Interest rate speculation leaves Bitcoin investors spooked August 23, 2022 The price of Bitcoin continues to hold above $21k this morning, roughly flat over the past 24 hours at around $21,180.
China banks cut key interest rate in bid to revive stalling economy August 22, 2022 China’s banks have slashed a key interest rate in a token gesture to revive the world’s second-largest economy. The country’s central bank said yesterday the one-year loan prime rate offered by banks was cut to 3.65 per cent from 3.7 per cent, while the five-year rate dropped to 4.3 per cent from 4.45 per cent. [...]
Sail untouched Croatia for a late-summer escape August 22, 2022 Our tender skims into an empty and secluded turquoise bay, the only sign of civilisation being a 300-year-old fisherman’s cottage and a rowing boat on the shore. It’s the kind of place you might see at the end of a Jason Bourne movie; Matt Damon safe in an exotic hideaway as the camera pans out [...]
Crypto markets steady after Friday’s drop August 22, 2022 The price of Bitcoin is currently sitting around $21,353 this morning - up one per cent over the past 24 hours.
EXCLUSIVE: Number of firms fined for deliberate corporation tax misinformation hits four-year high August 22, 2022 The number of businesses fined by HMRC for deliberately obscuring their corporation tax affairs has climbed to its highest level in four years, exclusive figures obtained by City A.M. reveal. The tax man last year penalised 62 firms for purposefully sending incorrect information to possibly slash the amount of corporation tax they pay, up 35 [...]
London faces higher inflation than rest of UK, new figures show August 22, 2022 Astronomical renting costs in the capital have led to a higher inflation rate in London than the rest of the UK, according to new figures released by City Hall. The figures show underlying inflation has been 1.5 per cent higher in London than the rest of the country over the past six months, after annual [...]
Ministers consider plans to bail out businesses facing energy price spikes August 21, 2022 The government is considering plans to bail out businesses this year as they face soaring energy prices over autumn and winter. Chancellor Nadhim Zahawi is drawing up different options for the next Prime Minister to consider when they are sworn in next month. The Sunday Times reports that measures such as VAT and business rates [...]
Weekend Read: Is Britain headed for a summer recession? August 21, 2022 Britain has met the first half of the technical recession definition, meaning there is a small chance we are headed for a summer recession. The Bank of England thinks the country will tip into the longest recession since the financial crisis in the final three months of this year. Figures published last week by the [...]
Canary Wharf’s giants stand by idly as Brits flock en masse to challenger banks Monzo and Starling Bank August 20, 2022 In yet another sign that traditional High Street banks are losing ground across the UK, challenger banks have overtaken the established Canary Wharf institutions in a survey ranking how satisfied people and firms are with their services amid the worsening cost-of-living crisis. Starling Bank and Monzo were the top-ranked current account providers, while high-street lenders [...]
Unions slam P&O Ferries owner after it announces record £600m profits August 18, 2022 Unions have slammed the “corporate gangster” owners of P&O Ferries, who sacked 786 British workers this year, after the company announced record first half profits today. DP World recorded a first-half profit of $721m (£598m) – a 51.8 per cent year-on-year increase. Frances O’Grady, general secretary at the Trades Union Congress (TUC), told City A.M. [...]