Crispin Odey drops £79m libel claim against FT over sexual misconduct allegations

Crispin Odey, the former hedge fund manager, has dropped his £79m libel claim against the Financial Times over its reporting of sexual misconduct allegations against him, his lawyers have said.In 2023, the FT published several articles from 20 women alleging sexual assault and harassment against Odey, covering a period of five decades. He has previously denied the allegations against him.On Friday, lawyers for the former hedge fund tycoon, 67, said he had been “forced to accept” that the newspaper was “likely to succeed in establishing” its public interest defence.A letter said: “Having just endured the stress and strain of a three-week trial in the Upper Tribunal, he does not wish to pursue another lengthy trial at considerable cost, only to fail on the issue of public interest, even if he was successful, as he believes he would be, in demonstrating that he is not the violent predator he was presented as being in the articles

Starbucks’s retail arm gets £13.7m tax credit even as sales increase

Starbucks’s UK retail arm received a £13.7m corporation tax credit last year, even as its sales increased 6% and it added more than 90 stores.The credit, which can be used to offset future tax bills, comes after losses widened to £41.3m in the 12 months to the end of September – almost matching the £40m it paid in royalty and licence fees to its parent company.Starbucks said price increases, new loyalty schemes and the introduction of “freshly baked in-store food” had helped to increase sales to £556

European airports ‘face jet fuel shortages within three weeks’; Irish army called in over fuel protests - as it happened

Time to wrap up…European airports have warned the EU that jet fuel shortages could hit the summer holiday season if oil supplies do not start to flow through the strait of Hormuz within the next three weeks.Airports Council International (ACI) Europe reportedly wrote to EU transport commissioner Apostolos Tzitzikostas saying that the bloc is three weeks away from shortages. The letter was first reported by the Financial Times.The warning will raise concerns of a risk of flight or holiday cancellations if the US and Israel’s war on Iran continues. Oil prices have soared since the start of March after Iran effectively closed the strait of Hormuz, a key shipping route for exports from the Gulf, in retaliation

US inflation soars in March as war on Iran drives economy into uncertainty

US inflation soared in March amid the US-Israel war with Iran, with prices up 0.9% compared with last month and 3.3% over the year, according to new data released on Friday.The spike in the consumer price index (CPI), which measures the price of a basket of goods and services, is the largest in nearly two years and the first official measure of how the conflict has affected US consumer prices, particularly as Iran blocked the strait of Hormuz, through which a fifth of the world’s oil and gas would typically pass.The index for energy rose 10

Welcome to Y’all Street: bullish Dallas aims to steal New York’s financial crown

As the warm sun rises over the Dallas skyline, SUVs and pickup trucks whiz past an unassuming construction site that is helping cement the city’s Texas-sized financial ambitions.Nestled between towers claimed by Bank of America and JP Morgan, Goldman Sachs has cordoned off 800,000 sq ft for a new Dallas campus able to host more than 5,000 staff. But the $700m (£530m) project is more than a regional expansion plan by one of America’s largest banks. It is another win for the lobbyists behind Dallas’s “Y’all Street” – the Texan city’s aggressive push to steal New York’s financial crown.The Dallas-Fort Worth metro area, once a fly-in, fly-out stopover for bankers, has seen its financial sector workforce boom over the past decade, surging 40% to 386,000 staff

The daughters of Dominican immigrants achieved the American dream. They’re bringing sweet chocolate success back to the homeland

Janett and Erika Liriano grew up in Queens, the daughters of Dominican immigrants who pushed them to dream big. Their encouragement paid off: by the time they were in their late 20s, Janett had been named a Forbes 30 Under 30 Listmaker and was the chief of staff at a biopharmaceutical firm; younger sister Erika was making a name for herself in venture capital.But something was missing. “We were both comfortable but not happy with our jobs,” Janett said. “I felt unfulfilled and anxiously wanted to move forward