The prodigal son returns: The hunger for Bitcoin signals an appetite for hard money August 19, 2021 This week marks 50 years since President Richard Nixon announced the US would abandon the Gold Standard. Instead of redeeming the dollar in gold, the government allowed its value to float freely on the market. So began a sharp devaluation of the world’s reserve currency of choice under the US-led Bretton Woods system. Priced in [...]
Indy Hothi CA: “You cannot witness the devastation around you and not feel compelled to do something.” August 19, 2021 This article first appeared in ICAS’ CA magazine. ICAS Deputy President Indy Hothi CA says his work at Khalsa Aid International is just one example of how accountants can use their skills to support their chosen causes. Back in 2014, parts of Bosnia and Serbia suffered their worst floods since records began some 120 years ago. [...]
‘Pingdemic’ suffocates pubs and restaurants as growth slows for first time since March August 19, 2021 Worker shortages triggered by the “pingdemic” are hitting pubs, bars and restaurants’ trading, according to fresh figures released today. According to Lloyds Bank’s UK recovery tracker, output at food and drink businesses dropped in July as a result these firms struggling to scale supply amid staff shortages and high rates of self-isolation. Output at food [...]
John Lewis launches investment products as it looks beyond retail for revenue August 19, 2021 John Lewis has today launched investment products for the first time ever, as the retailer ramps up its plans to find revenue streams in other sectors. Entering the investments market is, the company said in a statement, part of its longer term ambition for 40 per cent of the company’s profits to come from outside [...]
US General: Taliban ‘not interfering with US operations’ at Kabul airport August 18, 2021 There had been no hostile interactions with the Taliban over citizens trying to leave Afghanistan, US General Mark A. Milley told a Pentagon news conference. Around 5,000 people have been evacuated from Afghanistan, according to chairman of the joint chiefs of staff General Milley. “Through the State Department, the Taliban are guaranteeing safe passage to [...]
Afghanistan: Ousted president in ‘consultation’ to return August 18, 2021 Exiled Afghan president Ashraf Ghani said he was in “consultation” to return to the country after fleeing to the United Arab Emirates. Ghani left the country “in order to prevent bloodshed” and to ensure a “huge disaster” was avoided, he said in a Facebook live broadcast, translated by Al Jazeera. “When it comes to the [...]
Klarna considering a listing but not ‘right now’ August 18, 2021 Swedish fintech Klarna Bank, which offers ‘buy now and pay later’ loan plans to shoppers, may consider listing as early as 2022. The firm does not have “immediate plans” for an IPO amid “very volatile” markets, chief executive and co-founder Sebastian Siemiatkowski told Bloomberg in Warsaw. Klarna was valued at $45.6bn in its latest funding [...]
Business Secretary intervenes in Cobham’s £2.6bn bid for Ultra Electronics on national security grounds August 18, 2021 Business Secretary Kwasi Kwarteng has stopped the planned £2.6bn acquisition of defence firm Ultra Electronics by rival US-owned Cobham, to investigate possible national security risks from the merged entities. The Competition and Markets Authority will now prepare a report on the proposed transaction. Customers of Ultra, which sells torpedo and radar systems and a range [...]
10 minute Covid test hoped breakthrough for travel sector August 18, 2021 University of Birmingham researchers have developed a new Covid test that provides results in less than 10 minutes. The RTF-EXPAR test is reportedly as sensitive at detecting coronavirus as PCR tests, according to the scientists behind the breakthrough. The tests also detect low levels of the virus, which lateral flow do not despite also delivering [...]
Crypto adoption jumps 881 per cent in a year August 18, 2021 Crypto ownership has surged during the pandemic with adoption rising by 881 per cent in the year ending on June 30 2021. New data shows that global crypto adoption has risen from an index score of 2.5 to 24 over the year. According to Chainalysis, the publishers of the Global Crypto Adoption Index, crypto ownership [...]
