For economists, Argentina is the gift that keeps on giving. Is it back to the 80s? January 26, 2022 For economists of a certain age, Argentina is the gift that goes on giving. For the IMF, it is a recurring nightmare. And for investment bankers, who actually bought into Argentina’s 100-year bond issue in 2017, it ought to be a lesson that they are not as smart as they think they are. Come March, [...]
UK tech tycoon Mike Lynch fails bid to delay US extradition ruling January 26, 2022 British technology tycoon Mike Lynch, who is facing extradition to the US after being accused of fraud, has failed to delay a decision by the Home Office this morning. US authorities accused Lynch of being involved in a multibillion-dollar fraud over the sale of his software company, Autonomy, to Hewlett-Packard in 2011 for £8.5bn, which [...]
Judge says No: Mike Lynch loses High Court battle to delay extradition to US January 26, 2022 British technology tycoon Mike Lynch, who is facing extradition to the US after being accused of fraud, has lost the latest stage of a legal battle. Lynch wants Home Secretary Priti Patel to be given more time to make an extradition decision. He mounted a High Court challenge after a judge who oversaw an extradition [...]
Live to fight another day: Amigo Loans’ stock makes much-needed 22 per cent comeback after two days from hell January 26, 2022 Amigo Loans share price is climbing this morning, recording a 22 per cent increase after two dramatic days. Yesterday, the lender’s stock dropped nearly a third after the company said late on Monday night that its chief financial officer, Mike Corcoran, will step down immediate effect. “The Company anticipates it will be able to announce the [...]
Today’s Fed meeting: ‘Officials are behind the curve when it comes to dealing with inflation risk’ January 26, 2022 Markets’ main focus is set to be on today’s Fed meeting, and the messaging that is expected to layout the rate path for the rest of the year, starting with a widely expected 0.25 per cent March rate hike. “Last month’s Fed meeting saw the central bank accelerate its tapering program to $30bn a month, [...]
CMA launches probe into £1.9bn merger between National Express and Stagecoach January 26, 2022 The UK competition watchdog said this morning it has launched an investigation into the £1.9bn merger between National Express and Stagecoach due to concerns over the tie-up. The Competition and Markets Authority (CMA) said it had served a so-called initial enforcement order, which stops the companies from fully combining while it considers the deal. Stagecoach [...]
Credit Suisse beats investment banker in London court as £66m espionage case is thrown out January 26, 2022 A former Credit Suisse banker’s £66m lawsuit was rejected yesterday afternoon as a London court found that the banking giant was under no obligation to protect its former employee from the risk of criminal charges while he was working in Romania. Vadim Benyatov had demanded $89m, or nearly £66m, in lost earnings after a court [...]
Westminster nervously awaits Sue Gray report on partygate as police probe shoots to top of Boris Johnson’s priority list January 26, 2022 Foreign Secretary Liz Truss said No 10 had still not received the Sue Gray report on Wednesday morning. Truss was asked on Sky News this morning: “Are we right in saying that Downing Street hasn’t yet received the Sue Gray report?” She responded: “That’s correct. And, of course, it’s an independent report, it’s a matter [...]
Much-talked about £6m lawsuit by The Wolseley owner against insurance giant AXA starts in court January 26, 2022 A much-talked about lawsuit by the owner of The Wolseley and a range of other upmarket restaurants around London against insurance giant AXA has started in London’s High Court. Corbin & King is brining the £6m lawsuit to AXA Insurance over Covid-related losses, in a trial that could have wider ramifications for other UK businesses [...]
Seinfield and Orange Is The New Black star Kathryn Kates dies January 26, 2022 Kathryn Kates, the star of Orange Is The New Black and Seinfeld, has died, according to her representatives. The US actress was described as a “powerful force of nature” with “enough patience to fill 10 ships”. Announcing her death on Instagram, Headline talent agency said: “Our mighty @officialkathrynkates has passed away. “She will always be [...]
