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In Washington, U.S. Senator Elizabeth Warren has officially urged the nation's top banking regulators — the Federal Reserve Board, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) — to launch public and private investigations into Staley's conduct while he was at J.P. Morgan Chase & Co. and later Barclays PLC. Warren's letter alleges that Staley helped shield Epstein's access to the banking system by intervening when internal red flags about Epstein's transactions were raised and that despite the banks settling for large sums in sister cases, Staley has so far avoided U.S. accountabilityAt the same time, U.S. lawsuits are advancing against Barclays and Staley over alleged investor mis-representation. A judge in Los Angeles denied Staley's request to dismiss a class-action claim that the bank and Staley misled investors about the true nature of his ties to Epstein after his arrest in 2019. The U.K.'s Financial Conduct Authority (FCA) earlier found that Staley misled regulators by approving a letter stating his relationship with Epstein was not “close,” whereas email evidence showed they were in contact well beyond what the letter claimed.to contact me:bobbycapucci@protonmail.com
In Washington, U.S. Senator Elizabeth Warren has officially urged the nation's top banking regulators — the Federal Reserve Board, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) — to launch public and private investigations into Staley's conduct while he was at J.P. Morgan Chase & Co. and later Barclays PLC. Warren's letter alleges that Staley helped shield Epstein's access to the banking system by intervening when internal red flags about Epstein's transactions were raised and that despite the banks settling for large sums in sister cases, Staley has so far avoided U.S. accountabilityAt the same time, U.S. lawsuits are advancing against Barclays and Staley over alleged investor mis-representation. A judge in Los Angeles denied Staley's request to dismiss a class-action claim that the bank and Staley misled investors about the true nature of his ties to Epstein after his arrest in 2019. The U.K.'s Financial Conduct Authority (FCA) earlier found that Staley misled regulators by approving a letter stating his relationship with Epstein was not “close,” whereas email evidence showed they were in contact well beyond what the letter claimed.to contact me:bobbycapucci@protonmail.comBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.
This week Nick talks to Julian RobertsJulian Roberts is an executive coach, author and podcast presenter known for his work in developing personal and organisational resilience.In this episode, Nick and Julian talk through Julian's varied career path — from studying medical sciences and starting out in pharmaceutical sales, to spending twenty years in the food industry with brands such as Heinz, before moving into executive coaching following a difficult corporate experience that led him to reassess his direction.Julian explains how his interest in people and performance encouraged him to retrain as a coach and study psychology and neuro-linguistic programming. He describes how his coaching helps individuals and teams to gain clarity, challenge assumptions and take practical steps towards improvement. He also discusses how adaptability and learning, rather than persistence alone, are key to building resilience and improving both personal performance and workplace culture. Julian's Book choice was: The 7 Habits of Highly Effective People by Stephen Covey Julian music choice was: “Intro” by The xx.This content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
Jes Staley, the former CEO of Barclays, has seen his reputation and career unravel after revelations of a deeper-than-declared relationship with Jeffrey Epstein surfaced. Regulators found that Staley had misled both Barclays' board and the UK's Financial Conduct Authority (FCA) by characterizing his bond with Epstein as merely professional, when a trove of emails and correspondence suggested otherwise. The FCA banned Staley from holding senior roles in the UK financial sector and fined him—punishments he challenged in court but largely failed to overturn.Beyond regulatory action, Staley and Barclays now face class-action lawsuits in the U.S. alleging investor deception: shareholders claim the bank and Staley downplayed Epstein links to protect stock prices. A judge recently rejected efforts to dismiss the case, allowing it to proceed. Meanwhile, Staley has publicly accused the FCA of trying to “destroy” him, insisting he mostly had a professional relationship with Epstein and that he was transparent with regulatorsto contact me:bobbycapucci@protonmail.comBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-moscow-murders-and-more--5852883/support.
Jes Staley, the former CEO of Barclays, has seen his reputation and career unravel after revelations of a deeper-than-declared relationship with Jeffrey Epstein surfaced. Regulators found that Staley had misled both Barclays' board and the UK's Financial Conduct Authority (FCA) by characterizing his bond with Epstein as merely professional, when a trove of emails and correspondence suggested otherwise. The FCA banned Staley from holding senior roles in the UK financial sector and fined him—punishments he challenged in court but largely failed to overturn.Beyond regulatory action, Staley and Barclays now face class-action lawsuits in the U.S. alleging investor deception: shareholders claim the bank and Staley downplayed Epstein links to protect stock prices. A judge recently rejected efforts to dismiss the case, allowing it to proceed. Meanwhile, Staley has publicly accused the FCA of trying to “destroy” him, insisting he mostly had a professional relationship with Epstein and that he was transparent with regulatorsto contact me:bobbycapucci@protonmail.comBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.
FOLLOW UP: FCA FINANCIAL REDRESS CONSULTATIONFollowing the Supreme Court's recent ruling that some forms of historical car financing was illegal the Financial Conduct Authority (FCA) has opened a consultation into how those effected should be compensated. Some from within industry are unhappy at what is being covered and the potential exposure in terms of repayments. To find out more, click this article link here from Broker News. STELLANTIS MANAGEMENT AND PLAN CHANGESStellantis are getting a new European boss, with Emanuele Capellano taking over from Jean-Philippe Emperato, who takes the reigns at Maserati. This is the latest move by the new CEO of the group, Antonio Felosa, as he continues to shape the company in a way he feels will bring success. Click this Autocar article for more. Talking of shaping the company, in the US Stellantis announce a huge investment of over £10 billion to help the North American brands bring new models to market including, it is being suggested, V8 power plants. Click this Carcoops article link here to find out more. ASTON MARTIN PROFIT WARNINGAston Martin gave a warning to investors that it will not hit the target of profitability by the end of 2025, as hoped. Blame is being laid at the feet of weak demand and delays to the Valhalla hypercar. Adding further pain is that they share several suppliers with JLR who have been dealing with the knock on effect of the cyberattack. If you wish to read more, click this Business Matters article link here.MUNRO GETS FURTHER INVESTMENTMunro, the Scottish off-road EV start up, has secured a further £2 million funding from an existing and other investors. This will enable them to expand their production facilities and create up to 300 new jobs as they aim for an annual production capacity of 5000 vehicles by 2031. To read more about this success story, click the EV Powered link here. CHINA RESTRICTS RARE EARTH EXPORTS AGAINChina is reminding the world exactly how much power it has, in terms of controlling global manufacturing, by adding more restrictions to some rare earths that are used across industries, including automotive. You can find out more, by clicking this Chatham House article link here. To read the latest from Ed Conway, about rare earths, click this Substack link here. JEEP OTA UPDATE BRICKS CARSAnother week and another story of an Over the Air (OTA) update having unintended consequences on cars and their owners. This time Jeep issued an update last week that has put some cars in ‘limp home mode', whilst others have been bricked. Once more, much of the car industry does not seem to get software and how much harm doing it badly reflects back on...
The UK's Financial Conduct Authority (FCA) concluded that former Barclays CEO Jes Staley misled regulators about the depth of his relationship with Jeffrey Epstein. The FCA determined that Staley “recklessly approved” misleading statements in a 2019 letter sent by Barclays, which downplayed his contact with Epstein and suggested their relationship had ended long before his tenure at the bank. In reality, correspondence revealed an ongoing relationship that continued for years after Epstein's first conviction. The FCA ruled that Staley's conduct demonstrated a lack of integrity and transparency expected of senior banking officials and issued a penalty totaling £1.8 million alongside a ban preventing him from holding any senior management or key function roles in the UK financial sector.After a lengthy appeal process, the UK Upper Tribunal upheld the FCA's decision in mid-2025, describing Staley's behavior as a “serious failure of judgment” and noting his lack of contrition throughout proceedings. While the tribunal slightly reduced the fine to £1.1 million, it agreed that Staley's conduct warranted a permanent ban from leadership positions within financial services. The ruling effectively ends Staley's career in banking and cements his downfall from one of the UK's most prominent financial figures to a cautionary tale of hubris, poor judgment, and the enduring fallout from his ties to Epstein.to contact me:bobbycapucci@protonmail.comBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.
This week Nick talks to Oktay Kavrak.Oktay Kavrak is Head of Communications and Strategy at Leverage Shares, a European leader in exchange-traded products (ETPs). Oktay discusses the company's mission to democratize access to investing, with over $1.5 billion in assets under management as of July 2024. He shares his professional journey from IBM and DeGiro to joining Leverage Shares in its early stages, helping pioneer leveraged ETFs across Europe.Oktay explains how Leverage Shares introduced the first leveraged single-stock ETFs - products that offer amplified exposure to major names like Tesla, Nvidia, and Coinbase. Designed for short-term, tactical trading, these products allow investors to multiply daily movements of popular stocks while maintaining transparency and regulated exchange access. The discussion also highlights the rise of Income Shares, which generate monthly cash flow through covered call and cash-secured put strategies, offering investors both growth and yield opportunities. Notably, Leverage Shares' 3x Tesla ETF has been the most traded ETF on the London Stock Exchange for three consecutive years, reflecting the strong retail demand for active, accessible trading tools.Nick and Oktay look ahead, as OKtay predicts that the ETF industry will continue expanding, driven by retail participation, product innovation, and greater demand for diversified and income-generating strategies. As the market evolves, firms like Leverage Shares are bridging the gap between complex institutional strategies and retail accessibility—bringing structured, transparent products to investors worldwide. Oktay's Book Choices where:Outliers by Malcolm GladwellRebel Ideas by Matthew SyedOktay's Music Choice was:ColdplayThis content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
In part two of the ten financial truths every dental practice owner should know, Wesleyan Financial Services Regional Manager Simon Cosgrove looks at how growing your business isn't always a straight line. Wesleyan Financial Services is a credit broker not a lender. Please note the Financial Conduct Authority (FCA) does not regulate commercial mortgages. This podcast is for information purposes only and does not constitute financial advice. Wesleyan Financial Services Ltd (Registered in England and Wales No. 1651212) is authorised and regulated by the Financial Conduct Authority. Registered Office: Colmore Circus, Birmingham B4 6AR. Telephone: 0345 351 2352. Calls may be recorded to help us provide, monitor and improve our services to you. Charges may apply. Learn more about our charges at https://www.wesleyan.co.uk/charges.
