Bitcoin price CRASH: BTC falls ‘nine percent’ to LOWEST LEVEL in months | City & Business | Finance

The digital currency fell to $6,081, breaking below $6,400 for the first time in about a week and reaching its lowest level since February 6, according to CoinDesk. Japan’s largest crypto exchange, bitFlyer, was given an order by Japan’s Financial Services Agency to suspend the creation of new accounts while it makes improvements, especially in its measures to stop money laundering and terrorist financing. bitFlyer said in a statement: “Our management and all employees are united in our understanding of how serious these issues are, as well as how serious…

Read More

Merkel’s nightmare as German car giants become first victims of Trump trade war | City & Business | Finance

Daimler, which owns Mercedes, has plunged 4.2 percent on the stock market this week, BMW has shed 3 per cent and Volkswagen is down 3 per cent. And BMW warned of needing “strategic options” as trade tensions intensify. Daimler said in a statement: “Fewer-than-expected SUV sales and higher-than-expected costs — not completely passed on to the customers — must be assumed because of increased import tariffs for US vehicles into the Chinese market.” Harald Hendrikse, analyst at Morgan Stanley said “Daimler won’t be alone”. The EU has today retaliated to…

Read More

Bitcoin price LIVE: BTC ‘exhausted’ at $6k – ‘bottoming process’ could sink crypto | City & Business | Finance

GETTY Bitcoin price live: Is BTC ‘exhausted’ 8.00am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is up slightly on the day so far at $6,761, with Ethereum at $542 and Ripple at $0.54. As prices flatten out, one expert suggested today that bitcoin’s decrease in volatility is a signal that the bottoming process has already begun — but it may still have a way to fall. Speaking to CNBC, Bill Baruch, President of Blue Line…

Read More

Bitcoin price LIVE: BTC to fall after massive $30 million HACK heist in South Korea | City & Business | Finance

8.00am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is currently price at $6,618, with Ethereum at $523 and Ripple at $0.53. Hack attack South Korean exchange Bithumb said in a notice on its website on Wednesday that it had stopped all trading after ascertaining “some cryptocurrencies worth about 35 billion won were seized between late yesterday and early morning today.” The exchange, thas now moved “all clients’ assets in safe cold wallets,” which operate on…

Read More

Stock market SLUMP: European Chinese markets CRUMBLE as Trump trade war fears ROCKET | City & Business | Finance

Stock markets across the world have dipped sharply lower as investors increasingly fear Donald Trump is poised to start a trade war by slapping tariffs on a number of products the US imports in significant volumes. David Madden, market analyst at CMC Market told the BBC: ”Tensions between the US and China are escalating, and we are not any closer to an agreement being reached. With neither side willing to back down, investors are caught in the middle.” Art Hogan, chief market strategist at B. Riley FBR in New York,…

Read More

Bitcoin price: Crypto boss says bitcoin will go WAY beyond record high | City & Business | Finance

Product Designer and Partner at Atlas Neue, Cassius Kiani, said bitcoin could soon start to “take off”. Speaking to Express.co.uk from the CryptoCompare & MJAC London Blockchain Summit, Mr Kiani said: “I think it will go way beyond this year and the reason I think that is because if you look at the adoption of blockchain technology in 2018 it’s much higher, there is more ICOs than ever this year – they are raising more money than ever, there is more media coverage. “Fundamentally, if you look at market graphs…

Read More

House of Fraser staff await fate – Over 17,000 jobs in the balance as firm restructures | City & Business | Finance

The CVA will allow the retailer to axe unprofitable stores and slash the rent it pays on a number of others. However, a number of landlords intend to vote against the CVA, as they feel it unfairly inflicts losses on them, while sparing all of the other creditors. The fact that House of Fraser’s owner Nanjing Cenbest will get £70million from selling a 51 per cent stake in the firm to Hamley’s owner C.banner as part of the restructuring has particularly angered them. Accountancy giant KPMG is advising House of…

Read More

Tesco hits 4-year high after Booker sales lift | City & Business | Finance

Sales at Booker, included in the group for the first time, jumped 14.3 per cent on the back of new business wins. Booker has been using space in some Tesco warehouses to speed up deliveries to customers, while Tesco has begun selling dozens of the cash and carry group’s best-selling items in some stores as well as launching Chef Central professional catering units in two outlets. Tesco’s like-for-like UK sales grew by 2.1 per cent, a fall from the 2.3 per cent growth over the previous quarter as trading was…

Read More

Pound euro exchange rate: EUR at €1.142 as investors remain timid after ECB meeting | City & Business | Finance

Euro investors remained browbeaten on Friday morning, with yesterday’s run of dovish comments from European Central Bank (ECB) President Mario Draghi leaving the single currency on a poor footing. Whilst the central bank did announce that it will be tapering its quantitative easing scheme after it expires in September, Mr Draghi also said that a rate rise is not likely until after summer 2019. He added that uncertainty remains due to worsening global trade relations.  Mr Draghi said: “Uncertainties related to global factors, including the threat of increased protectionism, have…

Read More

Pound US dollar exchange rate: GBP climbs as UK retail sales beat expectations | City & Business | Finance

The pound saw a 0.40 per cent climb against the US dollar this morning, with Sterling bulls pleased to see a surge in the latest raft of UK ecostats. According to the Office for National Statistics (ONS), retail sales in the UK increased by 4.4 per cent year-on-year, up from the previous period’s rise of 1.4 per cent and almost double the forecast of 2.5 per cent. The ONS attributed this rise to two important factors. This was the good weather in May and the Royal Wedding, but analysts have…

Read More