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Financier Crispin Odey’s sexual assault and harassment scandal continues to grow, with six more women coming forward to share their allegations against him. These new allegations expand the timeline of Odey’s abuse to five decades, raising concerns about the tolerance of his behavior by senior colleagues. The women disclosed their experiences after the Financial Times published accounts from 13 women who claimed to have been abused by Odey. Following the article, Odey was removed from Odey Asset Management, and the UK’s Financial Conduct Authority has faced scrutiny regarding its handling of the investigation into the firm.
The six women include former receptionists and an intern who worked at Odey Asset Management. The earliest allegation dates back to 1985 when an interior designer, then 26 years old, reported a violent assault at Odey’s home in London. These new accounts have been supported by documents and interviews with friends and family members of the victims. Odey’s lawyers have previously vehemently denied the initial set of allegations. Odey and Odey Asset Management have not provided any comment regarding these new allegations.
Here are other important updates to keep an eye on today and throughout the weekend:
Central Bankers: European Central Bank President Christine Lagarde will speak at the 23rd Rencontres Économiques d’Aix-en-Provence forum in France today. Her British counterpart, Andrew Bailey, will also speak at the same event on Sunday. Lagarde’s deputy, Luis de Guindos, will address King’s College London today.
Economic Data: The UK will release the Halifax House Price Index, Germany will publish its May industrial production index, and Canada and the US will release employment surveys for the previous month today.
Biden in Europe: US President Joe Biden will begin a two-day visit to the UK on Sunday, where he will meet with Prime Minister Rishi Sunak and King Charles III. He will then travel to Lithuania for the Nato summit.
Companies: Hydrogen company Thyssenkrupp Nucera will make its stock market debut in Frankfurt, and Liontrust Asset Management shareholders will vote on its acquisition of Swiss rival GAM today.
Here are five more top stories:
1. US borrowing costs reached a 16-year high, causing a global sell-off in stocks and bonds. Europe’s Stoxx 600 index experienced its largest one-day drop since March, declining by 2.3%, due to strong US jobs data that increased expectations of further interest rate hikes by the Federal Reserve.
2. Twitter has threatened to sue Meta over Threads, claiming that the new social media app stole the company’s trade secrets. Meta CEO Mark Zuckerberg announced that over 30 million people signed up for Threads within the first 24 hours of its launch. Twitter’s lawyer sent a letter to Zuckerberg addressing the alleged trade secret theft.
Opinion: Tim Bradshaw writes that it feels like 2006 all over again, with a new social network generating excitement and conversation about its possibilities.
3. Taiwan has rejected China’s assertion that it could easily sink the US Navy’s most advanced aircraft carrier strike group. A Beijing-backed institution published a paper about a war game simulation that claimed 24 hypersonic anti-ship missiles could sink the USS Gerald R Ford and its accompanying flotilla “with certainty.”
4. US regulators have approved the first drug shown to slow the progression of Alzheimer’s. Lecanemab, now known as Leqembi, was developed by Japanese drugmaker Eisai and US biotech company Biogen to treat the neurodegenerative disease. This approval opens the door for millions of Americans to access the treatment.
5. The House of Commons Public Accounts Committee has warned that delaying the London terminus for the new HS2 high-speed railway line will cost at least £200 million. The committee also criticized the project’s budget, calling it “unrealistic” from the start. The HS2 project has already faced delays and significant cost overruns.
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