Boris Johnson wants to ‘understand intention’ behind David Cameron lobbying April 13, 2021 Boris Johnson has today said a review into the David Cameron lobbying scandal will seek to “understand what the intention was” behind efforts to implement supply chain financing into government departments. Johnson yesterday launched an independent review into Cameron’s efforts to lobby ministers on behalf of failed finance supply chain finance firm Greensill Capital. The [...]
Credit Suisse pays out another $1.7bn of fund assets linked to Greensill April 13, 2021 Credit Suisse is set to pay out another $1.7bn of funds linked to the now collapsed Greensill Capital. It takes the total distribution to $4.8bn so far, the bank said, following an earlier payout of $3.1bn. The Swiss bank has been mired in controversy in recent weeks due to its exposure to the collapse of [...]
David Cameron ‘open to questions’ over Greensill lobbying April 13, 2021 David Cameron has said he will cooperate with a government inquiry into a lobbying row linked to collapsed finance firm Greensill. Boris Johnson yesterday announced an independent review into the way the former prime minister lobbied health secretary Matt Hancock and chancellor Rishi Sunak on behalf of Greensill and how contracts were awarded. The inquiry [...]
David Cameron ‘accepts’ contact with government should be done through ‘formal channels’ April 11, 2021 David Cameron has broken his silence on his role in lobbying the government on behalf of failed Greensill Capital, saying he “accepts” communication with the government “needs to be done through only the most formal of channels”. Cameron, who was a senior adviser at Greensill, denied any wrongdoing and said “I was breaking no codes [...]
Greensill lobbying row: Matt Hancock ‘had private drink’ with Cameron and Lex Greensill April 11, 2021 Matt Hancock met former PM David Cameron and financier Lex Greensill for a “private drink” in which the pair lobbied the health secretary to introduce a payment scheme that was later offered by the NHS. The “private drink” took place in October 2019 and the trio were joined by Bill Crothers, the former head of [...]
BlackRock and Mustier’s blank cheque firm eye Credit Suisse fund management arm April 9, 2021 BlackRock and Jean-Pierre Mustier’s blank-check firm are among investors expressing interest in Credit Suisse’s asset management arm, three sources told Reuters, as the Swiss lender explores options for the unit after a run of costly scandals. U.S. investment firm State Street Corp is also eyeing a rival bid for all or part of the Swiss [...]
Gupta says ‘aggressive’ creditors threaten steel jobs April 9, 2021 Sanjeev Gupta has today hit out at that the “aggressive tactics” of his steel empire’s creditors were putting tens of thousands of jobs at risk. Since the collapse of supply chain financiers Greensill, Gupta’s GFG Alliance has been teetering on the brink of insolvency, having had a £170m bailout bid rejected by ministers. The firm, [...]
Greensill lobbying row: Rishi Sunak’s texts to David Cameron published April 8, 2021 Texts sent by chancellor Rishi Sunak to David Cameron relating to collapsed finance firm Greensill Capital have been published amid a row over lobbying. The former prime minister is facing an investigation over messages he sent to the chancellor asking for more Covid support for Greensill. In response to a Freedom of Information request, the [...]
US outlines new global plan to tax tech titans April 8, 2021 The US has put forward a new plan on global corporate taxes in an effort to resolve disagreements over upcoming tech tax reforms. President Joe Biden’s administration has submitted proposals that would see tech giants and other large multinational corporations pay higher taxes in countries in which they operate, regardless of their physical presence in [...]
Biden willing to compromise on plans to hike US corporate tax April 8, 2021 US President Joe Biden said last night he is open to compromise on his $2tn (£1.45bn) infrastructure plan amid fiery criticism from businesses over a proposed $2.5tn increase in corporate taxes. Biden faced furious backlash from Republicans, large corporations and members of his own Democratic Party to elements of the proposal he laid last week including major [...]