Greensill Capital is a financial services company, based in the UK, that serves the worldwide market. They filed for insolvency protection this Monday, March 8th 2021. Founded in 2011 by Lex Greensill, a prominent billionaire Australian businessman, the company focused primarily on supply chain finance. This writer would not be surprised to see a premiere of a ‘Wolf of Wall Street’’-esque film glamorising the story of this colourful character and the recent explosive collapse of his namesake firm. Let’s tell the story from start to finish - the origins, rise and fall of Greensill Capital, a saga peppered with many recognisable names; Sanjeev Gupta, GAM Investment Fund and David Cameron among them.
Since the beginning of this pandemic athletes have had it rough. The Olympics supposed to be held in 2020 in Tokyo were cancelled and there is still uncertainty as to how they will be taking place this coming summer.
Last Friday Pope Francis departed Rome for a historic apolsitic visit to Iraq. Many have expressed concern for the visit following a recent rise in Covis-19 cases and a series of rocket attacks in the country. Pope John Paul II had cancelled a trip to the region in 2002 after talks with Saddam Hissein disintegrated without agreement. Pope Francis seemed determined for the trip to go ahead despite the difficult circumstances and precedent.The Christian population in Iraq has been persecuted for many years falling from over a million before the US invasion in 2003 to approximately 200,000 now. Pope Francis has called the visit an “act of love” towards the minority Christian population and that the; “ the people cannot be let down for a second time”.
The U.S Treasury yield curve has steepened to a four-year high, foreshadowing economic expansion and inflation, reacting to vaccines and new stimulus packages. A steep yield curve- indicating little difference between short term and long-term rates for bonds and notes- often precedes a period of economic expansion.
"In the 21st century, culture is power." - Park Geun-Hye, Former Korean President.