BOJ’s Wakatabe says central banks must uphold strong commitment to price goal: Nikkei By Reuters


© Reuters. Deputy Governor at the Bank of Japan, Masazumi Wakatabe, speaks at a European Financial Forum event in Dublin

TOKYO (Reuters) – Central banks must uphold their strong commitment to achieve their price goals to address both upside and downside risks to inflation from the coronavirus pandemic, Bank of Japan Deputy Governor Masazumi Wakatabe said in a column that ran on the business daily on Wednesday.

Policymakers must also shift their attention more to the risk that companies and households may face solvency problems as the economic devastation caused by the pandemic persists, Wakatabe said in the joint piece with the BOJ’s think tank head Toshitaka Sekine.

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Lloyd’s calls for state-backed ‘Black Swan’ reinsurance By Reuters


© Reuters. FILE PHOTO: Man enters the Lloyd’s of London building in the City of London financial district

LONDON (Reuters) – “Black Swan” reinsurance schemes backed by governments could help businesses get insurance pay-outs after huge shocks such as the coronavirus pandemic, Lloyd’s of London said.

Commercial insurance market Lloyd’s has said insurers worldwide will pay out more than $100 billion in coronavirus-related claims this year.

But many firms are frustrated that their business interruption policies do not cover the pandemic and some in Europe and the United States are in dispute with insurers.

The Black Swan cover could be used to ensure payments after catastrophes such as a cyber attack or solar storm destroying critical infrastructure, as well as for pandemics, Lloyd’s said in a report published on Wednesday.

“Our concern is you solve for pandemic and you don’t solve for the next disaster,” Lloyd’s Chief Executive John Neal told Reuters.

Insurers in Britain, France, Germany and the United States are seeking government-backed “Pandemic Re” cover for future pandemics, similar to existing pooled insurance schemes for damage due to terror attacks.

Neal said that unlike a Pandemic Re, a Black Swan Re would help firms after “multiple systemic exposures”. European risk managers have also called for a broader programme.

Lloyd’s, which has set up a 15 million pound ($18.5 million) seed fund to create new products, is also proposing a government-backed after-the-event product to give small businesses a quick cash injection after a crisis.

And the market is working on a new business interruption policy for its small business customers, to insure sums of up to 100,000 pounds, which Neal said could launch this year.

Britain’s markets watchdog is taking eight insurers to court, including two Lloyd’s syndicates, to clarify whether some business interruption policy wordings should trigger pay-outs.

Customer opinions of insurance have deteriorated as a result of the disputes, the Lloyd’s report found.

The proposals were made in conjunction with Lloyd’s’ global advisory committee, which includes major insurers such as Allianz (DE:) and AXA (PA:).

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UK employers demand action now to survive COVID crisis By Reuters


© Reuters. FILE PHOTO: Britain’s Chancellor of the Exchequer Rishi Sunak attends a news conference on the ongoing situation with the coronavirus outbreak

LONDON (Reuters) – A British employers group demanded immediate action from finance minister Rishi Sunak after a record deterioration in business in the April-June period.

The British Chamber of Commerce said on Wednesday its quarterly survey of 7,700 firms found the share of companies reporting growth in sales was far below even the low point of the global financial crisis of 2007-08.

“Our results demonstrate the need for swift and substantial action,” the BCC’s director general Adam Marshall said. “The UK cannot meander its way back to success in this era of uncertainty.” 

Prime Minister Boris Johnson promised on Tuesday to fast-track infrastructure investment and slash property planning rules. The spending announcement of 5 billion pounds ($6.2 billion) amounted to around 5% of gross public sector investment last year, most of which had already been announced.

Sunak is due to announce more details of the government’s plans next week, on top of the 133 billion pounds of emergency measures he has rushed out mostly to keep people in their jobs.

However, Sunak has so far opted not to bring forward a major budget statement which is due in the autumn.

The BCC said its survey showed orders and investment intentions at record lows for services firms and manufacturers. 

