Crispin Odey’s One-Week Downfall Was Decades in the Making
Allegations of sexual abuse and harassment against its founder have triggered a spectacular break up of Odey Asset Management.
Bloomberg Business
OTP’s Romanian Unit Attracts UniCredit, RBI Bids
Italy’s UniCredit SpA, Austria’s two top banks and Romania’s largest lender are interested in buying the Bucharest-based unit of OTP Bank Nyrt., in a deal that may value the business at €300 million ($329 million) or more, people with knowledge of the matter said.
SBB’s Teetering Empire Triggers Calls for Public Intervention
During the era of low interest rates, Swedish landlord SBB built itself into a $13 billion behemoth by taking on cheap debt to snap up schools and health-care centers that local governments were looking to offload. Now, the company at the center of the country’s real estate crisis is facing off against local councils that want their properties back.
Lithuania Targets Dual-Use Products to Russia in Signal to EU
Lithuania plans to unilaterally ban a swathe of dual-use goods that may enter Russia via Belarus and potentially end up on the battlefield in Ukraine, raising pressure on the European Union to tighten restrictions targeting Moscow.
Crispin Odey Resigns From Lloyd’s of London Firm Amid Scandal
Crispin Odey has stepped back from an investment fund focused on the Lloyd’s of London insurance market in a sign of the fallout from sexual harassment allegations against the hedge fund founder spreading to his other holdings.
ECB’s Villeroy Urges Caution Over Bets on Future Rate Hikes
European Central Bank Governing Council member Francois Villeroy de Galhau said investor bets on interest-rate hikes are “excessively volatile” and urged against drawing premature conclusions on where borrowing costs may eventually peak.
China Faces Pressure to Boost Economy, But Rate Cuts May Not Be Enough
Expectations are growing that China’s government will boost spending on infrastructure as part of a broader stimulus push following the central bank’s interest rate cuts.
Vietnam EV Maker’s Loss Widens Ahead of US SPAC Listing Push
VinFast’s net loss widened to 14.1 trillion dong ($599 million) in the first quarter ahead of a bid by the Vietnamese electric-vehicle maker to go public in the US this year.
Harlan Crow’s Stonewalling Over Gifts to Justice Thomas Tests Senate’s Power
Harlan Crow, the conservative billionaire who bestowed luxurious trips and private real estate deals on Supreme Court Justice Clarence Thomas and his family, is signaling a will to do what auto-industry chieftains and Wall Street titans dared not: defy a Senate subpoena.
Intel Plans $4.6 Billion Polish Fab as EU Hub Picks Up Pace
Intel Corp. said it plans to invest $4.6 billion to build a semiconductor assembly and test facility in western Poland, its latest project in the European Union as the bloc seeks to boost chip production amid rising geopolitical tensions.
