Barclays’ bailout talks peppered with sexist language, court hears July 23, 2020 Barclays bankers seeking credit crisis-era emergency funding used sexist and disparaging language when discussing the businesswoman whose firm led a £3.25bn investment in the bank in 2008, according to court documents. Stephen Jones, a former Barclays banker who resigned as CEO of British bank lobby group UK Finance in June over historic remarks about Amanda [...]
Tesla surpasses Toyota to become world’s most valuable carmaker July 1, 2020 Electric carmaker Tesla today became the world’s most valuable automobile manufacturer, eclipsing Toyota to take the crown. Tesla’s market value is now at $208bn, as shares rose more than five per cent to reach record highs of $1,132 earlier today. In comparison, Toyota was worth approximately $202bn following a small drop in its Japan-listed shares [...]
Cooked: Apple shares spiral as investors fight back in securities fraud lawsuit January 3, 2019 Shares in Apple opened 8.6 per cent down on Wall Street this afternoon, after a shock revenue warning from chief executive Tim Cook caused shivers across global markets and exchanges. In an open letter to investors published last night, Apple cut its revenue forecast for the busy Christmas quarter by 7.8 per cent. The tech giant is [...]
Purdue Pharma made payments of $10bn to Sackler family December 17, 2019 The family that owns controversial opioid manufacturer Purdue Pharma has transferred more than $10bn (£7.6bn) from the company to its personal trusts and holdings in the last decade. An audit carried out by consultants Alix Partners found that the billionaire Sackler family were given $10.7bn in payouts by the firm, which makes Oxycontin. Read more: [...]
Facebook to invest £3m in targeting spam ads in the UK as Martin Lewis drops lawsuit January 23, 2019 Facebook has said it will invest £3m into targeting fraudulent adverts on its UK platform, after reaching a settlement with Money Saving Expert founder Martin Lewis. Lewis first launched proceedings against Facebook last year over a series of ads appearing on the website which claimed he had backed several investment schemes. Those schemes later turned out [...]
Burford Capital issues warning on 2019 profit February 3, 2020 Burford Capital, the litigation funder locked in a stand-off with short-seller Muddy Waters, has warned 2019 profit will fall lower partly due to a fall in potential earnings from certain investments. The AIM-listed company said it finished the first half of its financial year with an “unusually high” amount of settlement, $173m, thanks to investment [...]
UK data watchdog opens joint probe of controversial tech startup Clearview AI July 9, 2020 The UK’s Information Commissioner’s Office today launched a joint investigation with the Australian data watchdog of Clearview AI, a facial recognition startup. The ICO said the probe will focus on the data handling practices of Clearview AI, which scrapes data and biometrics of individuals from photos uploaded onto sites such as Facebook. Clearview AI describes [...]
Dieselgate: VW offers to pay €830m, but talks break down February 14, 2020 Volkswagen said talks to settle a huge collective lawsuit in Germany over the manufacturer’s dieselgate scandal collapsed today. VW had offered a settlement of €830m (£694.7m) with German drivers who purchased their emissions test-cheating diesel cars. But talks with the German consumer association VZBV to provide compensation broke down, with each party blaming the other. [...]
Amber Heard slams Johnny Depp trial as ‘incredibly painful’ July 28, 2020 Amber Heard has described ex-husband Johnny Depp’s libel trial at the High Court as “incredibly painful”, adding that it has been “traumatic” to broadcast intimate details of her life to the public over the past few weeks. Depp is suing the Sun’s publisher News Group Newspapers (NGN) and the Sun’s executive editor Dan Wootton over [...]
Boeing to pay $2.5 billion to settle U.S. criminal probe into 737 MAX crashes January 8, 2021 Plane maker Boeing will pay over $2.5bn to resolve the US Justice Department's investigation into two deadly 737 Max crashes that killed 346 people, the Justice Department said