DAILY BRIEFING: Price of bitcoin dipped below $6,000; Facebook buys interactive video firm Vidpresso
The price of bitcoin dipped below $6,000 as digital currencies went into the red.
In early trading bitcoin fell by as much as 4.5 per cent to $5,975. It has not hit that level since the end of June. Rivals Ethereum and Litecoin have both sunk to near-11 month lows.
Hussein Sayed of online broker Forextime blamed the sell-off on delays to a decision by US regulators on whether to allow bitcoin exchange-traded funds.
Sell-off: Digital currencies like Bitcoin went into the red
The competition watchdog has referred Menzies’ purchase of Airline Services for an in-depth merger investigation.
Both supply UK airlines and airports with support services including baggage handling.
The Competition and Markets Authority is worried the deal could lead to higher prices and less choice for airlines.
China’s Ganfeng Lithium is spending nearly £70million on a 50 per cent stake in the Cauchari-Olaroz project in Argentina. Lithium is key to the production of electric vehicles, which China has been targeting.
Brazilian gold miner Serabi Gold produced 9,563 ounces during the second quarter, bringing total gold production to 18,750 ounces.
German energy firm RWE said it is making progress on its asset swap with Eon under which the latter will take over Innogy, which owns UK supplier Npower.
Car dealer Marshall Motor has seen first-half profit and revenue fall. It posted a 7.1 per cent decline in pre-tax profit to £17.2million in the six months to June 30, while revenue slipped 2.1 per cent to £1.16billion.
British tech start-up Five AI is to begin trials of autonomous vehicles in London. It is aiming to eventually offer a car-sharing service to commuters.
Social network Facebook has bought interactive video firm Vidpresso, which makes software that lets broadcasters display on-screen graphics, polls, and social media comments.
Food and drinks firm Good Hemp, which makes its products from hemp seed, has sealed a multi-million pound investment from Scottish private equity firm Inverleith.
Gold miner Centamin has hired Ibrahim Fawzy, a Egyptian industry minister to join its board.