This week, Bitcoin reaches a new low, Tesco faces a lawsuit that could cost the company £4bn, and Trump plans a military parade.
Bitcoin falls due to government crackdown
Last Tuesday, the price of Bitcoin fell to $5.947, its lowest price since November, when it plummeted from $19.000 to below $6000.
This last fall comes as a direct result of multiple UK and US banks banning their customers from buying digital currency. Additionally, the governments of UK and France have warned investors against purchasing any digital currency, stating they risk losing their money. China has already forbidden any purchasing of initial coin offerings, and are planning to completely deter investors from accessing any virtual foreign currency.
Justin, a third-year International Media and Communications student, told Impact: “I think Bitcoin is pretty cool, because in the age of technology, where everything you do is tracked, there is one way to keep yourself anonymous.”
Tesco faces record equal pay claim
Earlier this week the UK’s largest supermarket chain Tesco drew flak amidst allegations of unequal pay amongst its male and female employees.
Almost 200,000 of its workers could be affected by the outcome of the legal challenge made public on Wednesday.
Workers claim that women receive lower hourly pay than men despite work of comparable value – illegal under equal pay law in the UK. If successful, Tesco could foot a bill of over £4bn in back pay for discriminated-against workers.
Kristina, a third-year International Media and Communications student, noted: “It is unacceptable that women still get paid less. I think the lawsuit is a step in the right direction.”
Trump orders Pentagon to organise a military parade
US President Donald Trump has ordered the Department of Defence to plan a large military parade in Washington.
The President wishes to top last year’s French military parade in honour of Bastille Day. “It was one of the greatest parades I’ve ever seen,” stated Trump.
The request has generated a wave of concern over huge costs of the parade and its reminiscence of authoritarian regimes. Jackie Speier, a member of the House Armed Services Committee, said: “I was stunned by it, to be quite honest… we have a Napoleon in the making here.”
Teodor Ispas, Michael Rozelle and Goda Naujokaityte