Crypto market risk profile similar to oil prices and technology stocks, Coinbase says July 6, 2022 Crypto risk profiles are like those in oil prices and tech stocks, according to crypto exchange Coinbase. “The market expects crypto assets to become more and more intertwined with the rest of the financial system, and thus to be exposed to the same macro-economic forces that move the world economy,” Coinbase Institute Chief Economist Cesare [...]
UK competition watchdog digs into Microsoft’s £58bn mega deal with Activision Blizzard July 6, 2022 Microsoft is under the spotlight of UK’s competition watchdog after snapping up “Call of Duty” maker Activision Blizzard for $68.7bn (£57.8bn) earlier this year in the biggest deal in gaming history. The Competition and Markets Authority (CMA) said it had until 1 September to make a call on whether the deal would reduce competition in [...]
Ben & Jerry’s sues parent firm Unilever over sale of Israeli business to ‘protect social integrity’ July 6, 2022 Ice cream maker Ben & Jerry’s is suing parent firm Unilever in a bid to thwart the sale of its business in Israel to a local licensee, arguing the “social integrity” of the brand is at risk. Unilever announced last week it had sold its interest in Ben & Jerry’s to Isreali licence-holder Avi Zinger, [...]
Saudi diplomat should not be shielded from ‘modern slavery’ lawsuit, UK’s Supreme Court says July 6, 2022 A Saudi diplomat should not be shielded from a ‘modern slavery’ lawsuit – brought against him by one of his former domestic workers – because of diplomatic immunity, the UK’s highest court has said. Saudi Arabian diplomat Khalid Basfar should be forced to face an employment tribunal over claims he kept Filipino national Josephine Wong [...]
Petrol prices drop slightly for first time since April, but motoring associations say it’s not enough July 6, 2022 Petrol prices have slightly dropped for the first time since mid-April, according to reports from motoring association the AA. Figures have shown that the average price of a litre of petrol at UK pumps went down by 0.3p between Sunday and Monday. The price of petrol yesterday was around 191.3p, well below Sunday’s record price [...]
UK firms slash debt levels as interest rates rise July 6, 2022 UK firms are paying off debt for the first time in eight years as rising interest rates dissuade further borrowing and strong cash flows are channelled into repaying existing debt, a new survey has revealed.
The Very Group hires ex-Walmart executive as CEO amid £4bn IPO rumours July 6, 2022 The Very Group has snapped up the former president and CEO of Walmart Japan Lionel Desclée to run the online retail giant as it mulls a £4bn float. Desclée will join the company on 19 September, as current CEO Henry Birch will step down after four and a half years overseeing the firm. Very Group [...]
Shell to build Europe’s largest hydrogen plant July 6, 2022 Shell has announced plans to build Europe's largest renewable hydrogen plant in the Netherlands, which will be operational in just three years time.
Rising mortgage costs already eating into a third of annual income, research finds July 6, 2022 The rising cost of a mortgage is already eating into nearly a third of homeowners’ annual income, according to new research, casting even more concern over looming rates rises. UK households are this year facing a historic cost of living squeeze, which is expected to prompt the Bank of England to hike interest and mortgage [...]
Crypto lender Voyager Digital files for bankruptcy amidst crash July 6, 2022 Voyager Digital has filed for bankruptcy as the crypto crash deepens. A week after halting withdrawals, deposits, and trading on its platform, the crypto lender filed for voluntary Chapter 11 bankruptcy in the US on Tuesday. “This comprehensive reorganization is the best way to protect assets on the platform and maximize value for all stakeholders, [...]
