US financial watchdog raises questions around Musk’s Twitter stake acquisition May 28, 2022 The US Securities and Exchanges Commission (SEC) has cast doubts over the legality of Elon Musk’s failure to properly disclose his acquisition of a 9.2 per cent stake in Twitter for $2.6bn, before launching his bid to takeover the social media firm. In an April 4 letter to the richest person in the world – [...]
Bitcoin volatility index drops to historic low as PayPal launches stablecoin while Revolut drops crypto in US August 14, 2023 Data from CryptoCompare shows that the price of the flagship cryptocurrency Bitcoin (BTC) moved essentially sideways throughout the week.
Former IAG boss Wille Walsh condemns Airbus-Qatar Airways row January 25, 2022 Willie Walsh, former boss of British Airways’ owner IAG and now at the helm of the International Air Transport Association, has condemned the ongoing row between Airbus and Qatar Airways. Weighing in on Airbus’s decision to revoke Qatar Airways’ order of 50 A321 planes, Walsh said it was a “new and worrying development,” telling Reuters [...]
Ed Warner on rugby and the “friendless” Commonwealth Games December 7, 2023 Our columnist tackles rugby's legal battle over brain injury.
Time moves fast in AI years, and Britain is nowhere near ready April 25, 2023 The latest version of ChatGPT makes the AI chatbot which went viral last year look like the dumb younger sibling but the UK still can’t figure out what to do - or how to use - artificial intelligence.
Allianz told to pay $6bn after SEC charges three execs with fraud over Structured Alpha funds scandal May 17, 2022 The US financial watchdog has told German financial services behemoth Allianz to pay $6bn (£4.8bn) after charging three of its senior executives with fraud in relation to the $11bn collapse of the firm’s Structured Alpha funds. Allianz agreed to pay $1bn to the US Securities and Exchanges Commission (SEC) and a further $5bn to investors, [...]
Tesla under fire after two senators raise concerns over driving system February 8, 2022 Another turbulent day at Tesla, as two US senators have expressed “significant concerns” over the electric vehicle (EV) giant’s ‘autopilot’ and ‘full self-driving systems’. “We are deeply troubled by Tesla’s design choices that seemingly encourage unsafe driving habits,” Democratic senators Richard Blumenthal and Ed Markey wrote in a letter to the Austin-based company. “These complaints and [...]
Nissan to file £70m lawsuit against fugitive ex-chief Carlos Ghosn February 12, 2020 Nissan wants 10bn yen (£70m) in damages from its former boss Carlos Ghosn in relation to his alleged financial misconduct, Reuters has reported. The civil lawsuit filed to seek the sum follows Ghosn’s dramatic escape from Japan to Lebanon last December. The allegations the former Nissan chair faces, all of which he denies, include understating [...]
EY accused of concealing fraud in $8bn legal claim by NMC Health founder July 22, 2021 Ernst & Young, along with two other banks, face accusations it “actively concealed” a six-year fraud from investors in a new lawsuit over its auditing work for NMC Health, according to reports. BR Shetty, the Indian-born founder of the hospital operator, filed a court document in New York, alleging that the company had been subject [...]
Global banking powerhouses await forex class action ruling July 12, 2021 A London court this week will rule whether a multi-billion-pound class action filed against the world’s largest banks over accusations of foreign exchange rigging can proceed. Barclays, NatWest, UBS, Citigroup, JPMorgan and MUFG Bank are waiting to see whether they will face the first forex class action in the UK after the five-day hearing kicked [...]