Bitcoin will become sixth largest global reserve currency by 2030 November 3, 2015 Bitcoin is going to be the world’s sixth largest global reserve currency, a new study has found, as blockchain becomes increasingly important to mainstream lenders. Interviewing 30 leading bitcoin companies, mergers and acquisitions adviser Magister Advisors found that over the next 15 years bitcoin is set to soar in popularity as a reserve currency, a [...]
Lloyds, HSBC, First Direct warn Apple Pay users: Storing other people’s fingerprints is like “giving out your pin” November 3, 2015 Store your spouse’s fingerprint on your phone? You could be in for a nasty surprise. UK banks are warning customers against the practice, announcing that if you wish to use Apple Pay, you must delete other people’s prints. Lloyds’ customers are warned in the bank’s terms and conditions: If Touch ID is available on your [...]
Fifa crisis: UBS has “received inquiries” over accounts linked to football’s governing body November 3, 2015 UBS is the latest bank to reveal it has been approached by law enforcement authorities investigating Fifa corruption. The paper trail from football's under-fire governing body has led Swiss investigators to a number of "suspicious" transactions at various banks while US authorities have questioned HSBC, Standard Chartered, Deutsche Bank and Credit Suisse amongst others. British banks Standard Chartered, [...]
FTSE 100 index: Banks get some welcome relief from Visa cash – London Report November 3, 2015 The first trading day of November saw the FTSE 100 close flat as the news that Visa Europe is to be bought by US company Visa helped rally banking stocks. The FTSE 100 ended yesterday’s session flat, up just 0.01 per cent at 6,362 points. However, HSBC, which reported a jump in pre-tax profit to [...]
HSBC’s ringfence relief but HQ could still move November 2, 2015 Concerns that HSBC could lose control of its UK retail arm under ring-fencing rules have been “satisfactorily” dealt with according to the bank’s chief executive. New regulations to take effect in 2019 requiring banks to “ring-fence” their high street operations had caused the bank to worry it would have no say over the capital, dividends, [...]
At the close: FTSE 100 closes flat on first trading day in November November 2, 2015 The first trading day of November saw the FTSE 100 close flat as the news that Visa Europe is to be bought by Visa US helped rally banking stocks. The FTSE 100 ended Monday's session 0.01 per cent up at 6,362 points. However, HSBC, which reported a jump in pre-tax profit to $6.1bn (£3.95bn) for the third quarter, [...]
Visa Inc share price down as it agrees to buy former subsidiary Visa Europe for €21.2bn November 2, 2015 Visa Inc announced this morning it has reached a deal to buy its former subsidiary Visa Europe for as much as €21.2bn (£15bn). The consolidation of Visa Europe's 500 million card accounts, worth more than €1.5 trillion, will create a single global payments company. The upfront payment comprises of €11.5bn in cash and €5bn-worth of preferred stock (which pays fixed dividends, taking [...]
Bitcoin price: The digital currency just hit a 2015 high October 30, 2015 Bitcoin’s on a roll. The digital currency has been gaining speed all month, and just zoomed past its July peak to hit a new high for 2015 at $320. This puts bitcoin up 37 per cent over the month. Bitcoin prices plummeted over 2014, from a high of $1,150, and 2015 didn’t start much better. [...]
RBS’s share price falls as it reports decline in third quarter profits missing estimates October 30, 2015 Royal Bank of Scotland has reported third quarter adjusted operating profits down more than half, missing expectations. The lender's shares fell one per cent to 317.40p as the markets opened on the news. The figures The bank said pre-tax profit before one time items and restructuring costs fell to £842m, from £2bn a year ago, after £126m of losses relating to IFRS volatility, and £77m of [...]
FTSE 100 declines after some dismal data from blue-chips – London Report October 30, 2015 A spate of disappointing earnings updates and a decline in copper prices that put pressure on mining shares yesterday caused a slip in Britain’s top equity index. The FTSE 100 was down 42.00 points, or 0.7 per cent, at 6,395.80 points at the close. Barclays fell 6.3 per cent, accounting for 10.3 points of the [...]