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Almost £90,000 worth of champagne was bought for events and at the gift shop in the House of Lords last year.

A total of 1,589 bottles were bought over the course of 2023, at a cost of £88,987.90, according to new data from a Scottish National Party (SNP) Freedom of Information (FOI) request.

It’s a slight rise from 2022, when 1,580 bottles were sold at a cost of £85,462.51.

Tommy Sheppard, the SNP MP for Edinburgh East, was scathing about the figures released by the party on Tuesday, saying “a parliament where unelected Lords glug fizz and collect £342 a day” is “not fit to properly represent the people”.

“The past year has been defined by Westminster’s cost of living crisis that has seen living standards plummet and countless more households pushed into poverty and deprivation – a reality alien to the Lords and their lavish lifestyles” he said.

It shows, Mr Sheppard added, that the house is “archaic and out of touch” and “should be abolished” and Scots be allowed “to pursue an alternative from Westminster”.

The SNP has no representatives in the House of Lords due to its opposition to the unelected second chamber.

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In 2020, the year COVID-19 hit the UK, sales of champagne in the House of Lords amounted to just £8,982, with only 180 bottles sold over the course of the year – part of which was spent in lockdown.

The 2019 figure was 1,441 bottles purchased, at a cost of £69,988.80.

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Mission: Impossible tune interrupts Lords

But a House of Lords spokesperson said the majority of the champagne was sold in the gift shop or at events hosted by external organisations.

The spokesperson said: “All alcohol, including champagne, sold in the House of Lords is sold at a profit.

“Most of the champagne sold by the House of Lords is bought by visitors in the gift shop and consumed away from Parliament by members of the public, or sold at banqueting events to organisations or individuals hosting the event in the House of Lords.

“It is not paid for by the taxpayer.”

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Upbit operator Dunamu posts $165M in profit in Q3, up over 300% YoY

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Upbit operator Dunamu posts 5M in profit in Q3, up over 300% YoY

Upbit operator Dunamu reported a surge in profitability for the third quarter of the year, posting 239 billion won ($165 million) in net income.

The figure marks an increase of more than 300% compared to the same period last year, which stood at $40 million, local news outlet Chosun Biz reported, citing regulatory filings with the Financial Supervisory Service.

The filing reportedly showed strong momentum across all key metrics. Consolidated revenue climbed to $266 million, up 35% from the previous quarter, while operating profit rose 54% to $162 million. Net income also jumped 145% quarter-over-quarter from $67 million.

The company attributed its improved performance to rising trading activity as global digital asset markets rebounded through 2024 and 2025.

Related: South Korea’s bank-first stablecoin approach lacks logic, says Kaia chair

Dunamu credits US crypto bills for boost

Dunamu said investor confidence received a boost following regulatory developments in the United States, including the passage of the Genius Act, the Clarity Act and the Anti-CBDC Bill. These measures, the company said, contributed to renewed institutional participation and steadier market conditions.

Dunamu has faced heightened reporting requirements since 2022, when it was added to the list of corporations subject to external audit due to having more than 500 shareholders.

Notably, several major crypto firms experienced a revenue increase last quarter. Bitcoin mining company TeraWulf and Singapore-based cloud Bitcoin miner BitFuFu doubled their third-quarter revenue from the previous year.

Related: South Korea ramps up crypto seizures, will target cold wallets

Naver Financial to acquire Dunamu

As Cointelegraph reported, Naver Financial, the fintech arm of South Korea’s largest internet company, is preparing to acquire Dunamu. Naver reportedly plans to bring Dunamu in as a subsidiary through a share swap, with board approvals expected soon.