In May 2025, we successfully completed the acquisition of Infinity Aviation, the sole fixed-base operator (FBO) of a portfolio of on-airport general aviation hangars in the United States. This marks our first investment in the North American aviation sector. In this NEWSFLASH episode of Keeping it Real Assets, Julie Furber shares insights into Infinity Aviation's business model, the exciting growth potential of Tier 2 and Tier 3 airports, and how we plan to create value with this platform opportunity. ********************** Important informationThis material is for general information purposes only. It does not constitute investment or financial advice and does not take into account any specific investment objectives, financial situation or needs. This is not an offer to provide asset management services, is not a recommendation or an offer or solicitation to buy, hold or sell any security or to execute any agreement for portfolio management or investment advisory services and this material has not been prepared in connection with any such offer. Before making any investment decision you should consider, with the assistance of a financial advisor, your individual investment needs, objectives and financial situation. We have taken reasonable care to ensure that this material is accurate, current, and complete and fit for its intended purpose and audience as at the date of publication. No assurance is given or liability accepted regarding the accuracy, validity or completeness of this material and we do not undertake to update it in future if circumstances change. To the extent this material contains any expression of opinion or forward looking statements, such opinions and statements are based on assumptions, matters and sources believed to be true and reliable at the time of publication only. This material reflects the views of the individual writers only. Those views may change, may not prove to be valid and may not reflect the views of everyone at Igneo Infrastructure Partners or First Sentier Group. About First Sentier Group References to 'we', 'us' or 'our' are references to Igneo Infrastructure Partners or First Sentier Group (as applicable). First Sentier Group is a global asset management business which is ultimately owned by Mitsubishi UFJ Financial Group. Igneo Infrastructure Partners is an unlisted infrastructure asset management business and is part of the First Sentier Group. We communicate and conduct business through different legal entities in different locations. This material is communicated in: Australia and New Zealand by First Sentier Investors (Australia) RE Ltd, authorised and regulated in Australia by the Australian Securities and Investments Commission (AFSL 240550; ABN 13 006 464 428) European Economic Area by First Sentier Investors (Ireland) Limited, authorised and regulated in Ireland by the Central Bank of Ireland (CBI reg no. C182306; reg office 70 Sir John Rogerson's Quay, Dublin 2, Ireland; reg company no. 629188) Hong Kong by First Sentier Investors (Hong Kong) Limited and has not been reviewed by the Securities & Futures Commission in Hong Kong. First Sentier Investors and Igneo Infrastructure Partners are business names of First Sentier Investors (Hong Kong) Limited. Singapore by First Sentier Investors (Singapore) (reg company no. 196900420D) and this advertisement or material has not been reviewed by the Monetary Authority of Singapore. First Sentier Investors (registration number 53236800B) and Igneo Infrastructure Partners (registration number 53447928J) are business divisions of First Sentier Investors (Singapore). United Kingdom by First Sentier Investors International IM Limited, authorised and regulated by the Financial Conduct Authority (reg. no. SC079063, reg office 23 St Andrew Square, Edinburgh, Scotland, EH2 1BB) United States by First Sentier Investors (US) LLC, registered with the Securities Exchange Commission (RIA 801#93167) Other jurisdictions, where this document may lawfully be issued, by First Sentier Investors International IM Limited, authorised and regulated in the UK by the Financial Conduct Authority (FCA ref no. 122512; Registered office: 23 St. Andrew Square, Edinburgh, EH2 1BB; Company no. SC079063). To the extent permitted by law, MUFG and its subsidiaries are not liable for any loss or damage as a result of reliance on any statement or information contained in this document. Neither MUFG nor any of its subsidiaries guarantee the performance of any investment products referred to in this document or the repayment of capital. Any investments referred to are not deposits or other liabilities of MUFG or its subsidiaries, and are subject to investment risk, including loss of income and capital invested. © Igneo Infrastructure Partners
In this episode Nick talks to David Keene MBEDavid Keene MBE, Founder & CEO of Aurrigo, is a leading figure in the automotive and autonomous vehicle industries. With nearly four decades of experience, David has been recognised as a driving force in the development of autonomous and electric vehicles, earning an MBE in June 2025 for his pioneering work to decarbonise airports through innovations such as the Auto-DollyTug, now in use at airports worldwide. A board member of the UK Automotive Council, Visiting Professor at Coventry University, and Fellow of the Institute of Engineering and Technology, David shares insights from his journey as an entrepreneur, innovator, and mentor nurturing the next generation of talent.Nick and David discuss how Aurrigo is partnering with major airlines, airports, and ground handlers—including Heathrow, Schiphol, Changi, and Swissport—to deploy autonomous technology that reduces emissions and addresses post-COVID staffing shortages by automating repetitive, low-value tasks. David highlights why airports are the ideal proving ground for autonomy—operating at low speeds, under strict regulations, and within confined domains—and explains how AI supports vision systems while safety-critical driving remains rules-based.The conversation also explores digital twins, airport electrification, and the next wave of autonomous applications, from cargo and baggage handling to security patrols, catering vehicles, and even remote-controlled passenger stairs. Offering insights into global scaling, competition with legacy ground support manufacturers, and the balance between innovation and safety, this discussion reveals how autonomous technology is reshaping airside operations and redefining the future of aviation logistics.David's Book choices where:The Warren Buffett Way by Robert G. Hagstrom Rich Dad, Poor Dad by Robert T. Kiyosaki and Sharon Lechter David's music choice was:Mr Blue Sky by ELOThis content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
In the penultimate episode of this season of Data Bytes, we look at how digital identity provisions will reshape the world as we know it. Physical ID cards may soon be a thing of the past, and that could have huge implications for society and businesses. Host Rhiannon Webster is joined by Ashurst colleague Fiona Ghosh to explain how digital IDs are swiftly changing how we live and work. Together, they discuss how the Data (Use and Access) Act creates a regulatory framework for digital identity to operate under government oversight. Rhiannon offers an overview of the Act’s provisions including the statutory trust framework, supplementary codes and a new register of digital verification service providers. She also discusses the profound security implications of digital ID and potential multi-regulation scenarios where financial services firms might have to report breaches to the Information Commissioner's Office (ICO), Financial Conduct Authority (FCA), Payment Systems Regulator (PSR) and the new Office for Digital Identity And Attributes. Fiona points out that, “the main impact of digital ID will be the enablement for citizens to access services in multidisciplinary ways”. For example, citizens will be able to choose how to access their benefits or records – physically or electronically. And she raises questions around resilience when businesses move to the cloud and the level of expectation (and trust) that citizens now place in digital wallets and ID.To listen to this and subscribe to future Data Bytes episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify, or your favourite podcast player. To explore more from Ashurst’s podcast library, visit ashurst.com/podcasts. The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.See omnystudio.com/listener for privacy information.
Jes Staley, the former CEO of Barclays, saw roughly £22 million in bonuses and deferred compensation frozen in 2022 as regulators dug into his ties to Jeffrey Epstein. The freeze included unvested share payouts and long-term incentive plans that Staley had been promised but had not yet received. The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) launched their review after concerns emerged over how Staley characterized his personal relationship with Epstein, a man whose reputation was already well-tarnished by his 2008 sex-offense conviction. The decision marked a significant step for Barclays, signaling just how seriously the bank's board and regulators were taking any whiff of reputational risk tied to Epstein.The matter didn't end with the freeze. In 2023, the FCA moved to ban Staley from holding senior positions in the UK financial industry, citing his misleading accounts of the Epstein connection. Alongside the ban, regulators initially proposed a £1.8 million fine, which was later reduced to about £1.1 million. Staley ultimately forfeited around £18 million in bonuses and deferred pay. For a man who had once been a Wall Street heavyweight, it was a public and financial fall from grace that demonstrated the long shadow Epstein's scandal continues to cast over those in his orbit.to contact me:bobbycapucci@protonmail.comsource:https://www.wsj.com/articles/barclays-profit-falls-on-slowdown-in-investment-banking-11645603658Become a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.
This week Nick talks to Peter YorkPeter York is an author, broadcaster, journalist, management consultant and cultural commentator. He was Style Editor of Harper's & Queen for ten years and co-authored The Official Sloane Ranger Handbook in 1982. He co-founded the consultancy SRU Ltd, later chaired a UK government Foresight committee on the future of leisure, and has written for The Independent on Sunday, GQ and Management Today.Peter's most recent books are The War Against the BBC: How an Unprecedented Combination of Hostile Forces Is Destroying Britain's Greatest Cultural Institution... And Why You Should Care and A Dead Cat on Your Table — which argues that Britain's culture wars are waged by a shameless minority with no shortage of money or media access, battling society's most vulnerable not for principle, but for money and political power.Peter and Nick discuss Peter's inspiring mentors and working with major brands, media outlets, and designers while building his consultancy career. They also discusses the creation and cultural impact of the Sloane Ranger Handbook, its ties to 1980s London, and the social shifts of that era. Peter contrasts the old financial and advertising worlds with today's technology-driven landscape, expressing concern about the decline of human connection, the rise of disinformation, and the role of AI in shaping public opinion. They also cover some of the themes of his book A Dead Cat on Your Table, which explores how culture wars and “othering” distract from real societal issues.Peter's book choice wasThe Three Musketeers Hardcover – by Alexandre Dumas Peter's music choices whereAvalon by Roxy MusicOnce in a Lifetime by Talking Heads Subscribe to Peter's Podcast - Peter York's Culture Wars House PartyThis content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
This week Nick talks to Mike England Mike holds a Master's Degree in Engineering and brings over 25 years of commercial and operational leadership experience in industrial product distribution and services. He spent eight years with FTSE100 RS Group plc, where he held key leadership roles including Group Chief Operating Officer, overseeing P&L across the Americas, EMEA, and APAC. Prior to that, he served as President of EMEA and, earlier, as Managing Director, successfully leading the turnaround of operations in the UK and Northern Europe. Before RS Group, Mike spent nine years at FTSE250 Brammer plc (now Rubix), where he was Key Account and Sales Director, following nine years at Rexel in a variety of commercial and operational leadership roles.Nick and Mike discuss how Flowtech has been through a major transformation, bringing 17 brands together under one name and shifting the business from service issues to a more stable, profitable footing. Mike points to the relaunch of the company's well-known fluid power catalogue and the launch of a new website that makes it easier for customers to buy online while showcasing the full range of products and services. They touch on the steady MRO market, the quick turnaround of recent acquisitions, and the fresh leadership team now in place. Looking ahead, Mike shares his optimism that with stronger foundations and a scalable model, Flowtech is well placed to grow as markets recover, both through its own improvements and selective acquisitions. Mike's book choice was: Start With Why by Simon SinekMike's music choice was:Don't You (Forget About Me) by Simple MindsThis content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
