Amanda Staveley launches appeal over Barclays court defeat April 18, 2021 Financier Amanda Staveley has launched an appeal after losing her lawsuit against Barclays over the behaviour of the bank’s bosses negotiating investment deals. In a high-profile trial Staveley sued the lender over claims it gave her private equity firm PCP Capital Partners less favourable treatment than other parties in the emergency £7.3bn fundraising that saved [...]
Saudi crown prince sued over murder of Jamal Khashoggi October 20, 2020 The fiancee of Jamal Khashoggi and a US human rights group have filed a lawsuit against Saudi crown prince Mohammed bin Salman over the journalist’s murder in 2018. The lawsuit, filed in Washington D.C., alleges that Khashoggi was tortured, murdered and dismembered on the orders of prince Mohammed. The crown prince is named alongside more [...]
City Pub group hammered by 57 per cent plunge in revenue May 11, 2021 Hammered by restrictions, the City Pub group raked in £25.8 million in revenue last year, 57 per cent less than 2019 figures, despite buying a hefty stake in Kensington Park Hotel. The group, which has 45 pubs across London, Southern England and Wales, snapped up a 49 per cent stake in the hotel in the [...]
Santander ‘faces €100m lawsuit’ from Andrea Orcel over CEO row July 3, 2019 Santander has reportedly been landed with a €100m (£90m) legal challenge from Andrea Orcel, the investment banker who was denied the role of chief executive just four months after being offered the post. Read more:Deutsche Bank considers cutting up to 20,000 jobs Orcel has filed a lawsuit claiming the Spanish multinational bank violated a contract [...]
Tesla shareholder sues Elon Musk over tweets March 12, 2021 A shareholder in electric car firm Tesla is suing outspoken boss Elon Musk, claiming that his tweets have exposed investors to billions in losses. The claim accuses Musk of breaking a settlement reached with the US Securities and Exchange Commission back in 2018. At that time, the regulator came down hard on the South Africa-born [...]
Tencent confirms talks with regulators amid China tech crackdown March 24, 2021 Tencent has confirmed it is in talks with Chinese antitrust regulators as authorities in Beijing ramp up the pressure on tech firms. President Martin Lau today said the company’s founder Ma Huateng had held a voluntary meeting with antitrust watchdog officials this month to discuss compliance at the company. He said the two sides had [...]
Visa ‘facing US investigation’ over debit card practices March 19, 2021 Visa is said to be facing a regulatory investigation in the US over concerns it is engaging in anti-competitive practices in the debit card market. The US Department of Justice has been looking at whether Visa limited merchants’ ability to route transactions over card networks that are often less expensive, the Wall Street Journal reported. [...]
Lina Khan: How America’s answer to Margrethe Vestager plans to take on Big Tech June 16, 2021 Since taking over as European Commissioner for Competition in 2014, Margrethe Vestager has made her mission clear: to crack down on the ballooning power of Big Tech. The ruthless competition czar has undoubtedly delivered on those ambitions, handing down high-profile fines running into the tens of billions of euros against the likes of Facebook, Apple, [...]
Amazon’s UK sales surge to £20bn thanks to lockdown boom February 3, 2021 Amazon’s UK revenue jumped more than 50 per cent to hit $26.5bn (£20bn) last year as coronavirus lockdown sparked bumper demand for online shopping. The US tech giant last night reported full-year sales of $280.5bn, with revenue surpassing $125bn in the final three months of the year alone. But in-depth documents filed with the Security [...]
Apple shares sink on US deceptive practices probe report July 23, 2020 Shares in Apple fell more than four per cent this evening following a report that the tech firm is facing a probe in multiple US states, which allege it engages in deceptive practices. A March document obtained by a tech watchdog group showed the Texas attorney general may sue Apple for violating the state’s deceptive trade practices [...]