November 27, 2017
Bitcoin currency hits new record high
Virtual currency Bitcoin hit a record high of $9,700 after jumping 4.5% so far on Monday. The move takes it to 20% above the level it stood at on Friday, according to the Luxembourg-based Bitcoin exchange, Bitstamp. It started the year at around…
November 24, 2017
Brexit-charged inflation bites into Christmas spending
Shoppers at Nottingham's Christmas market complain about higher prices and volunteers hand out food parcels just a few streets away, even as retailers seek to dispel Brexit gloom with Black Friday sales. The price of everything "is shooting through…
October 27, 2017
EU bank may not fully repay UK until 2054
Billions of euros of British taxpayers' money could remain locked into an EU bank for more than thirty years after Brexit, the UK has been warned. Alexander Stubb, vice president of the European Investment Bank - in which the UK is a 16% shareholder…
October 26, 2017
Hurricanes dent profits at insurance giant Munich Re
One of the world's biggest insurance firms has said it will take a loss in the third quarter because of hurricanes Harvey, Irma and Maria. Munich Re expects the hurricanes that ravaged parts of the US and the Caribbean to cost it €2.7bn (£2.4bn)…
October 24, 2017
Saudis plan to build $500bn mega city and business zone
Saudi Arabia has unveiled plans to build a new city and business zone - a project that will be backed up by more than $500bn (£381bn) in investment. Crown Prince Mohammed bin Salman says the 26,500 sq km (10,232 sq mile) NEOM zone will be developed…
October 23, 2017
Guyana bank directors in fraud case offered bail
Eight directors with the Guyana Bank For Trade Industry were released when they appeared in Court on Monday. They are all charged with failing to comply with an order of the High Court, in relation to providing information about the movement of…
October 20, 2017
Wall Street finishes week at fresh highs
The main Wall Street indexes finished at fresh record highs on the back of increased confidence that President Trump's tax cut plan will progress. The Dow Jones rose 165.59 points to 23,328.63, while the Nasdaq index was 23.99 points higher at…
October 19, 2017
UK banks ‘exposed to money laundering in South Africa’
UK financial regulators and the Serious Fraud Office are to review if banks HSBC and Standard Chartered are linked to a South Africa corruption scandal. It comes after Lord Peter Hain said the banks may "inadvertently have been conduits" for…
October 17, 2017
Reversing Brexit would boost economy, says OECD
Reversing the Brexit process would boost the UK economy, the international economic body, the OECD has said. A new referendum or a change of government leading to the UK staying within the EU would have a "significant" positive impact on growth, the…
October 11, 2017
Trump open to a bilateral Canada-US trade deal
President Trump says if talks to reform Nafta fail, he could envisage a US-Canada trade pact, excluding Mexico. The US president said if there was no deal on the North American Free Trade Agreement, it would be terminated. He was speaking at the…