SEC charges 11 in international £254.6m crypto fraud scheme August 2, 2022 The US Securities and Exchange Commission charged 11 people in a $300m (£254.6m) crypto fraud scheme that spanned multiple countries. The individuals were charged for being involved in creating and promoting the fraudulent crypto pyramid and Ponzi scheme which was called Forsage. The scheme netted more than £254.6m from millions of retail investors in the [...]
Six charts that show why high food prices aren’t going away August 2, 2022 Russia’s invasion of Ukraine prompted a sharp jump in the price of some food commodities and the impact looks set to be long-lasting. Price moves for some agricultural commodities have been dramatic since Russia invaded Ukraine at the end of February. The chart below shows how prices have jumped, with wheat gaining most. We believe [...]
Ultra-high energy bills are here to stay, warns Cornwall Insight August 2, 2022 Household energy bills will remain historically elevated into 2024, revealed Cornwall Insight, meaning Brits will be under sustained pressure.
BP follows in rivals’ footsteps with near-record £7bn quarterly profits August 2, 2022 BP has unveiled profits of $9.3bn for the second quarter, powered by soaring oil and gas prices following Russia's invasion of Ukraine.
Claims globalisation has ‘had its heyday’ are premature, Lloyd’s chief executive says August 2, 2022 Claims the dual shocks of Covid and the war in Ukraine have halted the “all conquering forces of globalisation” are “premature,” Lloyd’s of London chief executive John Neal told City A.M. In an op-ed in this newspaper, the insurance chief said that while we will “rightly see a degree of retreat and retrenchment” in [...]
Even as we turn inwards to shore up security, globalisation is still alive August 2, 2022 Ten years ago, it would have been hard to imagine an end to the all-conquering forces of globalisation. Our world has been on a one-way ticket to integration since the mid-20th century – and it has shown little sign of return. Yet with the dual shocks of Covid-19 and the invasion of Ukraine revealing the [...]
Ditching net zero is a colossal act of self-harm for our economy and global vision August 2, 2022 Amidst the politicking that inevitably surrounds any leadership race, a handful of Conservative MPs have demanded a review of our commitment to achieve net zero greenhouse gas emissions by 2050. These calls betray a fundamental misunderstanding of the wider benefits of decarbonisation to UK interests and the global momentum towards net zero. More than 130 [...]
Low-income crypto investors sold off holdings during crash August 1, 2022 Low-income crypto investors sold off their holdings as the crypto crash swept across the industry, while wealthier investors held on to their portfolios. 46 per cent of crypto investors sold their holdings, with lower income individuals the most likely to do so, a survey by US-based intelligence company Civic Science found in a survey of [...]
UK launches register of overseas property owners in clampdown on ‘corrupt elites’ August 1, 2022 Individuals that own UK properties via chains of “secretive” shell companies will from today be forced to reveal their true identities, after the UK government launched a new register of UK property owners today. The first-of-its-kind register will require those seeking to buy or own UK property via offshore entities to list the identities of [...]
Australia weighs up gas curbs as Europe scrambles for supplies August 1, 2022 One of the world's largest suppliers of LNG is considering curbs on exports, which could exacerbate the global energy supply crunch.