Pound
Is it Bitcoin’s time to shine? British pound drops to all-time low against the dollar
On Sept. 26, the British pound hit a record low against the U.S. dollar following the announcement of tax cuts and further debt increases to curb the impact of a possible economic recession. The volatility simply reflects investors’ doubts about the government’s capacity to withstand the growing costs of living across the region. The U.S. dollar has been the clear winner as investors seek shelter in the largest global economy, but the British pound’s weakness could be a net positive for Bitcoin. The GBP, or British pound, is the world’s oldest currency still in use and it has been in continuous use since its inception. Fiat currencies are a 52-year old experiment The British pound, as we currently know, started its journey in 1971 after its convertibility with gold ...
Adidas frustrated with Manchester United over sharp decline in shirt sales
Adidas are growing disgruntled with Manchester United after a downturn in shirt sales, according to the Daily Mail. With the deal that Man United agreed with Adidas worth in the region of £78M-a-year, as per the Daily Mail, you’d expect that it would be a relationship the club would try to keep healthy. However, the report claims that Adidas were frustrated with the Red Devils for their failure to brief them on plans for their involvement in the proposed European Super League. There is now also further discontent, with Adidas wary of Man United’s decline in shirt sales. The Daily Mail claim that shirt sales have fallen 100,000 over the last two years. It’s not exactly clear why that would be the case. You could argue it’s as a result of United’s decrease in quality on the field, or it coul...
How love affair gone bad led to imprisonment of Prophet Israel Oladele
When the Lagos State Court of Appeal granted the Senior Shepherd-in-Charge of the Celestial Church of Christ, Genesis Global, Prophet Israel Oladele Ogundipe, a post-conviction bail last week, on grounds of failing health, quite a number of people, particularly members of his congregation, were very happy with the news. This is because the televangelist’s previous bail applications were all turned down. Oladele was arraigned on seven counts bordering on obtaining by stealing, inducing delivery of money by false pretences, unlawful conversion of property and forgery, fraudulently collected N14m and £12,000 in various tranches from the complainant between August 30, 2002 and 2005. He was found guilty on two counts of stealing and unlawful conversion of property not delivered. And on November...
Oil prices slide in lockdown-driven rout
Oil prices dived Thursday on demand fears as more nations go into lockdown to staunch the spread of the coronavirus, while stock prices attempted a modest rebound. Both main oil contracts fell five percent for part of the day before clawing back some of their losses, extending this week’s meltdown to plumb four-month lows on virus-driven demand fears. “The new lockdowns have since yesterday caused a carnage in the oil market,” said Bjornar Tonhaugen, head of oil markets at Rystad Energy. “Oil demand will lose ground as a result of the new lockdowns… Prices now naturally decline on this grim prospect,” he added. The drop in oil prices will increase the pain on oil companies. Exxon Mobil announced Thursday it was eliminating 1,900 US jobs as part of a cost-cutting drive necessitated in part ...
