Premier League NFTs: Sorare aiming to launch digital fantasy football trading cards collection following similar deal with Spain’s LaLiga September 21, 2021 French technology start-up Sorare is hoping to launch a range of NFTs comprising digital fantasy football trading cards with the Premier League. The company, which has raised £500m from investors including SoftBank, has emerged as a major player in sport’s growing blockchain economy and recently struck a deal with Spain’s LaLiga. “We have had conversations, [...]
OECD: UK muscles out G7 to top economic growth rankings September 21, 2021 The UK economy will grow the fastest among the group of the world’s richest countries, according to the Organisation for Economic Co-operation and Development (OECD). The OECD thinks the UK economy will expand 6.7 per cent in 2021, the highest rate of growth among the G7. The UK’s leading growth rate has been driven by [...]
Markets: FTSE 100 slumps to near three-month low September 20, 2021 The FTSE 100 index dipped 0.86 per cent today, closing at 6,904, as financial stocks and mining companies were hammered. The capital’s premiere index fell to lows of 6,828, down 1.6 per cent compared to the previous close, as concerns about inflation spooked investors. Financial stocks led the declines with Prudential down 8.4 per cent [...]
Unease about economic outlook grows as rising prices fuel stagflation concerns September 20, 2021 The last few weeks has seen equity markets struggle to make gains of any significant size, and all the while concerns have been rising about a number of different factors. The lack of a clear narrative, whether it be positive or negative, has seen markets churn in both directions since July, with any number of [...]
Former BoE chief economist Andy Haldane to lead levelling up agenda September 19, 2021 Former Bank of England chief economist Andy Haldane has been appointed by Boris Johnson to head up a new taskforce charged with leading the government’s levelling up agenda. Haldane will be head of the new Levelling Up Taskforce, which will sit in a revamped housing ministry under Michael Gove that will be titled the Department [...]
Man of the match: Former saboteur Michael Gove expands Whitehall empire dramatically September 19, 2021 One-time saboteur Michael Gove dramatically expanded his Whitehall empire this week, after emerging as one of the big winners in Boris Johnson’s Cabinet reshuffle. Gove, who was given the Ministry of Housing, Communities and Local Government, has seen his department renamed the Department for Levelling Up, Housing and Communities – underlining its central roll in [...]
Inflation will keep breaching BoE target over next half decade September 17, 2021 Inflation will routinely breach the Bank of England’s target over the next half a decade, according to fresh data released today. The Bank’s latest survey on inflation expectations shows Brits think the rate of price rises will hit three per cent in five years’ time, one percentage point above the Old Lady’s target. Over the [...]
Tax-free savings accounts set to lose thousands as inflation keeps climbing September 17, 2021 The rise in inflation means cash ISAs are set to lose thousands in real terms over the next five years. The average interest rate on a cash ISA rate is currently 0.31 per cent, per the Bank of England on 31 July, while the rate of inflation is now 3.2 per cent. At these rates, [...]
A confusing catalogue of crypto curiosities – what a week that was! September 17, 2021 It's been a strange week in the world of crypto, writes Jason Bourne, as we reflect on a catalogue of curiosities.
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 [...]