‘I actually don’t know if Libra’s going to work’: Congress grills Zuckerberg over Facebook’s digital currency plans October 23, 2019 Facebook chief executive Mark Zuckerberg has appeared before Congress to defend the social media giant’s controversial proposed digital currency, Libra. Zuckerberg told US lawmakers that Facebook would not support Libra launching before the stablecoin has won the approval of all US financial regulators. Read more: Bitcoin falls to lowest level since June amid Libra concerns [...]
Bitcoin falls to lowest level since June amid Libra concerns October 23, 2019 Bitcoin has tumbled eight per cent as concerns mount over cryptocurrencies ahead of Facebook boss Mark Zuckerberg’s appearance before Congress this afternoon. Zuckerberg is set to be questioned on Libra, Facebook’s proposed digital currency, from 3pm UK time. Regulators and lawmakers from around the world have raised concerns about the possibility of Libra being used [...]
Banks could drop Facebook over Libra, ING head warns October 22, 2019 Banks could have to cut ties with Facebook if it launches Libra without first addressing regulators’ concerns over the possibility of the digital currency being used for money laundering, the head of ING was warned. Chief executive Ralph Hamers said banks such as ING act as “gatekeeper to the financial system”, and told the Financial [...]
DEBATE: Can Neil Woodford’s reputation ever recover? October 17, 2019 Can Neil Woodford’s reputation ever recover? Tom Berry, chair at Chameleon PR, says YES. Reputation in this day and age is a transient thing. The value of Neil Woodford’s brand might be at an all-time low now, but he has 30 years of successful investing behind him – and he has made a lot of [...]
Booking.com owner becomes latest to abandon Facebook Libra October 14, 2019 Booking Holdings, the company behind websites including Booking.com, has become the latest firm to quit Facebook Libra, the social media giant’s embattled cryptocurrency project. Libra confirmed that Booking – which also operates sites including Opentable and Kayak – is withdrawing from the Libra Association, the stablecoin’s Swiss-based independent governing body. Read more: Facebook cryptocurrency Libra [...]
Facebook cryptocurrency Libra dealt fresh regulatory blow by G7 October 14, 2019 Facebook’s Libra digital currency project must not go ahead until the social media giant demonstrates it is safe and secure, according to a G7 report. The world’s largest economies warned that cryptocurrencies such as Libra pose a threat to the global financial system and backers must ensure the coins are not used to launder money [...]
Venture capital investment in fast-growing UK businesses surges October 10, 2019 Venture capital (VC) investment in fast-growing British businesses surged 19 per cent in the third quarter to over £2.4bn, new figures have shown, meaning the UK is on target to smash last year’s record investment levels. Over £7.4bn was invested by VCs in UK scaleup firms during the first nine months of 2019, almost equalling [...]