In this weeks episode Nick talks to Benedict EvansBenedict Evans is an independent analyst with over 25 years' experience in mobile, media, and technology. Evans recounts his career journey, from equity analysis of mobile operators, to strategic roles in media and telecoms, and later his work at venture capital firm Andreessen Horowitz.Nick and Benedict conversations explores the evolution of artificial intelligence, clarifying definitions of AI, machine learning, and generative AI, and drawing historical parallels with past technology shifts such as smartphones, spreadsheets, and the internet. Evans discusses AI's strengths, limitations, and public misconceptions, emphasising that its current utility lies in domains like software development and marketing. He notes that while AI can produce impressive results, it operates on probabilistic reasoning rather than human-like understanding, making it well-suited for some tasks but unreliable for others requiring precise factual accuracy.The discussion also addresses societal responses to new technologies, including moral panics, misuse by bad actors, and challenges in regulation. Evans stresses the importance of distinguishing hype from genuine capability and identifying where AI adds the most value. Looking ahead, he outlines adoption patterns, the integration of AI into everyday workflows, and the ongoing debate over whether large language models represent a fundamental shift in computing or simply another software evolution.Follow Benedict and subscribe to his newsletter here. This content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
Leaked correspondence between Jes Staley—former CEO of Barclays and long-time JPMorgan executive—and Jeffrey Epstein laid bare more than just casual business exchanges; they revealed a troubling bond rooted in intimacy, trust, and privilege. In one exchange, Staley mused, “That was fun. Say hi to Snow White,” to which Epstein replied, “What character would you like next?” Staley coyly responded, “Beauty and the Beast,” turning their relationship into a grotesque pantomime. More damningly, Staley described Epstein as “family” and spoke of a “profound” connection, while photos of young women were also swapped—all under the guise of everyday correspondence. Far from distancing himself, Staley sustained contact well past Epstein's 2008 conviction, even joining him on his private island in 2009—behavior that defied any claim of a “purely professional” relationship.The fallout was swift—and deserved. The UK's Financial Conduct Authority (FCA) concluded that Staley “recklessly misled” both Barclays and regulators by downplaying the closeness of his ties with Epstein. A £1.8 million fine (later reduced to £1.1 million) and a lifetime ban from senior financial roles followed. The Upper Tribunal upheld the sanctions, emphasizing that Staley knowingly took a calculated risk, hoping the truth would stay buried. But the emails, held up like digital incriminators, ensured his downfall. His denials, evasive demeanor in court, and attempt to frame the relationship as innocuous only magnified the breach of trust. In financial leadership, reputation is everything—and Staley burned his.to contact me:bobbycapucci@protonmail.comsource:Epstein-Staley Emails Reveal Friendship Forged at JPMorgan (yahoo.com)
Leaked correspondence between Jes Staley—former CEO of Barclays and long-time JPMorgan executive—and Jeffrey Epstein laid bare more than just casual business exchanges; they revealed a troubling bond rooted in intimacy, trust, and privilege. In one exchange, Staley mused, “That was fun. Say hi to Snow White,” to which Epstein replied, “What character would you like next?” Staley coyly responded, “Beauty and the Beast,” turning their relationship into a grotesque pantomime. More damningly, Staley described Epstein as “family” and spoke of a “profound” connection, while photos of young women were also swapped—all under the guise of everyday correspondence. Far from distancing himself, Staley sustained contact well past Epstein's 2008 conviction, even joining him on his private island in 2009—behavior that defied any claim of a “purely professional” relationship.The fallout was swift—and deserved. The UK's Financial Conduct Authority (FCA) concluded that Staley “recklessly misled” both Barclays and regulators by downplaying the closeness of his ties with Epstein. A £1.8 million fine (later reduced to £1.1 million) and a lifetime ban from senior financial roles followed. The Upper Tribunal upheld the sanctions, emphasizing that Staley knowingly took a calculated risk, hoping the truth would stay buried. But the emails, held up like digital incriminators, ensured his downfall. His denials, evasive demeanor in court, and attempt to frame the relationship as innocuous only magnified the breach of trust. In financial leadership, reputation is everything—and Staley burned his.to contact me:bobbycapucci@protonmail.comsource:Epstein-Staley Emails Reveal Friendship Forged at JPMorgan (yahoo.com)
Leaked correspondence between Jes Staley—former CEO of Barclays and long-time JPMorgan executive—and Jeffrey Epstein laid bare more than just casual business exchanges; they revealed a troubling bond rooted in intimacy, trust, and privilege. In one exchange, Staley mused, “That was fun. Say hi to Snow White,” to which Epstein replied, “What character would you like next?” Staley coyly responded, “Beauty and the Beast,” turning their relationship into a grotesque pantomime. More damningly, Staley described Epstein as “family” and spoke of a “profound” connection, while photos of young women were also swapped—all under the guise of everyday correspondence. Far from distancing himself, Staley sustained contact well past Epstein's 2008 conviction, even joining him on his private island in 2009—behavior that defied any claim of a “purely professional” relationship.The fallout was swift—and deserved. The UK's Financial Conduct Authority (FCA) concluded that Staley “recklessly misled” both Barclays and regulators by downplaying the closeness of his ties with Epstein. A £1.8 million fine (later reduced to £1.1 million) and a lifetime ban from senior financial roles followed. The Upper Tribunal upheld the sanctions, emphasizing that Staley knowingly took a calculated risk, hoping the truth would stay buried. But the emails, held up like digital incriminators, ensured his downfall. His denials, evasive demeanor in court, and attempt to frame the relationship as innocuous only magnified the breach of trust. In financial leadership, reputation is everything—and Staley burned his.to contact me:bobbycapucci@protonmail.comsource:Epstein-Staley Emails Reveal Friendship Forged at JPMorgan (yahoo.com)
Leaked correspondence between Jes Staley—former CEO of Barclays and long-time JPMorgan executive—and Jeffrey Epstein laid bare more than just casual business exchanges; they revealed a troubling bond rooted in intimacy, trust, and privilege. In one exchange, Staley mused, “That was fun. Say hi to Snow White,” to which Epstein replied, “What character would you like next?” Staley coyly responded, “Beauty and the Beast,” turning their relationship into a grotesque pantomime. More damningly, Staley described Epstein as “family” and spoke of a “profound” connection, while photos of young women were also swapped—all under the guise of everyday correspondence. Far from distancing himself, Staley sustained contact well past Epstein's 2008 conviction, even joining him on his private island in 2009—behavior that defied any claim of a “purely professional” relationship.The fallout was swift—and deserved. The UK's Financial Conduct Authority (FCA) concluded that Staley “recklessly misled” both Barclays and regulators by downplaying the closeness of his ties with Epstein. A £1.8 million fine (later reduced to £1.1 million) and a lifetime ban from senior financial roles followed. The Upper Tribunal upheld the sanctions, emphasizing that Staley knowingly took a calculated risk, hoping the truth would stay buried. But the emails, held up like digital incriminators, ensured his downfall. His denials, evasive demeanor in court, and attempt to frame the relationship as innocuous only magnified the breach of trust. In financial leadership, reputation is everything—and Staley burned his.to contact me:bobbycapucci@protonmail.comsource:Epstein-Staley Emails Reveal Friendship Forged at JPMorgan (yahoo.com)Become a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.
Leaked correspondence between Jes Staley—former CEO of Barclays and long-time JPMorgan executive—and Jeffrey Epstein laid bare more than just casual business exchanges; they revealed a troubling bond rooted in intimacy, trust, and privilege. In one exchange, Staley mused, “That was fun. Say hi to Snow White,” to which Epstein replied, “What character would you like next?” Staley coyly responded, “Beauty and the Beast,” turning their relationship into a grotesque pantomime. More damningly, Staley described Epstein as “family” and spoke of a “profound” connection, while photos of young women were also swapped—all under the guise of everyday correspondence. Far from distancing himself, Staley sustained contact well past Epstein's 2008 conviction, even joining him on his private island in 2009—behavior that defied any claim of a “purely professional” relationship.The fallout was swift—and deserved. The UK's Financial Conduct Authority (FCA) concluded that Staley “recklessly misled” both Barclays and regulators by downplaying the closeness of his ties with Epstein. A £1.8 million fine (later reduced to £1.1 million) and a lifetime ban from senior financial roles followed. The Upper Tribunal upheld the sanctions, emphasizing that Staley knowingly took a calculated risk, hoping the truth would stay buried. But the emails, held up like digital incriminators, ensured his downfall. His denials, evasive demeanor in court, and attempt to frame the relationship as innocuous only magnified the breach of trust. In financial leadership, reputation is everything—and Staley burned his.to contact me:bobbycapucci@protonmail.comsource:Epstein-Staley Emails Reveal Friendship Forged at JPMorgan (yahoo.com)Become a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.
Leaked correspondence between Jes Staley—former CEO of Barclays and long-time JPMorgan executive—and Jeffrey Epstein laid bare more than just casual business exchanges; they revealed a troubling bond rooted in intimacy, trust, and privilege. In one exchange, Staley mused, “That was fun. Say hi to Snow White,” to which Epstein replied, “What character would you like next?” Staley coyly responded, “Beauty and the Beast,” turning their relationship into a grotesque pantomime. More damningly, Staley described Epstein as “family” and spoke of a “profound” connection, while photos of young women were also swapped—all under the guise of everyday correspondence. Far from distancing himself, Staley sustained contact well past Epstein's 2008 conviction, even joining him on his private island in 2009—behavior that defied any claim of a “purely professional” relationship.The fallout was swift—and deserved. The UK's Financial Conduct Authority (FCA) concluded that Staley “recklessly misled” both Barclays and regulators by downplaying the closeness of his ties with Epstein. A £1.8 million fine (later reduced to £1.1 million) and a lifetime ban from senior financial roles followed. The Upper Tribunal upheld the sanctions, emphasizing that Staley knowingly took a calculated risk, hoping the truth would stay buried. But the emails, held up like digital incriminators, ensured his downfall. His denials, evasive demeanor in court, and attempt to frame the relationship as innocuous only magnified the breach of trust. In financial leadership, reputation is everything—and Staley burned his.to contact me:bobbycapucci@protonmail.comsource:Epstein-Staley Emails Reveal Friendship Forged at JPMorgan (yahoo.com)Become a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.
Jes Staley, former CEO of Barclays and senior executive at JPMorgan Chase, is embroiled in multiple lawsuits due to his association with Jeffrey Epstein. JPMorgan Chase has sued Staley, alleging that he concealed Epstein's illicit activities to maintain him as a client, thereby exposing the bank to legal liabilities. The bank seeks to hold Staley personally accountable for any penalties arising from related lawsuits and to recover compensation paid during his tenure. These legal actions stem from claims that Staley was aware of, and possibly participated in, Epstein's sex trafficking operations, with evidence suggesting he exchanged approximately 1,200 emails with Epstein between 2008 and 2012, some containing unexplained terms like "Snow White."The Financial Conduct Authority (FCA) in the UK has accused Staley of providing misleading information about his relationship with Epstein during their investigation. The FCA intends to ban him from senior financial roles and impose a £1.8 million fine, citing inconsistencies in his statements regarding interactions with Epstein. Staley's close ties to Epstein, including visits to Epstein's private island and correspondence during Epstein's incarceration, have raised serious concerns about his judgment and integrity. These revelations suggest a profound lapse in ethical standards, as Staley's actions may have facilitated or overlooked egregious misconduct, undermining trust in the institutions he led. to contact me:bobbycapucci@protonmail.comBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.
