Business card puts Greensill founder at the heart of Downing Street
TheGuardian
MARCH 30, 2021
The card describes Greensill as “Senior Adviser, Prime Minister’s Office”, and gives a personal No 10 email address at which he could be contacted.
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TheGuardian
MARCH 30, 2021
The card describes Greensill as “Senior Adviser, Prime Minister’s Office”, and gives a personal No 10 email address at which he could be contacted.
TheGuardian
MARCH 22, 2021
From the role of David Cameron to the actions of the Treasury and regulator, the need for an investigation is pressing The Treasury select committee doesn’t want to launch an inquiry into Greensill Capital – at least not yet. It is also about the terms on which politicians and officialdom should engage with business.
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TheGuardian
MARCH 26, 2021
Exclusive: UK’s state-owned bank was concerned over loans to Sanjeev Gupta’s steel empire Britain’s state-owned business bank launched an investigation into Greensill Capital, and loans it extended to Sanjeev Gupta’s steel empire, months before the lender collapsed into administration, the Guardian has learned.
TheGuardian
FEBRUARY 2, 2024
Company draws Greensill Capital founder and Gupta’s Liberty businesses into case at high court in London The Swiss insurer Zurich alleges it has been the victim of fraud in a counter-claim in London over the demise of the Greensill business empire, drawing the financier Lex Greensill and the metals magnate Sanjeev Gupta into a £320m court battle.
PYMNTS
OCTOBER 8, 2020
London-based supply-chain finance company Greensill Capital is looking for an infusion of funds amid monetary setbacks, sources told the Wall Street Journal (WSJ) on Thursday (Oct. Greensill strives for quick payment to suppliers at a discount, which gives its clients a breathing period to conserve cash. listed NMC Health.
PYMNTS
JUNE 16, 2020
Greensill, which provides working capital finance for customers around the world, has acquired Latin America-based lender Omni, a lender to small and medium-sized businesses (SMBs). Greensill, the release said, has provided $143 billion in financing to over 8 million customers in over 175 countries.
PYMNTS
OCTOBER 29, 2020
A number of large accounting groups have turned down requests to audit Greensill Capital as the SoftBank -backed firm mulls a stock market listing, the Financial Times (FT) reported. Any business reviews its suppliers as they grow and their needs change,” Greensill said in a statement, per FT.
PYMNTS
JULY 6, 2020
Greensill is aiming to offer financial assistance to pharmacies in the United Kingdom with a payment technology it created with the NHS Business Service Authority (NHSBSA), according to an announcement. As of July 2018, Greensill has worked with more than 1,000 pharmacies, making over 1.2 billion pounds ($1.5
PYMNTS
JULY 22, 2020
The funds include a Credit Suisse Group AG fund and three linked funds that provide short-term funding to small- to medium-sized businesses (SMBs). At issue is the funds have assets that come from Greensill Capital and Softbank owns a significant stake in that U.K. SoftBank didn’t have an immediate comment.
PYMNTS
JANUARY 6, 2020
Supply chain financing company Greensill Capital is gearing up to launch its first consumer-facing product, a mobile app connecting employees to access to earned wages on-demand. million suppliers to the millions of employees who work for our customers,” Founder Lex Greensill said in an interview with the publication.
PYMNTS
MAY 7, 2020
With “formal notice” provided to its clients that demand lengthier payment cycles, supply chain finance company Greensill said it has provided a last warning to firms that use its offerings to extend small business payment terms further than 30 days.
PYMNTS
FEBRUARY 10, 2020
A position paper released by Kate Carnell, the Australian Small Business and Family Enterprise Ombudsman (ASBFEO), calls for a fairer approach to supply chain financing. Supply chain finance is a legitimate and effective tool that can be used to free-up cash flow for small and family businesses,” Carnell said in the position paper.
PYMNTS
JUNE 18, 2020
If payments were required within 30 days throughout the whole economy, financing company Greensill says large companies would need to quickly locate $65 billion in working capital. ” She continued, “That’s why it is more important than ever to ensure small businesses are paid on time.”.
TheGuardian
MARCH 4, 2021
The loans were underwritten by an insurance company, Tokio Marine, which was in a legal battle with Greensill, where former UK prime minister David Cameron is an adviser.
