There was no boycott, outraged customers didn’t flock elsewhere. On the contrary, the response was to buy even more of Boohoo’s clothes than before. I am reminded of a recent conversation with the boss of one of Britain’s most ethical retailers who readily conceded that his own approach had limits. […]
scandal
Investors launch case against Hargreaves Lansdown for role in Neil Woodford scandal
Britain’s largest fund shop Hargreaves Lansdown is facing a second legal claim for its part in promoting Neil Woodford’s defunct fund that lost investors millions of pounds. Law firm Slater and Gordon claims there is a case for Hargreaves to answer after it plugged the Woodford Equity Income fund on its Wealth 50 […]
Goldman Sachs pays $3.9bn to settle 1MDB scandal
Goldman Sachs will pay $3.9bn (£3.3bn) to Malaysian authorities following a massive fraud in which the country’s sovereign wealth fund was allegedly raided to buy Picasso paintings, jewellery and a mega-yacht. The settlement ends a long-running investigation over Goldman’s role raising money for the scandal-hit 1MDB fund in 2013. It […]
Ex-Japanese minister and wife arrested in campaign finance scandal
TOKYO — Japanese prosecutors on Thursday arrested former justice minister Katsuyuki Kawai and his upper house lawmaker wife, Anri, over campaign finance issues, dealing a major blow to Prime Minister Shinzo Abe. Katsuyuki, a 57-year-old member of the lower house, is suspected of having bribed local assembly members who helped […]
Scandal looms as DIY investors are ignored by firms that sell their shares on the cheap
Richard Wilson of Interactive Investor, another fund shop, said the process was akin to owning 25pc of a holiday home and finding out that the other owners had taken 10pc off you at half the price. “The fact that it’s legal is astonishing,” he said. “It flies in the face […]
Comfort women scandal shakes South Korean politics and society
SEOUL — South Korea’s ruling party is under fire over a scandal involving an incoming lawmaker who advocated for years on behalf of the so-called comfort women who worked in front-line brothels during World War II. In a pair of emotional news conferences, Lee Yong-soo, a 92-year-old former comfort woman, […]
Luckin Coffee fires top executives over fraud scandal
NEW YORK — Luckin Coffee has removed its CEO Jenny Qian Zhiya and chief operating officer Liu Jian from their posts, the company said Tuesday, following a flight of investors and company insiders over a high-profile accounting scandal. The termination of the two C-suite executives, along with their resignation from Luckin’s board, comes a little over […]
Bad beans: Luckin fires top executives over fraud scandal
NEW YORK — Luckin Coffee has removed its CEO Jenny Qian Zhiya and chief operating officer Liu Jian from their posts, the company said Tuesday, following a flight of investors and company insiders over a high-profile accounting scandal. The termination of the two C-suite executives, along with their resignation from Luckin’s board, comes a little over […]
Hin Leong scandal adds tarnish to fading Singapore brand
SINGAPORE — To many Singapore observers, the most unsettling aspect of the collapse of Hin Leong Trading was not the speed with which volatile markets pushed one of Asia’s biggest private oil traders $4 billion into the red. More worrying was the admission from the company’s billionaire founder Lim Oon Kuin, […]
High-flying Alibaba executive demoted over personal scandal
BEIJING (FT) — A top Alibaba executive and one-time contender to take charge of the e-commerce giant was demoted on Monday after a personal scandal erupted involving his wife and an internet celebrity who sells goods on its platforms. Jiang Fan, the 34-year-old president of Alibaba’s key Tmall and Taobao […]