This week Nick talks to Lionel Barber.Lionel Barber is a distinguished British journalist best known for his tenure as Editor of the Financial Times from 2005 to 2020, during which he spearheaded its transformation into a globally respected, digital-first news organisation. A graduate of St Edmund Hall, Oxford, he began his career at The Scotsman before moving to The Sunday Times and then joining the FT in 1985, where he held senior roles including Washington correspondent, Brussels bureau chief, news editor, and U.S. managing editor. As editor, he conducted landmark interviews with world leaders such as Barack Obama, Vladimir Putin, and Angela Merkel. Barber is the author of The Powerful and the Damned: Private Diaries in Turbulent Times and his latest book Gambling Man: The Wild Ride of Japan's Masayoshi Son, and has been recognised with honours including the Légion d'Honneur, the Stella d'Italia, and the Gerald Loeb Lifetime Achievement Award. He currently serves on several boards, lectures globally on media and geopolitics, and co-hosts the Media Confidential podcast with Alan Rusbridger. Nick and Lionel discuss, Lionel's journey from a newspaper-loving household in Leeds to leading one of the world's most influential publications. Inspired by his journalist father, Barber started his career at The Scotsman and quickly rose through the ranks, eventually serving as foreign correspondent in Washington and Brussels before becoming FT editor in 2005. He shares highlights from his tenure, including interviews with Vladimir Putin and Donald Trump, and his leadership during the paper's digital transformation. Barber also discusses his latest book, Gambling Man, a biography of Masayoshi Son, the Korean-Japanese entrepreneur behind SoftBank. The book charts Son's remarkable rise from growing up in a marginalised slum to building one of the world's largest investment funds. Barber portrays Son as both a visionary and a calculated risk-taker, whose bold investments in Yahoo, Alibaba, and ARM shaped modern tech finance. He also delves into Son's failures, such as the WeWork debacle, and his ability to bounce back with ambitious plans in AI and global innovation, while still regarded with suspicion by Japan's establishment.Lionel's book choice was:Present at the creation Dean AchesonLionel Music choice was:Piano Sonata No. 32 in C minor, Op. 111 by Ludwig van BeethovenFollow Lionel on his Substack and his podcast - Media Confidential.This content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
This week Nick talks to long-time friend of the show, Hugh Hendry, the Acid Capitalist. Hugh Hendry is a Scottish hedge fund manager and outspoken investor known for his contrarian views and sharp macroeconomic commentary. Born in Glasgow, he studied Economics and Finance at the University of Strathclyde before starting his career at Baillie Gifford, later moving to Credit Suisse and Odey Asset Management. In 2005, he co-founded Eclectica Asset Management, where he served as Chief Investment Officer and gained prominence for delivering strong returns during volatile periods—most notably a 32% gain in 2008 amid the global financial crisis. After closing the fund in 2017, Hendry relocated to St Barts, where he now invests in luxury real estate and hosts a podcast focused on global markets and economic disruption. Hugh and Nick explore the fragility of the global economic system, focusing on what he sees as America's loss of monetary sovereignty due to decades of manipulated international trade—particularly by China. He argues that the US has been structurally weakened by its role as the global consumer of last resort, propped up by foreign capital inflows and suppressed foreign currencies. Hendry praises the economic direction of the “Trump 2.0” presidency for challenging the status quo with tariffs, capital flow restrictions, and trade rebalancing—measures he believes are necessary to avoid long-term decline.Nick and Hugh also discusses Hugh's bullish stance on Bitcoin, highlighting its potential for explosive growth given its small market cap relative to traditional asset classes. He views Bitcoin as a compelling macro trade, especially in a world of shifting monetary regimes. The conversation then turns to the rise of AI, which Hendry describes as transformative both personally and economically—disrupting jobs, changing creative processes, and complicating traditional tax models. Follow and subscribe to Hugh's SubstackThis content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
In this fifth episode of our Innovation in Infrastructure podcast mini-series we are delighted to welcome Eric Grégoire, the CEO of Igneo portfolio company Scandlines. Scandlines already owns the world's largest fleet of hybrid ferries which operate between Germany and Denmark. The company is about to take the next big step on its green journey with the upcoming launch of a zero direct emissions-freight ferry on its Puttgarden-Rodby route. When the 147m ferry enters operations its 10 MWh battery will be chargeable within 12 minutes between each one-hour crossing. This episode explores not only the company's innovation in the operations of zero direct emissions and electrification of vessels but also describes the culture of innovation being created by the Scandlines Academy and other innovations in energy consumption. We thank Simon Montague from the Global Infrastructure Investor Association (GIIA) for his continued support in hosting this series.********************** Important informationThis material is for general information purposes only. It does not constitute investment or financial advice and does not take into account any specific investment objectives, financial situation or needs. This is not an offer to provide asset management services, is not a recommendation or an offer or solicitation to buy, hold or sell any security or to execute any agreement for portfolio management or investment advisory services and this material has not been prepared in connection with any such offer. Before making any investment decision you should consider, with the assistance of a financial advisor, your individual investment needs, objectives and financial situation.We have taken reasonable care to ensure that this material is accurate, current, and complete and fit for its intended purpose and audience as at the date of publication. No assurance is given or liability accepted regarding the accuracy, validity or completeness of this material and we do not undertake to update it in future if circumstances change.To the extent this material contains any expression of opinion or forward-looking statements, such opinions and statements are based on assumptions, matters and sources believed to be true and reliable at the time of publication only. This material reflects the views of the individual writers only. Those views may change, may not prove to be valid and may not reflect the views of everyone at Igneo Infrastructure Partners or First Sentier Investors.About First Sentier InvestorsReferences to ‘we', ‘us' or ‘our' are references to Igneo Infrastructure Partners or First Sentier Investors (as applicable). First Sentier Investors is a global asset management business which is ultimately owned by Mitsubishi UFJ Financial Group. Igneo Infrastructure Partners is an unlisted infrastructure asset management business and is part of the First Sentier Investors Group. We communicate and conduct business through different legal entities in different locations. This material is communicated in:[1] Australia and New Zealand by First Sentier Investors (Australia) RE Ltd, authorised and regulated in Australia by the Australian Securities and Investments Commission (AFSL 240550; ABN 13 006 464 428) European Economic Area by First Sentier Investors (Ireland) Limited, authorised and regulated in Ireland by the Central Bank of Ireland (CBI reg no. C182306; reg office 70 Sir John Rogerson's Quay, Dublin 2, Ireland; reg company no. 629188)Hong Kong by First Sentier Investors (Hong Kong) Limited and has not been reviewed by the Securities & Futures Commission in Hong Kong. First Sentier Investors and Igneo Infrastructure Partners are business names of First Sentier Investors (Hong Kong) Limited. Singapore by First Sentier Investors (Singapore) (reg company no. 196900420D) and this advertisement or material has not been reviewed by the Monetary Authority of Singapore. First Sentier Investors (registration number 53236800B) and Igneo Infrastructure Partners (registration number 53447928J) are business divisions of First Sentier Investors (Singapore).Japan by First Sentier Investors (Japan) Limited, authorised and regulated by the Financial Service Agency (Director of Kanto Local Finance Bureau (Registered Financial Institutions) No.2611)United Kingdom by First Sentier Investors International IM Limited, authorised and regulated by the Financial Conduct Authority (reg. no. SC079063, reg office 23 St Andrew Square, Edinburgh, Scotland, EH2 1BB)United States by First Sentier Investors (US) LLC, authorised and regulated by the Securities Exchange Commission (RIA 801-93167)other jurisdictions, where this document may lawfully be issued, by First Sentier Investors International IM Limited, authorised and regulated in the UK by the Financial Conduct Authority (FCA ref no. 122512; Registered office: 23 St. Andrew Square, Edinburgh, EH2 1BB; Company no. SC079063).To the extent permitted by law, MUFG and its subsidiaries are not liable for any loss or damage as a result of reliance on any statement or information contained in this document. Neither MUFG nor any of its subsidiaries guarantee the performance of any investment products referred to in this document or the repayment of capital. Any investments referred to are not deposits or other liabilities of MUFG or its subsidiaries, and are subject to investment risk, including loss of income and capital invested.© Igneo Infrastructure Partners
This week Nick talks to Marty Connaghan.Marty began his career at Glasgow-based investment firm Murray Johnstone in 1998, and joined Aberdeen in 2001 following its acquisition of Murray Johnstone. Over the years, he has held various roles, including Dealer, ESG Analyst, and Credit Analyst. For the past 17 years, Martin has specialised in managing Global Equity and Income mandates. He has been a member of the Murray International Trust fund management team since 2017. Nick and Marty discuss Marty's career journey and investment philosophy. Marty shares how he entered the finance world unexpectedly, starting as an office junior at Murray Johnstone after leaving university early. His curiosity and persistence led him through roles in investment accounting, trading, credit analysis, and eventually into fund management. Over nearly three decades, he has developed a focus on global equity and income strategies, managing portfolios with a strong emphasis on quality companies with reliable and growing dividends. Marty highlights the importance of understanding businesses deeply and constructing portfolios that balance yield, sustainability, and long-term value. Nick and Marty also discuss macroeconomic dynamics, the impact of political volatility—especially from the U.S.—on markets, and the challenges and opportunities within sectors like healthcare, consumer staples, and emerging markets. Marty emphasises the disciplined approach of staying true to the fund's objective rather than chasing market fads. They also cover ESG integration, passive investing's distortion of markets, and UK equity undervaluation. Marty's Book choices where:All That Matters - Sir Chris HoyAndre Agassi - OpenDanny Champion of The World - Roald DahlMarty's music choice was:Nothing Can Change This Love by Otis Reading This content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
This week Nick talks to Alison KosikAlison Kosik is an American journalist and freelance anchor currently reporting for ABC News. She previously served as a business correspondent for CNN, where she covered the New York Stock Exchange. Her debut book, What's Up With Women And Money? How To Do All The Financial Stuff You've Been Avoiding, was released on March 4, 2025. Nick and Alison discuss Alison's journey from a childhood fascination with journalism to becoming a respected anchor and business correspondent. She discusses her early ambitions, winning essay contests as a young girl in Miami, and turning down a scholarship to pursue journalism in Washington, D.C. After struggling through unpaid internships and low-paying early jobs, Alison eventually landed roles with CBS and CNN, including a pivotal position reporting from the New York Stock Exchange. Despite initial doubts about her knowledge of finance, she quickly adapted and excelled, interviewing high-profile figures like Warren Buffett and Hillary Clinton.Alison's new book, What's Up With Women and Money?, which draws from her personal experience of relinquishing financial control in her marriage and the resulting consequences. She explains how the book aims to empower women across all backgrounds to take charge of their finances with confidence, using accessible language and relatable analogies—like “shoe budgets”—to demystify complex topics like insurance, estate planning, and investing. Alison highlights the cultural and psychological barriers many women face regarding financial literacy, and stresses the importance of community, self-awareness, and early financial education to break the cycle.Alison's book choice was: Life of Pi by Yann MartelAlison's music choice was: Irene Cara - What a FeelingThis content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
