Bitcoin sees major retrace January 11, 2021 Crypto at a Glance After the parabolic excitement of last week, it was back down to Earth with a bang last night for bitcoin fans – albeit somewhat predictably. The leading cryptocurrency by market cap dropped more than $7,000 in a matter of hours – a fall that was echoed across the space, as many alt [...]
French football’s financial crisis: Why Ligue 1’s €3bn deal with Mediapro collapsed and what it means for the Premier League January 8, 2021 Lille OSC are flying high in Ligue 1, into the latter stages of the Europa League — and €125m in debt. This season, financial turmoil off the pitch is tainting the French football club’s on-field success. Last month, Lille’s major creditors JP Morgan and Elliott Management forced the club’s embattled owner Gerard Lopez to sell [...]
The Week in Sportbiz: Fresh fears over Tokyo Olympics; Pound calls for athletes to jump vaccine queue; China’s $900m esports palace January 7, 2021 Tokyo 2020 Olympics organisers have attempted to calm fears that the Games will not go ahead after a state of emergency was declared in the city. Japan’s prime minister Yoshihide Suga announced the measures today in response to a steep rise in Covid-19 cases. The Olympics was rescheduled in response to the pandemic last summer [...]
NYSE reverts to original plan to delist Chinese telecoms firm January 6, 2021 The New York Stock Exchange has announced it will move forward with plans to delist three Chinese telecoms giants just days after u-turning. The exchange will remove US-traded shares of China Telecom, China Mobile and China Unicom “to comply with US law,” it said on Wednesday. The NYSE originally announced its delisting plans last week [...]
Trump issues ban on Alipay in latest China crackdown January 6, 2021 US President Donald Trump today stepped up his campaign against Chinese businesses, banning transactions with eight apps including Alipay. The new executive order is aimed at curbing the alleged threat to Americans posed by Chinese software companies that have access to personal data. The order states that the US must take “aggressive action” against Chinese [...]
Alibaba under investigation by China for monopoly tactics December 24, 2020 Alibaba is under investigation by Chinese regulators for alleged monopolistic practices, in the latest blow for Jack Ma’s fintech and e-commerce empire. The probe is part of an accelerating crackdown on anticompetitive behavior in China’s booming internet space, and the latest setback for Ma, the 56-year-old former school teacher who founded Alibaba and became China’s [...]
London FOIL appoints Weightman’s partner as new president December 14, 2020 London FOIL has just appointed Ling Ong as their new president to lead the organisation through 2021. London FOIL is an arm of the Forum of Insurance Lawyers, concentrating on the global insurance and reinsurance markets. Ling Ong is also a partner at UK law firm, Weightmans. Ong has been appointed to replace the outgoing [...]
Chinese regulator fines Alibaba and Tencent under antitrust laws December 14, 2020 The Chinese markets regulator has fined Alibaba and Tencent for a string of deals in its latest bid to clamp down on tech companies. The State Administration for Market Regulation announced on Monday it had fined Alibaba, Tencent-backed China Literature and Shenzhen Hive Box Technology 500,000 yuan. It comes after the regulator published draft regulations [...]
The CMA sets out new regime for tech giants such as Google and Facebook December 8, 2020 The CMA sets out new regime for tech giants such as Google and Facebook
High-profile tech founders back $111m London startup fund November 30, 2020 A string of big-name tech founders including former Google boss Eric Schmidt are backing a new fund to invest in startups in the US and across Europe. London-based Firstminute Capital today unveiled a $111m (£83m) venture capital fund after securing support from some of the world’s top tech executives. More than 70 founders of billion-dollar [...]