Bitcoin price (BTC) smashes through $12,000 to reach a new record high December 6, 2017 Cryptocurrency bitcoin smashed through the $12,000 mark early this morning amid fears of a bubble among analysts. Bitcoin, which has risen more than 1,000 per cent this year, was up 6.12 per cent at $12,411.71 at the time of writing, according to Coindesk’s aggregate index. Naeem Aslam, chief market analyst at Think Markets said bitcoin’s [...]
Citi and JP Morgan top regulators’ list of systemically important banks, as HSBC and Barclays move to lower tier November 21, 2016 Citigroup has joined JP Morgan Chase as one of the world's top two "systemically important banks", according to an updated list published today by the Financial Stability Board (FSB). Banks in the top tier will have to hold 2.5 per cent of their assets as buffer capital in case of another crisis. This means that US [...]
Shadow MPC: The Bank of England should hold interest rates amid hesitantly positive economic data March 22, 2018 Interest rates are widely expected to be kept at their current 0.5 per cent level today, as the Bank of England (BoE)’s monetary policy committee (MPC) meets to deliver its verdict. In the second MPC rate review of this year, due to be announced at midday, the BoE’s policy makers are likely to credit only [...]
Investec and Banco Sabadell are backing hot UK fintech startup Bud with £1.5m October 24, 2017 Investec and Banco Sabadell, the owner of TSB, are backing a UK fintech startup which is creating platforms to help people manage their finances. Bud has raised £1.5m from investors, led by the FTSE 250 asset manager and InnoCells, the Spanish Bank’s digital venture arm. Also participating in the early stage round is Force Over [...]
JP Morgan Chase beats expectations as it begins Wall Street bank reporting session October 14, 2016 JP Morgan Chase beat expectations in its third quarter results on Friday morning. The figures The bank reported revenue of $25.5bn (£20.8bn), ahead of analyst expectations of $24bn. The turnover figure was up 8.4 per cent. Earnings, meanwhile, came in at $1.58 per share. This was ahead of the $1.39 per share that analysts were [...]
Joke cryptocurrency Dogecoin’s market cap just shot past $2bn January 8, 2018 The market cap of a joke cryptocurrency has doubled in less than a week, shooting past the $2bn mark in the latest sign of the craziness of the crypto world. Dogecoin, based on a Shiba Inus dog internet meme which first emerged in 2013, had already hit the headlines last week when it passed the [...]
Bitcoin’s the next Enron says billionaire Saudi prince Alwaleed bin Talal October 23, 2017 Billionaire investor and Saudi prince Alwaleed bin Talal has slammed bitcoin and called it “Enron in the making”. He predicts the cryptocurrency, which is on a streak hitting all time highs over the weekend will “implode” in a scathing comment on the nearly $100bn market. Read more: Bitcoin’s back below $6,000 “It just doesn’t make [...]
Credit Suisse fined $135m for New York forex investigation November 14, 2017 New York regulators have slapped Swiss bank Credit Suisse with a $135m (£103m) fine after finding it engaged in misconduct in its foreign exchange trading business. Credit Suisse shared information with other banks which may have allowed coordinated trading and “manipulation of exchange rates”, the Department of Financial Services (DFS) in New York said in [...]
Intercontinental Exchange, Deutsche Borse and the London Metal Exchange granted last-minute reprieve from Mifid II futures rules January 3, 2018 The largest regulatory shake-up in a generation finally hit markets across Europe yesterday, but got off to a more turbulent start than European authorities expected. The UK’s finanial regulator and its German counterpart began the day by allowing three of the world’s largest exchange groups to delay the implementation of new rules, designed to boost [...]
Bitcoin (BTC) keeps dropping to lowest level this month as price falls below $6,300 November 11, 2017 The notoriously volatile cryptocurrency bitcoin has fallen to its lowest price this month after rallying in the first week of November and then crashing by more than $1,000 on Thursday and Friday. The price of a single bitcoin is down 4.53 per cent at $6,272.24, according to Coindesk’s aggregate index, a level it hasn’t reached [...]