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Yen Holds Steady, Asian Stocks Stabilize as Volatile Week Concludes
On Friday, the yen steadied near a 12-week high against the dollar while Asia-Pacific equity markets stabilized, recovering from their worst session since mid-April the previous day. MSCI’s broadest index of Asia-Pacific shares was only 0.06% lower, after a 1.88% drop on Thursday. Much of the market weakness stemmed from Taiwan, which had reopened after […] More
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Competition Watchdog Slams Unfair Fuel Prices: A Continuing Rip-Off
In a recent update on its fuel market oversight, the Competition and Markets Authority (CMA) reported that the inflated retail fuel margins since 2019 have cost motorists more than £1.6 billion in 2023. Last year, the CMA discovered that drivers had been overcharged by £900 million at supermarket fuel stations alone in 2022. The CMA […] More
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Labour Plans to Utilize Crown Estate Land for Wind Energy Expansion
The government plans to use British seabed owned by the Crown Estate to develop wind farms, aiming to power 20 million homes. This marks the first major initiative by Great British Energy, the new government company dedicated to increasing renewable energy, which will receive £8.3bn in state funding over the next five years. Energy Secretary […] More
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Coinbase UK Fined $4.5 Million by British Regulator for ‘High-Risk’ Customer Breaches
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 […] More
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Stocks Plunge as US Tech Sector Faces Major Sell-Off
UK stocks hit a three-month low after a major sell-off in US tech shares triggered a global market plunge. The FTSE 100 fell by 0.8%, while the FTSE 250 dropped 1.1% as trading opened, following a sell-off sparked by declining profits at Tesla, the world’s largest electric car maker. US stock markets experienced their worst […] More
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Cineworld to Cut Hundreds of Jobs in Major Restructuring Plan
Sky News has learned that the cinema operator will announce a restructuring plan on Friday, leading to the closure of approximately 25 sites across the UK. According to city sources, around half a dozen Cineworld cinemas will begin the closure process immediately and will shut their doors for the last time later this summer. The […] More
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Revolut Secures UK Banking Licence After Three-Year Wait
Revolut has announced that it has secured a UK banking licence, concluding a regulatory process that spanned over three years and providing a significant boost to the fintech’s expansion plans in its home market. The London-based company revealed on Thursday that it received the licence from the Prudential Regulation Authority (PRA), which had initially received […] More
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Global Markets Tumble as AI Stocks Lead Decline in US and Asia
Global financial markets in both the US and Asia have seen significant declines as investors pull back from technology stocks, with AI-related shares experiencing substantial losses. In Wednesday’s trading in New York, the S&P 500 fell by 2.3%, and the tech-centric Nasdaq dropped by 3.6%, marking their largest one-day declines since 2022. The Dow Jones […] More
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AI to Combat Pickpocketing: A Modern Approach to Urban Safety
Pickpocketing, a crime as old as time, continues to plague cities worldwide. While human vigilance remains essential, technology is emerging as a powerful ally in the fight against these nimble thieves. Artificial intelligence (AI) offers a promising arsenal of tools to deter, detect, and prevent pickpocketing. Predicting the Crime Before It Happens AI’s predictive capabilities […] More
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£1.2 Billion Lost from Pension Pots Due to ‘Rip Off’ Charges
Over £1 billion in savings have been lost from pensions due to “rip-off” charges. Reports indicate that a staggering £1 billion in pension funds has been erased in what is described as a harsh impact on pension holders due to rising costs of living. According to The People’s Pension, UK savers may have lost £1.2 […] More
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