City of London grandees lay out vision for UK markets after bruising few months May 15, 2023 A group of City of London grandees are drawing up a “new market model” for the UK’s capital markets after a bruising few months in which the capital has been rocked by negative headlines and a slew of firms heading towards New York.
HSBC aims to grow its Asian business amid pressure from top shareholder Ping An May 15, 2023 HSBC has unveiled plans to bolster revenues in its Asia business amid mounting pressure from its top shareholder to improve performance across the region. The banking giant told investors it is aiming for revenues in Asia’s wealth business to grow by up to 9% in the next three to four years. It also wants to grow [...]
Restart game? EU approves Microsoft’s $69bn Activision bid weeks after UK rejected deal May 15, 2023 Microsoft’s $68.7bn bid for Activision Blizzard has been approved by EU regulators today, just weeks after the UK’s competition agency blocked the deal. The EU decided to approve the deal after remedies were put in place to address competition concerns, with the European Commission saying Microsoft offered 10-year free licensing deals to customers. “These licenses [...]
CMA to probe if ‘failure in competition’ is seeing consumers overcharged for food and fuel May 15, 2023 The Competition and Markets Authority (CMA) today announced it will investigate whether a “failure in competition” is seeing consumers overcharged for groceries and fuel. The watchdog said it would be stepping up its work in the grocery sector to determine whether a “failure in competition is contributing to grocery prices being higher than they would [...]
FTSE 100 close: HSBC and Lloyds lead gains on London index as Turkish lira slides after inconclusive election May 15, 2023 London’s FTSE 100 kicked off a new week in decent style today, led higher by Britain’s largest banks clocking strong gains. The capital’s premier index advanced 0.30 per cent to 7,777.69 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.37 per cent to [...]
Bitcoin and Ethereum face challenges, Liechtenstein embraces BTC, and Tether reports huge profit May 15, 2023 Data shows the price of Bitcoin started the week on a downward trend, moving from around $28,000 to a low of roughly $26,500.
Why the Government needs to commit to a regulatory regime no later than 2024 May 15, 2023 Nick Taylor of Luno looks at the issues he believes need to be addressed by the UK government over crypto regulation.
Jacob Rees-Mogg brands Sunak’s Brexit bonfire row back ‘pathetically under-ambitious’ May 15, 2023 Jacob Rees-Mogg has attacked the Government’s decision to scale back post-Brexit plans to scrap EU laws as “pathetically under-ambitious”. The former cabinet minister used a speech at the National Conservatism conference on Monday to criticise Prime Minister Rishi Sunak for breaking his promise to complete a “bonfire” of remaining EU-era laws by the end of [...]
Vice Media files for US bankruptcy protection ahead of sale May 15, 2023 Media company Vice has filed for bankruptcy protection in the US after bosses struggled to find a buyer for the innovative news firm. The Chapter 11 filing at a court in New York is setting the stage for the company’s creditors to take control over the business. It marks a fall from grace for the [...]
Explainer: Rishi Sunak goes further with military support for Ukraine May 15, 2023 The United Kingdom has been holding a leading role in gathering Western support for Ukraine since Russia’s invasion. Ukrainian president Volodymyr Zelenskyy used to call Boris Johnson “a true friend” and praised him even in his last days as prime minister. Johnson was, indeed, the most vocal supporter of Zelenskyy, and took leadership in ensuring [...]