TheGuardian
MARCH 9, 2021
Greensill filed for insolvency on Monday, prompting concerns that the failure puts jobs at risk at one of its biggest borrowers, the metals manufacturer GFG Alliance Group. Greensill allows businesses such as GFG to borrow money to pay their suppliers.
TheGuardian
JULY 6, 2021
The National Audit Office said the government-owned British Business Bank [BBB] carried out limited due diligence on the firm’s application before giving permission to access the Coronavirus Large Business Interruption Loans Scheme (CLBILS). What is Greensill Capital? Continue reading.
PYMNTS
DECEMBER 20, 2018
Alternative lender Greensill has released new research on how much vendors and manufacturers of holidays gifts and products will be waiting on in their accounts receivable departments. “Many companies pay their bills in 90 to 180 days,” Greensill added. The company said Wednesday (Dec. The company said Wednesday (Dec.
TheGuardian
MARCH 31, 2021
Cameron took it upon himself to reform “the far-too-cosy relationship between politics, government, business and money”, which he said had “tainted our politics for too long”.
PYMNTS
OCTOBER 29, 2019
The SoftBank Vision Fund has invested an additional $655 million in supply chain financing firm Greensill Capital, just months after contributing an $800 million investment in an earlier funding round. 28) said Greensill Capital has now raised a combined $1.7 Reports in Crunchbase on Monday (Oct.
PYMNTS
OCTOBER 1, 2019
Calling for new requirements to improve the transparency of corporates’ use of reverse factoring, Moody’s noted that few businesses actually disclose their use of this supply chain financing tool, while others may not adequately understand the risks associated with it. A History Of Skepticism.
TheGuardian
MARCH 3, 2021
Greensill, which allows businesses to borrow money to pay their suppliers, is expected to file for administration in the UK within days. It is the latest blow to the supply chain finance firm, which counts David Cameron as an adviser. Continue reading.
TheGuardian
APRIL 27, 2021
Magnate may be compelled to give evidence as business committee launches inquiry in wake of Greensill Capital collapse The steel magnate Sanjeev Gupta could be summoned in front of MPs after the parliamentary business committee launched a formal inquiry into Liberty Steel following the collapse of its largest lender, Greensill Capital.
TheGuardian
MARCH 5, 2021
Investments in loans linked to ailing supply chain bank closed, adding to fears for British steel industry Credit Suisse is winding down specialist funds worth $10bn (£7.2bn) that were mostly invested in loans linked to Greensill, the crisis-hit supply chain bank.
PYMNTS
JULY 9, 2019
Supply chain financing company Greensill is in the spotlight for allegations of providing a false statement on bonds sold by metals tycoon Sanjeev Gupta, reports in Reuters said on Sunday (July 7). The claims are the latest backlash to hit Greensill and GAM, which together operate the controversial GAM Greensill Supply Chain Finance fund.
PYMNTS
JUNE 19, 2020
Supply chain financing company Greensill revealed its acquisition of Colombia-based Omni, a small- to medium-sized business (SMB) lender that will enable Greensill to strengthen its Latin American footprint. It was a big week for B2B FinTech startups in Latin America.
TheGuardian
JUNE 29, 2021
Officials’ emails to British Business Bank raise more questions about Greensill’s lobbying in Whitehall Government officials emailed the British Business Bank eight times for updates on Greensill Capital’s Covid loan requests, MPs have been told, raising further questions about the failed finance firm’s influence across Whitehall.
TheGuardian
MARCH 2, 2021
Greensill Capital is seeking insolvency protection in Australia and a rescue deal with new and existing backers, after two Swiss banks announced they were closing funds linked to the business over concerns about its true value.
TheGuardian
MAY 24, 2021
Sale of aerospace supplier proposed as lenders try to claw back cash after Greensill collapse Liberty Steel has said it plans to sell its aerospace steel business based in Yorkshire as part of a restructuring deal as it tries to ensure its survival. Gupta met Credit Suisse representatives in Dubai, where he is currently based.
PYMNTS
MAY 13, 2019
billion from a supply chain investment fund operated by GAM and Greensill, reports in Financial News said Friday (May 10). The GAM Greensill Supply Chain Finance fund was worth about $2.58 In a statement, a GAM spokesperson said the supply chain finance fund’s value fluctuations “are … a regular part of this business.”
