FT News Briefing UK to launch probe into Cameron and Greensill, US states turn to online betting for tax revenue
Apr 13, 2021
An independent inquiry into the lobbying scandal surrounding David Cameron and Greensill Capital is underway, raising questions about government funding access. Meanwhile, Darktrace, a cybersecurity firm, is preparing for a big IPO in London. On the other side of the Atlantic, U.S. states are rapidly adopting online sports betting as a means to fill budget gaps post-pandemic, sparking discussions about its ethical implications. Additionally, the landscape for business travel is shifting, with a potential long-term decline as technology reshapes work dynamics.
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Greensill Inquiry and Gupta's Empire
- The UK government launched an inquiry into David Cameron's lobbying for Greensill Capital.
- Greensill's collapse threatens thousands of jobs globally, particularly in steel, due to its financial ties with Sanjeev Gupta's businesses.
Darktrace IPO and Mike Lynch
- After Deliveroo's disappointing IPO, Darktrace, a cybersecurity firm, plans to list in London.
- The IPO, potentially valuing Darktrace at £3 billion, faces scrutiny due to links with Mike Lynch, who faces fraud charges.
Sports Betting Boom
- US states embrace online sports betting to boost tax revenue after the Supreme Court lifted a ban.
- Leagues and media companies partner with betting firms, seeing it as a way to increase viewership engagement.