Why the pandemic and the coming economic downturn will accelerate Bitcoin’s adoption November 18, 2020 In October this year, Mode floated on the London Stock Exchange’s Main Market. Two weeks later, we decided to allocate a portion of the money we raised to purchase Bitcoin as part of our treasury strategy. In doing so, we became the first plc in the UK to officially announce the diversification of our reserves [...]
ICE Benchmark to consult on scrapping most Libor denominations November 18, 2020 By Huw Jones LONDON (Reuters) – Libor compiler ICE Benchmark Administration said on Wednesday it will consult on its plan to stop publishing the interest rate denominated in sterling, euro, Swiss franc and Japanese yen. Britain’s Financial Conduct Authority and other regulators have said they want banks, companies and other market participants to end the [...]
From ‘haves’ to ‘have-nots’: how COVID-19 is swelling UK’s subprime ranks November 18, 2020 By Sinead Cruise and Iain Withers LONDON (Reuters) – One morning, after years of financial prudence and solid creditworthiness, you wake up and it’s all gone. You’re no longer worthy. You’re a risk. In fact, you’re sub-prime. That is the fate facing thousands of Britons who, often for no fault of their own, could begin [...]
UK inflation picks up despite lockdowns as clothing prices rise November 18, 2020 Prices picked up across the UK economy in October, the latest figures have shown, with clothing pushing inflation higher after disruption to the sector earlier in the year. Consumer price index inflation came in at 0.7 per cent on an annual basis last month, the Office for National Statistics (ONS) said. That was up from [...]
Chinese stocks climb on prospect of fiscal stimulus November 18, 2020 Chinese stocks edged higher on Wednesday after the Chinese government hinted at additional stimulus to aid the economic recovery. Premier Li Keqiang helped to ease investor nerves that authorities might abandon policies to prop up the economy, which has been devastated by the pandemic. On Tuesday night he told state radio that China will promote [...]
Markets today: Weaker start for Europe as investors focus on inflation November 18, 2020 After the vaccine inspired rally on Monday, a slightly more tempered market followed on Tuesday as the continued rise in virus cases started to experience a bit more cut through in the face of some disappointing US economic data. It is slowly becoming apparent that the economic damage being caused by subdued consumer activity is [...]
BoE governor Andrew Bailey: Vaccine ‘a big step forward’ for UK economy November 17, 2020 Bank of England governor Andrew Bailey has called the development of seemingly effective coronavirus vaccines “a big step forward” for the economy that could help lower uncertainty and get firms investing again. Speaking at lobby group The City UK’s conference, Bailey said both coronavirus and Brexit had “increased uncertainty” and “restrained investment”. He also said [...]
Regulators urge more clearing scrutiny but push back buffer decision November 16, 2020 Global regulators have recommended increased scrutiny on clearing houses but have held back from saying the key financial institutions should themselves take on more of the burden of potential losses. The Financial Stability Board (FSB), which coordinates rules for the G20 group of rich countries, said it would “consider during the course of 2021” whether [...]
Our recovery from Covid-19 is a chance not to build walls, but to cooperate November 15, 2020 As we make our way through the second round of national Covid-19 restrictions, life today is very different to what we expected 12 months ago. The UK last week passed the tragic milestone of 50,000 deaths linked to this terrible virus, while many businesses and households across the country continue to struggle due to the [...]
Belgium v England TONIGHT: Why Jack Harrison, Patrick Bamford, Ezri Konsa and Karl Darlow deserve to be in the England squad November 15, 2020 Gareth Southgate has frequently stated his preference to pick England squads based on the form rather than reputation. So, ahead of matches against the Republic of Ireland, Belgium and Iceland, how should Southgate objectively measure a player’s form? One way is through quantitative analysis of the kind we at Carteret Analytics provide to leading football [...]