El Salvador Court to investigate Bitcoin roll out September 17, 2021 El Salvador’s Court of Accounts will investigate government Bitcoin purchases and crypto ATMs after receiving a complaint from a human rights watchdog. Earlier this month El Salvador became the first country in the world to make Bitcoin legal tender, requiring businesses to accept crypto payments alongside the dollar. The policy, spearheaded by El Salvador’s popular, [...]
JP Morgan’s digital retail bank Chase to launch in UK next week September 17, 2021 JP Morgan will next week launch its new digital-only lender ‘Chase’ in the UK, as it aims to become one of the biggest banks in the country. In its first international expansion through a retail operation in the bank’s 222-year history, JP Morgan will initially offer only current accounts through the new lender Chase, before [...]
FCA: UK listing regime has been ‘slow’ and ‘missed the boat’ September 17, 2021 The City watchdog has labelled the UK’s listing regime as being historically “slow” and missing the boat on attracting fast-growing tech companies. Speaking at an event examining the new listing proposals put forward by the Financial Conduct Authority, Clare Cole, the regulator’s director of market overnight, said London’s listing rules have “often [been] slow and [...]
China: what zero tolerance, supply chain disruption and floods mean for economic growth September 17, 2021 Ongoing disruptions mean that we have lowered our forecast for growth in China this year. Activity lost due to outbreaks of Covid and supply chain bottlenecks will be largely recouped, but the lagged effects of past policy tightening are only just starting to take effect. As a result we continue to expect growth to slow [...]
Largest-ever wealth drop: Chinese e-commerce mogul loses $27bn September 17, 2021 The founder of a Chinese e-commerce platform has reportedly seen his wealth nosedive $27bn this year – the largest wealth drop in the world on record. Colin Huang, who made his wealth through his platform Pinduouo (PDD), has suffered as a result of China’s hawkish regulations on internet and technology firms. The biggest plunge in [...]
Gas price surge forces industrial sites to close September 17, 2021 Two industrial sites that produce a combined 40 per cent of the UK’s fertiliser have been forced to halt operations due to recent record gas prices. The Times reported that CF Industries had shuttered its plants at Billingham in Teesside and Ince in Cheshire as a direct result of the price spikes. The closures came [...]
Next to run Gap’s UK operation in joint venture September 17, 2021 Next will manage Gap’s online business in the UK and Ireland as a franchise partner, after the companies finalised an agreement. The fashion companies announced they will form a joint venture with Next owning 51 per cent and Gap owning 49 per cent. Next will operate Gap’s e-commerce business across the Next Total Platform, host [...]
Cyber criminals are flocking to Telegram September 17, 2021 Telegram has become a locale of choice for cyber criminals looking to buy or sell stolen user data and share hacking tools. Cyber criminals have been lured to the encrypted messaging app from the dark web by Telegram’s lack of moderation and secure servers. On the platform stolen personal data is shared by hackers with [...]
Retail sales fall as reopening bounceback runs out of steam September 17, 2021 Retail sales volumes dropped 0.9 per cent last month as Brits rushed to dine out at restaurants when lockdown restrictions eased and stores faced supply disruption. A dip in food store sales of 1.2 per cent and a 1.5 per cent jump in automotive fuel sales suggests that people leaned into post-lockdown freedoms by travelling [...]
People falling off escalators over fear of catching Covid-19 sends TfL injuries up September 17, 2021 London Underground bosses have warned that people falling off escalators due to not holding on to the handrail over fears of catching Covid-19 is one of the biggest safety risks facing the network. Since the lifting of lockdown restrictions earlier this year the number of accidents of this type has soared due to the “perception [...]
