How the Gamestop rally may have been inspired by crypto asset markets January 29, 2021 The allure of the underdog is well-documented, but what happens when the underdog takes on the house and cleans up the table? That’s exactly what happened in equity markets this week, as a Reddit community-fueled, retail money short-squeeze resulted in GameStop (GME), which previously was the darling of short-sellers, rallying all the way to just [...]
Visit London’s first ever absinthe distillery January 29, 2021 London’s first absinthe distillery has opened in east London in a suitably trippy location. The Devil’s Botany Distillery is the brainchild of two devoted “absintheurs” – owners of The Last Tuesday Society, the Hackney bar famous for its taxidermy collection and absinthe-based cocktails including “The Naughty Nun” and “Magik & Medicine”. “Devil’s Botany London Absinthe [...]
Government pulls Covid advert after ‘1950s sexism’ complaints January 29, 2021 The government has pulled a coronavirus public health ad urging Brits to stay at home following complaints that it portrayed “1950s sexism”. The advert showed four households — three with women doing housework and looking after children and one with a man reclining on a sofa. The poster was lambasted online over its sexist depiction [...]
The City A.M. Punter Podcast EP:37 Doncaster, Cheltenham & Hong Kong January 29, 2021 The rain continues to fall and Cheltenham’s Trials Day is not certain to go ahead on Saturday, but Doncaster are confident that they will be able to race on the same day. Jockey and assistant trainer Chester Williams joins us to talk about his intended weekend runners. City AM racing editor Bill Esdaile previews the [...]
Shell ordered to pay damages for oil spill in Nigeria January 29, 2021 Shell must pay damages to four Nigerian farmers for two oil spills back in 2008, a Dutch court has ruled today. The court found that the Nigerian subsidiary of Shell was liable for two pipeline leaks that occurred in the Niger Delta 13 years ago. The plaintiffs argued that the oil spill meant that their [...]
Bitcoin skyrockets as Elon Musk expresses support January 29, 2021 To finish off what has been a wild week for markets in comes Elon Musk sending the price of bitcoin up more than 15 per cent. The Tesla founder added #bitcoin to his Twitter bio in the early hours of Friday before cryptically tweeting: “In retrospect, it was inevitable.” Prices in the cryptocurrency leapt from just [...]
London Stock Exchange completes $27bn Refinitiv takeover January 29, 2021 The London Stock Exchange today said it had completed its $27bn (£19.7bn) takeover of Refintiv, kicking off its new era as a major player in financial data. The blockbuster deal, which was given the green light by EU regulators earlier this month, gives the bourse a significant footing in the information market and creates a [...]
WallStreetBets drama reaches crescendo – Bitcoin fixes this. Elon seems to agree! January 29, 2021 Crypto at a Glance It’s been a wild week in the markets, but just when you think it can’t get any wilder, in swaggers Elon Musk and a $6k pump in little over an hour. The US isn’t even awake yet – are we just getting started today? How did we get here? The big [...]
UK extends airport slot waiver through summer season January 29, 2021 The UK has extended its waiver on the “80:20” airport slot rule through the lucrative summer season, it was announced today. The decision, which was announced this morning by industry body Airport Coordination Limited (ACL), will be a much-needed boon for the UK’s embattled carriers. In a statement, it said: “The UK’s Secretary of State [...]
Takeover talk mounts as Chinese tycoon ups stake in Cineworld January 29, 2021 A secretive Chinese tycoon has increased his stake in Cineworld, fuelling speculation of a possible takeover offer for the UK’s largest cinema chain. Liu Zaiwang’s Jangho Group has built its holding in Cineworld to 13.3 per cent, according to stock market filings published yesterday. The Chinese magnate, whose net worth is valued at $760m (£556m) [...]