On 30 April 2025 Igneo formally acquired a 50% stake in the Norway headquartered, Floating Storage Regasification Unit (FRSU) operator Hoegh EVI. In the NEWSFLASH episode of Keeping it Real Assets, Alexander Nassuphis provides his thoughts on the role FSRUs and market leader Hoegh Evi are expected to play in the provision of long-term energy supplies.********************** Important information This material is for general information purposes only. It does not constitute investment or financial advice and does not take into account any specific investment objectives, financial situation or needs. This is not an offer to provide asset management services, is not a recommendation or an offer or solicitation to buy, hold or sell any security or to execute any agreement for portfolio management or investment advisory services and this material has not been prepared in connection with any such offer. Before making any investment decision you should consider, with the assistance of a financial advisor, your individual investment needs, objectives and financial situation. We have taken reasonable care to ensure that this material is accurate, current, and complete and fit for its intended purpose and audience as at the date of publication. No assurance is given or liability accepted regarding the accuracy, validity or completeness of this material and we do not undertake to update it in future if circumstances change. To the extent this material contains any expression of opinion or forward-looking statements, such opinions and statements are based on assumptions, matters and sources believed to be true and reliable at the time of publication only. This material reflects the views of the individual writers only. Those views may change, may not prove to be valid and may not reflect the views of everyone at Igneo Infrastructure Partners or First Sentier Investors. About First Sentier Investors References to ‘we', ‘us' or ‘our' are references to Igneo Infrastructure Partners or First Sentier Investors (as applicable). First Sentier Investors is a global asset management business which is ultimately owned by Mitsubishi UFJ Financial Group. Igneo Infrastructure Partners is an unlisted infrastructure asset management business and is part of the First Sentier Investors Group. We communicate and conduct business through different legal entities in different locations. This material is communicated in:[1] Australia and New Zealand by First Sentier Investors (Australia) RE Ltd, authorised and regulated in Australia by the Australian Securities and Investments Commission (AFSL 240550; ABN 13 006 464 428) European Economic Area by First Sentier Investors (Ireland) Limited, authorised and regulated in Ireland by the Central Bank of Ireland (CBI reg no. C182306; reg office 70 Sir John Rogerson's Quay, Dublin 2, Ireland; reg company no. 629188)Hong Kong by First Sentier Investors (Hong Kong) Limited and has not been reviewed by the Securities & Futures Commission in Hong Kong. First Sentier Investors and Igneo Infrastructure Partners are business names of First Sentier Investors (Hong Kong) Limited. Singapore by First Sentier Investors (Singapore) (reg company no. 196900420D) and this advertisement or material has not been reviewed by the Monetary Authority of Singapore. First Sentier Investors (registration number 53236800B) and Igneo Infrastructure Partners (registration number 53447928J) are business divisions of First Sentier Investors (Singapore).Japan by First Sentier Investors (Japan) Limited, authorised and regulated by the Financial Service Agency (Director of Kanto Local Finance Bureau (Registered Financial Institutions) No.2611)United Kingdom by First Sentier Investors International IM Limited, authorised and regulated by the Financial Conduct Authority (reg. no. SC079063, reg office 23 St Andrew Square, Edinburgh, Scotland, EH2 1BB)United States by First Sentier Investors (US) LLC, authorised and regulated by the Securities Exchange Commission (RIA 801-93167)other jurisdictions, where this document may lawfully be issued, by First Sentier Investors International IM Limited, authorised and regulated in the UK by the Financial Conduct Authority (FCA ref no. 122512; Registered office: 23 St. Andrew Square, Edinburgh, EH2 1BB; Company no. SC079063).To the extent permitted by law, MUFG and its subsidiaries are not liable for any loss or damage as a result of reliance on any statement or information contained in this document. Neither MUFG nor any of its subsidiaries guarantee the performance of any investment products referred to in this document or the repayment of capital. Any investments referred to are not deposits or other liabilities of MUFG or its subsidiaries, and are subject to investment risk, including loss of income and capital invested.© Igneo Infrastructure Partners
This week Nick talks to Nadine Buckland.Nadine has over two decades of experience in advisory and investment. She co-founded Zenzic Capital in 2014 alongside Tom Lloyd-Jones. Before establishing Zenzic, Nadine held positions in insolvency and transaction advisory at Horwath Clarke Whitehill, RSM Tenon, and Baker Tilly.Nick and Nadine discuss the evolution of the UK and European non-bank lending market, with a particular focus on real estate credit. Nadine shares her journey from insolvency roles to co-founding Zenzic Capital, a specialist in opportunistic real estate debt. They highlight the increasing demand for alternative lending solutions, particularly in the SME and mid-market real estate sectors, where traditional bank appetite remains constrained. Key trends include the rising use of preferred equity and short-term credit facilities to help borrowers manage refinancing and bridge valuation gaps in a higher interest rate environment. Nadine also highlights the growing role of inheritance tax-efficient investment vehicles and the importance of flexible capital in supporting sectors such as affordable housing and purpose-built student accommodation.Looking ahead, they explore opportunities in continental Europe, where non-bank lending remains comparatively nascent, particularly in markets such as Spain, Italy, and France. Zenzic Capital targets lower mid-market transactions (£20 million to £50 million), offering flexible capital where larger credit providers are less active. Success in these markets relies on deep local market knowledge, strong underwriting standards, and building long-term borrower relationships to navigate Europe's fragmented legal and regulatory landscape. The conversation underscores how non-bank real estate lenders are well positioned to benefit from Europe's wave of refinancing demand and the growing requirement for alternative, relationship-driven capital, positioning firms like Zenzic at the forefront of this dynamic market. Nadine's book choice was: Five Minutes in the Morning by AsterNadine's music choice was:Moon River by Andy WilliamsThis content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
Earlier this year Igneo extended its exposure to the waste sector with the acquisition of the 170 year old B+T Group, an integrated waste management company which operates across France and Germany. In the NEWSFLASH episode of Keeping it Real Assets Nils Plaine provides an overview of the company and its positioning across waste sorting and treatment and energy-from-waste as well as our outlook for the sector and the company.********************** Important information This material is for general information purposes only. It does not constitute investment or financial advice and does not take into account any specific investment objectives, financial situation or needs. This is not an offer to provide asset management services, is not a recommendation or an offer or solicitation to buy, hold or sell any security or to execute any agreement for portfolio management or investment advisory services and this material has not been prepared in connection with any such offer. Before making any investment decision you should consider, with the assistance of a financial advisor, your individual investment needs, objectives and financial situation. We have taken reasonable care to ensure that this material is accurate, current, and complete and fit for its intended purpose and audience as at the date of publication. No assurance is given or liability accepted regarding the accuracy, validity or completeness of this material and we do not undertake to update it in future if circumstances change. To the extent this material contains any expression of opinion or forward-looking statements, such opinions and statements are based on assumptions, matters and sources believed to be true and reliable at the time of publication only. This material reflects the views of the individual writers only. Those views may change, may not prove to be valid and may not reflect the views of everyone at Igneo Infrastructure Partners or First Sentier Investors. About First Sentier Investors References to ‘we', ‘us' or ‘our' are references to Igneo Infrastructure Partners or First Sentier Investors (as applicable). First Sentier Investors is a global asset management business which is ultimately owned by Mitsubishi UFJ Financial Group. Igneo Infrastructure Partners is an unlisted infrastructure asset management business and is part of the First Sentier Investors Group. We communicate and conduct business through different legal entities in different locations. This material is communicated in:[1] Australia and New Zealand by First Sentier Investors (Australia) RE Ltd, authorised and regulated in Australia by the Australian Securities and Investments Commission (AFSL 240550; ABN 13 006 464 428) European Economic Area by First Sentier Investors (Ireland) Limited, authorised and regulated in Ireland by the Central Bank of Ireland (CBI reg no. C182306; reg office 70 Sir John Rogerson's Quay, Dublin 2, Ireland; reg company no. 629188)Hong Kong by First Sentier Investors (Hong Kong) Limited and has not been reviewed by the Securities & Futures Commission in Hong Kong. First Sentier Investors and Igneo Infrastructure Partners are business names of First Sentier Investors (Hong Kong) Limited. Singapore by First Sentier Investors (Singapore) (reg company no. 196900420D) and this advertisement or material has not been reviewed by the Monetary Authority of Singapore. First Sentier Investors (registration number 53236800B) and Igneo Infrastructure Partners (registration number 53447928J) are business divisions of First Sentier Investors (Singapore).Japan by First Sentier Investors (Japan) Limited, authorised and regulated by the Financial Service Agency (Director of Kanto Local Finance Bureau (Registered Financial Institutions) No.2611)United Kingdom by First Sentier Investors International IM Limited, authorised and regulated by the Financial Conduct Authority (reg. no. SC079063, reg office 23 St Andrew Square, Edinburgh, Scotland, EH2 1BB)United States by First Sentier Investors (US) LLC, authorised and regulated by the Securities Exchange Commission (RIA 801-93167)other jurisdictions, where this document may lawfully be issued, by First Sentier Investors International IM Limited, authorised and regulated in the UK by the Financial Conduct Authority (FCA ref no. 122512; Registered office: 23 St. Andrew Square, Edinburgh, EH2 1BB; Company no. SC079063).To the extent permitted by law, MUFG and its subsidiaries are not liable for any loss or damage as a result of reliance on any statement or information contained in this document. Neither MUFG nor any of its subsidiaries guarantee the performance of any investment products referred to in this document or the repayment of capital. Any investments referred to are not deposits or other liabilities of MUFG or its subsidiaries, and are subject to investment risk, including loss of income and capital invested.© Igneo Infrastructure Partners
In this weeks episode Nick talks to Frank BuchholzRetired financial advisor Frank J. Buchholz shares insights from his 40-year career in investment advising, particularly his time at Merrill Lynch. He discusses his motivation for writing The Investor's Golden Playbook, a book designed to help novice investors navigate the financial world using clear principles, including assessing time horizon, risk tolerance, and tax implications. Frank emphasizes the importance of long-term investing, the power of compounding, and the need for a “money buffer” for emergencies. He advocates for managed accounts over stock-picking and warns against speculative investments like commodities and cryptocurrencies.Nick and Frank discuss Frank's memorable lessons from influential clients and mentors, highlighting real-life examples of disciplined investing and generosity. He advises young people to start saving early—citing the compounding effect of even modest daily contributions—and stresses the value of seeking guidance from trustworthy advisors. Frank also reflects on his own financial philosophy, his philanthropic approach to book proceeds, and his continued passion for helping others build secure financial futures.Frank's book choice was: The Art of the Deal by Donald Trump https://www.worldofbooks.com/en-gb/products/trump-the-art-of-the-deal-book-donald-trump-9781847943033?Frank's music choices where:Led Zeppelin - Stairway to Heaven https://open.spotify.com/track/0DANcJuMamcL9NyYkEWWTqWhitney Huston - The Greatest Love of Allhttps://open.spotify.com/track/6yJxCltgtmGxIgKOS6ndnuThis content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
Marina Reason and Ioannis Asimakopoulos discuss the scope of the new UK crypto rules and highlight the top 3 takeaways. They consider the draft legislation that will bring certain cryptoassets within the financial services regulatory perimeter. They also outline the key aspects of a related Financial Conduct Authority (FCA) discussion paper that sets out the FCA's initial proposals for regulating these new activities. Speakers: Marina Reason, Partner, Financial Services Regulation, London and Ioannis Asimakopoulos, Senior Associate, Financial Services Regulation, London.
In the latest episode of the What the FinTech? podcast, we're joined by Clare Pearson, Head of Technology Operations & Delivery Management at Fnality, for a deep dive into digital payment trends. Clare and FinTech Futures reporter Cameron Emanuel-Burns explore the outlook for cross-border real-time payments, tokenisation, digital wallets, and the evolving role of cards in a shifting payments landscape. The discussion also delves into Clare's experience at the Payment Systems Regulator (PSR), her views on its integration into the Financial Conduct Authority (FCA), and her reflections on serving as a judge for this year's PayTech Awards. And finally, we find out which fintech buzzword Clare wants to throw into or rescue from our Fintech Jail!
