From junk food ad bans to new smoking bans: the UK is in an age of state intervention July 1, 2021 We have slipped into a new age of state intervention. Even after a year of unprecedented interference in our everyday lives, attacks on personal freedoms are emerging from every quarter. Take gambling, for example. The government’s review of the Gambling Act looks set to introduce new spend limits to dictate what people can and can’t [...]
Trafigura ‘warned’ Credit Suisse over ‘suspect’ GFG invoice June 3, 2021 Commodities trading house Trafigura warned Credit Suisse over a suspect invoice from Sanjeev Gupta’s GFG Alliance in July 2020, it has emerged. The so-called receivable, the FT reported, indicated that Trafigura owed money to Liberty Commodities, the metal trading arm of Gupta’s conglomerate. Prior to going bust in March, Greensill, GFG’s main financier, would lend [...]
Credit Suisse ‘bankrolled Gupta despite warnings’ from colleagues elsewhere at bank May 28, 2021 Executives at Credit Suisse ignored warnings from colleagues about troubled Sanjeev Gupta, pressing ahead with funnelling billions to his business despite others at the bank blacklisting the steel tycoon. The warnings from one set of executives did not stop others at Credit Suisse transferring $1.2bn of client funds to steel tycoon Sanjeev Gupta, Bloomberg first [...]
Came From The Dark to light up Palace House April 30, 2021 MABS Cross, Marsha, Sole Power, Mayson – the Group Three Betfair Palace House Stakes (2.25pm) has been won by some brilliant sprinters over the past decade. Sadly, Saturday’s contest looks more like a Beverley Bullet than a Palace House, especially after John Quinn took out his duo Liberty Beach and Keep Busy at the final [...]
Gupta’s business empire sued by rival Tata over £100m steel deal April 22, 2021 Sanjeev Gupta’s business empire is reportedly being sued by rival Tata over a £100m deal that made him one of Britain’s biggest steel magnates. Tata has filed a commercial court claim against Gupta’s GFG Alliance — parent company of Liberty Steel — over alleged mispayments, the Daily Telegraph reported. The case is said to relate [...]
Liz Truss must keep import tariffs on steel – or risk losing the industry in the UK for good April 22, 2021 In decades past, import tariffs were regarded as nothing but a protectionist relic of resistance to free trade. But in recent years, those of us who believe in fair competition have had to learn that tariffs are an essential safeguard in a global trading system where some countries will not play by the rules. The [...]
Sunak questioned over Greensill Capital’s links to Covid loan scheme April 5, 2021 Greensill Bank clients get $3bn payout as Labour puhes for tighter lobbying rules after David Cameron lobbying probe
Boris Johnson accused of asking for a ‘blank cheque’ to restrict freedoms to September March 24, 2021 Boris Johnson has been accused of asking for a “blank cheque” to restrict freedoms as the government prepares to extend emergency Covid powers until September. Liberal Democrat leader Sir Ed Davey today told MPs today that the Prime Minister was “pushing a bill that will restrict one of our most fundamental freedoms” – the right [...]
Greensill’s downfall: Ripples of panic as flaw in shadow banking spin led to firm’s tragic end March 10, 2021 It has been a week from hell for Greensill Capital. Just a year after Australian financier Lex Greensill sought a $7bn valuation, his boutique bank filed for administration this week as his lawyers appeared before a UK court on Monday. What is likely to turn into the tragic end to what once was a City [...]
Greensill files for administration putting thousands of steel jobs at risk March 8, 2021 Greensill Capital has this afternoon filed for administration, potentially putting at risk thousands of jobs in the UK steel industry. Lawyers for the boutique bank, which is one of the main sources of funding for steel magnate Sanjeev Gupta’s business empire, appeared before a UK court today, the FT reported. According to court documents, Greensill [...]