Lawrence Gash

ICO gone wrong – start-up ordered to return $25.5m to investors

Jun 01 2020 @ 10:53
SEC finds BitClave responsible for selling unregistered securities in its initial coin offering The US Securities and Exchange Commission (SEC) has brought charges against BitClave for “conducting an unregistered initial coin offering (ICO) of digital asset securities” and demanded that the crypto start-up reimburse the 9,500 investors who took part in the sale. Although the […]
 

Glencore chairman defends miner’s climate strategy

Jun 01 2020 @ 10:51
The chairman of Glencore (LSE: GLEN) and Genel Energy (LSE: GENL) has defended his firm’s current strategy to reduce greenhouse gas emissions following intense criticism from climate activists. Tony Hayward, who rose to international prominence as the CEO of BP during the Deepwater Horizon oil spill, rebuffed criticism that miners such as Glencore are not doing enough […]
 

US economy contracted by 5 per cent in Q1

May 29 2020 @ 10:58
GDP is revised and Covid-19 job losses pass 40 million The US economy suffered an even worse contraction in the first quarter of 2020 than previously thought. The Commerce Department announced on Thursday that the gross domestic product (GDP) of the world’s largest economy actually fell at an annualised rate of 5 per cent in […]
 

Domino’s capitalises on lockdown takeaway demand

May 28 2020 @ 11:11
Both Domino’s and Papa John’s report strong US sales growth Domino’s Pizza (DPZ) has announced that its same-store sales rose by 14 per cent during the first two months of the second quarter, with demand for takeaway food bolstered by the Covid-19 lockdown. CEO Ritch Allison said: “We are seeing a tailwind as consumer behaviour […]
 

Greggs shares make big gains on reopening news

May 28 2020 @ 11:09
Shares in Britain’s favourite baker have surged more than 3 per cent after it announced plans to reopen around one third of its shops Greggs (GRG) has closed Tuesday trading up 3.15 per cent at 1,766 pence, after it announced plans to reopen for business. Britain’s favourite mass-market baker has been forced to close its doors […]
 

Goldman Sachs: Cryptocurrencies including Bitcoin are not an asset class

May 28 2020 @ 11:08
Leading US bank outlines its crypto scepticism Goldman Sachs, one of the largest investment banks in the world, will hold a conference call with investors on Thursday on “US Economic Outlook & Implications of Current Policies for Inflation, Gold and Bitcoin.” Even before the call has started, let alone finished, the bank’s take on digital […]
 

Russia mulls oil strategy

May 28 2020 @ 11:04
The Russian government has given approval to a plan which would prepare a restoration of oil output for the resource-rich country once the current production limits approved by OPEC+ expire in 2022. According to the office of the First Deputy Prime Minister Andrey Belousov, a government commission has agreed to support proposals first put forward […]
 

Tencent announces $70bn tech investment

May 26 2020 @ 10:49
Tencent Holdings has announced its intention to invest $70bn (£57bn, €64bn) in new technology infrastructure over the next five years, the latest indication of the sheer wealth and growing influence of the Chinese tech giant. The developer of WeChat, the popular Chinese messaging app, Tencent is best-known beyond the world’s second-largest economy as the parent company […]
 

UK sells its first ever negative-yielding government bond

May 21 2020 @ 10:58
Debt Management Office reveals £3.8bn sale of three-year gilts at a yield of minus -0.003 per cent The United Kingdom borrowed at a negative rate of interest for the first time in its history on Wednesday, in the latest indication of the marked economic impact of the Covid-19 crisis. Britain’s Debt Management Office revealed that […]
 

Grayscale now owns almost 2 per cent of all Bitcoin in circulation

May 21 2020 @ 10:54
Crypto investment firm announces record $3.8bn in AUM Grayscale investments, the largest crypto asset manager in the world, has announced that its assets under management (AUM) have swelled to an all-time high. The firm’s managing director Michael Sonnenshein heralded the fact that, as of Tuesday, Grayscale’s AUM total $3.8bn (£3.1bn, €3.4bn). The company’s three most […]
 
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