Founder of China’s Evergrande jailed for life after pleading guilty to fraud
The founder of Evergrande, one of China’s largest property developers, has been sentenced to life in prison and had all of his personal property confiscated.
Policy & regulation
Sales of trainers dive as cost of living pressures hit JD Sports performance
Sports fashion retailer JD has slashed its profit forecasts as cost-of-living pressures, fuelled by the US war on Iran, weighed on sales of trainers.
Unregulated loan notes and mini-bonds: don't risk your savings on promises of high returns
We banned the marketing of speculative mini-bonds and loan notes to ordinary retail investors from 1 January 2021.
Oxfam ‘can’t guarantee future’ of charity shops as it also reviews warehouse business
Oxfam is reviewing the operations of its three warehouses in Batley, Bicester and Milton Keynes and says it “cannot give guarantees” on the future of its high street shops in a “difficult economic climate”.
US long-term borrowing costs ease after government steps in
Long-term borrowing costs in the US eased on Wednesday after the Treasury department announced it would buy back more debt.
US gross national debt tops $40tn for first time
US debt reached $40tn for the first time on Wednesday, the US treasury department said, after the government deficit doubled over the last decade.
Can Andy Burnham rewire the ‘Treasury brain’ to boost growth?
Andy Burnham is far from the first prime minister to dream of taming the power of the mighty Treasury.
FCA fines and bans former SVS Securities CEO
Mr Hadjigeorgiou was the former director and chief executive officer (CEO) of SVS Securities Plc (SVS), a discretionary fund manager.
Lewes derailment: images show track defect before incident on hottest day
Rail operators have apologised after a report into last Thursday’s derailment in East Sussex found a track defect on the approach to where the train derailed on the hottest day of the year so far.
British energy bills forecast to hit three-year high this winter
Expected quarterly price cap rise of 4% likely to wipe out benefits of Andy Burnham’s VAT cut on electricity bills
Jaecoo owner Chery takes ‘next step’ in UK push with R&D centre
The Chinese carmaker behind the irreverently nicknamed “Temu Range Rover” is plotting further UK expansion with a major research and development centre in England.
Inflation is heating up but don't expect another crisis
The fallout from the war in Iran cranked up the heat on households last month as energy bills rose - how uncomfortable could inflation get from here?
Trainline, Virgin Atlantic and Red Driving School investigated over hidden fees
The UK’s competition watchdog has launched investigations into Trainline, Virgin Atlantic and Red Driving School over concerns that all three companies displayed misleadingly low prices to their customers.
US treasury doubles debt buyback to steady bond market amid inflation fears
The US treasury is doubling its buyback of government debt in an effort to balance out the bond market as officials at the US Federal Reserve remain divided over how to deal with high inflation.
Dog food recalled after reports of pets losing their sight
A dog food brand has recalled all of its fresh meals after reports that a recipe change may have caused some animals to develop an eye condition that, if left untreated, can lead to sight loss.
Hormuz shipping traffic slows as Iran war uncertainty persists - Reuters
An Iranian lawmaker said Tehran would respond in kind if the US used a nuclear weapon against Iran, commenting on a media report about the possibility of such an attack, according to local media on Wednesday.
Christine Lagarde: Panel remarks about the European economy during a discussion on the global economic outlook at the World Economic Forum
Europe’s post-war growth model rested on three mutually reinforcing pillars. Today, all three are weakening as the international environment changes.
UK relies on heat-stressed countries for fruit and veg it could grow itself – report
The UK is vulnerable to food price shocks because of its dependence on imports of fruit and vegetable from countries even more exposed to the climate crisis, researchers say.
US states accuse Meta of covering up research on teen social media addiction in pivotal trial
Lawyers representing 29 US states have accused Meta of covering up internal research showing Instagram was addictive for teenagers. In a packed courtroom Tuesday, on the opening day of a landmark legal challenge, they s…
Global borrowing costs hit fresh highs on oil, AI and inflation
Long-term borrowing costs across some of the word's biggest economies hit fresh highs because of concerns over inflation, government debt levels and spending on Artificial Intelligence (AI).
OpenAI announces slowing pace of development after hack by rogue agent
OpenAI on Tuesday said it had slowed down the pace of its AI development while it overhauled its research and training systems.
SEC Proposes New Regulation Crypto Assets
The Securities and Exchange Commission today announced that it proposed new rules, titled “Regulation Crypto Assets,” that would create a clear and fit-for-purpose framework for certain investment contracts involving cr…
SEC Charges Former Executives With Fraud in Connection With $1.9 Billion Collapse of Subprime Auto Lender Tricolor
The Securities and Exchange Commission today charged Daniel Chu, Jerome Kollar, and Ameryn Seibold, the former CEO, CFO, and Senior Director of Finance, respectively, at Texas-based Tricolor Holdings, LLC, for their rol…
Jeff Bezos consortium could be majority Liverpool shareholder within a year
1892 Holdings, the new investor in Liverpool, has first refusal to become the majority shareholder in the next 12 months should Fenway Sports Group decide to sell.