Markets, banking, capital, credit and macro — the money story behind business news, with attention to City of London developments and the major US and EU venues.
Facing seven-figure losses on his Canadian real estate investments, a French financier took the unusual step of spending his way out of trouble... When Jean-Francois de Clermont-Tonnerre's property investments were facing financial meltdown in 2010 t...
The Ryanair chief executive, Michael O’Leary, said he expected more airlines to go bust as the budget carrier posted a 7% drop in profits because of rising fuel prices and strikes hitting costs and bookings. O’Leary predicted a grim winter for the av...
Tesco Bank has been fined £16.4 million by the City watchdog following a major cyber-attack in 2016. The Financial Conduct Authority (FCA) said the fine was due to Tesco Bank having failed to “exercise due skill, care and diligence in protecting its ...
Billionaire Utemuratov may be positioning himself to become President of Kazakhstan but corruption allegations persist. Billionaire oligarch Bulat Utemuratov has emerged as a potential candidate for the presidency of Kazakhstan but his move into poli...
In January 2013, Jean-François de Clermont-Tonnerre discovered that his business partner had committed a massive fraud at Hottinger & Partners (HPSA), the investment firm they ran. Five years after this discovery, and after Jean-François de Clerm...
Li Qi made his fortune working at Alibaba during the online retailer’s early days but the secretive Chinese businessman has not enjoyed the same success as an entrepreneur. Li was the chief operating officer of Alibaba until 2008 when he quit the ret...
Joseph Kabila, the controversial president of the Democratic Republic of Congo (DRC), is to step down later this year in a move that has surprised the mining industry and prompted concern about investments in the country. Kabila has run the DRC for 1...
Tesla CEO Elon Musk blew Wall Street's mind when, just after the Financial Times reported that the Saudi sovereign wealth fund had invested $2 billion in the company, he tweeted that he was considering taking the 15-year-old company private at $420 p...
Continuing speculation over a no-deal Brexit has left the majority of the British at unease. The government admitted it is stockpiling food and medicines in preparation for such an occurrence, and Trade Minister Liam Fox told Business Insider that Br...
Big banks and software companies are among the most exposed to "key man" risk, according to a recent note from Morgan Stanley. Morgan Stanley looked at the risks of having a hugely important executive such as a CEO or chairman, dubbed a key man, su...
An increasing number of Americans are having their retirement plans slashed by bankruptcy. Since 1991, the rate of people 65 and older filing for bankruptcy has tripled, reports The New York Times, citing a study from the Consumer Bankruptcy Project....
Self-proclaimed roulette code cracker - Richard Jarecki - has died at the age of 86. The medical researcher who became a legandary figure among gamblers around the world and made millions of dollars in European casinos, died on July 25 at the age of ...
