European Investment Bank backs Dutch agritech innovator In-Ovo with €40m loan LeapRate

November 03, 2023 BY Elizabeth Anderson

European Investment Bank backs Dutch agritech innovator In-Ovo with €40m loan

Studies indicate roughly 6.5 billion male chicks are killed annually. Globally, this practice ruffles the feathers of animal lovers and activists alike, as only egg-laying hens are needed in the industry. Ovo aims to cull this practice with its technology. Don’t miss out the latest news, subscribe to LeapRate’s newsletter In its press release, the…

November 02, 2023 BY Elizabeth Anderson

New steps for PayPal crypto activities approved by the FCA

The platform was permitted entry to the registry on Tuesday and was approved by noon on Wednesday to engage in certain cryptoasset activities as stated by the FCA. Recently, the FCA declared that companies offering crypto services in the UK must be approved for registration and comply with the FCA's anti-money laundering rules, or charges…

November 02, 2023 BY Elizabeth Anderson

UK Government quashes guarantees on almost £1bn loans

British Business Bank (BBB), which administered the government pandemic loan schemes, removed guarantees with a total value of £979m. The bank quoted data corrections, application mistakes, and double funding as some of the reasons for this move. At the onset of the pandemic, the UK government put different loan schemes in place in an attempt…

November 02, 2023 BY Elizabeth Anderson

Hedge fund industry loses $80bn as investors channel funds elsewhere

According to a Reuters view on the matter, these losses can be chalked up to a decrease in investor interest as they look for higher returns in other investment possibilities. For this year, Aurum indicated multi-strategy hedge funds performed the best with a 5.9% positive return. Credit hedge funds took second place, recording a 5.6%…

November 01, 2023 BY Elizabeth Anderson

Oyster Protocol founder jailed for 4 years for $5m tax evasion

US District Attorney Damian William noted: Amir Elmaani violated the duty he owed to pay taxes on millions of dollars of cryptocurrency profits, and he also violated the trust of investors in the cryptocurrency he founded. In October 2017, Elmaani promoted a cryptocurrency called Pearl, with marketing campaigns geared toward investors looking to purchase data on…

November 01, 2023 BY Elizabeth Anderson

Australia’s NAB sets a new 1bn AUD lending target

The NAB announced this move after regulators emphasised the need for better banking facilities for indigenous customers. Australia’s corporate regulator found that banks failed to accommodate First Nations people with low-fee accounts. The gaps identified include better access to finances and quality of life. Don’t miss out the latest news, subscribe to LeapRate’s newsletter In…

November 01, 2023 BY Elizabeth Anderson

Japan warns of yen intervention after BOJ-instigated sell-off

Tuesday saw the currency’s foremost one-day drop since April. This move followed the BOJ’s disappointing attempt to cap bond yields. Masato Kanda, the top currency official at the Ministry of Finance, emphasised: We’re on standby. But I can’t say what we’ll do, and when – we’ll make judgments overall, and we’re making judgments in a…

October 31, 2023 BY Elizabeth Anderson

Bank of Japan in talks over interest rates and wage growth

Jim Leaviss, Chief Investment Officer for Public Fixed Income at M&G, noted: It feels like the market is anticipating a modification to yield curve control and is starting to price that already. However, industry experts at Barclays anticipate that the BoJ may scrap yield curve control entirely this week after a damaging start to the…

October 31, 2023 BY Elizabeth Anderson

Exxon alters top structure following executive sexual assault charges

Since successfully closing the $59.9bn merger with Pioneer Natural Gas, Exxon had its feelers out for a new shale top dog. Cahir, who was at the helm of this segment from July 2020 to April 2022, now steps back into this position from 1 November. Experts believe this side of Exxon’s business will expand in…

October 31, 2023 BY Elizabeth Anderson

UK Government looking to tighten control over cryptocurrency

In the follow-up to this initial paper, the Government indicated it plans to regulate several cryptocurrency dealings according to the same rules used for banks and financial services companies. UK Financial Services Minister, Andrew Griffith, said: I am very pleased to present these final proposals for cryptoasset regulation in the UK on behalf of the…