Most employers believe four-day working week will be the norm before 2030 August 3, 2022 The majority of employers believe that a four-day working week will become the norm in the UK before 2030. According to a survey conducted by Censuswide on behalf of NatWest Rapid Cash, 78 per cent of employers believe it will happen by the end of the decade while 52 per cent of recruiters said it [...]
Battery sustainability firm plots overseas growth after snagging approval for lithium storage box August 3, 2022 Battery sustainability firm Technology Minerals has snagged UN-standard approval for its lithium-ion storage boxes and is now looking to scale its new business overseas. The London-headquartered firm’s new business, known as Recyclus, can “now go live” with the new ADR certification, executive chairman Robin Brundle told City A.M. today, which means it can operate across Europe. While [...]
Tory leadership: Truss has 32-point lead over Sunak in new members poll August 3, 2022 Liz Truss has opened up a 32-point lead over Tory leadership contender Rishi Sunak in a new members poll as the pair get ready to face another hustings event tonight. The Conservative Home poll of Tory members had Truss on 58 per cent and Sunak on 26 per cent in a further sign the foreign [...]
London markets turn around early losses on strong company earnings August 3, 2022 London markets turned around early morning losses today, driven by a bumper crop of results lifting market sentiment. The FTSE 100 and 250 were initially weighed down by a poor session on Wall Street on Tuesday triggered by fears over escalating tensions between the US and China after house speaker Nancy Pelosi’s trip to Taiwan. [...]
Sunak and Truss’s room for tax cuts is ‘limited’, OECD warns August 3, 2022 Tory leadership hopefuls Liz Truss and Rishi Sunak’s room to cut taxes is limited, a top global economic institution said today. The Organisation for Economic Co-operation and Development (OECD) said an ageing society and the need to boost public sector investment to lift growth will keep government spending higher for decades, limiting “the scope for [...]
Robinhood lays off almost a quarter of staff as crypto crash continues August 3, 2022 Trading platform Robinhood cut about 23 per cent of its staff as the crypto crash persisted and economic outlook dampened. The company, which enables crypto trading, had previously laid off 9 per cent of its staff to manage costs. The layoffs follow other crypto companies cutting staff as the “crypto winter” causes prices of major [...]
UK parliament shuts down its TikTok account over China security concerns August 3, 2022 Parliament has decided to shut down its new TikTok account after just one week due to data security concerns raised by MPs. Four MPs and two Lords who have all been sanctioned by China wrote to Commons speaker Sir Lindsay Hoyle and Lord speaker Lord John McFall to complain about “data security risks associated with [...]
Revolut will offer 22 new cryptocurrencies for UK customers August 3, 2022 Revolut announced today it will offer 22 new cryptocurrencies to its UK customers, expanding the trading platform’s crypto offering to over 80 tokens. The new crypto offerings include Metaverse token APE, DeFi tokens REQ, ETC, and other tokens like CLV, FORTH, AVAX. Revolut previously increased the cryptocurrencies available on its app to 60 tokens from [...]
Michael Saylor quits as MicroStrategy CEO after Bitcoin losses August 3, 2022 Crypto advocate Michael Saylor stepped down as CEO of MicroStrategy after the software company took a near $1bn (£0.8bn) loss in Bitcoin. Saylor, a prominent supporter and investor of Bitcoin, will now be Executive Chairman after MicroStrategy faced an impairment charge of over $917m (£757m) on its Bitcoin holding in the second quarter of 2022 [...]
Robinhood Crypto fined £24.7m in New York for regulatory violations August 3, 2022 Robinhood Crypto was hit with a $30m (£24.7m) for violating anti-money laundering, cybersecurity, and consumer protection requirements. New York’s financial regulator the Department of Financial Services fined the trading platform’s crypto business on Tuesday for “significant failures” in money laundering obligations and cyber security and violating “critical consumer and reporting requirements.” Additionally, Robinhood Crypto must [...]