In this the fourth episode of our Innovation in Infrastructure podcast mini-series we are delighted to welcome Hans Kreisel, the CEO of Igneo Swedish portfolio company Nordion Energi. Society is in the midst of a major climate transition where gas and electricity infrastructure will play a key role. There is no shortage of renewable energy. The challenge is to make it available – where it is needed, when it is needed and at a competitive price. To manage the transition, the energy systems for electricity, gas and heat need to be linked together. Nordion Energi believes that innovation, strategic partnerships and taking an active role in societal dialogue can contribute to this change. This episode explores a number of strategic projects the Company is working on across biogas, hydrogen and CCS.********************** Important information This material is for general information purposes only. It does not constitute investment or financial advice and does not take into account any specific investment objectives, financial situation or needs. This is not an offer to provide asset management services, is not a recommendation or an offer or solicitation to buy, hold or sell any security or to execute any agreement for portfolio management or investment advisory services and this material has not been prepared in connection with any such offer. Before making any investment decision you should consider, with the assistance of a financial advisor, your individual investment needs, objectives and financial situation. We have taken reasonable care to ensure that this material is accurate, current, and complete and fit for its intended purpose and audience as at the date of publication. No assurance is given or liability accepted regarding the accuracy, validity or completeness of this material and we do not undertake to update it in future if circumstances change. To the extent this material contains any expression of opinion or forward-looking statements, such opinions and statements are based on assumptions, matters and sources believed to be true and reliable at the time of publication only. This material reflects the views of the individual writers only. Those views may change, may not prove to be valid and may not reflect the views of everyone at Igneo Infrastructure Partners or First Sentier Investors. About First Sentier Investors References to ‘we', ‘us' or ‘our' are references to Igneo Infrastructure Partners or First Sentier Investors (as applicable). First Sentier Investors is a global asset management business which is ultimately owned by Mitsubishi UFJ Financial Group. Igneo Infrastructure Partners is an unlisted infrastructure asset management business and is part of the First Sentier Investors Group. We communicate and conduct business through different legal entities in different locations. This material is communicated in:[1] Australia and New Zealand by First Sentier Investors (Australia) RE Ltd, authorised and regulated in Australia by the Australian Securities and Investments Commission (AFSL 240550; ABN 13 006 464 428) European Economic Area by First Sentier Investors (Ireland) Limited, authorised and regulated in Ireland by the Central Bank of Ireland (CBI reg no. C182306; reg office 70 Sir John Rogerson's Quay, Dublin 2, Ireland; reg company no. 629188)Hong Kong by First Sentier Investors (Hong Kong) Limited and has not been reviewed by the Securities & Futures Commission in Hong Kong. First Sentier Investors and Igneo Infrastructure Partners are business names of First Sentier Investors (Hong Kong) Limited. Singapore by First Sentier Investors (Singapore) (reg company no. 196900420D) and this advertisement or material has not been reviewed by the Monetary Authority of Singapore. First Sentier Investors (registration number 53236800B) and Igneo Infrastructure Partners (registration number 53447928J) are business divisions of First Sentier Investors (Singapore).Japan by First Sentier Investors (Japan) Limited, authorised and regulated by the Financial Service Agency (Director of Kanto Local Finance Bureau (Registered Financial Institutions) No.2611)United Kingdom by First Sentier Investors International IM Limited, authorised and regulated by the Financial Conduct Authority (reg. no. SC079063, reg office 23 St Andrew Square, Edinburgh, Scotland, EH2 1BB)United States by First Sentier Investors (US) LLC, authorised and regulated by the Securities Exchange Commission (RIA 801-93167)other jurisdictions, where this document may lawfully be issued, by First Sentier Investors International IM Limited, authorised and regulated in the UK by the Financial Conduct Authority (FCA ref no. 122512; Registered office: 23 St. Andrew Square, Edinburgh, EH2 1BB; Company no. SC079063).To the extent permitted by law, MUFG and its subsidiaries are not liable for any loss or damage as a result of reliance on any statement or information contained in this document. Neither MUFG nor any of its subsidiaries guarantee the performance of any investment products referred to in this document or the repayment of capital. Any investments referred to are not deposits or other liabilities of MUFG or its subsidiaries, and are subject to investment risk, including loss of income and capital invested.© Igneo Infrastructure Partners
I was trying to Buy my house in the UK and I came across a lot of issues that make it very hard. I made a full podcast episode but you can see the overview here. Resources: Think of this podcast as if you are sitting and chatting with friends. A lot of business tips and advice on how I progressed from my 9-5 office role to a Director of my own company. There will be banter about success and financial freedom the odd motivational speech to also give you a boost. I will share thoughts on various subjects and use this to document my career journey occasionally joined by guests. be sure to reach out if you have any questions. I will only send you emails relating to the topics I talk about in my podcast/show My Business Working for Yourself podcast is powered by TrustedCreators.org. Clarity
First hand experience based on my sale. Resources: Think of this podcast as if you are sitting and chatting with friends. A lot of business tips and advice on how I progressed from my 9-5 office role to a Director of my own company. There will be banter about success and financial freedom the odd motivational speech to also give you a boost. I will share thoughts on various subjects and use this to document my career journey occasionally joined by guests. be sure to reach out if you have any questions. I will only send you emails relating to the topics I talk about in my podcast/show My Business Working for Yourself podcast is powered by TrustedCreators.org. Clarity
Jes Staley, former CEO of Barclays, is contesting a £1.8 million fine and a lifetime ban imposed by the UK's Financial Conduct Authority (FCA) over allegations that he misled regulators about his relationship with convicted sex offender Jeffrey Epstein. The FCA asserts that Staley "recklessly misled" both the regulator and the Barclays board regarding the nature and extent of his association with Epstein, leading to his resignation from Barclays in 2021.In his defense, Staley contends that Barclays was fully aware of his longstanding professional relationship with Epstein, emphasizing that their interactions were primarily business-related. He argues that the FCA's decision was reached unfairly, without providing him or Barclays an adequate opportunity to respond. The ongoing tribunal will scrutinize over 1,200 emails exchanged between Staley and Epstein, with testimonies expected from prominent figures, including Bank of England Governor Andrew Bailey and Barclays Chairman Nigel Higginsto contact me:bobbycapucci@protonmail.comsource:Ex-Barclays boss Jes Staley says bank knew about his ties to paedophile Jeffrey Epstein - as he appeals a £1.8m fine and ban by the City watchdog | Daily Mail OnlineTo help support the podcast:https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support
Jes Staley, former CEO of Barclays, is contesting a £1.8 million fine and a lifetime ban imposed by the UK's Financial Conduct Authority (FCA) over allegations that he misled regulators about his relationship with convicted sex offender Jeffrey Epstein. The FCA asserts that Staley "recklessly misled" both the regulator and the Barclays board regarding the nature and extent of his association with Epstein, leading to his resignation from Barclays in 2021.In his defense, Staley contends that Barclays was fully aware of his longstanding professional relationship with Epstein, emphasizing that their interactions were primarily business-related. He argues that the FCA's decision was reached unfairly, without providing him or Barclays an adequate opportunity to respond. The ongoing tribunal will scrutinize over 1,200 emails exchanged between Staley and Epstein, with testimonies expected from prominent figures, including Bank of England Governor Andrew Bailey and Barclays Chairman Nigel Higginsto contact me:bobbycapucci@protonmail.comsource:Ex-Barclays boss Jes Staley says bank knew about his ties to paedophile Jeffrey Epstein - as he appeals a £1.8m fine and ban by the City watchdog | Daily Mail OnlineTo help support the podcast:https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support
Jes Staley, former CEO of Barclays, is contesting a £1.8 million fine and a lifetime ban imposed by the UK's Financial Conduct Authority (FCA) over allegations that he misled regulators about his relationship with convicted sex offender Jeffrey Epstein. The FCA asserts that Staley "recklessly misled" both the regulator and the Barclays board regarding the nature and extent of his association with Epstein, leading to his resignation from Barclays in 2021.In his defense, Staley contends that Barclays was fully aware of his longstanding professional relationship with Epstein, emphasizing that their interactions were primarily business-related. He argues that the FCA's decision was reached unfairly, without providing him or Barclays an adequate opportunity to respond. The ongoing tribunal will scrutinize over 1,200 emails exchanged between Staley and Epstein, with testimonies expected from prominent figures, including Bank of England Governor Andrew Bailey and Barclays Chairman Nigel Higginsto contact me:bobbycapucci@protonmail.comsource:Ex-Barclays boss Jes Staley says bank knew about his ties to paedophile Jeffrey Epstein - as he appeals a £1.8m fine and ban by the City watchdog | Daily Mail OnlineTo help support the podcast:https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support
“Analysis Paralysis: Did I Sell or Rent My House?”Ever find yourself stuck in a sea of research, overthinking every option? That's exactly where I was when faced with the ultimate decision—should I sell my house or rent it out? In this podcast, I take you through the rollercoaster journey of exploring both sides, weighing the pros and cons, and tackling the analysis paralysis that almost kept me from making a choice. Tune in for real talk on the emotional and financial factors that shaped my decision, along with tips and insights for anyone caught in the same dilemma. Does that feel like a good fit for your podcast tone? Or would you like it more casual or focused on a specific aspect? Resources: Think of this podcast as if you are sitting and chatting with friends. A lot of business tips and advice on how I progressed from my 9-5 office role to a Director of my own company. There will be banter about success and financial freedom the odd motivational speech to also give you a boost. I will share thoughts on various subjects and use this to document my career journey occasionally joined by guests. be sure to reach out if you have any questions. I will only send you emails relating to the topics I talk about in my podcast/show My Business Working for Yourself podcast is powered by TrustedCreators.org. Clarity
Jes Staley, the former CEO of Barclays, is currently challenging a ban imposed by the UK's Financial Conduct Authority (FCA) that prohibits him from holding senior positions in the financial sector. The FCA alleges that Staley misled regulators about the nature and extent of his relationship with the late financier and convicted sex offender Jeffrey Epstein. Central to the FCA's case is a 2019 letter from Barclays to the FCA, which stated that Staley did not have a close relationship with Epstein and that their last contact occurred well before Staley joined Barclays in 2015. However, evidence presented by the FCA, including approximately 1,200 emails exchanged between Staley and Epstein from 2008 to 2012, suggests a closer relationship. In these emails, Staley referred to Epstein as "family" and "one of our deepest friends," contradicting the claims made in the 2019 letter.Staley's defense argues that Barclays was fully aware of his longstanding professional relationship with Epstein, asserting that the bank's board had been briefed on the matter. They contend that the 2019 letter to the FCA was intended solely to confirm that neither Staley nor Barclays had any knowledge of or involvement in Epstein's unlawful conduct, rather than to define the closeness of their relationship. The hearing, which commenced on March 3, 2025, at the Upper Tribunal in London, is expected to last two weeks. It will feature testimonies from prominent figures in the financial sector, including Bank of England Governor Andrew Bailey and Barclays Chair Nigel Higgins. The outcome of this case could have significant implications for Staley's career and the broader financial industry, as it brings to light the responsibilities of senior executives in disclosing associations with controversial figures.to contact me:bobbycapucci@protonmail.comsource:Jeffrey Epstein: This ex-CEO is risking all to clear his name over the paedophile
Jes Staley, the former CEO of Barclays, is currently challenging a ban imposed by the UK's Financial Conduct Authority (FCA) that prohibits him from holding senior positions in the financial sector. The FCA alleges that Staley misled regulators about the nature and extent of his relationship with the late financier and convicted sex offender Jeffrey Epstein. Central to the FCA's case is a 2019 letter from Barclays to the FCA, which stated that Staley did not have a close relationship with Epstein and that their last contact occurred well before Staley joined Barclays in 2015. However, evidence presented by the FCA, including approximately 1,200 emails exchanged between Staley and Epstein from 2008 to 2012, suggests a closer relationship. In these emails, Staley referred to Epstein as "family" and "one of our deepest friends," contradicting the claims made in the 2019 letter.Staley's defense argues that Barclays was fully aware of his longstanding professional relationship with Epstein, asserting that the bank's board had been briefed on the matter. They contend that the 2019 letter to the FCA was intended solely to confirm that neither Staley nor Barclays had any knowledge of or involvement in Epstein's unlawful conduct, rather than to define the closeness of their relationship. The hearing, which commenced on March 3, 2025, at the Upper Tribunal in London, is expected to last two weeks. It will feature testimonies from prominent figures in the financial sector, including Bank of England Governor Andrew Bailey and Barclays Chair Nigel Higgins. The outcome of this case could have significant implications for Staley's career and the broader financial industry, as it brings to light the responsibilities of senior executives in disclosing associations with controversial figures.to contact me:bobbycapucci@protonmail.comsource:Jeffrey Epstein: This ex-CEO is risking all to clear his name over the paedophileBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.
