Friday newspaper round-up: Harrods, USD1, European ETFs.

Staff at the Co-op have been ordered to keep their cameras on during remote meetings to verify attendees while Marks & Spencer has halted all recruitment as the companies tackle cyber attacks. Both retailers have had to shut down parts of their IT systems after hackers infiltrated their networks with alleged ransomware attacks. Harrods, the luxury London department store, became the third household name to confirm it had fallen victim to cyber criminals on Thursday. - The Times

Source: Sharecast

A stablecoin launched by Donald Trump’s World Liberty Financial cryptocurrency venture is being used by an Abu Dhabi investment firm for its $2bn investment in crypto exchange Binance, one of World Liberty’s co-founders said on Thursday. World Liberty, which aims to allow people to access financial services without intermediaries like banks, said in March it would launch USD1, a dollar-pegged stablecoin backed by US treasuries, dollars and other cash equivalents. - Guardian

Investors piled record amounts into European exchange-traded investment funds at the start of 2025 as capital flowed out of US assets, fresh data suggests. US President Donald Trump's imposition of tariffs on imports from around the world has seen investors reposition their exposure away from the country. During the opening three months of the year, the European ETF market saw inflows of $93billion of net new assets as Trump threatened and later imposed tariffs on trade partners, according to figures from Invesco. - Daily Mail

The incoming boss of National Grid has raised concerns about the pace of net zero and said that oil will be needed for decades. Zoë Yujnovich, who will take up the role of National Grid chief executive in November, previously warned that the journey to net zero “must be achieved whilst providing a stable and reliable supply of energy”. - Daily Telegraph

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02/05/2025 - 17:15

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