BUSINESS LIVE: BoE plots crypto sterling; City regulators weigh post-Brexit rules shake up; M&S profits soar
Bitcoin prices soared to a record high yesterday as the Bank of England laid out a timetable for the launch of its own cryptocurrency.
The coin broke through $68,000 (£50,150) for the first time, meaning it is now up over 110 per cent since the start of the year. Its previous record was in late October, when it hit $67,700 (£49,920).
City regulators are preparing to break free of EU shackles to pull more business to the UK post-Brexit.
Chancellor Rishi Sunak plans to give the Financial Conduct Authority and the Bank of England’s Prudential Regulation Authority more freedom to replace EU law with their own rules.
Marks & Spencer beat forecasts for first-half profits and raised its full-year outlook, with revenues surpassing pre-Covid levels.
The retailer made a pre-tax profit of £269.4million pounds in the six months to 2 October, versus analyst forecasts of £205million to £264million.
> If you are using our app or a third-party site click here to read Business Live
The profit upgrade is only the second from M&S this century and follows one in August