Jes Staley, the former CEO of Barclays, is currently challenging a ban imposed by the UK's Financial Conduct Authority (FCA) that prohibits him from holding senior positions in the financial sector. The FCA alleges that Staley misled regulators about the nature and extent of his relationship with the late financier and convicted sex offender Jeffrey Epstein. Central to the FCA's case is a 2019 letter from Barclays to the FCA, which stated that Staley did not have a close relationship with Epstein and that their last contact occurred well before Staley joined Barclays in 2015. However, evidence presented by the FCA, including approximately 1,200 emails exchanged between Staley and Epstein from 2008 to 2012, suggests a closer relationship. In these emails, Staley referred to Epstein as "family" and "one of our deepest friends," contradicting the claims made in the 2019 letter.Staley's defense argues that Barclays was fully aware of his longstanding professional relationship with Epstein, asserting that the bank's board had been briefed on the matter. They contend that the 2019 letter to the FCA was intended solely to confirm that neither Staley nor Barclays had any knowledge of or involvement in Epstein's unlawful conduct, rather than to define the closeness of their relationship. The hearing, which commenced on March 3, 2025, at the Upper Tribunal in London, is expected to last two weeks. It will feature testimonies from prominent figures in the financial sector, including Bank of England Governor Andrew Bailey and Barclays Chair Nigel Higgins. The outcome of this case could have significant implications for Staley's career and the broader financial industry, as it brings to light the responsibilities of senior executives in disclosing associations with controversial figures.to contact me:bobbycapucci@protonmail.comsource:Jeffrey Epstein: This ex-CEO is risking all to clear his name over the paedophile
Should I sell or rent my house Resources: Think of this podcast as if you are sitting and chatting with friends. A lot of business tips and advice on how I progressed from my 9-5 office role to a Director of my own company. There will be banter about success and financial freedom the odd motivational speech to also give you a boost. I will share thoughts on various subjects and use this to document my career journey occasionally joined by guests. be sure to reach out if you have any questions. I will only send you emails relating to the topics I talk about in my podcast/show My Business Working for Yourself podcast is powered by TrustedCreators.org. Clarity
If you missed last week's special report, I urge you to take a look. Some of these are already starting to move, and fast .And so to today's piece. Tesla .I am just back from a two-week trip to the States, and what a time I had.I felt so privileged to be there at what feels like the dawn of a new golden age for this most amazing of countries.The first week I spent in Palm Springs, California, visiting my mum, and the second in Naples, Florida. Quite the contrast. One was Meltdown Central, the other was in a state of jubilation. Everyone everywhere was talking about the USAID revelations.I did not know Naples. What a stunning place. Hot, sunny, green, humid, beautiful (the architecture is lovely, even the newbuilds—that's traditional measures for you), polite, safe, cultured, healthy, delicious food. Life seems to slow down as soon you arrive. What's happening elsewhere no longer seems to matter. Were I to go there and settle, I think I would lose all ambition.The problem with settling there, though, is price. It has the most expensive real estate in the US. One house was for sale for $295 million. Even Satoshi Nakamoto would wince at paying that.“I told my kids, when they were growing up,” said Mike, who I was having dinner with, “this is not the real world. Naples is not reality. It's something else. They needed to know that.”I turned to his son—Matty Ice—the man who had brought me to Naples to talk tax, bitcoin, and other such things on the Runway Pod, an entrepreneur and family man in his early 30s. “Well, I'm not leaving. Why would I?”It turns out lots of people come to Naples on a temporary basis, then decide to stay.It's not just Naples real estate that is expensive, by the way. The whole of the US has got super dear. I paid $18 for a pint of beer in Miami airport. I had dinner at a friend's—he paid $60 for three steaks for the barbeque. I thought steak was cheap in the US. In a Palm Springs supermarket, I paid $4.99 for three organic onions. They saw me coming.In general, I would say food is twice the price it is here in the UK. And that's with a strong dollar. The country has got very expensive. Inflation is a big, big issue.My eldest son works in recruitment—in the chemicals industry—and most of the time he is recruiting in the US. He says US workers get paid three times the money for doing the same job as a UK worker - in that industry at least,But, whether it's Naples, neighbouring Fort Myers, or Miami, Florida; or Los Angeles or Palm Springs, California, there is also a lot of money in America. You can see it everywhere. It is several standard deviations of wealth up from the UK. The wealth is visible in the houses—even the middle-class houses—in the cars, in the clothes, in the prices. We in the UK have been left behind. It was not always like this.That wealth gap is only going to get bigger, as the UK continues to pursue high taxes, big regulation, mass migration, and zero growth, while the US goes in the other direction. The place is full of opportunity.Go to the US. Move there if you can, especially if you are young. The US was already something special, but something really special is happening there: the Washington purges are cleaning the place up. You've read the news, you've been on X, you've seen what's going on. You really don't need me to tell you.But watch what you eat. I put on 5 pounds (2 kilos) in just two weeks. Mind you, I couldn't stop eating. The food is yum. (People in the gym kept asking me how I got to be so lean - “by not living in America, and not eating American food” I explained).I don't believe this level of political reform would have happened to anything like the same extent without the involvement of Elon Musk. He really is doing God's work rooting out all that corruption. What emerges will be so much cleaner, more efficient, more honest, and more united.But of all the things I actually witnessed in person, do you know what most blew my mind?I did not expect this.It wasn't $295 million dollar houses. It wasn't all the private aircraft in Naples airport next to where we were recording.It was driving in a Tesla on autopilot. I'd never done it before. I know I am late to this, but OMG.Matty typed our destination into his computer, put the car into self-driving mode. Off it went.The Tesla was a noticeably better driver than I am. It positioned itself on the road well, staying in the middle of the lane at all times. It cornered beautifully. It maintained the exact right distance to the car ahead. It knew the speed limits of all the roads we drove on. It knew when the lights were changing and set off straight away. It has a 360-degree awareness—a human can only look in one direction—and knew exactly what other cars nearby were doing. It didn't get impatient and start doing silly things like jumping lights.With machine learning, each Tesla is feeding info back to HQ, so that every car is learning from the others' experiences. Teslas know the roads - every inch of them - better than you, even the local roads. They are learning how to deal with every conceivable traffic incident. This data-driven driving constantly updates.I am a backseat driver. I often push my foot down on the imaginary brake. As I was getting over my control issues, I did this at a red light in the distance. Turns out it was miles away. The Tesla braked at exactly the right time.It got us to our destination and then reversed and parked with precision into a tight spot. I'm a good parker. The Tesla was better. Of course it was. It has 360-degree vision, and my neck is getting stiff.The driving conditions were good. But how much better would it be in rain, fog or ice, I wondered.Tesla, Matty pointed out, is as much a software company—a platform like Airbnb, Facebook or TripAdvisor—as it is a car company.The next day, I had an Uber drive me from Naples to Miami airport.The Uber driver was good, but sometimes he was doing things on his phone—changing the podcast he was listening to, updating the map. “Look at the road,” I found myself thinking. Sometimes overt the 2-hour journey he strayed from the centre of the lane. One time he braked sharply. No such imperfection in the Tesla.Transport as we know it is about to changeThe main barriers to Tesla's self-driving progress are regulatory, but a certain Elon Musk is now in a position of influence. One of the reasons he is doing what he is doing is to clear out the regulators and bureaucrats who were so biased against him and blocked his progress—whom he came to despise.I think the regulatory barriers to self-driving vehicles start to come down quickly. Self-driving vehicles will soon be a feature on US roads. Then what happens?“I will have my car drop me at the office,” said Matty, “instruct it to pick me up at five, and then in the meantime I'll put it to work”. In other words, his car will not be idly parked all day. It will spend the day ferrying other people about. It will earn him money.Other Tesla owners will do the same. Suddenly owning a Tesla will become potentially profitable. A car will not be quite such a depreciating asset. No doubt some will buy fleets of them. Like any platform, Tesla itself is going to take a cut of the profit.Just to get the self-driving capability added to the software of the vehicle, you must pay another ten grand. Then comes the rent.Leaving your car parked 95% of the time, as most of us do—my car in London can stay parked for weeks at a time—is so inefficient. Not for much longer. At least, in the US. It'll be years before we allow it here in the UK or Europe. Of course, it will.What happens to American roads in the meantime? Fewer people are going to own cars, especially in cities. They won't need to. They can just call a Tesla. What happens to the rest of the auto industry? Fewer car sales. The cost of taxis though comes down. Drivers lose their jobs to robots. I guess something similar happens to the trucking industry too.The roads themselves are used more efficiently, as robots drive demonstrably better, leading to better traffic flow and less congestion.Public transport will see fewer users. Why use such a smelly system when you can travel privately in a Tesla? Self-driving cars were a pipe dream. That is about to change. American roads are about to change.There are other self-driving operators - Waymo, Cruise, or Mobileye - which are already fully operational in limited areas (ie driverless). They have partnered with the likes of Jaguar, Mercedes, Volvo and Hyundai, but they do not have Tesla's end-to-end autonomy. Nor do they have Tesla's immense network effect.The network effect is an incredibly powerful force in the evolution of a business. It's often more important that the tech itself (why, for example, VHS beat Betamax or CDs obliterated minidisk). It's why I advocate bitcoin ahead of other sh*tcoins. Tesla's dominance of roads could be on a par with Apple's dominance of the smartphone market. It is ahead of the pack.So should we all be buying stock in Tesla Inc (NASDAQ:TSLA)?Let's take a financial overview.Phew! It's an expensive company. A lot of what I've already described must already be priced in.With a market cap now over $1 trillion, it is among the world's most valuable companies.Annual revenue in 2024 was $98 billion, with minimal growth on the previous year. The pro-electric narrative of a few years ago has dissipated over the last couple of years.EBITDA for the twelve months ending in December 2024 was $15 billion. The EV-to-EBITDA, which compares the company's enterprise value to its EBITDA, stands at around 72, indicating a “premium valuation” relative to its operational earnings.Its trailing P/E ratio is high, high, high at 177, as is its forward P/E of 124. A lot of earnings growth is