Are ‘sovereign’ cryptocurrencies an exploitation of blockchain technology? June 12, 2019 Blockchain, a multi-network system, enables a peer-to-peer monetary ledger to be constructed, recording all transactions that occur. This transparent, immutable, open-access record of financial flows disrupts the conventional belief that central-control is needed for money to work. Thus, some of the key attributes of blockchain-based cryptocurrencies are that they promise economic liberation, have no political [...]
Why enterprises are making the switch to public blockchains June 12, 2019 Online stock trading and electronic marketplaces shook Wall Street’s dominance up in the nineties. Two decades later, blockchain technology threatens to do the same through its removal of third party intermediaries. A couple of years ago when ‘blockchain’ started to turn heads, the idea of a completely public, free-for-all system secured by cryptoeconomics (proof of [...]
Opening the fund-gate: How to prevent the Woodford saga from happening again June 12, 2019 The UK’s most famous fund manager has been having a terrible time recently – or perhaps infamous is a better way to describe Neil Woodford these days. Trading in Woodford’s £3.7bn Equity Income fund was suspended last week after a stampede of investors rushed to get their money back. Those remaining are now stuck, and [...]
HG Capital targets £80m fundraise June 10, 2019 HG Capital Trust plans to raise £80m through a share placing to fund opportunities in an “attractive proprietary pipeline”. The FTSE 250 investment trust will issue 37m new ordinary shares at 217.1p each, representing around 10 per cent of its current issued share capital. The trust said its partners and staff are expected to invest [...]
Ladbrokes owner GVC suffers huge shareholder revolt against pay June 5, 2019 Over 40 per cent of shareholders in GVC Holdings, the owner of betting shop Ladbrokes, have staged a revolt over pay at the company’s annual meeting in Gibraltar today. Nearly 194m votes were cast against the firm’s remuneration report, in which GVC chief executive Kenny Alexander received £19.1m last year. Read more: Ladbrokes owner GVC [...]
Cryptocurrency pioneer pays $4.57m for lunch with Warren Buffett June 4, 2019 Cryptocurrency pioneer Justin Sun has bid a record $4.57m (£3.6m) to have lunch with Berkshire Hathaway’ Warren Buffett, a longtime critic of cryptocurrencies. Read more: Bitcoin hits 10-month high after strong start to 2019 The 28-year old submitted the winning bid during a five-day online charity auction on eBay which ended on Friday. Previous winners [...]
Fintech expert: London needs its own digital currency May 29, 2019 | City Talk By Ian Hall (Morning Wire, for CFA Institute) Powerhouse cities such as London should have their own digital currencies, according to a global fintech expert. David Birch, principal at 15Mb as well as being a well-known consultant and commentator on digital financial services, told an audience at the 72nd CFA Institute Annual Conference that “it really is time [...]
The robots are coming – and they’re (potentially) after your job May 22, 2019 | City Talk By Ian Hall (Morning Wire, for the CFA Institute) ‘You want your robot to be smarter than the other team’s robot’: advice that sounds like it belongs to a participant in combat competition TV show Robot Wars. But, actually, it’s the increasingly competitive and technology-affected situation that many investment professionals will face in the workplace [...]
Big cryptocurrencies bounce back, but smaller rivals lie in wait May 20, 2019 | City Talk For users and proponents of cryptocurrencies, the stamp of approval from online auction giant eBay set the seal on a powerful comeback during this year so far. Bitcoin and some other selected cryptocurrencies are to be accepted as a form of payment by eBay. This doesn’t only greatly expand the “network effect” by which a [...]
Bitcoin bounces as the pound plunges: what’s next for global markets? May 20, 2019 | City Talk Last week was all about a modern currency enjoying some big moves – all while a more established one was plunging. Bitcoin has been grabbing its fair share of headlines in recent months, with the crypto favourite trading above $8,000 last week for the first time since July last year. This served to bring the [...]