25th July 2022
Bite-sized business news from the UK and beyond
Good morning Can you believe it, it's been 10 years since the opening ceremony of the London 2012 Olympic and Paralympic Games. Over the weekend the capital marked the anniversary where Team GB ended up third in the medals table with 29 gold medals and 65 medals in total.
Today's stories
Ukraine's grain gets freed up
Barclays takes stake in $2bn crypto firm
EUROPEUkraine's grain gets freed up
Other stories to keep you in the loop
British Airways staff call off Heathrow strike after 8% pay rise deal
EY's UK arm drafts in Rothschild as $80bn break-up looms
Record number of £10m-plus London properties sold as pound falters
London-based startup Shares bags $40m to capitalise on DIY investing boom
Rail strikes to go ahead next Wednesday
The Co-op cuts 400 jobs blaming soaring inflation
Amazon buys US medical provider as it cements move into healthcare
Elon Musk denies affair with Google co-founder's wife
CRYPTOBarclays takes stake in $2bn crypto firm
Barclays is on the verge of multi-million pound investment in Copper, a British crypto firm, according to reports over the weekend from Sky News.Founded in 2018 Copper provides services to institutional investors like asset managers who want to trade in crypto assets. The company is also advised by former chancellor Phillip Hammond. The crypto firm was reported to be angling for a valuation of over $3bn in its latest capital raise but has since scaled back the plans to $2bn amidst the crisis that has wiped more than $2tn of the value of the sector.Barclays has often had a checkered past with the crypto industry including denying its services to big name exchanges like Binance and Coinbase. But in 2015 it became the first UK bank to support crypto by persuading charities to accept cryptocurrency as a form of donations.Zooming out: Copper's funding round comes amid a turbulent time for the crypto industry. This year the main currency Bitcoin has lost almost half its value and in recent months a raft of crypto firms have announced job cuts and scaled back growth plans.
Stat of the day
Twitter said it spent $33 million between April and June 2022 dealing with Elon Musk’s chaotic bid to buy the company
Interesting links from around the web
Budget-friendly decorating tips to make the most of your space
Some tips to avoid “lifestyle creep” — when your spending starts to outweigh your budget
8 tips to help make sure you’re drinking enough water
