Wall Street dips on tech sell-off after FTSE 100 closes higher March 30, 2021 Wall Street closed in the red today following a sell-off of tech stocks as US Treasury yields hit a 15-month high. The S&P 500 and Dow Jones both dropped 0.3 per cent, while the Nasdaq slipped 0.1 per cent. It came after the FTSE 100 pushed higher following a volatile start to the week as [...]
US regulatory scrutiny grows as Archegos collapse sparks losses March 30, 2021 US regulatory scrutiny mounted today as Wall Street began to count the cost of losses sparked by the collapse of hedge fund Archegos Capital Management. Shares in Credit Suisse fell a further three per cent, taking total losses to 16 per cent for the week, on fears about the losses linked to Archegos’ meltdown. The [...]
City of London boss says most workers will return to office after pandemic March 30, 2021 The City of London financial centre is likely to see most workers return to their offices after the pandemic, the City’s policy chair said this morning. Catherine McGuinness told BBC radio she was confident that trade would return for businesses that rely on crowds of office workers. While McGuiness’s comments come as a boost for [...]
Bernoulli’s Prisoner’s Dilemma: applying the scenario to modern markets March 30, 2021 In 1738, the Swiss mathematician and physicist Daniel Bernoulli proposed a simple thought experiment: “A rich prisoner who possesses two thousand ducats but needs two thousand ducats more to repurchase his freedom, will place a higher value on a gain of two thousand ducats than does another man with less money than he.” Let’s place [...]
Bitcoin rebounds strongly after a tough week, refusing to drop below $50K March 29, 2021 Bitcoin shows resilience and rebounds strongly after a tough week, refusing to bow to pressure and drop below $50K.
Tory MPs urge Boris Johnson to scrap work from home guidance next month March 29, 2021 Conservative MPs have called on Boris Johnson to lift work from home guidance next month to speed up an economic rebound. They argue that with more than half the adult population having received a Covid jab, those who want to return to the office should be allowed to do so. Clarity is yet to emerge [...]
UK and EU strike cooperation deal on financial services March 26, 2021 The UK and EU have agreed the terms for future cooperation on financial services between the two jurisdictions. “Formal steps need to be undertaken on both sides before the Memorandum of Understanding (MoU) can be signed but it is expected that this can be done expeditiously,” The Treasury said in a statement. “The MoU, once [...]
Is your boss an introvert? Then working from home may be here to stay March 26, 2021 The majority of small businesses in the UK is run by introverts, and remote working as a result of the pandemic could be here to stay for many of their employees, according to a new study. From the roughly 1,000 business owners that were approached by Hitachi Capital Business Finance, just over two thirds, or [...]
Are US stimulus cheques really going into Bitcoin? March 26, 2021 Persistent reports keep suggesting that Americans are keen to plough their $1,400 stimulus cheques into Bitcoin - but is that really the case?
Lloyd’s of London may ditch strict dress code after 335 years March 26, 2021 Lloyd’s of London could ditch its strict dress code policy for the first time in its 335-year history, with some brokers calling for the “stuffy” attire to be scrapped. Lloyd’s staff who work in one of the City of London’s most iconic buildings are expected to abide by a strict dress code. Men are expected [...]