Is US capitalism really abandoning the ‘greed is good’ mantra? | Larry Elliott

The US roundtablers’ pledge is woolly. So it’s baby steps for now to stop Capitol Hill forcing more drastic changesMilton Friedman will be spinning in his grave at the heresy perpetrated by the US Business Roundtable. For the thick end of five decades …

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Burford Capital replaces finance chief to appease investors

UK-listed litigation financier bows to pressure and demotes CFO after hedge fund criticismBurford Capital is replacing its chairman and finance chief in an effort to appease shareholders after a US hedge fund made allegations of poor governance and mur…

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Sports Direct warns of ‘terminal’ House of Fraser problems and €674m tax bill

Sports Direct finally releases its results after a day of ‘shambles’Mike Ashley’s Sports Direct expressed regret at buying a “terminal” House of Fraser and could not predict profits for the year ahead as it revealed it had been landed this week with a …

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Reckitt Benckiser to pay record $1.4bn fine over opioid sales

Maker of Nurofen and Durex reaches deal with authorities over allegedly fraudulent marketing of SuboxoneReckitt Benckiser has agreed to pay a $1.4bn (£1.1bn) fine to settle a US investigation into sales of a treatment for addiction to opioids by its fo…

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Corporate debt could be the next sub-prime crisis, warns banking body

Group for central banks says borrowing by firms with low credit scores is growing alarmingly, especially in US and UKCorporate borrowing poses a danger to the global financial system and could trigger a crisis in the same way US sub-prime mortgages spa…

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