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Bank of America slams 'volatile' and 'impractical' bitcoin

Financial News
Bitcoin's volatility makes it 'impractical as a store of wealth or payments mechanism'
Bitcoin’s exceptional volatility makes it “impractical as a store of wealth or payments mechanism,” the bank's analysts said
Getty Images
By
Wednesday March 17, 2021 2:11 pm
Analysts at Bank of America have attacked bitcoin as “exceptionally volatile” and “impractical” in a 17 March research note.
In the note, the analysts said there was “no good reason to own bitcoin unless you see prices going up”.
The analysts said the supply of the cryptocurrency was by design artificially constrained so demand swings are...

United-states , America , Analysts-at-bank , Bank-of-america , Fintech , Bitcoin , News , Cryptocurrencies , Banking , Banking-credit , Financial-services

Brexit equivalence deal for City is now so unachievable it's 'silly' to bother

Financial News
Brexit equivalence deal for City is now so unachievable it’s ‘silly’ to bother
'Six months from now, people will have almost forgotten there is such a thing as equivalence'
“Six months from now, people will have almost forgotten there is such a thing as equivalence,” said a senior lobbyist at a bank in London
Getty Images
By
Monday March 15, 2021 12:01 am
There’s a growing consensus forming across the City: The finance sector’s post-Brexit future will be one without equivalence.
Six senior City lobbyists at London’s largest banks and trade groups, as well as regulatory advisers to finance's most senior executives told Financial News that they are now preparing for a Brexit deal that does not hinge on equivalence - where the EU allows those with matching standards access to its markets.

London , City-of , United-kingdom , Financial-news , Brexit , Regulation-government-policy , Corporate-industrial-news , Political-general-news , International-relations , Politics-international-relations , Domestic-politics

London is the destination of choice for Hong Kong's most affluent

Financial News
The BNO scheme provides a direct route to UK citizenship for most Hong Kongers
By
Tuesday March 16, 2021 10:29 am
Hong Kong’s uncertain political future has led to a wave of departures over the past 18 months, with cities from Los Angeles to Vancouver seeing an increase in demand for residential property from residents of the city. But as the pace of Hong Kong emigration accelerates, London is emerging as a clear favourite destination, especially among high-net-worth individuals.
“The view is that while many global destinations provide strong appeal, the UK property market provides a safe haven with a track record of stability and growth,”...

Hong-kong , United-kingdom , Los-angeles , California , United-states , London , City-of , Real-estate , News , Property , Real-estate-construction

Sweden suspends AstraZeneca vaccinations

Suspected side effects have included blood clots, in combination with low levels of platelets in some

Sweden , Swedish , Astrazeneca-covid , Swedish-public-health-agency , European-medicines-agency , Corona-virus , Covid-19 , News , Vaccine , Biotechnology , Pharmaceuticals , Healthcare-life-sciences

EU ambassador to UK warns Brexit snags may take years to smooth

João Vale de Almeida says UK policymakers needed to accept that leaving Europe's trading bloc, the customs union and single market has 'consequences'

United-kingdom , European-union , Vale-de-almeida , News , Brexit , Political-general-news , International-relations , Politics-international-relations , Domestic-politics , Synd , Political

Greece joins Cyprus with plans to welcome vaccinated Brits from 14 May

Move comes as EU plans to roll out digital vaccine passports

Berlin , Germany , Greece , Greek , Haris-theoharis , Lockdown , Corona-virus , Covid-19 , News , Vaccine , Political-general-news

Crypto firm Cred failed due diligence, set ex-UK fugitive in charge of capital raising

Crypto firm Cred failed due diligence, set ex-UK fugitive in charge of capital raising
The firm’s collapse into bankruptcy was largely due to a 'dereliction in corporate responsibility'
By
Wednesday March 10, 2021 7:30 am
Cryptocurrency investment platform Cred unwittingly put a convicted financial criminal identified by the UK as a fugitive in charge of raising and deploying the firm’s capital before its collapse into bankruptcy, a court-appointed examiner said.
An examiner’s report filed on 8 March in the US Bankruptcy Court in Wilmington, Delaware, said that Cred failed to keep reliable records, properly track customer funds, perform due diligence on the firm’s investments or uncover the “extremely worrisome past” of former Chief Capital...

Delaware , United-states , United-kingdom , Us-bankruptcy-court , Chief-capital , Fintech , News , Crypto-currency , Banking-credit , Financial-services , Financial-technology

Hong Kong won't appeal ex-JPMorgan banker bribery acquittal

Hong Kong won’t appeal ex-JPMorgan banker bribery acquittal
Leung Kar-cheung was acquitted of two counts of bribery on 1 February
By
Thursday March 4, 2021 8:16 am
The Hong Kong government won’t appeal the acquittal of an ex-JPMorgan banker accused of bribery after offering a job to the son of a client.
Ex-banker Catherine Leung Kar-cheung was charged in 2019 with bribing the chair of Kerry Logistics by offering a job to his son, The Wall Street Journal reported.
Leung was acquitted of two counts of...

Hong-kong , Catherine-leung-kar-cheung , Kerry-logistics , Wall-street-journal , News , Jp-morgan , Freight-transportation-arrangement , Financial-investment-services , Banking-credit , Freight-transport-logistics , Financial-services

People aged over 40 next in line for UK's Covid-19 vaccines

Scientists rejected an occupation-based approach, saying speed most important

United-kingdom , Committee-on-vaccination , Joint-committee , Corona-virus , News , Politics , Vaccine , Pharmaceuticals , Vaccines , Healthcare-life-sciences , Specialized-drugs-medications

City of London to halt the removal of slavery-era statue

City of London to halt the removal of slavery-era statue
City councillors will now consider a range of options for the statue, including the addition of a plaque
By
Monday February 22, 2021 5:36 pm
The removal of a statue depicting a former London lord mayor from the 18th century has been halted, after a committee of councillors opted to review further options.
Acting as lord mayor in 1762 and 1769, William Beckford made his vast wealth from plantations in Jamaica, which was largely staffed by enslaved people.
On 21 January City councillors...

Jamaica , London , City-of , United-kingdom , William-beckford , City-of-london-corporation , Diversity , News , Politics , Political-general-news , Society-community