This July, UK house prices recorded their biggest jump in the last 18 months. While interest rates remain undeniably high, pinching many from buying homes, experts believe that things will slowly return to normalcy when wages rise and the cost of borrowing becomes cheaper. According to Nationwide, UK house prices have been growing at their …
Abraham Shafi, the founder of the defunct social media company IRL, has been charged with fraud. The provider had supposedly told investors about growth while spending corporate funds on personal expenses. IRL, an app purporting to bring people into real life, closed in 2023 after its most users turned out to be bots. The embattled …
The Bank of England has slashed interest rates by 5%—the lowest percentage since March 2020—to relieve the financial pressures on households. This was a close vote by the members of the Monetary Policy Committee, in consideration of eased inflation. Although this cut does give some relief, do not expect big further cuts for some months …
European markets are poised for a mixed opening on Thursday as investors digest a series of central bank actions. According to IG data, Germany's DAX and France's CAC 40 are expected to open slightly below the flatline, while the U.K.'s FTSE 100 is set to edge higher. The spotlight today is on the Bank of …
Bitcoin surged to its highest level in over six weeks, reaching approximately $69,745, following remarks by Donald Trump. Over the weekend, Trump stated that he would end the "persecution" of the cryptocurrency sector if elected US President. On Monday, the cryptocurrency's value increased by over 3%, hitting its peak since June 12, when it briefly …
Elon Musk's X has once again sparked controversy in the cryptocurrency community by removing cryptocurrency emojis that had been used for over four years. The crypto community on X is perplexed by the decision to eliminate several crypto emojis, including the Bitcoin BTC - $67,096 emoji, from the social media platform. Reports indicate that X …
British regulators fined Coinbase’s UK arm £3.5 million ($4.5 million) on Thursday for violating a voluntary agreement intended to prevent the cryptocurrency exchange from onboarding “high-risk customers.” Coinbase Global shares were down nearly 2% in U.S. premarket trading. CB Payments Limited (CBPL), part of the Coinbase Group, operates a global crypto trading platform. In October …
Officially, the Ethereum [ETH] Exchange-Traded Funds made their way to the market on July 23, 2024, and made a big splash. Trading volumes for these ETFs surged beyond $1 billion within a period of 24 hours. Let's break down what that means and what could be coming next. Ethereum ETFs Break RecordsThe launch of the …
With Donald Trump re-elected as President of the USA, economic problems may yawn at Europe, particularly with key exposures expected for German, Italian, and Finnish economies. If Donald Trump is reelected as President of the United States, it may bring about huge change in Europe's economy. Economists estimate a loss of €150 billion—similar to losing …
The UK economy witnessed a growth of 0.4% as compared to zero growth in April. This will definitely bode well for new Labor Party Policy under PM Keir Starmer and Chancellor Rachel Reeves, which promises sustained growth. Regarding past challenges of inflation and cuts in spending by consumers, retail, construction, and manufacturing all showed big …
Carpetright, a UK major flooring retailer, is facing collapse and has submitted an application for administration, putting 1,800 jobs in jeopardy. The company is struggling to stay afloat with new investment. The challenges facing the firm range from economic struggles to reduced consumer spending, not forgetting a cyber-attack that yawed at its doors. Negotiations are …
Recent speculations had tipped interest rates to be slashed by the Bank of England this August. However, one of the main members presiding over the rate-setting committee at the Bank of England has cast a doubt over that possibility. With inflation not entirely ruled out, and uncertainties looming large over the economy, the BoE might …
The government is setting up a new national wealth fund to pull together key financial institutions in order to increase economic growth and private investment in the country. This will support new industries, create jobs, and fight climate change by enabling investments in green energy and other priority sectors. The UK government has announced a …
The FTSE 100 declined as the shares of BP and Burberry dropped. It issued a warning that profits would take a hit of $2 billion, while the latter was considering potential job cuts. On the other hand, US technology stocks gained on interest in the Fed's imminent decisions over interest rates. The FTSE 100 fell …
