Bitcoin sentiment continues to rise ahead of US inflation figures July 11, 2022 The price of Bitcoin has slipped four per cent over the past 24 hours, down to around $20,460 this morning.
Money stolen from crypto fraud soars despite crash July 11, 2022 The money stolen from crypto frauds has increased over the past year even as a crash has seen cryptocurrency prices plummet. Crypto fraudsters stole 58 per cent more money in the past 12 months with victims in the UK generally losing £36,250 per fraud, a report by cyber security company NordVPN revealed today. Total losses from crypto fraud [...]
One in six UK households face ‘serious financial difficulties’ amidst worsening cost of living crisis July 11, 2022 One in six households in the UK, about 4.4m, face “serious financial difficulties” as the cost of living crisis worsens with inflation at 40 year highs. This is an increase of 1.6m households from October last year, with over half of all UK households considering their financial situation to be worse now than during the [...]
UK government should introduce VAT relief for small businesses, says Tide boss July 11, 2022 The government should provide VAT relief for small companies to help them cope with rising business costs, the chief executive of business banking and financial services platform Tide has said. Oliver Prill, who became chief executive in 2018, said small businesses are finding it extremely tough in the current economic climate and that the UK [...]
Amazon expects record sales as cash-strapped Brits turn to Prime Day for big ticket purchases July 11, 2022 Amazon is anticipated to smash sales records as cash-strapped Brits turn to the e-commerce titan for its blockbuster Prime Day. Last year, sales during the discount bonanza hit a new record, raking in $11.2bn. Now, the e-commerce giant will be hoping more discount-hungry shoppers than ever will be seeking out the best deals from Tuesday, [...]
The City needs certainty our global outlook will continue in spite of high political drama July 11, 2022 Political turmoil and division have dominated the news agenda on both sides of the Atlantic, albeit for different reasons. And with the changes at the top of British politics, it is vital that government continues investing in London’s infrastructure, promoting innovation, and developing the UK’s status as a leading financial centre. Our financial and professional [...]
Inflation has hurt public companies, but even private tech firms will feel the pain July 11, 2022 Public market companies – particularly those in the tech sector – have felt the impact of soaring inflation, as central banks continue to pump interest rates higher. The tech-heavy Nasdaq is down 30 per cent this year and private market companies will inevitably catch up. A good benchmark to follow is often the valuations of [...]
Letters: Political turmoil must be swift July 11, 2022 [Re: Them’s the breaks’: Defiant Boris Johnson resigns as Prime Minister, yesterday] The uncertainty around who will replace the prime minister goes hand in hand with the uncertainty facing British businesses, including rising startups. The government’s disruption is self-inflicted, but the disruption caused to Britain’s early-stage funding market has been entirely inflicted upon startups. The [...]
Lawyers gearing up for ‘wave of litigation’ due to crypto crash: Furious Brits expected to claim losses back July 10, 2022 The collapse in the value of crypto is likely to lead to a raft of claims from UK investors who believe they have lost considerable sums of money after being mis-sold cryptocurrencies, lawyers have told City A.M. today. Mis-selling claims may arise in cases where cryptocurrencies were marketed as a low-risk investment, yet subsequently dropped [...]
S&P 500 to shed fifth of value if US tips into recession, Goldman Sachs warn July 10, 2022 Wall Street will suffer heavy losses if the US economy tips into recession, according to investment bank Goldman Sachs. The S&P 500 index, a broad measure of corporate America, will shed 19 per cent and close 2022 at 3,150 points if the American economy suffers a tough recession, Goldman said in a note to clients [...]