BUSINESS LIVE: Crypto Squid Scammers Make $2m; BP Profits Boosted By Oil Prices; Homebuying Process Accelerates

According to reports, the creators of a cryptocurrency inspired Netflix’s Squid Game have pulled the plug on their project and taken more than $2million.

The SQUID cryptocurrency was advertised as a play-to earn token. It allows players to win prize money via six online games based upon the viral TV series.

BP saw a sharp uptake in its third quarter profit due to higher oil and natural-gas prices, which have soared this past year as economies recover after the pandemic.

The oil giant’s underlying replacement cost profit – BP’s definition of net earnings – reached $3.32billion in the third quarter, exceeding analysts’ expectations for $3.06billion.

New figures show that the average time taken for a property deal to close is 27 days less.

Rightmove reports that home movers used to have to deal with a five-month average summer period. However, conveyancing now takes just over four months, or 127 days, on average.

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BP's $3.32bn third quarter profit compares to $2.8bn in the second quarter and $86m a year earlier, when energy demand and prices collapsed due to the coronavirus epidemic.

BP’s third quarter profit of $3.32bn compares to $2.8bn for the second quarter and $86m a full year ago, when energy demand and prices plummeted due to the coronavirus outbreak.