Bitcoin holds above $20k ahead of US inflation meeting June 15, 2022 Bitcoin is currently changing hands for just above the $21k level, down another five per cent over the past 24 hours.
Q&A: Are we heading towards a commodity super-cycle? June 15, 2022 Commodities have achieved strong price gains recently, prompting speculation that we could be in the early stages of a so-called super-cycle; a sustained period of growing demand exceeding supply. Global commodity prices have moved higher in the past few months, partly due to geopolitical issues such as Russia’s invasion of Ukraine. A mismatch of demand [...]
H&M beats expectations with sales boost amid warnings of rivals snapping up market share June 15, 2022 H&M has posted a sales boost larger than anticipated for the three month spring period, echoing figures from rival Zara last year. The Swedish fashion giant revealed net sales were up 17% year-on-year, or 12% measured in local currencies, at 54.5bn Swedish crowns (£4.36bn), According to the Reuters news agency, analysts polled by Refinitiv had [...]
Motorpoint warns car sales likely to dip as households tighten budgets this year June 15, 2022 Online car retailer Motorpoint has warned that inflationary pressures will mean a drop in consumers buying used cars this year while supply chain disruption will continue to bite. The London-listed company said consumers were under “increasing pressure” to cut back on discretionary spending, with inflation at a 40-year high. “This position has worsened since the [...]
Apple knocks Amazon off the top spot to become world’s most valuable brand June 15, 2022 Tech giant Apple has pushed Amazon off the top spot to be the most valuable global brand, ranking higher than Google. Apple is set to become the first trillion-dollar brand, with a brand value of $947.1bn with plans to enter into the Buy Now Pay Later arena. Google shot up the rankings to second place, [...]
Population of High Net Worth Individuals in the UK grew to 609,400 in 2021 as wealth rose globally June 14, 2022 The number of people in the UK with investable assets of $1 million or more, called High Net Worth Individuals (HNWI), rose 6.3 per cent to 609,400 in 2021 as wealth increased globally. The 2022 World Wealth Report by Capgemini on Tuesday revealed that the global HNWI population grew 7.8 per cent in 2021, with [...]
London markets continue to drop but banks jump ahead of BoE rate rise June 14, 2022 London markets continued to slip today after Monday’s bruising session, but losses were tempered by the UK’s largest lenders jumping ahead of another expected rate hike from the Bank of England tomorrow. The capital’s premier FTSE 100 index fell 0.25 per cent to 7,187.82 points, while the domestically-focused, mid-cap FTSE 250 index, which is more [...]
Coinbase to cut staff by 18 per cent as it warns of crypto winter June 14, 2022 Crypto exchange Coinbase will lay off 18 per cent of its workforce as it warned of a recession and a crypto winter. Coinbase CEO Brian Armstrong said the decision was based on the need to manage expenses and increase efficiency as the company looked to “stay healthy during this economic downturn”. “We appear to be [...]
Government buys stake in Sizewell C and paves way for funding June 14, 2022 The government has made progress on its proposed funding scheme for nuclear power, with Sizewell C set for taxpayer backing.
UBS hikes oil price expectations as supplies tighten across global markets June 14, 2022 Low oil inventories, dwindling spare capacity, and supply fears have prompted UBS to rise its pricing forecast for crude oil this year