Crypto exchange outflows increase as scaling solutions grow July 20, 2021 CryptoCompare data shows the price of Bitcoin (BTC) has dropped below the $30,000 support level in a downward move that broke a support level that had been holding for weeks.
S4 Capital plans £321m expansion as business is powered by post-pandemic rebound July 19, 2021 Sir Martin Sorrell’s advertising agency is booming, driven by the global economy post-pandemic rebound and transformations in digital marketing, S4 Capital said this morning. S4 Capital said it has secured a debt refinancing which will fund future expansion. With a continued rise in expectations, the company plans to continue its expansion in the 12 months [...]
Surging inflation to add £10bn to government’s debt burden July 19, 2021 Surging inflation is likely to add £10bn to the government’s debt burden, putting further pressure on the UK’s public finances. Around a quarter of the government’s stock of debt is linked to the retail price index, meaning the Treasury needs to increase interest payments to savers if prices rise. Read more: UK inflation hits 2.5 [...]
Man City owner raises almost half a billion to fund further expansion – reports July 16, 2021 City Football Group, the owner of Manchester City and a host of other clubs across the world, has raised almost half a billion-worth of debt capital according to reports this morning. The Group has raised $650m (£470m) to finance international ambitions, according to sources who spoke to the Financial Times. The seven-year package has been [...]
UK says Brexit divorce bill is £37.3bn, more than £3bn lower than EU’s figure July 15, 2021 The Treasury today gave an estimate of the UK’s Brexit divorce bill that is £3bn lower than the European Union’s latest figure. Chief Secretary to the Treasury Steve Barclay updated MPs on Thursday to say that the current value of the financial settlement is £37.3bn. This is significantly lower than the updated figure of 47.5bn [...]
Gigafactory firm Britishvolt mulling London listing July 15, 2021 The firm behind the UK’s first battery gigafactory for electric cars has said it is now considering a London listing by the end of next year’s second quarter. In an interview with Bloomberg, Orral Nadjari, the chief executive of Britishvolt, said that the recent overhaul of London listing rules was behind the decision. Britishvolt had [...]
Calls for UK to match European business support from £4.6bn post-Brexit EU fund July 13, 2021 A new report has called on the government to clarify if it will support British firms if they are affected by an uneven playing field that could be created by a €5.3bn fund subsidising its Brexit-impacted industries. If EU countries decide to use much of the new Brexit Adjustment Reserve funds to subsidise private businesses as [...]
Retail, hospitality and transport sectors fear staff abuse when mandatory face masks end July 13, 2021 Business leaders in industries that operate in public indoor settings fear staff could come under attack from customers after the government lifts the legal requirement to wear face masks on 19 July. As of next week, businesses can enforce their own policy on masks as they see fit to protect their staff and customers. But [...]
Banking shares jump after Bank of England gives OK for dividends, bonuses and buybacks July 13, 2021 Banking shares jump after Bank of England gives OK for dividends, bonuses and buybacks
Barclays hires JPMorgan veteran Peter Ward to head global e-trading team July 13, 2021 Peter Ward, a JPMorgan veteran, has been hired by Barclays to become head of digital strategy and global electronic trading from September. He will be based in New York City. Ward will report directly to the bank’s co-president, C.S. Venkatakrishnan, who led the global markets business after a major reshuffle at the top, according to [...]