should be widened to consider other drinks typically high in caffeine, such [...]
KPMG opens virtual office in the metaverse for staff in US and Canada June 23, 2022 KPMG has set up an office in the “metaverse” for staff in the US and Canada to facilitate cross-border collaboration. The Big Four firm yesterday opened its first ever “metaverse collaboration hub,” with a view to letting staff work in an “immersive” virtual world. KPMG said its new virtual office will facilitate collaboration between its [...]
Rail strikes spill into tube network, affecting journeys on Overground, Bakerloo and Elizabeth lines June 23, 2022 The chaos and disruption brought by the ongoing rail strike has once again spilled into London’s tube network, affecting journeys on the Overground as well as the Bakerloo and Elizabeth lines. Overground services are running on a reduced schedule as trains between Romford and Upminster, Sydenham and Crystal Palace as well as between Surrey Quays [...]
