Argo to do LSE’s frist cryptocurrency listing

Agro, the Canadian firm, won approval to go public from the UK Listing Authority two weeks ago, wants to “ democratise” the crypto-mining process by which new virtual coins are created by renting out its specialist computing capacity for a monthly fee.  The listing could be controversial as crypto-currencies have been linked to organised crime…

Dollar hits new high

The Dollar climbed new highs for the year against a basket of major currencies yesterday as the Federal Reserve’s policy making open market committee gathered in Washington for today’s decision on interest rates., although the Fed’s not expected to tighten monetary policy. The recent rising wages and inflation has pushed the dollar higher as the…

Pound Sterling all-time high since Brexit vote

The Pound Sterling has climbed to its highest level since Britain’s vote to leave the European Union in June 2016. Sterling also has been boosted by expectations that the Bank of England will raise the interest rates, in the wake of Dollar weakness after uncertainty about US trade policy. The Pound, which sank to $1.2068…

Sterling hits the highest level since Brexit

Sterling has leaped to its highest level in past 19 months against the US dollar since the Brexit vote, to $1.37  highest level since 254 June 2016. Before the result of the referendum, the Pound had been trading at $1.50. Sterling is benefiting from the dollar weakness and the growing euro strength rather any pound…

Scott: Forex trader faces extradition

Stuart Scott (45), HSBC’s former top currency trader can be extradited to face fraud charges in New York, a UK court has ruled only days after his ex-colleague was convicted on forex-ridding charges in the US. The Westminster magistrates court did not deliberate on whether Mr. Stuart of Radlett in Hertfordshire, is guilty or not…

Super-rich clients of Bermuda-based offshore companies hacked.

  The leak exposes some of the Britain’s wealthiest people, who are instructing lawyers and public relation companies in an effort to safeguard their reputations. The disclosure threatens to call into question the status of several British Overseas Territories which offer tax benefits to the wealthy elite. If this alleged illicit activities or conduct are…

UK banker found guilty of $3.5bn currency deal fraud

Mark Johnson, a former HSBC bank’s head of global cash foreign exchange trading,  has been found guilty of defrauding a client on nine counts, in a $3.5bn currency deal,  and face up to 20 years in prison, according to a spokesman for US prosecutors. But the British citizen was found not guilty on one other…

Money mesmerises and mystifies

The world of money is making people go round, as households and organisations have to deal with everchanging economies and payment systems like bitcoin and Applepay. You may ask what is money and how dow we make any sense of it? Three eminent Sociologists Nina Bandelj, Frederick Wherry and Viviana Zelizer, edited Money Talks, and…

Cash Crunch as Black money are converted to worthless pieces of paper

  Indian Prime Minister Narendra Modi made good on his election pledge with a shock declaration on Tuesday that so-called high-value currency notes  denominations  of Rs 500 and Rs 1000 would not be legal tender as of midnight that day.   This draconian move affected  £177bn ($223bn) worth of notes, an 86 per cent of rupees…

UK economy now sixth in the world

In The Daily Telegraph  Lord Livingston wrote UK’s fall from the fifth biggest economy in the world to the sixth place is unacceptable in the long term. UK is now behind US, China, Japan, Germany and France in US Dollar terms. UK annual GDP of about £1.8 trillion is worth few dollars dropping down on…