Facebook to launch “Libra” digital coin for 2.4billion online users

Facebook to launch digital coin for 2.4billion online users Facebook said it would launch its own digital coin next year, allowing it 2.4 billion users to make payments over the network. Facebook will allow users to change dollars, pounds and other international currencies into crytocurrency called Libra. Facebook says the coins can then be used…

Help to. Buy significant market risk

Help to Buy was introduced by David Cameron’s coalition government in 2013, with the aim of helping more people to get on the property ladder, instead  63 per cent of people using the Government’s Help to Buy scheme could have purchased their properties without it, and 19  per cent were not first time buyers. According…

Bitcoin billionaires

Bitcoin Billionaires is a tale of Winklevoss twins and their outrageous venture into the chaotic world of cryptocurrency bitcoin exploring the techno-ideological experiments and financial manias. Ben Mezrich, the New York Times bestselling author of the Accidental Billionaires and Bringing Down the House comes his latest Bitcoin Billionaires.  Harvard educated identical twins Cameron and Tyler…

Metro Bank plans to sell over £1bn worth of loans

Metro Bank plans to sell over £1bn worth of loans amid misreporting scandal that caused its share price to plummet and force it into a rights issue. At the start of the year, regulators discovered  that Metro had misclassified the risk of hundreds of millions of pounds of commercial property and buy-to-let  loans. Reclassifying  the…

Tencent and Alibaba granted “milestone” licences

Tencent and Alibaba, China’s biggest technology groups  have been granted milestone licences  by the Hong Kong Monetary Authority to  launch digital banks in Hong Kong threatening traditional HSBC and Standard Chartered banks.  Xiaomi the world’s fourth largest smartpone maker and Ping An the world’s largest insurer,  also was included in what city’s banking regulator’s  called …

Nirav Modi bail denied again

Nirav  Modi’s barrister Clare Montgomery state in UK court,  that ” he has a pet dog to prove his ties to UK , as Modi got a dog after his son, who studied in a London school, went to US. None of  these actions are emblematic of someone setting out to flee the country”. Chief…

Barclays discussed Russia’s £500m rescue offer

According to the minutes read to a jury yesterday at London’s Southwark Crown Court, part of a landmark fraud trial, Barclay’s board was told of interest from the Russian government in taking a stake, with a £500m emergency capital as the bank battered to avoid a UK tax-payer rescue at the height of the financial…

“King of good times”  to be extradited

Indian Tycoon Vijay Mallya, who was behind the collapsed Kingfisher Airlines and also behind India’s largest alcoholic drinks empire, is to face charges of fraud and money laundering worth up to £1bn in India and Sajid Javid, the Home Secretary, has approved his extradition finally. He is alleged to have diverted funds from bank loans…

Super yacht Equanimity up for sale

Malaysia has started in Hong Kong this week marketing and auctioning the $130m 300 feet yacht Equanimity, which features a helipad, gym, beach club. Sauna and beauty salon once owned by Jho Low, the financier alleged to be the architect of the 1 MDB scandal as part of their efforts to recover money. Lim Guann…