expected. This could reflect anticipation of Tesla's expansion into new markets, battery technology, and/or the self-driving revolution I have described, but it also points to a richly priced stock, for which investors are paying a substantial premium. The Price/Earnings to Growth (PEG) ratio, at 8.5, also implies Tesla is overvalued.Any setback—some kind of bad accident, a large insurance claim, a rival technology becoming suddenly competitive—and this stock can take a big hit.Turning to the company's financial health and profitability, Tesla's Return on Equity (ROE) is 10.4%—I've seen worse—and its Return on Invested Capital (ROIC) is 6%, which denotes an efficient use of capital, something Musk is known for.Tesla maintains a relatively low Debt/Equity ratio of 0.18, suggesting a conservative approach to leverage, which should reduce volatility. The current ratio of 2.02 indicates good short-term liquidity, allowing Tesla to meet its short-term liabilities comfortably.But it is a volatile stock—so perhaps one to buy on weakness. The 52-week high is $488, the low $139. You can more than double your money if you buy this well. Currently at $350 we are in the middle of the range—well up from the lows, but also well off the highs—and in a downtrend.Analysts, meanwhile, are divided. Predictions range from $115.00 to $550.00. reflecting a wide range of expectations.Tesla is unique. It has the potential to transform transport as we currently know it. It could have enormous first-mover advantage and a near monopoly on roads, as more and more people “put their car to work,” and what is currently an expense becomes a secondary source of income. It is the market leader, it is the technological leader, it could enjoy something of a monopoly on roads as it drives ahead of its competitors.To maintain and grow this valuation, it needs to stay ahead of rivals, it needs to overcome the regulatory barriers it faces, and it needs to manage the many inherent risks of the automotive and tech industries.But one thing Elon Musk has is vision. He will have seen all of this and be working towards it.I can quite easily envisage a scenario where Tesla's dominance of roads is near monopolistic—like Apple's dominance of phones or something.In such a scenario, its valuation will be a lot higher.It'll make money on the car, on the software, then on the rental.It will also be the most common car on the roads. Transport is about to change.Disclaimer:I am not regulated by the Financial Conduct Authority (FCA) or any other regulatory body as a financial advisor. Therefore, any information provided in this newsletter does not constitute regulated financial advice. It is solely an expression of opinion. Stocks are inherently risky. Please conduct your own due diligence and consult with a financial advisor if you have any doubts. Remember, markets can both rise and fall. I am not aware of your individual financial circumstances, so only invest money that you can afford to lose. This is a public episode. 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Episode 3 of our mini-series which focuses on Innovation in Infrastructure is here! We are delighted that Simon Montague from the GIAA is hosting this series. In this episode Simon is joined by Oscar Mann, Airport Innovation Lead, Technology at Australia's Brisbane Airport. Brisbane Airport was privatised in 1997 and is today owned by a public-private consortium that includes Igneo Infrastructure Partners. Simon and Oscar explore the value-driving innovations being pursued that add to airport safety, efficiency and customer experience in this airport focused episode!**********************Important informationThis material is for general information purposes only. It does not constitute investment or financial advice and does not take into account any specific investment objectives, financial situation or needs. This is not an offer to provide asset management services, is not a recommendation or an offer or solicitation to buy, hold or sell any security or to execute any agreement for portfolio management or investment advisory services and this material has not been prepared in connection with any such offer. Before making any investment decision you should consider, with the assistance of a financial advisor, your individual investment needs, objectives and financial situation.We have taken reasonable care to ensure that this material is accurate, current, and complete and fit for its intended purpose and audience as at the date of publication. No assurance is given or liability accepted regarding the accuracy, validity or completeness of this material and we do not undertake to update it in future if circumstances change.To the extent this material contains any expression of opinion or forward-looking statements, such opinions and statements are based on assumptions, matters and sources believed to be true and reliable at the time of publication only. This material reflects the views of the individual writers only. Those views may change, may not prove to be valid and may not reflect the views of everyone at Igneo Infrastructure Partners or First Sentier Investors.About First Sentier InvestorsReferences to ‘we', ‘us' or ‘our' are references to Igneo Infrastructure Partners or First Sentier Investors (as applicable). First Sentier Investors is a global asset management business which is ultimately owned by Mitsubishi UFJ Financial Group. Igneo Infrastructure Partners is an unlisted infrastructure asset management business and is part of the First Sentier Investors Group.We communicate and conduct business through different legal entities in different locations. This material is communicated in:[1]Australia and New Zealand by First Sentier Investors (Australia) RE Ltd, authorised and regulated in Australia by the Australian Securities and Investments Commission (AFSL 240550; ABN 13 006 464 428) European Economic Area by First Sentier Investors (Ireland) Limited, authorised and regulated in Ireland by the Central Bank of Ireland (CBI reg no. C182306; reg office 70 Sir John Rogerson's Quay, Dublin 2, Ireland; reg company no. 629188)Hong Kong by First Sentier Investors (Hong Kong) Limited and has not been reviewed by the Securities & Futures Commission in Hong Kong. First Sentier Investors and Igneo Infrastructure Partners are business names of First Sentier Investors (Hong Kong) Limited. 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SC079063, reg office 23 St Andrew Square, Edinburgh, Scotland, EH2 1BB)United States by First Sentier Investors (US) LLC, authorised and regulated by the Securities Exchange Commission (RIA 801-93167)other jurisdictions, where this document may lawfully be issued, by First Sentier Investors International IM Limited, authorised and regulated in the UK by the Financial Conduct Authority (FCA ref no. 122512; Registered office: 23 St. Andrew Square, Edinburgh, EH2 1BB; Company no. SC079063).To the extent permitted by law, MUFG and its subsidiaries are not liable for any loss or damage as a result of reliance on any statement or information contained in this document. Neither MUFG nor any of its subsidiaries guarantee the performance of any investment products referred to in this document or the repayment of capital. 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Jes Staley, former CEO of Barclays and senior executive at JPMorgan Chase, is embroiled in multiple lawsuits due to his association with Jeffrey Epstein. JPMorgan Chase has sued Staley, alleging that he concealed Epstein's illicit activities to maintain him as a client, thereby exposing the bank to legal liabilities. The bank seeks to hold Staley personally accountable for any penalties arising from related lawsuits and to recover compensation paid during his tenure. These legal actions stem from claims that Staley was aware of, and possibly participated in, Epstein's sex trafficking operations, with evidence suggesting he exchanged approximately 1,200 emails with Epstein between 2008 and 2012, some containing unexplained terms like "Snow White."The Financial Conduct Authority (FCA) in the UK has accused Staley of providing misleading information about his relationship with Epstein during their investigation. The FCA intends to ban him from senior financial roles and impose a £1.8 million fine, citing inconsistencies in his statements regarding interactions with Epstein. Staley's close ties to Epstein, including visits to Epstein's private island and correspondence during Epstein's incarceration, have raised serious concerns about his judgment and integrity. These revelations suggest a profound lapse in ethical standards, as Staley's actions may have facilitated or overlooked egregious misconduct, undermining trust in the institutions he led. to contact me:bobbycapucci@protonmail.comBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.
In this conversation, Freddie New, general counsel at The Little Car and Head of Policy at Bitcoin Policy UK, discusses the evolution of Bitcoin regulation in the UK. He highlights the historical context of regulatory attitudes, the role of the Law Commission in recognizing Bitcoin as property, and the challenges posed by the Financial Conduct Authority (FCA). The conversation also touches on banking access issues, the impact of fraud concerns, and the future of Bitcoin custodianship. They also discuss the strategic reserve held by the UK government, regulatory challenges faced by Bitcoin exchanges, and the broader policy goals for Bitcoin advocacy. Freddie sheds light on the political landscape and the need for engagement with politicians to promote Bitcoin-friendly policies. Additionally, they address the ECB's recent criticisms of Bitcoin and contrast the regulatory approaches of the UK and EU. Takeaways Freddie New advocates for Bitcoin policy in the UK. The UK has a history of misunderstanding Bitcoin. The Law Commission has recognized Bitcoin as property. The FCA has restricted access to Bitcoin products. Fraud concerns impact banking access for Bitcoin users. Bitcoin is seen as a unique form of money. The government is becoming more positive about Bitcoin. Banks are primarily concerned with self-preservation. The FCA's stance is a significant barrier to adoption. Bitcoin is for both individuals and institutions. The UK holds 61,000 Bitcoin, making it the third largest holder. There is a need for the UK to capitalize on its Bitcoin holdings. Self-custody of Bitcoin must remain legal in the UK. Access to exchanges and banking services is crucial for Bitcoin adoption. The UK should explore the potential of Bitcoin mining using renewable energy. Political engagement is essential for Bitcoin advocacy in the UK. The ECB's criticisms of Bitcoin are fundamentally flawed. The UK and EU have different regulatory approaches to Bitcoin. Pension funds are beginning to allocate assets to Bitcoin. Support for Bitcoin Policy UK can help influence positive change. Timestamps: (00:00) - Intro (01:00) - Who is Freddie New? (03:26) - An overview of Bitcoin regulatory scenario in the UK (08:00) - The shift in perception: From criminality to legitimacy (17:23) - Are banking onramps/offramps to Bitcoin a hurdle in the UK? (21:13) - AML regulations & their Implications for Bitcoin (26:21) - Sponsors (32:08) - The FCA's resistance to Bitcoin adoption in the UK; Strategic Bitcoin Reserve (40:43) - Sponsors (44:02) - Answering a questionnaire to buy Bitcoin in the UK? (47:51) - What are the Policy Goals for Bitcoin in the UK?; Bitcoin Developer community (53:06) - Politicians & their stance on Bitcoin advocacy (1:06:27) - Contrasting UK & EU Regulatory approaches (1:12:00) - How to support Bitcoin Policy UK? Links: https://x.com/freddienew Bill on digital property that's currently going through Parliament: https://bills.parliament.uk/bills/3766 Exchange walkthroughs: https://x.com/freddienew/status/1743644557441470496 https://uk.bitcoinpolicy.net/ http://www.bitcoinpolicy.uk/ Steve Baker speaking on Bitcoin in Parliament in 2014: https://www.youtube.com/watch?v=RXQpXYvUB98 Sponsors: Bold Bitcoin CoinKite.com (code LIVERA) mempool.space/accelerator Nomadcapitalist.com/apply Stephan Livera links: Follow me on X: @stephanlivera Subscribe to the podcast Subscribe to Substack
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