Upmanyu

Bulk of Stenn’s $1 Billion Debts Remain Outstanding Amid Probe Officials overseeing the wind-down of Stenn Technologies, the UK invoice-finance firm backed by Wall Street investors, have recovered about one tenth of the funds owed so far as they continue to probe...

Stenn, the Wall St.-backed invoice-finance firm, was owed ~$1b when it collapsed in Dec. 2024. This was supposedly made up of short-term invoices owed by big corps around the world. Yet admins have only tracked down £93m of it so far. Story via @bloomberg.com

Gift link here: tinyurl.com/ycx5ad2j

Wagner-Backed Group Jailed for Arson Attack on London Firm A group of men at the center of an arson attack backed by Russia’s Wagner Group targeting a London warehouse that supplied goods to Ukraine were sentenced to as long as 17 years in jail.

Thia case is all about attempts by Russia to exert influence in the UK by using young men who are prepared to be radicalized and betray their country for easy money, the judge said.
www.bloomberg.com/news/article...

“His sentence on conviction sent shockwaves through the financial community.”

Ex-UBS Trader Hayes Asks UK’s Top Court to Overturn Libor Rigging Conviction
www.bloomberg.com/news/article...

Pic: Tom Hayes before entering the Supreme Court this morning.

Microsoft’s $13 Billion OpenAI Investment Cleared by UK Watchdog Microsoft Corp.’s $13 billion investment into OpenAI Inc. was cleared by the UK’s antitrust watchdog, ending months of uncertainty over the tie-up.

Microsoft’s $13 billion investment into OpenAI cleared by the UK’s antitrust watchdog, ending months of uncertainty over the tie-up
www.bloomberg.com/news/article...

Interesting data shared by the Competition & Markets Authority.

2024
Of all considered mergers, only 0.2% were blocked or abandoned.

2023
Of all considered mergers, only 0.5% were blocked or abandoned.

Merger outcomes in 2022
Of all considered mergers, only 0.8% were blocked or abandoned.

Was about to run a search on Keir Starmer's letter to regulators on ideas to boost growth a couple of weeks back.
But Google's next word prediction had other ideas:

Google’s Anthropic AI Investment Cleared by UK Antitrust Agency Google’s partnership with AI firm Anthropic has avoided further scrutiny after the UK antitrust watchdog concluded it doesn’t qualify for a full blown investigation under merger rules.

Google’s $2 billion investment into AI firm Anthropic just avoided a full blown antitrust scrutiny by the UK's Competition and Markets Authority. www.bloomberg.com/news/article...

Sibanye Loses UK Suit Over $1 Billion Brazil Mine Deal Sibanye Stillwater Ltd. unlawfully terminated a $1.2 billion deal for two Brazilian mines with private equity firm Appian Capital Advisory, a London judge ruled.

Sibanye Stillwater unlawfully terminated a $1 billion deal for two Brazilian mines with private equity Appian Capital Advisory, a London judge ruled www.bloomberg.com/news/article... via @bloomberg.com

Insider Trader Accused at UK’s Top Court To Block US Extradition A trader accused by the US of making nearly $2 million from insider dealing is set to go before the UK Supreme Court in a last ditch attempt to block his extradition.

A trader accused by the US of making nearly $2 million from insider dealing is set to go before the UK Supreme Court in a last ditch attempt to block his extradition www.bloomberg.com/news/article... via @bloomberg.com

Howden Alleged to Have Poached Insurance Rival’s Team in UK Suit One of the UK’s top insurers is accused of using a team of “recruiting sergeants” to poach talent from a rival that led to mass resignations in Brazil and London.

One of the UK’s top insurers is accused of using a team of “recruiting sergeants” to poach talent from a rival that led to mass resignations in Brazil and London www.bloomberg.com/news/article... via @bloomberg.com

Planes Seized by Russia Spark Multibillion Dollar Insurance Spat Insurance companies are trying to delay billions of dollars of claims for hundreds of aircrafts seized in Russia, lawyers for some of world’s top aircraft leasing companies alleged at the start of a L...

Russia's refusal to return hundreds of jets leased to local airlines after the invasion of Ukraine and the sanctions sparked insurance claims worth billions of dollars.
Read more in my story as a UK trial expected to have "seismic" long-term implications kicks off:
www.bloomberg.com/news/article...

Ticketmaster Faces UK Probe Over Oasis Ticket Pricing Live Nation Entertainment Inc’s Ticketmaster is facing a UK investigation over the recent sale of tickets for Oasis concerts, after widespread complaints about the use of dynamic pricing that saw fans...

The outrage over how tickets were sold for the rock band’s reunion concerts, after 16 years apart, has triggered an investigation into Ticketmaster and its dynamic pricing.

www.bloomberg.com/news/article...

Chinese Suspects in $37 Billion Loan Fraud Face UK Investigation A couple accused in China of leading a fraud worth 262.5 billion yuan ($37.7 billion) are facing a British investigation into how they built up a multi-million pound property portfolio in the UK, acco...

A couple accused in China of leading a fraud worth $37.7 billion are facing a British investigation into how they built up a multi-million pound property portfolio in the UK www.bloomberg.com/news/article...

Tiktok Sued in UK by Content Moderator Alleging Toxic Workplace ByteDance Ltd.’s TikTok was sued by a content moderator in the UK alleging disability discrimination and a toxic work environment that caused her stress and pregnancy complications.

ByteDance Ltd.’s TikTok was sued by a content moderator in the UK alleging disability discrimination and a toxic work environment that caused her stress and pregnancy complications.
www.bloomberg.com/news/article...