PYMNTS
JUNE 29, 2020
. “The stability in invoice volumes and transaction volumes suggest that our customers are managing their businesses during the current situation without major disruption,” Medius CEO Per Åkerberg said in a statement. The United Arab Emirates saw the largest increase in overdue invoices, the report revealed. ” $1.3
PYMNTS
JULY 1, 2020
businesses, especially small to medium-sized enterprises (SMEs). Two months ago, the Treasury had asked for feedback on the scheme to help funnel more money to businesses hurting for cash in the pandemic. The program was nixed after ministers decided it wouldn’t be likely to really help the majority of U.K.
TheGuardian
MAY 12, 2021
Regulator to review mechanism that allowed now collapsed bank to operate in UK without a licence The head of the UK financial regulator has promised to consider imposing restrictions on a system that allowed the now collapsed bank Greensill Capital to operate in the UK without a licence. Continue reading.
TheGuardian
MARCH 3, 2021
Founder who employed David Cameron as an adviser was previously lauded for small business financing Lex Greensill likes to tell his story. He refuses, however, to talk about his current predicament, as Greensill Capital, the controversial bank he founded in 2011 with his brother Peter, a farmer, teeters on the brink of collapse.
TheGuardian
MARCH 31, 2021
Bank acts to recoup funds through courts against metals trading firm as Gupta tries for “standstill” deal with Greensill administrators Credit Suisse has begun court action to push a $4bn trading business belonging to the metals magnate Sanjeev Gupta into insolvency, as it tries to recoup losses.
TheGuardian
MARCH 29, 2021
The Greensill Capital affair sums up what is wrong with a cosy revolving-door culture in British politics. According to reports at the weekend, between 2012 and 2015 the company’s Australian owner, Lex Greensill, was informally allowed the run of Whitehall by Mr Cameron and his cabinet secretary, Sir Jeremy Heywood. It must not be.
TheGuardian
APRIL 22, 2021
Furthermore, FINMA announces that it opened proceedings against the bank in the context of the “Greensill” case in March 2021. in pre-market trade after results [link] 7.37am BST Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. billion Swiss francs.
PYMNTS
OCTOBER 4, 2019
based alternative small business lending isn’t dead with investors and an India startup landed more than half a billion dollars. DiviPay offers a virtual card generation tool that enables businesses and their managers to oversee employee spend, set controls and analyze expense behavior. See all of the latest B2B fundraises below.
TheGuardian
APRIL 6, 2021
The Swiss bank is reeling from heavy exposure to Archegos and the business bank Greensill, which suffered successive but unrelated financial blow-ups. Continue reading.
TheGuardian
APRIL 6, 2021
higher at the start of trading 8.02am BST European stocks are off to a positive start in the first trading day since the Easter long weekend: 7.56am BST Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. billion Swiss franc hit (£3.4bn) over the Archegos Capital fallout.
PYMNTS
MARCH 19, 2019
billion GAM-Greensill Supply Chain Fund, run by GAM Holding and Greensill Capital. Yet, while it may benefit the company, the late payments leave suppliers short on cash, something Lorence Nye, a policy advisor for the Federation of Small Businesses (FSB), refers to as “supply chain bullying.”
PYMNTS
MAY 28, 2020
“The cost of such deals compared to the cost of being out of business is not really a choice,” he told the news service. Flake said Ford is working with Greensill, a London-based provider of capital finance for businesses globally. They intend to expand, she added.
PYMNTS
DECEMBER 12, 2019
Securities and Exchange Commission is turning its attention to a lack of transparency within corporates’ investor disclosures as more businesses use supply chain financing. According to McCord, the SEC recognizes a rise in supply chain finance use as more businesses turn to the trade finance tool to strengthen cash flows.
PYMNTS
DECEMBER 14, 2020
Delayed and late B2B payments are a global issue, but this week's B2B Data Digest shines a spotlight on two markets that are elevating the fight against late invoice payments to small businesses. According to small business and family enterprise ombudsman Kate Carnell, the policy is "a huge move that helps cash flow.".
PYMNTS
DECEMBER 20, 2018
Greensill: Holiday Impact on Late Payments Will Be $110B. Manufacturing, shipping and selling the gifts being purchased during the holidays this year will force businesses in the supply chain to be waiting on $110 billion, an 18 percent increase from last year. Data shows that this coming Saturday — Dec.
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