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Bitesize Blighty: September 7, 2018

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  • The financial markets will continue to keep a close watch on the declining value of cryptocurrencies as Bitcoin’s value dropped by $1,100 in two days, as The Times reports. The crash is said to have been induced by Goldman Sachs’ halt on its plans to open a digital currency trading desk on Wednesday this week.
  • Lloyds of London has named John Neal as its new CEO, succeeding Inga Beale, the first female CEO in the company’s history. John Neal was formerly the boss of QBE – the Australia-based Insurer – before being ousted in 2017 due to shock profit warning. Neal is expected to steer Lloyd’s through a difficult period in the bank’s history, as it recorded losses for the first time in 6 years in 2017.
  • British Airways has vowed to compensate passengers affected by the theft of personal information from its website, as customers expressed anger over the company’s response to the data breach. BA disclosed on Thursday night that hackers had stolen data relating to about 380,000 customers from its website and mobile app during a two-week period beginning on August 21, at the height of the summer holiday season. 

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