10 things you need to know in markets today

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Flickr/Tomas Del Coro

Good morning! Here’s what you need to know.

1. Bitcoin fell to a two-week low on Wednesday. The US Securities and Exchange Commission warned of “potentially unlawful” systems that trade crypto-currencies, which investors may use with an unearned sense of safety.

2. Twitter is taking measures to prevent cryptocurrency-related accounts from running scams on its platform.“We’re aware of this form of manipulation and are proactively implementing a number of signals to prevent these types of accounts from engaging with others in a deceptive manner,” Twitter said in a statement.

3. Goldman Sachs is starting to move some senior bankers to Frankfurt in preparation for Britain’s exit from the European Union. “We’re starting to build infrastructure by making transfers and moving senior people to Frankfurt,” an executive said.

4. French companies will have three years to erase their gender pay gaps or face possible fines. Men are on average paid 9% more than women in France, even though the law has required equal pay for the same work for the past 45 years.

5. Standard Chartered is nterviewing candidates for around 20 banking jobs that it is moving to Frankfurt because of Brexit, Chief Financial Officer Andy Halford said.“Because that provides a degree of certainty irrespective of what will happen on the political front, we will continue with that,” Halford said.

6. Snapchat parent Snap Inc is laying off nearly 10% of its engineering team, or about 100 people, CNBC reported on Wednesday. The layoffs would be Snap’s largest yet and the first to affect its engineers, CNBC said.

7. Virgin Atlantic said it would offer a new type of economy seat with extra legroom. Virgin will refit the cabins of its Boeing 787 Dreamliners to offer a new type of economy seat with legroom of 34 inches (86 cms), bigger than the current economy offering of 31 inches.

8. The European Central Bank has raised no objection to the appointment of Spain’s Luis de Guindos as its next vice president. De Guindos, the only candidate for the job, would replace Portugal’s Vitor Constancio, whose term expires on May 31.

9. Delta Air Lines is picking up business on routes from Germany to the United States following the collapse of Air Berlin. “The capacity that was taken out by Air Berlin hasn’t been filled entirely,” a sales manager told Reuters.

10. Britain’s biggest carmakers told Prime Minister Theresa May that car plants would become more expensive and more complicated after Brexit. This is unless she can ensure unfettered trade with the European Union.