Thursday, October 21News That Matters
Shadow

Tag: investment

Bitcoin hits new high as Tesla reveals $1.5bn investment

Bitcoin hits new high as Tesla reveals $1.5bn investment

Business
Bitcoin has jumped more than 10% to a record high after Tesla said it had invested $ 1.5bn (£1.09bn) in the cryptocurrency and would soon start accepting it as a form of payment for its cars and other products.The disclosure of the investment, in a regulatory filing, sent Bitcoin up by 13% to over $ 43,000 in Monday trading. At such levels, one Bitcoin would be enough to buy one of the electric car maker's lower end vehicles in the US, where prices start at less than $ 40,000. Image: Elon Musk has added a "#bitcoin" tag to his Twitter profile It comes 10 days after Tesla chief executive Elon Musk gave a boost to the electronic currency's price by adding a "#bitcoin" tag to his Twitter profile page.He removed the tag a few days later b...

China scores an EU investment deal before Biden takes office — and it wants to do more

Finance
European Commission President Ursula von der Leyen, European Council President Charles Michel, German Chancellor Angela Merkel, French President Emmanuel Macron and Chinese President Xi Jinping are seen on a screen during a video conference to approve an investment pact between China and the European Union on December 30, 2020.Johanna Geron | AFP | Getty ImagesBEIJING —  China wrapped negotiations with the European Union on an important investment deal and talked up hopes for more, less than a month before U.S. President-elect Joe Biden is set to take office.China and the European Commission announced Wednesday that the two sides finished talks around a "Comprehensive Agreement on Investment" that gives each region's businesses more access to the other's market.Both sides rushed to ge...
Bank of England governor apologises after FCA failings over £237m investment scandal

Bank of England governor apologises after FCA failings over £237m investment scandal

Business
Bank of England governor Andrew Bailey has apologised after an independent report severely criticised the City regulator that he led at the time of a £237m investment scandal.The report found the Financial Conduct Authority (FCA) was "wholly deficient" in the oversight of minibond provider London Capital & Finance (LCF). Former Court of Appeal judge Dame Elizabeth Gloster found there had been "significant gaps and weaknesses" in the FCA's practices and policies. Image: The FCA's oversight was "wholly deficient", a damning report found LCF's demise in early 2019 left 11,600 investors in mini-bonds facing losses of up to £237m.Mr Bailey was chief executive of the FCA, which regulates thousands of financial firms, from 2016 to 2020 b...
Trump bans US investment in Chinese military-linked firms

Trump bans US investment in Chinese military-linked firms

Technology
U.S. President Donald Trump has stepped up a conflict with China over security and technology by issuing an order barring Americans from investing in companies that U.S. officials say are owned or controlled by the Chinese militaryBy JOE McDONALD AP Business WriterNovember 13, 2020, 10:09 AM• 3 min readShare to FacebookShare to TwitterEmail this articleBEIJING -- U.S. President Donald Trump has stepped up a conflict with China over security and technology by barring Americans from investing in companies that U.S. officials say are owned or controlled by the Chinese military.The Chinese government accused Washington of misusing national security as an excuse to hamper competition and warned Friday that Trump's order would hurt U.S. and other investors worldwide.The impact of Thursday's orde...

SoftBank makes its first e-scooter bet, leading a $250 million investment in Germany’s Tier

Finance
A woman holds her smartphone with the app of the electric scooter sharing provider Tier Mobility next to an e-scooter to use it. Hauke-Christian Dittrich/dpa (Photo by Hauke-Christian Dittrich/picture alliance via Getty Images)Hauke-Christian Dittrich | picture alliance via Getty ImagesLONDON — German electric scooter rental firm Tier announced Tuesday that it's raised $ 250 million in a funding round led by SoftBank's second Vision Fund.It's the first time the Japanese tech investor has made a bet on the nascent scooter-sharing space and comes as a number of countries in Europe re-enter lockdowns to slow a resurgence in coronavirus cases. E-scooter companies were heavily hit by the first round of lockdowns, with a number of providers slashing jobs to survive.For its part, Tier says it ha...