The FTSE 100 rose on Wednesday, rallying after a mass sell-off led to a 2% fall in the previous session. The index rose 0.6%, lifted by oil giants BP Plc’s and Royal Dutch Shell’s respective gains of 2.0% and 1.7%. The surge followed a report from Azerbaijan’s energy ministry said BP’s oil output reached 5.9
UK banks and insurers have shifted thousands of jobs and over £1 trillion in combined assets out of the UK and into European Union hubs due to the impact of Brexit, a new study has confirmed. According to research from think tank New Financial, more than 440 firms in the UK banking and financial services
Bitcoin and Ethereum fell during Tuesday trading, extending a price decline that began last week, while joke cryptocurrency Dogecoin rallied further after a record surge. Bitcoin was down 4.6% by 9.20 AM in London, while Ethereum was down around 5.3%. The world’s two most highly valued cryptocurrencies were trading at $54,763.19 and $2,134.70 respectively. Meanwhile,
JPMorgan confirmed on Monday that it is financing the nascent European Super League, a breakaway group featuring 12 of Europe’s biggest football clubs that threatens to shake up the sport. Six Premier League teams – Arsenal, Chelsea, Liverpool, Manchester City, Manchester United and Tottenham Hotspur – are involved in the deal, alongside AC Milan, Atletico
China’s economy grew a record 18.3% in the first quarter of 2021 compared to the same period in 2020, new data has shown. Growth was also up from 6.5% in the fourth quarter of 2020. The results mark the biggest jump in Chinese GDP since quarterly records began in 1992. However, the economy’s growth fell
JPMorgan Chase & Co said on Thursday that it will commit $2.5 trillion towards sustainability and development initiatives over the next decade. $1 trillion of the pledged funding has been earmarked solely for investment in green projects, including renewable energy and clean technologies. The $2.5 trillion target for investment, which begins in 2021 and will
Coinbase, the US’s largest cryptocurrency exchange, reached a valuation of over $100 billion on its first day of public trading on Wednesday. The company was valued at $99.6 billion when trading opened, with stocks priced at $381 apiece. This price would later fall to $328.28, but not before reaching the $100 billion milestone. Read More
US stock indexes were set to rise on Wednesday following positive earnings reports from investment banks. JPMorgan Chase & Co and Goldman Sachs Group Inc both beat analysts’ expectations for first-quarter profit. Goldman saw its overall investment banking revenue jump 73% to $3.77 billion, the highest amount seen since 2010. The bank managed to effectively
The value of Bitcoin hit a record $62,741 in early Tuesday trading, a surge of more than 4% in the past 24 hours. This latest extension of the cryptocurrency’s 2021 rally comes one day ahead of the initial public offering of Coinbase, which is set to list on the Nasdaq index on 14 April. Coinbase
Contactless and digital payments have without doubt grown in popularity during the last year, accelerated by the COVID-19 pandemic and consumers trying to avoid using cash to reduce the spread of the virus. As a consequence, the contactless limit in the UK has recently been increased to £100. While a welcome move for both consumers
Non-essential shops and services have reopened across England and Wales as lockdown rules are eased across the UK. Gyms, hairdressers and zoos can now reopen, while pubs and restaurants are able to host customers in outdoor areas. Prime Minister Boris Johnson has urged people taking advantage of the eased restrictions to “behave responsibly” and continue
The Biden Administration has proposed sweeping tax reforms to the OECD intended to limit multinational corporations’ ability to move profits overseas, in addition to a worldwide minimum corporate tax rate. Plans leaked to the Financial Times showed that the administration is pushing for multinational corporations to be taxed not only on the basis of where
