November 11, 2022
Crypto giant FTX collapses into bankruptcy
Embattled cryptocurrency exchange FTX has filed for bankruptcy in the US, seeking court protection as it looks for a way to return money to users.Former boss Sam Bankman-Fried has also stepped down as chief executive, the company said. It is a…
November 9, 2022
Cryptocurrency market rocked by near-collapse of exchange
The digital assets market has been rocked by the near-collapse of one of the world's biggest cryptocurrency exchanges, FTX. On Tuesday, FTX struck a bailout deal with larger rival Binance after a surge in withdrawals triggered a "significant…
November 4, 2022
Bank of England expects UK to fall into longest ever recession
The Bank of England has warned the UK is facing its longest recession since records began, as it raised interest rates by the most in 33 years. It warned the UK would face a "very challenging" two-year slump with unemployment nearly doubling by…
November 2, 2022
The Fed hikes US interest rates to fresh 14-year high
The US central bank has approved another sharp rise in interest rates as it wrestles to rein in fast-rising prices. The Federal Reserve said it was raising its key interest rate by 0.75 percentage points, lifting it to its highest rate since early…
October 31, 2022
US mortgage rates top 7% for first time in two decades
The average long-term U.S. mortgage rate topped 7% for the first time in more than two decades this week, a result of the Federal Reserve's aggressive rate hikes intended to tame inflation not seen in some 40 years. Mortgage buyer Freddie Mac…
October 28, 2022
Facebook owner dive 20% as investors lose faith
Shares in Meta, which owns Facebook and Instagram, have plunged more than 20% after a downbeat set of results from the tech giant. It comes as investors doubt Mark Zuckerberg's vision for future growth, and revenues and profits decline. Meta's sales…
October 20, 2022
Amazon could pay UK shoppers £900m compensation
Amazon shoppers in the UK could receive a share of £900m in compensation, once a legal claim is submitted against the technology giant. The proposed claim alleges the company breached competition law and caused customers to pay higher prices.It is…
October 13, 2022
Netflix ad-supported service to launch in November
Netflix is launching a new streaming option with adverts in November, introducing a less expensive offering as it fights to keep viewers. The plan will be available in 12 countries including the UK, US, Canada, Mexico and Australia.The firm said it…
October 10, 2022
US ramps up curbs on chip sales to China
The US is introducing further measures to restrict sales of computer chip technology to China in a bid to hobble the country's military advances.Under new rules, the US said it would bar US firms from selling certain chips used for supercomputing…
October 7, 2022
FortisTCI and TCI Government introduce Fuel Factor Stabilization Initiative
Residential customers across the Turks and Caicos Islands will see a significant reduction in the fuel factor rate on their electricity bills following an initiative between FortisTCI and the Turks and Caicos Islands Government (TCIG).Residential…