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Bitcoin has surged to a new all-time high – breaking through $111,000 for the first time.

It means every single person who has bought it since 2009 (and held onto it) will be sitting on a profit.

The surge follows a pretty dramatic 2025 for Bitcoin (BTC), with Donald Trump’s presidency making this digital asset even more volatile than usual.

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BTC had first managed to hit $109,000 on 20 January – the day Mr Trump was inaugurated – with investors hopeful that he would introduce a slew of pro-crypto policies.

Despite the president coming good on some of those promises, the world’s biggest cryptocurrency soon fell, amid accusations these policies didn’t go far enough.

The White House has confirmed the US will treat Bitcoin seized from criminals as an investment, but there was disappointment when it was confirmed the government would not be buying additional coins for its “strategic reserve” using taxpayers’ money.

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Bitcoin also took a battering in the immediate aftermath of Mr Trump’s controversial “Liberation Day” tariffs – slumping to lows of $75,000 in April as investors dumped riskier assets.

There are several factors behind this recent comeback, with laws designed to regulate the crypto sector now advancing through the US Senate for the first time.

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Feb: Hackers steal $1.5bn in cryptocurrency.

Interest in Bitcoin is also growing among hedge funds and financial institutions, while some companies are now in a race to buy as much of this cryptocurrency as possible.

One company called Strategy now has a war chest of 576,230 BTC worth $63bn – resulting in handsome profits of more than $23bn.

Part of BTC’s appeal lies in how it has a limited supply of 21 million coins, whereas the amount of traditional currencies in circulation often increases over time.

The latest milestone will likely contribute to a euphoric atmosphere when the president hosts a controversial dinner tomorrow for 220 of the biggest investors in $TRUMP, his very own cryptocurrency.

It also coincides with Bitcoin 2025 – the biggest crypto conference in the world – which is due to begin in Las Vegas on Tuesday – and growing financial market concerns about the size of the US government’s ballooning debt pile.

Nigel Green, chief executive of global financial advisory firm deVere Group, expects Bitcoin to set new milestones in the coming months.

“$150,000 no longer looks ambitious – it looks cautious,” he wrote in a note.

“Several forces have aligned to propel the market. A cooler-than-expected US inflation print, an easing in trade tensions between Washington and Beijing, and the Moody’s downgrade of US sovereign debt have all steered investors toward alternatives to traditional fiat-based stores of value.

“Bitcoin, often likened to digital gold, is soaking up that demand.

“In a world where sovereign credibility is fraying, investors are shifting decisively into assets that can’t be diluted or manipulated. Bitcoin has become not just a speculative play, but a strategic hedge.”

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Harrods customers’ details stolen in IT systems breach

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Harrods customers' details stolen in IT systems breach

Harrods has warned its e-commerce customers that their personal data may have been taken in an IT systems breach.

Information like customers’ names and contact details was taken after one of Harrods’ third-party provider systems was compromised, the luxury London department store said.

Affected customers have been informed and reassured that the impacted data is “limited to basic personal identifiers”, a spokesperson said.

Account passwords or payment details were not affected in the breach.

“The third party has confirmed this is an isolated incident which has been contained, and we are working closely with them to ensure that all appropriate actions are being taken. We have notified all relevant authorities,” Harrods added.

“No Harrods system has been compromised and it is important to note that the data was taken from a third-party provider.”

This comes four months after the department store restricted internet access as a precautionary measure due to “attempts to gain unauthorised access” to some of its systems.

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Friday’s breach is “unconnected” to the attempts in May, the spokesman said.

Two men aged 19, a 17-year-old boy and a 20-year-old woman were arrested in July over their suspected involvement in cyber attacks on Harrods, Marks & Spencer, and the Co-op.

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They were arrested on suspicion of blackmail, money laundering, offences linked ot the Computer Misuse Act, and participating in the activities of an organised crime group, the National Crime Agency said.

All four have been bailed pending further inquiries.

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Nursery hackers: ‘There’s more to come’

It comes as hackers claim to have stolen pictures, names and addresses of thousands of children in a cyber attack on a nursery chain in London.

The group, calling itself Radiant, has released personal information about children and staff at the Kido nursery chain on the dark web and demanded a ransom from the company.

Radiant told Sky News on Friday it intends to imminently release the profiles of more children and employees.

