5 Things You Need To Know, Today, on Friday 28th October 2022
Episode 988, Oct 28, 2022, 06:08 AM
5 Things You Need To Know, Today, on Friday 28th October 2022
5. Britain would have the power to regulate all cryptoassets under a proposal the UK financial services minister has added to a draft law before parliament, that will almost certainly pass.
Andrew Griffith, re-appointed as City Minister on Thursday by Rishi Sunak, put forth the amendment to the financial services and markets bill, which parliament has begun approving.
(Click here to read more)
4. Apple & Amazon sales are being hit by the weakening global economy, the tech giants have warned, adding to fears about their upcoming profits.
Amazon shares tumbled more than 15% after the US stock market closed, as the firm forecast far weaker sales for the festive season than expected.
(Click here to read more)
3. Shares in Meta, which owns Facebook and Instagram, have plunged more than 20% after a downbeat set of results from the tech giant as investor doubt Mark Zuckerberg's vision for the future growth of the meteverse, and revenues and profits decline.
Meta's sales shrank by 4% in the three months ending in September to $27.7bn (£24bn), while profits halved.
(Click here to read more)
2. The world's richest man, Elon Musk, has completed his $44bn (£38.1bn) takeover of Twitter, according to US media and an investor in the firm.
He tweeted "the bird is freed," in an apparent reference to the deal closing.
(Click here to read more)
1. Rishi Sunak and Chancellor Jeremy Hunt are exploring tax increases and public spending cuts worth up to 50 billion pounds ($57.84 billion) a year to fill a hole in public finances.
Ministers are hoping the measures will not have to be implemented in full in the fiscal statement to be published on November 17th but officials want the government to use the 50 billion pound estimate after being given weak economic forecasts by the Office for Budget Responsibility.
(Click here to read more)
5. Britain would have the power to regulate all cryptoassets under a proposal the UK financial services minister has added to a draft law before parliament, that will almost certainly pass.
Andrew Griffith, re-appointed as City Minister on Thursday by Rishi Sunak, put forth the amendment to the financial services and markets bill, which parliament has begun approving.
(Click here to read more)
4. Apple & Amazon sales are being hit by the weakening global economy, the tech giants have warned, adding to fears about their upcoming profits.
Amazon shares tumbled more than 15% after the US stock market closed, as the firm forecast far weaker sales for the festive season than expected.
(Click here to read more)
3. Shares in Meta, which owns Facebook and Instagram, have plunged more than 20% after a downbeat set of results from the tech giant as investor doubt Mark Zuckerberg's vision for the future growth of the meteverse, and revenues and profits decline.
Meta's sales shrank by 4% in the three months ending in September to $27.7bn (£24bn), while profits halved.
(Click here to read more)
2. The world's richest man, Elon Musk, has completed his $44bn (£38.1bn) takeover of Twitter, according to US media and an investor in the firm.
He tweeted "the bird is freed," in an apparent reference to the deal closing.
(Click here to read more)
1. Rishi Sunak and Chancellor Jeremy Hunt are exploring tax increases and public spending cuts worth up to 50 billion pounds ($57.84 billion) a year to fill a hole in public finances.
Ministers are hoping the measures will not have to be implemented in full in the fiscal statement to be published on November 17th but officials want the government to use the 50 billion pound estimate after being given weak economic forecasts by the Office for Budget Responsibility.
(Click here to read more)