Six more women have alleged that financier Crispin Odey sexually assaulted or harassed them, expanding the timeline of his alleged abuse across five decades and raising further questions as to the extent his behaviour was tolerated by senior colleagues.
The women came forward after the Financial Times last month published the accounts of 13 women who said they had been abused by Odey. Since that article, the hedge fund manager has been ousted from Odey Asset Management and the UK’s Financial Conduct Authority has come under scrutiny over its handling of a long-running probe into the firm.
The six women include two former receptionists and an intern at Odey Asset Management, with the earliest of the new allegations dating back to 1985 when an interior designer, then 26, said she was violently assaulted at Odey’s home in London.
The new accounts have been corroborated through documents seen by the FT as well as through interviews with friends and family members the women confided in. Odey’s lawyers previously told the FT that he strenuously disputed the first set of allegations.
Odey and Odey Asset Management did not respond to requests for comment regarding the new allegations.
Here’s what else I’m keeping tabs on today and over the weekend:
Canada employment: Economists forecast that Canada’s economy added 20,000 jobs in June, following a decrease of 17,300 jobs in May. The unemployment rate is expected to have risen to 5.3 per cent, up from 5.1 per cent.
US employment data: Non-farm payroll figures for June are expected today after data on Thursday did little to dispel the notion the US labour market remains in solid shape. Economists expect the US economy to have added 225,000 jobs in June, down from 339,000 in May. The unemployment rate in June is forecast to have slightly decreased to 3.6 per cent, down from 3.7 per cent in May.
Biden in Europe: US president Joe Biden is due to start a two-day visit to the UK on Sunday, which will include meetings with Prime Minister Rishi Sunak and King Charles III, before he travels to Lithuania for a Nato summit.
Companies: Hydrogen company Thyssenkrupp Nucera makes its stock market debut in Frankfurt today, while Liontrust Asset Management shareholders vote on its acquisition of Swiss rival GAM.
Five more top stories
1. US borrowing costs touched a 16-year high yesterday, prompting a global sell-off in stocks and bonds. Europe’s Stoxx 600 index closed down 2.3 per cent, its biggest one-day drop since March, as strong jobs data in the US intensified expectations of further interest rate increases by the Federal Reserve. Read the full story.
2. Twitter has threatened to sue Meta over Threads, alleging it stole the company’s trade secrets when creating the new rival social media app. Meta chief Mark Zuckerberg said yesterday that more than 30mn people had signed up less than 24 hours after Threads’ launch. Here’s what Twitter’s lawyer wrote in a letter to Zuckerberg.
Opinion: It feels like 2006 all over again, writes Tim Bradshaw. A new social network has set the internet alight with chatter about the possibilities.
3. Brazil’s tax reform has won approval in the lower house of Congress. The legislation, which will amend the constitution, now faces two more votes in the Senate. Finance minister Fernando Haddad said: “After decades, we passed a tax reform. It seemed impossible. It was worth fighting for.”
4. Treasury secretary Janet Yellen defended US companies against Chinese pressure during her trip to Beijing, saying “I am communicating the concerns that I’ve heard from the US business community.”
5. A top Federal Reserve official has signalled her support for a July interest rate rise to tame the US’s ‘hot’ economy. Dallas Fed president Lorie Logan has called on the central bank to resume raising rates after forgoing an increase last month. Read the full story.
How well did you keep up with the news this week? Take our quiz.
The Big Read
Cobalt, the silver metal so abundant in the Democratic Republic of Congo that miners can dig it out with basic tools, is essential for the world’s clean energy transition. Demand is expected to triple by 2035, mainly for electric-vehicle batteries. But the small-scale miners fuelling this transition through “artisanal mining” — a name that belies a rudimentary and hazardous practice — face extreme danger and exploitation.
We’re also reading . . .
Wagner fallout: The Kremlin’s relatively lenient approach to Yevgeny Prigozhin reflects its weakness and has turned Russia “into a banana republic”, says one former official.
Wellness packages for tech founders: Venture capital firm Balderton is to provide nutrition, sleep and mental health advice to entrepreneurs at risk of burnout, writes Tim Bradshaw.
Stars on LinkedIn: Emma Jacobs asks why celebrities such as Ryan Reynolds are joining a site known for its humblebraggers and “thought leaders”.
Chart of the day
The riots in France, sparked by the death of a teenager of North African descent shot dead by police during a traffic stop, show just how entrenched inequalities have become between immigrants and those born in the country, writes chief data reporter John Burn-Murdoch. Despite claims that France is race-blind, the data tells a different story.
Take a break from the news
Find out how a patents expert, a music professor and a software engineer set about cracking a 445-year-old code to reveal the secrets of Mary Queen of Scots.
Additional contributions by Tee Zhuo
Source: Economy - ft.com
