The Bank of England is looking at contentious plans to force more international banks to set up subsidiaries in the UK, people familiar with the situation have told the Financial Times. The move could reduce the thresholds requiring foreign banks with corporate business in the country to set up subsidiaries, with their own capital and
A team member for Lido has accused competitor Rocket Pool of being too centralized in a July 4 social media post. Both Lido and Rocket Pool are liquid staking protocols that allow users to delegate their cryptocurrency to validators and receive derivative tokens in exchange. According to the post from Lido’s community staking lead Dmitry
Thames Water needs billions of pounds more in cash at a time when investors lack the “appetite” to put more money in the industry, the water regulator said on Tuesday. David Black, chief executive of Ofwat, told a House of Lords committee hearing that Britain’s largest privatised water utility was struggling to secure £1bn in
The Russian army has lost half of its combat effectiveness in Ukraine, including as many as 2,500 tanks, and the main push of Kyiv’s counter-offensive is still to come, the head of Britain’s armed forces has said. Admiral Sir Tony Radakin rejected suggestions that Ukraine’s counter-offensive was proceeding slowly, arguing that the pushback against Russia
London’s Metropolitan Police has announced that it will reopen one investigation and start another into “potential breaches” of Covid-19 restrictions in December 2020, in a return of the “partygate” probe that has troubled the Conservative party. In a statement released on Tuesday, the police force said it had assessed “new material” relating to events over the
Recent weeks have seen a surge in interest from traditional finance for crypto-based exchange-traded funds (ETFs). After the Securities and Exchange Commission took issue with its initial filing, BlackRock submitted a fresh application for a Bitcoin ETF on July 3. A week earlier, Fidelity led a crop of investment firms in lodging applications with the
The Bitcoin (BTC) futures’ premium has reached its highest level in 18 months on July 4. But traders are now questioning whether the derivatives metrics indicate “excessive excitement” or a “return to the mean” after a prolonged bear market. BTC price gains capped by regulators, macroeconomics Bitcoin’s price has been trading in a narrow 4.4% range
In high-income countries, consumer price inflation is running at rates not seen in four decades. With inflation no longer low, neither are interest rates. The era of “low for long” is over, at least for now. So, why did this happen? Will it be a lasting change? What should the policy response be? Over the
Our world is awash with opinions on Thames Water. Here, from Citigroup analyst Jenny Ping, is another: Ofwat has been criticised for not being tough enough as a regulator, especially with companies taking cash out of businesses rather than investing back into the business. If one or more water utility in the UK were to
Cointelegraph is launching Zero Barriers, a special six-part podcast series in collaboration with StarkWare. The series, which features as part of the Decentralize with Cointelegraph podcast, will explore the evolving world of zero-knowledge rollups (ZK-rollups) and the next steps for the adoption of blockchain technology. Throughout the series, three different hosts from the Cointelegraph team
With the Bitcoin (BTC) halving event less than a year away, several financial giants have filed applications for a spot Bitcoin exchange-traded fund (ETF) — a scenario last seen before the 2020 to 2021 bull run. Institutional interest in the sector dried up after major crypto giants such as FTX collapsed amid a prolonged crypto
UBS is facing a new legal challenge to its takeover of Credit Suisse after a group of leading Swiss investors joined a class-action lawsuit, the latest sign of the domestic backlash to the deal. Ethos Foundation, which represents institutional investors owing about 5 per cent of stock in both banks, on Tuesday said it was
Initial coin offerings (ICOs) may have hampered the development of the Bitcoin ecosystem, with market research reflecting a massive slant towards non-Bitcoin investments by venture capitalists over the past five years. Blockstream CEO Adam Back highlighted the juxtaposition between the lack of venture investment in Bitcoin in comparison to its dominance of the total cryptocurrency
The biggest Israeli raid in the occupied West Bank for two decades continued in the early hours of Tuesday, with Israeli forces operating in the Jenin refugee camp for the second day. Backed by armed drones, hundreds of Israeli troops entered Jenin early on Monday, setting off a protracted round of fighting that has forced
Bitcoin (BTC) bulls fought for $31,000 on July 4 as a United States market closure offered the chance for volatility. Bitcoin price “getting ready to rip higher” Data from Cointelegraph Markets Pro and TradingView showed BTC price action attempting to cement overnight gains. These topped out near $31,400 before momentum waned, leaving BTC/USD still within
Sir Jim Ratcliffe, the owner of chemicals giant Ineos, has accused Britain’s competition regulator of becoming “increasingly hostile to business” after it blocked its purchase of assets being sold by a Swiss group. Ratcliffe said the decision by the Competition and Markets Authority to block the deal with Switzerland’s Sika earlier this year was “yet
Trade officials were assessing the fallout from the latest escalation in the US-China technology battle after Beijing said it would impose curbs on exports of metals used in chipmaking. South Korea’s commerce ministry convened an emergency meeting to discuss China’s decision to control exports of gallium and germanium, metals used in chips, electric vehicles and
Meta’s Facebook has suffered a further setback in the way it uses data for online advertising after the EU’s top court ruled that competition regulators are allowed to probe whether companies comply with privacy rules. The Court of Justice in Luxembourg said regulators can look at the way companies use data to advance their powerful
F Scott Fitzgerald said that a first-class mind can hold conflicting ideas without breaking down. Well, see how you get on with these two. Sir Keir Starmer is a politician of grossly unsung excellence. And his chances of winning the next UK election are, almost to the same degree, overrated. Let us take those in
The average cost of five-year fixed-rate UK mortgages has hit 6 per cent for the first time since November, as banks are called to respond to concern that savings rates are lagging behind rises in borrowing costs. The residential mortgage rate reached 6.01 per cent on Tuesday, according to data provider Moneyfacts, as the Bank
Five drones were shot down over the suburbs of Moscow around dawn on Tuesday, authorities said, causing no casualties or damage but marking at least the third drone incident this year and bringing Russia’s war in Ukraine closer to its own capital. In video footage shared on social media, explosions could be heard in New