By Huw Jones LONDON (Reuters) – Britain’s role as a leading financial centre is at stake unless it comes up with a roadmap for digital representations of stocks, bonds, loans and real estate, trade association UK Finance said in a report on Thursday. So-called tokenised assets can be exchanged on distributed ledger technology (DLT), also…
By Steve Gorman LOS ANGELES (Reuters) – Thousands of Los Angeles-area hotel staffers returned to work on Wednesday from a three-day strike without a contract, but union leaders threatened further walkouts to come as they push for improved wages, benefits and working conditions. Chief among their demands are pay hikes that would allow the union’s…
By Lewis Jackson SYDNEY (Reuters) -PwC Australia provided Google confidential information about the start date of a new tax law leaked from Australian government tax briefings, according to two sources familiar with the matter. This is the first time a company has been directly linked to the national scandal involving the “big four” accounting firm…
By Shariq Khan BENGALURU (Reuters) – U.S. crude oil gained about 3% on Wednesday, narrowing the price gap with global benchmark Brent in a post-holiday response to supply cuts announced on Monday by Saudi Arabia and Russia. U.S. West Texas Intermediate crude (WTI) rose $2 from Monday’s close, or 2.9%, to settle at $71.79 a…
LONDON (Reuters) – Cyber insurance rates dropped around 10% in June compared with a year earlier, reversing recent sharp rate rises, as claims proved smaller than expected, broker Howden said in a report on Wednesday. Cyber insurance rates more than doubled in 2021 during the COVID-19 pandemic, driven by a rise in so-called ransomware attacks,…
By Huw Jones LONDON (Reuters) -Britain’s financial watchdog proposed a real-time record of stock and bond prices on Wednesday to help investors spot the best deals and improve the capital markets’ attraction. It is the latest in a welter of reforms, many contained in a new law approved last week, to bolster the City of…
By Andrew MacAskill LONDON (Reuters) – Two Hong Kong activists living in Britain, who were subjects of arrest warrants for alleged national security offences, said on Wednesday they will continue to highlight China’s crackdown on freedoms despite fears for their safety. Hong Kong police issued arrest warrants for eight overseas-based activists on Monday, accusing them…
By Amruta Khandekar and Shreyashi Sanyal (Reuters) -Eurozone blue-chip stocks fell on Wednesday as tech shares were pressured ahead of U.S. Federal Reserve’s minutes from the June policy meeting, while weak data from the single-currency bloc and China stoked fears of a sharp hit to global growth. The EURO STOXX 50 index closed 0.9% lower,…
By Nick Carey LONDON (Reuters) -A lack of data on electric vehicle (EV) batteries continues to challenge insurers who are forced to scrap EVs after mild accidents, potentially undermining EV adoption, Thatcham Research said on Wednesday. The British automotive risk intelligence company cited a “concerning lack of affordable or available repair solutions and post-accident diagnostics”…
By David Milliken LONDON (Reuters) – Britain sold a government bond at auction on Wednesday that will pay investors an annual return of 5.668% – the highest yield of any gilt sold since 2007, as markets demand extra returns in anticipation of further Bank of England rate rises. The United Kingdom Debt Management Office sold…
