AvatarThe TelegraphAvatarAvatar9 hours agoMike Lynch masterminded ‘multiyear, multilayered fraud’, court hearsThe Telegraph - Alex SingletonJames TitcombMike Lynch has been accused of masterminding a “multiyear, multilayered fraud” at Autonomy that tricked HP into massively overpaying for the business. On the first day of Mr Lynch’s criminal trial in San Francisco on Monday, the court heard accusations that the tech entrepreneur “spun a fabulous …
AvatarThe TelegraphAvatarAvatar3 days agoReckitt suffers £7bn share price fall as baby formula lawsuits mountThe TelegraphConsumer goods giant Reckitt has suffered a £7bn share price slump after it lost a US legal case claiming its baby formula contributed to the death of a premature child. London-listed Reckitt’s share price plunged by the most in two decades and to its lowest point in more than a decade after an …
AvatarThe TelegraphAvatarAvatar9 hours agoEvergrande accused of £60bn fraud by Chinese authoritiesThe Telegraph - Tim WallaceEvergrande, the world’s most indebted property developer, has been accused of fraudulently inflating its revenues by £62bn. The China Securities Regulatory Commission said Hui Ka Yan, the founder of property giant Evergrande, “instructed other personnel to falsely inflate” the company’s accounts in …
AvatarThe TelegraphAvatarAvatar1 day agoEncyclopedia Britannica plots $1bn stock market listingThe Telegraph - Hannah BolandEncyclopædia Britannica is preparing to join the US stock market with a hoped-for $1bn (£850m) valuation. The publisher behind the centuries-old encyclopædia is in talks about a market debut that could come as soon as June, according to Bloomberg. The company, which is known for publishing the oldest …
AvatarThe TelegraphAvatarAvatar10 hours agoElectric lorry maker backed by David Beckham collapses into administrationThe Telegraph - Matt Oliver,An electric vehicle (EV) start-up backed by celebrities including David Beckham and Jack Whitehall has put its commercial arm into administration, blaming the Government’s decision to delay a ban on petrol car sales. Lunaz Group, which retrofits combustion engine vehicles with electric powertrains, …
AvatarThe TelegraphAvatarAvatar1 day agoHeathrow has lost its status as a global transport hub, says Dubai Airports bossThe Telegraph - Luke BarrHeathrow’s inability to expand means it has lost its status as a global transport hub, the boss of Dubai Airports has said. Paul Griffiths, formerly managing director of Gatwick Airport before he moved to the Middle East, said Heathrow is suffering from a shortage of capacity amid an ongoing debate …
AvatarThe TelegraphAvatarAvatar11 hours agoMy ketamine prescription is in the best interests of Tesla investors, says Elon MuskThe Telegraph - James TitcombElon Musk has said his use of ketamine to manage his mood should be welcomed by investors, suggesting it has helped Tesla become the world’s most valuable carmaker. “From the standpoint of Wall Street, what matters is execution. Are you full value for investors?” Mr Musk said in an interview when …
AvatarThe TelegraphAvatarAvatar11 hours agoDon’t use ‘threatening’ tone when chasing debts to protect borrowers’ mental health, companies toldThe Telegraph - Melissa LawfordCompanies have been told not to use a “threatening” tone when chasing debts amid fears they could harm borrowers’ mental health. Banks and utility suppliers are among those being urged by regulators not to overwhelm customers with debt collection letters and to use “supportive” language when seeking …
AvatarThe TelegraphAvatarAvatar22 hours agoGiving up oil is a 'fantasy', says Saudi Aramco chief - latest updatesThe TelegraphDitching oil and gas is a “fantasy” amid increasing demand, one of the world’s most powerful oil and gas bosses has said. Amin Nasser, chief executive of Saudi Aramco, said the transition to net zero is “visibly failing” with oil demand set to rise for “some time to come”. “The current discourse on …
AvatarThe TelegraphAvatarAvatar12 hours agoCut borrowing or face debt crisis, warns top central bankerThe Telegraph - Tim WallaceGovernments must stop their “relentless” borrowing or risk plunging the world into a debt crisis, a top central banker has warned. Agustin Carstens, who leads the Bank for International Settlements, a global club of central bank bosses, warned global leaders that interest rates would not return to …
AvatarThe TelegraphAvatarAvatar13 hours agoDeloitte plans biggest shake-up in decades as dealmaking dries upThe Telegraph - Matt Oliver,Deloitte is planning its biggest shake up for a decade as the Big Four consulting giant grapples with a global downturn in dealmaking. The overhaul will reportedly see the business cut itself down from five to four divisions in a bid to slash costs. It is expected to take a year and will be …