CV Labs partnership launches British crypto firm Evai onto Bittrex Global exchange – CityAM : CityAM August 19, 2021 The global partnership between CV Labs and British AI crypto company Evai has led to a debut centralised exchange listing for the EVAI token on Bittrex Global from today. This latest development follows the CV Labs partnership announcement in May this year, which welcomed Evai into the worldwide CV Labs ecosystem as the cutting-edge FinTech [...]
City figures warn London’s financial crown at risk if UK does not roll out digital Sterling August 18, 2021 City figures have warned that London’s status as Europe’s financial capital will be in serious jeopardy if the Treasury and Bank of England are slow to introduce digital Sterling. Rishi Sunak said last month that the Treasury was looking into one day releasing a so-called “Britcoin”, but that no decision had been made. Sunak said [...]
Wall Street opens flat as investors await Fed minutes August 18, 2021 Wall Street’s main benchmarks opened broadly flat today as investors held back from making any sudden moves until after the publication of minutes from the Fed’s latest Federal Open Market Committee meeting. The blue-chip S&P 500 edged 0.07 per cent higher to 4,450.73 points, while the Dow Jones inched down 0.07 per cent to 35,321.59 [...]
City Moves: Who’s switching jobs in the Square Mile this week? August 18, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. London First completes leadership shuffle Business lobby organisation London First has strengthened its leadership team this week as it channels its focus on the capital’s return to growth, emerging from the pandemic. Former director of corporate [...]
UK inflation drops to two per cent in July August 18, 2021 Inflation in the UK dropped in July, driven by sharp falls in prices for clothing and footwear as retailers sought to stimulate demand by slashing prices amid the traditional summer sale season, according to official figures released today. The Office for National Statistics said prices rose two per cent over the last year, down from [...]
Digital banks pull ahead of high street rivals in battle for consumers’ wallets August 17, 2021 Digital banks are pulling ahead of their traditional high street rivals in the battle to deliver strong customer services, according to findings from the competition watchdog. The Competition and Markets Authority found that Monzo, Starling Bank and First Direct are the top banks for customer service in Britain. The CMA conducted a survey of 1,000 [...]
Wage growth soars: What does it mean for the pensions triple lock? August 17, 2021 UK wage growth flew over the last quarter, indicating that the labour market recovered sharply from the worst effects of the Covid crisis as restrictions eased between April and June. However, what will this mean for the state pension triple lock? Under the policy, the state pension rises by whichever is highest out of inflation, [...]
UK unemployment rate shrinks faster than expected to 4.7 per cent August 17, 2021 The UK jobless rate shrank faster than expected over the last quarter as employers hired workers rapidly to cope with soaring demand triggered by the lifting of Covid restrictions, according to official figures published today. Latest data from the Office for National Statistics shows the unemployment rate dipped 0.2 per cent over the last quarter [...]
UK GDP soars in second quarter as Covid unlocking turbo-charges economy : CityAM August 12, 2021 The burst in consumer spending triggered by the gradual lifting of Covid prevention measures in April and May boosted the UK economy in the second quarter, according to fresh official data released today. Figures from the Office for National Statistics reveal the UK economy grew 4.8 per cent in the second quarter of this year, [...]
UK GDP up 4.8 per cent in second quarter : CityAM August 12, 2021 The UK economy grew at a rate of 4.8 per cent in the second quarter, data from the ONS said today, as the bounce back from the coronavirus pandemic continues. As a result, GDP is now 4.4 per cent below where it was in the last quarter of 2019, before Covid-19 struck. Also Read: PwC [...]