Business

Pound US dollar exchange rate steady as doubts over US-China trade deal increase

Pound US dollar exchange rate steady as doubts over US-China trade deal increase Julian Evans-Pritchard, Senior China Economist at Capital Economics, said that the deal was “mostly a rehash of existing commitments”, echoing a more general sentiment which has left US markets feeling jittery over further obstacles to a “phase two” agreement between Washington and Beijing. However, US President Donald Trump’s ...

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Pound euro exchange rate holds steady as ‘golden decade’ of German economic growth ends

Pound euro exchange rate holds steady as ‘golden decade’ of German economic growth ends Euro traders have remained cautious, however, after yesterday saw the publication of Germany’s growth report, which showed its slowest rate of growth since 2013. Holger Schmieding, an analyst at Barenberg Bank, was pessimistic about the Eurozone’s powerhouse economy, commenting: “The golden decade Germany has seen for ...

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Iran to fund cyber attacks with cryptocurrency

Iran to fund cyber attacks with cryptocurrency Mr Fanusie, now adjunct senior fellow at the Center For A New American Security think tank, said: “Because cyberattacks are a form of asymmetric warfare with plausible deniability, it makes sense that Iran would use them to strike back. “Crypto could play a role in that.” He says Iran is likely to use cryptocurrency to ...

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North Korean hacker group Lazarus targets British crypto users

North Korean hacker group Lazarus targets British crypto users Now researchers from cybercrime experts Kaspersky Labs say Lazarus is launching a new wave of hacks to steal cryptocurrency to fund the brutal dictatorship of Kim Jong-un. “Victims were recorded in the UK, Poland, Russia and China,” the Kaspersky report states. “Moreover, we were able to confirm that several of the victims ...

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Pound US dollar exchange rate sinks as the Bank of England hints at interest rate cut

Pound US dollar exchange rate sinks as the Bank of England hints at interest rate cut Mr Carney was notably dovish in today’s speech, saying: “There are downside risks from global growth and the possibility that uncertainties over future trading relationships could remain entrenched. With the relatively limited space to cut Bank Rate, if evidence builds that the weakness in activity ...

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Pound euro exchange rate tumbles on Mark Carney’s dovish comments

Pound euro exchange rate tumbles on Mark Carney’s dovish comments Speaking at a conference in London this morning, Mr Carney suggested the BoE could respond ‘promptly’ if weakness in the UK economy persists for much longer, a strong hint that interest rates could be cut in the near-term. While the BoE forecasts that the UK economy will recover in 2020, the ...

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Bitcoin traders admit to cashing in on Iran conflict

Bitcoin traders admit to cashing in on Iran conflict The price of gold and oil took a sudden jump within hours of the US airstrike on Iranian military leader Qasem Soleimani in Baghdad on January 3. The drone attack also appeared to drive the value of BTC upwards from what had been a drawn-out slump to below $7,000. By the time ...

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John Lewis chief SACKED: Department store’s staff bonus at risk after Christmas sales blow

John Lewis chief SACKED: Department store’s staff bonus at risk after Christmas sales blow Paula Nickolds, who has been with the employee-owned retailer since 1994, has left just three months after the managing director of Waitress quit following a major restructuring. Her departure comes after John Lewis reported a two percent slump in like-for-like gross sales for the seven weeks ...

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Marks and Spencer profit warning: M&S revenue plunge as high street suffers ‘worst year’

Marks and Spencer profit warning: M&S revenue plunge as high street suffers ‘worst year’ The popular retailer has reported a 0.6 percent fall in UK revenue for the third quarter of its financial year, predominantly driven by a 3.7 percent slump in its clothing and home sales. M&S clothes stores struggled again, with sales in the clothing and home division ...

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Cryptocurrency latest: Brits warned over potential crypto scam

Cryptocurrency latest: Brits warned over potential crypto scam The Financial Conduct Authority put out a warning that Pro-options – which offers ‘profitable investment in Bitcoin’ – may be an investment scam. The Pro-options website – riddled with spelling and grammar errors – features enthusiastic praise from so-called investors working for fictional firms like Skynet, which featured in the Terminator films, ...

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