Revolut secured FCA approval on May 14 to offer private wealth services and leveraged products in the UK. Victoria Laffey, head of operations at Revolut Trading, said the new permissions are “the missing piece allowing us to unite investment, advisory…
The post Market Crash Fears Rise as UK 30-Year Bond Yield Surges appeared on BitcoinEthereumNews.com.
Bitcoin fell below $80K as rising bond yields and equities trigger risk-off moves. UK 30-year yields hit 5.85%, signaling global sovereign debt market stress concerns. US equities lost $1T while Bitcoin and crypto markets followed the broad selloff trend. Bitcoin slid below $80,000 as investors reacted to rising global bond yields and another sharp selloff across US equities. Market analysts warned that stress in sovereign debt markets could trigger wider financial instability. Consequently, traders rushed toward defensive positioning while risk assets lost momentum across major exchanges. Data shared by The Kobeissi Letter showed that the UK’s 30-year government bond yield climbed to 5.85%. That marks its highest level since March 1998. Besides, long-term borrowing costs also surged across several developed economies. Investors now fear that stubborn inflation could force central ban
A parliamentary ethics probe is now underway and focused on Nigel Farage, leader of the UK’s Reform Party, after reports surfaced that the government official bought a $1.8 million property weeks prior to entering office — a purchase made possible, at least in part, by a $6.7 million personal gift from a crypto billionaire. Related […]
The post British Pound Slides As UK Political Turmoil And Iran Tensions Boost Dollar Demand appeared on BitcoinEthereumNews.com.
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Home Forex News British Pound Slides as UK Political Turmoil and Iran Tensions Boost Dollar Demand
Source: https://bitcoinworld.co.in/british-pound-slides-uk-turmoil-iran-tensions-dollar-demand/
The UK’s competition regulator has launched a broad antitrust investigation into Microsoft’s business software ecosystem, opening a new front in growing regulatory scrutiny of how cloud platforms, productivity software, and embedded AI capabilities may affect competition in enterprise technology markets.
UK’s Competition and Markets Authority (CMA) said in a statement that it had opened a Strategic Market Status (SMS) investigation into Microsoft’s business software operations under the country’s new digital markets regime.
The regulator said it will assess whether Microsoft has “substantial and entrenched market power” and a “position of strategic significance” in business software markets.
“The investigation will assess whether Microsoft is using its position in business software to limit competition in cloud services, cybersecurity, communications, and AI,” the regulator said in a statement.
The case is the fourth strategic market status (SMS) investigation the regulator has opened
The post BofA Exits GBP Trade As UK Political Uncertainty Deepens Sterling Selloff appeared on BitcoinEthereumNews.com.
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Home Forex News BofA Exits GBP Trade as UK Political Uncertainty Deepens Sterling Selloff
Source: https://bitcoinworld.co.in/bofa-exits-gbp-trade-uk-political-uncertainty/
The post Euro rallies above 0.8700 against the British Pound as UK political turmoil worsens appeared on BitcoinEthereumNews.com.
The Euro (EUR) rallies for the second consecutive day against an ailing British Pound (GBP) on Friday, crushed by growing political uncertainty in the UK. The cross reached fresh five-week highs above 0.8720 earlier on the day and is heading for a 0.75% weekly appreciation, its best performance in the last eight months. Traders are selling the Pound across the board, following the resignation of the UK Health Secretary, Wes Streeting, the last of a series of resignations, following the disastrous Labour results at last week’s local elections. Streeting affirmed on Thursday that he “lost confidence” in UK Prime Minister Keir Starmer, which has increased his isolation. Starmer has pledged to remain in charge, but his position grows weaker by the minute. Calls to resign have been mounting, and some Labour lawmakers are moving to replace him, with the Mayor of G
The post Pound Sterling slips through 1.35 as the Labour crisis tops a UK GDP beat appeared on BitcoinEthereumNews.com.
GBP/USD fell 0.9% on Thursday, breaking below 1.3500 in a sharp staircase decline from session highs to a low close to 1.3395. The move extended a multi-week downtrend from the early-March peak, with bearish momentum building through the European afternoon. The daily candle closed near session lows. The Pound Sterling came under heavy pressure on Thursday as the political crisis around Prime Minister Keir Starmer deepened. After Labour’s heavy losses in the 7 May local elections, four cabinet ministers resigned this week, including Safeguarding Minister Jess Phillips, and close to 100 Labour MPs publicly called on Starmer to resign or set a departure timeline. Health Secretary Wes Streeting was reported to be weighing a leadership challenge, although Starmer remained defiant after 111 MPs signed a statement of support. Stronger UK data failed to lift the currency: Q1
