BUSINESS LIVE: Bitcoin hits record high; Barclays beats expectations

BUSINESS LIVE: Bitcoin hits record high on ETF listing; Business rates bill to soar; Barclays beats expectations with bumper Q3

The price of bitcoin hit record highs yesterday, following the launch of the first ever bitcoin futures exchange-traded fund in the US.

Bitcoin broke the $66,000 mark, ahead of its previous all-time high of $64,800 reached in April and more than double its level in July, and has settled back to $64,536 as of 7.30am GMT on Thursday.

Business rates are set to rise by close to £1billion next year – sparking demands for the hike to be cancelled until the system is reformed.

The jump in the tax on commercial property is based on inflation data for September – which yesterday came in at 3.1 per cent.

Barclays followed Wall Street rivals in reaping bumper investment banking fees from a surge in trading and advisory mandates, reporting better than expected third quarter earnings.

The British bank reported profit before tax of £2billion in the three months to the end of September, better than the £1.6billion forecasted by analysts and double the £1.1billion it posted in the same period last year.

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Barclays’ advisory and equities businesses posted their best ever performances in the first nine months of the year