Marshall called on the government to cut employers’ social security contributions and take other measures to help companies keep workers on their books after Britain’s huge state furlough scheme expires at the end of October.

Companies would need extra investment incentives and help to survive cashflow crunches in the form of wider relief from property taxes and more grants. The government should also take measures to stimulate consumer demand, Marshall said.

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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Survey Shows 42% of Investors Expect a $15K Bitcoin Price in 2020 By Cointelegraph


Survey Shows 42% of Investors Expect a $15K Bitcoin Price in 2020

A survey conducted by major crypto custodian IRA revealed that 42% of the platform’s customers expect Bitcoin’s (BTC) price to exceed $15,000 by the end of 2020.

According to a June 29 announcement, Bitcoin IRA surveyed over 300 of its customers who answered their questions on a voluntary basis. A staggering 57% of the respondents also said that they buy and hold cryptocurrency as a long-term investment.

Continue Reading on Coin Telegraph

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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Investors Defrauded by South Korean Pyramid Scheme By Cointelegraph


Investors Defrauded by South Korean Pyramid Scheme

South Korean authorities are investigating a complaint filed by 950 investors who claim to be victims of a crypto-related ponzi scheme.

According to TV Chosun, police are looking into reports that over 160 individuals are believed to have operated the alleged scam, known as Futurenet. The Futurenet team is also suspected of stealing almost 20 billion won ($16.66 million) from investors and transferring the money via cryptocurrency.

Continue Reading on Coin Telegraph

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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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ETH Scalability Isn’t Going to Be an Issue Soon, Suggests Vitalik Buterin By Cointelegraph


ETH Scalability Isn’t Going to Be an Issue Soon, Suggests Vitalik Buterin

expects boosted transactions per second, or TPS, as the network shifts toward the long-awaited Ethereum 2.0, or ETH 2.0, according to Etheruem co-founder Vitalik Buterin.

“ETH2 scaling for data will be available before ETH2 scaling for general computation,” Ethereum Buterin said in a June 30 tweet.

Continue Reading on Coin Telegraph

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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Researchers Say New Lightning Network Attack Could Create ‘Chaos’ By Cointelegraph


Researchers Say New Lightning Network Attack Could Create ‘Chaos’

A study published on June 29 revealed a way to drain (BTC) wallets’ funds on the Lightning Network by exploiting a bottleneck in the system.

According to the “Flood & Loot: A Systemic Attack On The Lightning Network” paper, Jona Harris and Aviv Zohar from the Hebrew University in Israel evaluated a systemic attack on the Lightning Network that allows for the theft of BTC funds that were locked in payment channels.

Continue Reading on Coin Telegraph

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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Iota Enters First Phase to Become ‘Fully Decentralized Network’ by 2021 By Cointelegraph


Iota Enters First Phase to Become ‘Fully Decentralized Network’ by 2021

Iota, a major blockchain project designed for the Internet of Things, or IOT, has entered the first phase in its roadmap for upgrading the network to IOTA 2.0.

According to a June 30 blog post, users can now download the new Pollen release in the first fully decentralized IOTA test network.

Continue Reading on Coin Telegraph

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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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3 Reasons Why Bitcoin Price Recorded Its Third Best Q2 Performance Ever By Cointelegraph


3 Reasons Why Bitcoin Price Recorded Its Third Best Q2 Performance Ever

The price of (BTC) recorded its strongest Q2 performance in history following a massive plunge on March 13 when the price dropped below $3,600 before eventually pushing above $10,000 over the next three months.

Researchers at Skew said:

Continue Reading on Coin Telegraph

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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Cardano’s ‘Shelley’ Mainnet to Launch Soon By Cointelegraph


Cardano’s ‘Shelley’ Mainnet to Launch Soon

(ADA) is upgrading from “Byron” over to “Shelley”. According to an announcement from the project:

Shelley offers greater decentralization and lays the groundwork for Goguen, which will introduce smart contracts. The Shelley version of Daedalus wallet has been released as well.

Continue Reading on Coin Telegraph

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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