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Trump trade war expands to cover many drugs, trucks and furniture

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Trump trade war expands to cover many drugs, trucks and furniture

Donald Trump has revealed a fresh round of trade tariffs on several key sectors, with the most punitive rate likely to affect UK businesses.

The US president used his Truth Social account last night to confirm that a new 100% tariff would apply to any branded or patented pharmaceutical product from 1 October.

He said that to escape the clutches of that duty, a company must have already broken ground on a new US factory.

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From the same date, a 50% tariff would be applied to all imported kitchen and bathroom cabinets while upholstered furniture faced a 30% rate.

A 25% tariff faced shipments of heavy trucks.

The president did not confirm whether the duties would be lower for nations to have agreed trade deals with his administration, including the UK and European Union.

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Each faces a blanket 10% and 15% rate on their exports respectively at the moment.

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What does UK-US trade deal involve?

It is likely, however, that the new duties will be applied in line with other, higher, sectoral tariffs that are currently in place above those agreed rates.

“The reason for this is the large scale “FLOODING” of these products into the United States by other outside Countries,” Trump said in his post.

The lack of detail around the application of the planned new tariff rules means further uncertainty for companies potentially affected.

Shares in pharmaceutical firms listed in Asia fell sharply overnight as industry bodies rushed to seek clarification on the new rules.

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Will trade deal with Trump cost UK green jobs?

AstraZeneca – the UK’s most valuable listed company – already has vast US manufacturing and research operations.

In July, as the threat of tariffs loomed large, it revealed plans for a further $50bn investment by 2030.

US figures show the country imported $233bn of drugs and medicines from abroad last year.

A 100% tariff rate, even on some of those shipments, risk ramping up the cost of US healthcare.

By imposing the 100% tariff rate, Mr Trump wants to bring prices down through encouraging domestic production.

US industry groups lined up to oppose the planned measures.

The Pharmaceutical Research and Manufacturers of America said non-US companies were continuing to announce hundreds of billions of dollars in new US. investments. “Tariffs risk those plans,” it said.

The US Chamber of Commerce urged a U-turn on any truck tariffs.

It said the five nations to be worst affected – Mexico, Canada, Japan, Germany, and Finland – were “allies or close partners of the United States posing no threat to US national security.”.

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Many small firms reliant on Jaguar Land Rover have ‘weeks left’ before damage ‘untenable’

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Many small firms reliant on Jaguar Land Rover have 'weeks left' before damage 'untenable'

Small firms reliant on the production-halted British car maker Jaguar Land Rover, “may have at best a week of cashflow left to support themselves” with “urgent” action needed to support businesses.

Liam Byrne, the head of the influential Business and Trade Committee of MPs, wrote to Chancellor Rachel Reeves with the warning after meeting with the car maker’s suppliers.

“Larger firms, we heard, may begin to seriously struggle within a fortnight – and many are simply unclear how they will pay payroll costs at the end of October,” he said

“In short, many firms have merely “weeks left” before the financial impact on them becomes untenable and causes critical damage to key elements of the automotive supply chain.”

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Since 31 August, production has been halted across the car-making supply chain, with staff off work as a result of the attack.

More than 33,000 people work directly for JLR in the UK, many of them on assembly lines in the West Midlands, the largest of which is in Solihull, and a plant at Halewood on Merseyside.

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Are we in a cyber attack ‘epidemic’?

An estimated 200,000 more are employed by several hundred companies in the supply chain, who have faced business interruption with their largest client out of action.

Calls for government financial support had been growing, but Prime Minister Keir Starmer on Thursday afternoon said, “I haven’t got an outcome here to give to you today”.

A partial restart

It comes as JLR announced some of its IT systems are back online after being hit by a cyber attack late last month though production is still not expected to start again until 1 October at the earliest.

“The foundational work of our recovery programme is firmly underway,” a company spokesperson said in a statement.

As part of the partial restart, supplier payments can begin again.

“We have significantly increased IT processing capacity for invoicing,” the statement said. “We are now working to clear the backlog of payments to our suppliers as quickly as we can.”

The supply of parts to customers across the world can also now recommence.

After a workaround was reached on Tuesday to allow cars to move to buyers without the usual online registration, the financial system to process wholesale vehicles is back online.

“We are able to sell and register vehicles for our clients faster, delivering important cash flow”, the company said.

“Our focus remains on supporting our customers, suppliers, colleagues and our retailers. We fully recognise this is a difficult time for all connected with JLR and we thank everyone for their continued support and patience.”

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