Bank bigwig warns of potential for “massive” crypto crash October 14, 2021 A BANK of England grandee has called for cryptocurrencies to be regulated as a “matter of urgency,” warning that a “massive” market crash is a realistic scenario. Sir Jon Cunliffe, the Bank’s deputy governor for financial stability, said that crypto volatility poses a rapidly growing threat to the world economy. A crash would have the [...]
Bank of England: Crypto regulation must be pursued as ‘matter of urgency’ October 13, 2021 The Bank of England has called for crypto currencies to be regulated as a “matter of urgency” warning that a market crash is “plausible.” Speaking at the SIBOS conference yesterday, Jon Cunliffe, deputy financial stability officer for the UK’s central bank said that crypto poses a rapidly growing threat to the global economy. A crypto [...]
Cryptoization threatens global economic stability warns IMF October 13, 2021 The IMF has said the adoption of crypto currencies as the main national currency carries “significant risks and is an inadvisable short cut.” In its latest global financial stability report the IMF cautioned that while the risks posed by crypto are “not yet systemic” the situation should be “closely monitored” by governments given the “global [...]
British gas owner delays shareholder meeting as energy crisis rages on October 13, 2021 British Gas owner Centrica has postponed a shareholder meeting scheduled next month due to an “unprecedented commodity price environment.” A company spokesperson said Centrica would not have time to hold the meeting. Chief executive Chris O’Shea said, “in this current unprecedented commodity price environment we remain focused on looking after our residential and business customers, [...]
Marston’s pub sales tumble 22 per cent as lockdown restrictions bite October 13, 2021 British brewing and pub business Marston’s has been hit hard by lockdown restrictions with pub sales falling 22 per cent this year to stand at £402m. Since April 12 the pub has seen trading reach 94 per cent of pre-pandemic levels on average as pub-going made a comeback over the Summer. However, Marston’s estate of [...]
NatWest to spend £100bn on climate and sustainable finance October 13, 2021 Banking giant NatWest has announced plans to provide £100bn of climate and sustainable funding by 2025 to support the transition to net zero. Natwest previously announced a target of spending £20bn on climate and sustainable finance between 2020 and 2022 which the bank already exceeded with the early delivery of £21.5bn in the first half [...]
Just Eat UK surpasses 1bn orders milestone October 13, 2021 Just Eat Takeaway.com’s financials were boosted in the third quarter of 2021 as Brits swapped home-cooked meals for takeout. The takeaway website processed 266m orders in the third quarter of 2021, representing a 25 per cent jump compared with the same period of 2020 which helped the UK branch of the company reach the milestone [...]
Binance launches $1bn fund to encourage mass crypto adoption October 12, 2021 Binance, the world’s largest crypto exchange, has launched a $1bn (£736m) Crypto Mass Adoption Fund to accelerate the use of digital assets and blockchain technology. The billion dollar investment will support the Binance Smart Chain, a blockchain which developers can use to build decentralised applications (dapps) and projects. Half of the fund will be reserved [...]
UK Fintech Mode rolls out Bitcoin cashback reward scheme October 12, 2021 Mode, an open banking platform which lets users make cardless payments through its flagship mobile app, is rolling out Bitcoin rewards. UK customers will be given the opportunity to build up a holding in Bitcoin via Mode’s FCA registered app as part of a loyalty scheme organised in partnership with THG, a digital consumer brands [...]
Legal woes continue for Samsung as boss pleads guilty to sedative use October 12, 2021 Samsung chief Lee Jae-Yong pleased guilty to a charge of unlawful use of a controlled substance in a Seoul court amid ongoing legal troubles. In August, the embattled heir to Samsung was let out of prison on parole following a bribery conviction with the government judging his release to be in the “national interest” because [...]
