Bank of England warns on cryptocurrency risks June 28, 2018 The head of the Prudential Regulatory Authority (PRA) Sam Woods wrote to chief executive officers (CEOs) of financial institutions today to warn of the risks of cryptocurrencies. The regulator, which is part of the Bank of England, warned that cryptocurrencies showed high price volatility and also raised concerns about vulnerability to fraud and manipulation as [...]
Are US oil prices set for a test of $76? June 27, 2018 | City Talk For someone who has claimed to be unhappy about rising oil prices the Trump administration sure has a funny way of showing it, or taking steps to achieve it. Having implemented a raft of tax cuts at the beginning of the year to put more money in consumers’ pockets the White House administration’s action since [...]
Old Mutual wealth management arm Quilter lists in London with valuation of £2.8bn June 25, 2018 Old Mutual's wealth management division quilter has today listed in London at a price of 145p per share. The company which was previously named Old Mutual Wealth today said its market capitalisation at admission would be around £2.8bn. The offer comprises around 165,010,507 ordinary shares, which counts for around 8.7 per cent of the company's [...]
Mind Gym sets market cap of £145m for upcoming float on AIM June 25, 2018 Training firm Mind Gym will have a market cap of around £145m when it floats on London Stock Exchange sub-market AIM this Thursday, the company said today. Liberum will work as the nominated adviser, bookrunner and broker to the deal, as 34,828,410 will go on the market at a price of 146p per share. The [...]
Bitcoin drops as global pressures on cryptocurrencies rise June 24, 2018 Bitcoin has fallen to its lowest level yet this year in the wake of tougher global action and increased scrutiny of the world’s biggest virtual currency. The cryptocurrency fell over five per cent today from $5,920 (£4,462) to $5,825, having reached a high of nearly $20,000 late last year. As the first decentralised digital currency, [...]
Bitcoin slumps to four-month low as Japanese financial regulator issues money laundering warning June 23, 2018 There was more bad news for cryptocurrency investors yesterday as Bitcoin crashed to a four-month low after Japan's financial regulator warned six digital currency exchanges to improve their anti-laundering systems. Bitcoin's price fell as low as $6,085.59 on Bitstamp, and came close to hitting its lowest level for the year of just below $6,000. Despite [...]
Bank of England surprises with a hawkish hold June 21, 2018 | City Talk When the Bank of England held rates at its May meeting it was merely reaffirming what governor Mark Carney had warned the markets about only a few weeks previously at the IMF meetings in Washington. Up until those comments by the Bank of England governor a rate rise was more or less a done deal [...]
UK-based ‘six sigma’-style software company iNexus to float in London June 20, 2018 Software company iNexus said today that it is set to float on London’s junior market AIM tomorrow. The Coventry-headquartered company is a ‘software as a service’ business which provides a cloud-based platform to companies to help with continuous improvement and strategy execution. Its software supports Hoshin Kanri, a strategy development method, first introduced the 1960s [...]
Why Opec matters June 20, 2018 | City Talk Whether we like it or not oil prices matter, as they affect everything connected with a modern economy, from movement of goods and services, to the amount of disposable incomes for ordinary consumers. That is why this week’s Opec meeting is important in the context of future direction for oil prices, which have risen over [...]
European equities: Profit growth continues to drive the rally June 19, 2018 In his European equity funds Berenberg European Focus Fund and Berenberg Eurozone Focus Fund, which were launched in early October 2017, fund manager Matthias Born focuses on enterprises with stable profit growth. And so naturally he is delighted that corporate profits in Europe rose strongly again in 2017, for the first time in a long [...]