Crypto firm Cred failed due diligence, set ex-UK fugitive in charge of capital raising
The firm’s collapse into bankruptcy was largely due to a dereliction in corporate responsibility By Wednesday March 10, 2021 7:30 am
Cryptocurrency investment platform Cred unwittingly put a convicted financial criminal identified by the UK as a fugitive in charge of raising and deploying the firm’s capital before its collapse into bankruptcy, a court-appointed examiner said.
An examiner’s report filed on 8 March in the US Bankruptcy Court in Wilmington, Delaware, said that Cred failed to keep reliable records, properly track customer funds, perform due diligence on the firm’s investments or uncover the “extremely worrisome past” of former Chief Capital.
Financial News By Wednesday February 17, 2021 8:43 pm
Jersey s financial regulator has weighed in on Neil Woodford s plans to launch his new business on the Channel island, saying it is “disappointed” the former star fund manager has announced plans for his venture without first seeking authorisation.
In a statement issued on 17 February, the Jersey Financial Services Commission said it would be “normal practice” when outlining plans for a new investment business that they are “subject to regulatory approval”.
Woodford.
AstraZeneca plans to roll out variant-resistant vaccine this autumn
The company is working with the University of Oxford to roll out the new vaccine Getty Images Thursday February 11, 2021 12:34 pm
UK pharmaceutical giant AstraZeneca said it is on course to roll out a variant-resistant Covid-19 vaccine in the autumn this year, as clinical trials begin this spring.
The FTSE 100 company announced the schedule as it unveiled its annual results, reported on 11 February.
“In collaboration with the University of Oxford, AstraZeneca is focused.
Dreamstime
Investors have been betting big on shares that can benefit from fiscal stimulus, such as consumer discretionary stocks. But the government isn’t the only one doing a lot of spending many companies are poised to spend the piles of cash they built during the pandemic.
As the pandemic swept the globe,
S&P 500 companies raised more than $2.5 trillion in 2020 through debt and equity issuances, the highest amount in two decades. Meanwhile, share buybacks and capital spending both fell significantly last year as companies faced an uncertain economy. That left firms with war chests to spend: Cash as a percent of total assets for the average S&P 500 company has been sitting at almost 8%, a record level. That’s up from roughly 6% to start 2020, according to Jefferies.