In his maiden speech at the group’s annual general meeting last month, Credit Suisse chair Axel Lehmann gave a brutal assessment of what lay at the heart of the bank’s recent spate of high-profile scandals. “It has become clear that the challenges of the past were not solely attributable to isolated poor decisions or to
How many times can the same chief executive make a “gaffe” before investors should start taking him at his word? Volkswagen CEO Herbert Diess infuriated Ukrainian officials this week by suggesting the EU should prioritise a rapid settlement with the country’s Russian invaders for the sake of economic growth. “I think we should do the
The once-niche carbon market is attracting wealthy individuals in pursuit of a new way to make money. And, at the same time, as society’s concerns over climate change grow, it is providing them with a potential route to a greener portfolio. The rich and their money managers are now taking an interest in the market
Fundraising by China-focused private equity investors has fallen to its lowest level in 13 years, as early-stage backers of the country’s start-up scene grapple with Beijing’s tech crackdown and zero-Covid policies. Venture capital and private equity funds concentrating on the Greater China region raised just $1.7bn in the first quarter of 2022, according to estimates
Assessing a company’s performance based on its social responsibility rather than its balance sheet is no easy task. Environmental, social and governance frameworks that source information from public databases and expert analyses put all the considerations into one equation. The variables of life can make it challenging to produce a trustworthy output. But this difficulty
Tech features in a solid seven of the 38 bills put forward in the UK government’s legislative programme for the next parliamentary session, unveiled in the Queen’s Speech delivered by Prince Charles today. The main theme is the government seeking Brexit benefits by loosening regulations enforced by the EU, reducing requirements and opening up the
Low-cost carrier Wizz Air is exploring launching flights to Saudi Arabia, part of an ambitious expansion strategy as the travel industry emerges from the pandemic. The London-listed airline on Tuesday said it had signed a memorandum of understanding with the Saudi government to explore “airline market development opportunities” in the country, which hopes to expand
The UK’s regulator for payment services is to gain the power to force banks to offer compensation to blameless victims of “push payment” scams, highlighting “disparities” in the current voluntary approach. The proposed measure was announced on Tuesday as part of the financial services and markets bill, alongside a commitment to ensuring continued access to
The big story in crypto-land so far this week is the Terra stablecoin, which has proven to be neither strong nor stable. You’ll probably know already that, by applying the Code is Law principle to monetary policy, Terra wants to become the internet’s reserve currency. You’ll also know that it’s not going entirely to plan.
Most Londoners I know of a certain age have a Gordon’s Wine Bar story – in the days before Tinder, a claret-fuelled blind date in its Stygian cellar was pretty much a rite of passage. Established in 1890, just down the hill from Charing Cross, it’s the oldest wine bar in London. But I’m afraid
Nintendo has announced a 10-for-one stock split to address longtime investor calls to improve corporate governance at the Kyoto-based games maker. The unexpected move would finally allow retail investors to invest in the creator of Mario and Donkey Kong by making shares cheaper to acquire. Other global tech companies, such as Amazon, Alphabet and Tesla