Tech leaders double down on digital currency following Lords rebuttal January 14, 2022 Tech bosses have doubled down on calls for a central bank backed digital currency (CBDC) after a report by the house of Lords.
No Britcoin crypto: House of Lords says no to digital pound but Bank of England undeterred despite run on cash warning January 13, 2022 A bank run during economic downturns is a realistic scenario if an official British digital currency were to be created, a committee of peers has warned. The Lords Economic Affairs Committee said that the introduction of a central bank digital currency (CBDC) could pose “significant risks” in the UK. Bank of England officials are currently [...]
Crowdcube faces watchdog investigations over failed fast-food firm January 12, 2022 Crowdfunding platform Crowdcube faces a slew of investigations after a group of investors say it failed to verify a company’s business plans.
Wise shares show signs of recovery after Citi sparks sell-off January 11, 2022 Wise shares began to regain ground this morning after a sharp a sell-off yesterday saw the stock plummet to its lowest price ever. Shares in the London-based fintech firm fell 2.5% before 9am but recovered to trade up 3% on their opening price. Wise shares plummeted 7% yesterday following guidance from Citi analysts that their [...]
Morning snapshot: Your Daily Dose of pre-market news January 10, 2022 It’s Monday 10 January. Here is a quick overview of the stories that are making headlines this morning in the UK and around the world. UK POLITICS Cladding: Developers must agree a £4 billion plan to fix dangerous cladding on low-rise flats by early March or risk new laws forcing them to act, Housing Secretary [...]
Retail investors flock to sustainability firms January 10, 2022 Retail investors have flocked to ‘cleantech’ and sustainability firms as they look to capitalise on a wave of new entrants to the sector.
Buy Now Pay Later firm Klarna claims ‘credit cards pose the real risk’ January 7, 2022 Klarna has claimed credit card providers pose a bigger risk to consumers as Government prepares to clampdown on the BNPL sector.
Taxman grants reprieve for 5.7m Brits by waiving late tax return fine January 6, 2022 The taxman today granted a reprieve for self-employed Brits by waiving penalties for late filed tax returns. Anyone who fails to file their self-assessment tax return by January 31 will not be slapped with a fine by HMRC. However, Brits filing their tax returns after February 28, the new deadline, will be hit with a [...]
Mazars hit with £250,000 fine over audit failure January 6, 2022 One of Britain’s largest accountancy firms has been slapped with a £250,000 fine over auditing failures of a local authority’s 2019 financial statements. The Financial Reporting Council (FRC), the accounting regulator, said that Mazars’ audit of an unnamed local authority “fell far short of the applicable standards and regulations” and had the “potential to undermine [...]
Dropping earnings threshold and extending pensions auto-enrolment to younger and part-time workers could boost Brits’ savings by £2.7 trillion January 5, 2022 Abolishing the earnings treshold and extending pension auto-enrolment to working 18-year-olds and for part-time workers could add around £2.77 trillion to British pension savings, a think tank has said. The current auto-enrolment rules mean bosses must provide a workplace pension for staff aged 22 and over earning £10,000. But Onward, which describes itself as a [...]