Bank of America revenue slides as rock-bottom rates squeeze income July 14, 2021 Revenues at Bank of America slid four per cent in the second quarter of this year, driven by rock bottom interest rates to ease the economic fallout from Covid eating in the banking giant’s net interest income. Overall revenue, net of interest expense, fell to $21.5bn, much lower than analysts’ estimates of $21.8bn. Read more: [...]
Sharpest inflation increase since 2008 fails to drive Bitcoin demand July 14, 2021 The crypto markets are down again today, with both Bitcoin and Ethereum prices falling to levels not seen since late June.
UK listed companies set for rebound after brutal pandemic hit July 14, 2021 UK listed companies saw a record decline over the course of the Covid-19 pandemic, but recovery is already underway and predicted to rapidly pick up. Investment manager J O Hambro Capital Management today said the pandemic was deeper and more widespread than any other downturn in recent history. The impact of the coronavirus pandemic was [...]
A crackdown on music streaming services would harm Britain’s hard-won creative success July 14, 2021 Britain’s music industry is a lynchpin in our culture and national identity, but it is also a huge driver of our economy, a source of digital innovation, and a major asset for our global competitiveness. As the PM has announced the removal of all limits on gatherings indoors and outdoors, we need to play an [...]
Test and trace: One in five High Street workers now in self-isolation July 13, 2021 Hospitality and retail chiefs warned MPs today that a record one in five high street workers are self-isolating due to government pandemic tracing rules, and the situation could worsen. Kate Nicholls, chief executive of trade group UKHospitality, told MPs on the Business, Energy and Industrial Strategy committee that firms have forecast that a third of [...]
How Fintech can harness the power of big data to redefine market forecasting July 13, 2021 Advances in predictive analytics using machine learning (ML) algorithms and blockchain technology demonstrate how innovations in financial services are challenging traditional systems to inform decisions, improve forecasting accuracy and bring better value to customers. As businesses seek to tap hidden intelligence within huge volumes of raw structured, semi-structured and unstructured data to support financial decision-making, [...]
US inflation surges at fastest pace in over a decade July 13, 2021 US inflation rose at the fastest pace in over a decade last month as severe supply constraints and shortages of key raw materials drove prices up sharply, according to new figures released on Tuesday. The US consumer price index rose 5.4 per cent annually in June, the largest increase since August 2008. The US CPI [...]
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
UK entertainment and media industry to lead western Europe by 2025 July 13, 2021 The UK’s entertainment and media industry is forecast to become the largest in western Europe by 2025 following a rapid rebound in the aftermath of the pandemic. The sector has suffered a major setback due to Covid, with total revenue falling five per cent in 2020 due to the impact of lockdowns on cinema, live [...]
Forward Partners confirms £36.5m AIM listing July 13, 2021 Tech-focused venture capital firm Forward Partners will list on London’s AIM market later this month with a market capitalisation of £134.6m. The firm said that its listing was oversubscribed, and would raise proceeds of £36.5m, which it will use to fund future investments. Blackrock and Draper Espirit are both backing the listing, having committed to [...]