Coffee prices soar as poor harvests hurt supply November 22, 2021 Coffee shops which have benefitted from the return of office workers are being hit hard by poor harvests in Brazil.
El Salvador to build Bitcoin city at base of volcano November 22, 2021 The first country in the world to make bitcoin legal tender is planning to build a crypto fuelled city at the base of a volcano.
New York-based Apollo Global Management mulls buyout of Marks & Spencer November 22, 2021 Private equity giant Apollo Global Management is reportedly mulling a buyout of UK high street staple Marks & Spencer.
Metro Bank’s largest City shareholder sells stake after private equity buyer walks November 22, 2021 A leading institutional investor has cashed in its shares at Metro Bank after a US private equity buyer walked out on takeover talks.
Exclusive: Europe copies US as first collateralised loan obligation is raised in £219m UK deal November 22, 2021 The first commercial real estate collateralised loan obligation in Europe’s history was completed on Friday in a deal worth £219m. Backed by a portfolio of nine commercial mortgage loans originated by Starz Mortgage Capital, the deal was concluded with international law firm Reed Smith acting as advisors. “We really could be seeing the birth of [...]
UK financial watchdog calls in Bitcoin experts to combat crime November 22, 2021 The City regulator is calling in Bitcoin experts to train its staff following concerns that crypto is being used by money launderers and terrorists.
Keir’s offensive could put the business vote in play November 22, 2021 AROUND this time two years ago, as we hurtled towards the General Election of 2019, this newspaper published a front-page editorial which urged you, our readers, not to vote for Jeremy Corbyn’s Labour party. Not because of the politics – though high-tax, high-spend has never been our particular brand – but because of the anti-semitism [...]
After Amazon’s dramatic move to block Visa credit cards, businesses sound the alarm: Card fees are out of control November 20, 2021 E-commerce giant Amazon confirmed to City A.M. yesterday that it intends to stop accepting payments made using UK Visa credit cards from early next year. The online retailer said that Visa credit cards issued in the UK will be blocked from use on its site from January 19. The move sent shockwaves through Britain’s consumer [...]
Welsh and Scottish ministers sound alarm bells over impartiality in appointment process for new Ofcom chair November 20, 2021 A group of Scottish and Welsh ministers have said they are “extremely concerned” about a “perceived lack of impartiality and transparency” in the process to appoint a new Ofcom chair. The four-strong group has written to Culture Secretary Nadine Dorries asking to be included in the process and given a role which ensures the selected [...]
China hands out new fines to tech giants in anti-monopoly crackdown November 20, 2021 Chinese tech giants including Alibaba Group and Tencent Holdings have been fined for failing to report corporate acquisitions, adding to an anti-monopoly crackdown by the ruling Communist Party. The companies failed to report 43 acquisitions that occurred up to eight years ago under rules on “operating concentration”, according to the State Administration for Market Regulation. [...]