Bitcoin slips to three-month low as US considers further interest rate hikes June 15, 2023 Bitcoin dropped to March lows and was trading at just under $25k this morning, while Ethereum was down 6% over the last 24 hours.
Revolut hit with 40 per cent valuation write down amid banking licence woes June 15, 2023 Revolut’s value has plunged by nearly 40 per cent over the past year as it struggles to win a banking licence and fails to provide full “visibility” on its accounts, according to a major investor in the firm. London-based Revolut, run by Russian-British founder Nik Storonsky, bagged a $33bn valuation at the peak of the [...]
‘London buzzing’: City pub favourite Fuller’s boosted by summer drinking as workers return to office June 15, 2023 The chief executive of Fuller’s has said London is “buzzing” with activity as sunny spells and a return to office working has helped boost business trade. Simon Emeny, Fuller’s’ chief reported an increase in corporate booking across its almost 400 strong pub estate as employees returned to the office post-pandemic. The pub chain also reported [...]
Bailey holds the torch for a proud UK tradition – failing our monetary policy June 15, 2023 Andrew Bailey and the economists at the Bank of England are part of a long line of people who have failed Britain’s monetary policy, writes Will Cooling
Bunzl looks at more acquisitions to drive growth as revenue ‘broadly flat’ in first half of year June 15, 2023 Outsourcing group Bunzl expects its continued acquisitions spree to drive growth over the next six months, but said its underlying revenue for the first six months will likely remain ‘broadly flat’. The group said it is expecting its revenue to increase year-on-year by 4-5 per cent at actual exchange rates, and to grow by one [...]
Federal Reserve pauses interest rate rise campaign as US inflation subsides June 14, 2023 The US Federal Reserve today held off on firing interest rates higher for the first time in over a year, electing to wait and see what impact prior increases have had on the world’s largest economy before straining households and businesses further. Chair Jerome Powell and the rest of the Federal Open Market Committee (FOMC) [...]
UK economy swings back to growth but spectre of recession looms amid interest rate fears June 14, 2023 Britain’s economy swung back to growth in spring, but the recent turmoil in the mortgage market and the prospect of the Bank of England hiking interest rates aggressively has put the risk of a recession back on the table. Official figures out today from the Office for National Statistics (ONS) showed gross domestic product – [...]
Pound hits highest level against US dollar in over a year as traders bet Bank of England will outmuscle Fed June 14, 2023 Pound sterling today climbed to its highest level against the US dollar in over a year, driven upwards by investors betting that the Bank of England will surpass the Federal Reserve in its interest rate rise cycle to bring down inflation. Britain’s currency jumped around 0.7 per cent today to nearly $1.27, taking it to [...]
WE Soda scraps London listing plans in ‘fresh blow’ to the City June 14, 2023 Soda ash firm WE Soda has ditched its plans to float on the London Stock Exchange today citing “extreme investor caution”, just one week after first announcing the move. The Turkish owned firm had delivered a boost to London’s beleaguered exchange when it revealed last week it was plotting a London IPO in what would [...]
Robert Walters: Share price plunges for recruitment giant after warning of ‘significantly’ lower profits June 14, 2023 Global recruitment agency Robert Walters shares nosedived this morning when markets opened as the staffing firm warned that its profits for the year would be “significantly” lower than previously anticipated. Shares in the London-listed recruiter plunged by 15 per cent, however they have now clawed back to around 13 per cent, as the group posted [...]