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According to the latest research by the audit and consulting company EY, 61% of investors consider London the most profi...
11/08/2022

According to the latest research by the audit and consulting company EY, 61% of investors consider London the most profitable location for foreign direct investment (FDI) in financial services. In 2021, 39 FDI projects were implemented in the British capital, in 2020 - 38 projects. That's cumulatively less than 86 projects in 2018, but overall FDI projects are declining across Europe, says Anna Anthony, EY Financial Services Managing Partner in the UK.

British startups are suspending recruitment, according to a study by job search service Otta. Over the past three months...
11/08/2022

British startups are suspending recruitment, according to a study by job search service Otta. Over the past three months, the number of vacancies for IT specialists has decreased by 20%. Amid global economic uncertainty, which has already caused tech stocks to plummet, investors have started to hold onto money and are considering new business ideas with great caution, and startup founders are not at risk of expanding without additional funding.

Gemstones never go out of fashion: they are an enduring symbol of wealth and status, especially royalty. For example, th...
11/08/2022

Gemstones never go out of fashion: they are an enduring symbol of wealth and status, especially royalty. For example, the collection of jewels of the British crown (The Crown Jewels of the United Kingdom), 140 items of which are decorated with 23,578 precious stones, is officially recognized as priceless, while each of the stones has its own estimated value. Thus, the "Big Star of Africa", or "Cullinan I", the world's largest diamond (530 carats), which adorns the royal scepter with a cross, is estimated at 525 million dollars.

On June 30 in the UK, the FTSE 100 index fell 1.96%, ending the worst month since the start of the coronavirus pandemic....
11/08/2022

On June 30 in the UK, the FTSE 100 index fell 1.96%, ending the worst month since the start of the coronavirus pandemic. All stocks closed lower amid fears that the country will face the deepest recession in Europe. American Wall Street has also taken a heavy hit, with the S&P 500 down 20% since the start of the year, its worst first-half performance since 1970 and its worst two-quarter performance since the 2008 financial crisis. In June alone, the S&P 500 fell 0.9% and the NASDAQ shed 1.3%. The German DAX index fell by 20% in the first half of the year, and the French CAC 40 - by 18%, writes the Wall Street Journal.

The English financial magazine The Banker has published its annual ranking of the top 1000 largest banks in the world. T...
11/08/2022

The English financial magazine The Banker has published its annual ranking of the top 1000 largest banks in the world. This is one of the most influential rankings in the global financial industry. When compiling the list, experts are guided by the Tier 1 Capital indicator - Tier 1 capital, which includes authorized capital and retained earnings.

The magazine's experts state that for the first time since 2015, British banks managed to overtake their French competitors. For 2021, the combined profit of UK banks before tax was 55.1 billion dollars (45.6 billion pounds), banks in France - 54.8 billion dollars (45.3 billion pounds).

One in 10 UK shoppers intend to switch to cash, and reduce or eliminate their use of cards or contactless smartphone pay...
11/08/2022

One in 10 UK shoppers intend to switch to cash, and reduce or eliminate their use of cards or contactless smartphone payments. The Telegraph writes about this, citing a survey by the Link ATM network. Respondents believe that this will allow them to control daily expenses and optimize the budget against the backdrop of rising cost of living.

British courts may give the right to award compensation in bitcoins, writes The Telegraph.The Law Commission for England...
11/08/2022

British courts may give the right to award compensation in bitcoins, writes The Telegraph.

The Law Commission for England and Wales believes that local law requires a new category of ownership to refer to crypto assets, including digital currencies (such as bitcoin) and non-fungible tokens (NFTs). “Due to their uniqueness, many digital assets do not fit into existing categories or definitions of private property law,” the commission said in a statement.

Inflation and higher taxes will lead to the fact that 20% of British households will be left without savings (that's abo...
11/08/2022

Inflation and higher taxes will lead to the fact that 20% of British households will be left without savings (that's about 5.3 million people), writes The Times. This was stated in its latest forecast by the National Institute for Economic and Social Research (NIESR). Its experts noted that about 7 million families will live paycheck to paycheck, and for 1.2 million people, electricity bills will exceed disposable income by next year.

Fintech startup Revolut has expanded the list of supported cryptocurrencies by 22 positions, writes City A.M. New offeri...
11/08/2022

Fintech startup Revolut has expanded the list of supported cryptocurrencies by 22 positions, writes City A.M. New offerings include Metaverse APE, DeFi REQ, ETC, CLV, FORTH, AVAX tokens. Now the application works with more than 80 cryptocurrencies. “We have expanded the offering so that people have access to new tools and services being created in the crypto space,” said Emil Urmanshin, general crypto manager of Revolut.

The fintech startup offers a range of financial products through its app, and cryptocurrencies are becoming more and more popular there. The number of UK customers buying tokens grew by 6% and the number of transactions increased by 20% compared to the same period in 2021.

In early August, the Bank of England went on the most dramatic increase in the base rate over the past 27 years, raising...
11/08/2022

In early August, the Bank of England went on the most dramatic increase in the base rate over the past 27 years, raising it immediately by 0.5 percentage points - from 1.25 to 1.75%. This decision was due to rising inflation, which exceeded 9% in June, and threatens to rise to 13% by the end of 2022.

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