The US government has requested an independent investigation into FTX’s bankruptcy to investigate fraud, dishonesty, and incompetence claims at the failing cryptocurrency exchange.
Here’s what happened in the city of London this week
Hedge funds seek to lockdown new employees, while banks scoff at the bonus cap.
Paris surpasses London to become Europe’s biggest stock market
Paris leads despite British stocks being hit by recession fears, mini-Budget backlash and worries about Paris
Bitcoin to plummet 80pc, as JP Morgan warns about a ‘cascade of crypto margin calls’
JP Morgan warned that Bitcoin could lose 80% of its value due to a “cascade” of margin calls in the aftermath of the crisis at FTX crypto exchange.
Bank of England is expected to deliver its biggest rate increase in 33 years today
Analysts predict a 0.75 percentage-point increase, possibly the largest hike in base rate since 1989.
Valereum PLC (AQSE:VLRM) Approved to Acquire Gibraltar Stock Exchange
Valereum Plc is pleased to announce that it has received consent from the Gibraltar Financial Services Commission (“GFSC”) to complete the acquisition of the Gibraltar Stock Exchange (“GSX”).
Bank of England to hike by 75 bps on November 3rd or may go higher
Reuters polled economists over the past week to determine whether the Bank of England will increase interest rates by 75 basis points on November the third.
City of London Tries to Divert Tax Raid on Banks, Chancellor Jeremy Hunt’s claim that “nothing is off the table”
As the UK seeks to plug its funding gap, there are growing concerns in London regarding higher taxes being imposed upon banks.
Hargreaves Lansdown hit by a multi-million pound lawsuit
Hargreaves Lansdown was sued by thousands of investors in a multimillion-pound suit for his promotion of Neil Woodford’s equity income fund.
China Arrests Hundreds of Fraudsters in China’s Biggest Bank Fraud Probe
China detained hundreds of individuals accused of bank fraud in China. In an effort to preserve social stability before the two-decade Communist Party Congress, China began repaying more victims of
Not one major UK bank pays more for savings despite biggest rate rise in 27 years
Nine out of the 10 major banks and building societies continue to pay less than 0.5% in savers’ interest.