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☆ Cricket, a big business in India, brings star power to the U.S. with the country's first world cup
▼ + stars: | 2024-04-21 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +5 min

USA Cricket Vice-Captain Aaron Jones poses next to a giant cricket ball, installed at a marketplace to mark 100 days to go for the ICC Men's T20 World Cup, in Miami, Florida, on Feb. 22, 2024. But the sport has boomed in India, the world's most populous country, as well as some other former British colonies. And now, the U.S. men's national cricket team will represent the home country in this year's International Cricket Council Men's T20 World Cup. While traditional cricket matches can last as long as five days, a T20 match typically lasts around three hours. The early June world cup matchups will bring some of that star power to the U.S., with a high-profile India-Pakistan competition and culminating in a U.S.-India match.

Persons: Aaron Jones, Chandan Khanna, Peter Della Penna, it's, Disney, Forbes, RedBird, Jay Shah, Della Penna, —, Liam Plunkett, Dwayne Bravo, Mike Stobe, Tasmai Krishnan, Tasmai, he's Organizations: USA Cricket, ICC, Afp, Getty, U.S . Cricket, Major League Cricket, Los Angeles Knight Riders, MI, San Francisco Unicorns, Seattle, Seattle Orcas , Texas Super Kings, Washington, team, International Cricket Council, U.S, West, New York —, ESPN, Cricket, Disney Star Network, Indian Premier League, IPL, Rajasthan Royals, Control, NFL, BCCI, Angeles Olympic, Times, Icc, U.S . Locations: Miami , Florida, U.S, England, India, MI New York, Seattle Orcas , Texas, West Indies, —, Texas , Florida, New York, Success, Australia, New Zealand, Pakistan, South Africa, New York City

☆ A tech CEO died after falling 20 feet to the stage at a company event when a cable snapped
▼ + stars: | 2024-01-22 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

The CEO of an Illinois-based software firm died following an incident at a company event, reports say. The company was holding an event in Hyderabad, India to celebrate its 25th anniversary. AdvertisementA tech CEO died following an incident at a company event in India, multiple outlets reported. The two men can be seen falling out of the cage and plunging about 20 feet to the stage. Shah, 56, was the founder of Vistex and CEO of the revenue management software firm for 25 years.

Persons: Sanjay Shah, Vistex, —, Vishwanath Raju Datla, Shah Organizations: Service, The Times, Film, CBS News Locations: Illinois, Hyderabad, India

☆ US pension plans lose bid to block cum-ex tax fraud case
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

COPENHAGEN, Nov 21 (Reuters) - A group of U.S. pension plans has lost a bid to block Denmark's tax agency from pursuing millions of dollars from them in a "cum-ex" tax fraud case after a judge in a New York district court ruled the trial could proceed. Danish tax agency in 2018 filed civil lawsuits in federal district courts across the United States, accusing more than 100 retirement and pension plans of inflating the size of their Danish stock holdings in order to obtain higher tax refunds. In a bellwether trial in the New York court to help anticipate the results of future similar cases, the judge rejected arguments brought by seven defendants, meaning the Danish tax authority can proceed with its case. The second bellwether defendant group is the Solo group, which includes five U.S.-based pension plans, a lawyer, two trusts and their trustees. The Danish tax agency claims that British hedge fund trader Sanjay Shah masterminded a fraudulent scheme that involved submitting wrongful applications for dividend tax refunds on behalf of investors and companies around the world between 2012 and 2015.

Persons: Sanjay Shah, Shah, Bech, Bruun, Jacob Gronholt, Pedersen, David Evans Organizations: F Man Capital, Thomson Locations: COPENHAGEN, New York, Danish, United States, Denmark, Germany, Belgium, Dubai, London

Sept 22 (Reuters) - Deutsche Bank AG (DBKGn.DE) has hired Ainslee Withey, a Barclays (BARC.L) technology banker, as a managing director in its technology investment banking group for internet dealmaking, according to people familiar with the matter. Withey, who spent 15 years at Barclays and focused on internet investment banking, will be based in San Francisco and report to Deutsche's co-head of technology, media and telecoms (TMT) investment banking, Ajay Shah, the sources said, adding that she will start her new role in December. Deutsche declined to comment, while Barclays did not immediately respond to requests for comment. Withey started her investment banking career at Lehman Brothers in 2005 and joined Barclays three years later. In July, Deutsche hired 50 senior bankers in the origination and advisory business of its global investment bank.

Persons: Ainslee Withey, Deutsche's, Ajay Shah, Withey, Milana Vinn, Matthew Lewis Organizations: Deutsche Bank AG, Barclays, Deutsche, Lehman Brothers, Thomson Locations: San Francisco, Americas, New York

People enter a building before the annual shareholder meeting of Germany’s largest business bank, Deutsche Bank, in Frankfurt, Germany, May 23, 2019. REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsSept 22 (Reuters) - Deutsche Bank AG (DBKGn.DE) has hired Ainslee Withey, a Barclays (BARC.L) technology banker, as a managing director in its technology investment banking group for internet dealmaking, according to people familiar with the matter. Withey, who spent 15 years at Barclays and focused on internet investment banking, will be based in San Francisco and report to Deutsche's co-head of technology, media and telecoms (TMT) investment banking, Ajay Shah, the sources said, adding that she will start her new role in December. Withey started her investment banking career at Lehman Brothers in 2005 and joined Barclays three years later. In July, Deutsche hired 50 senior bankers in the origination and advisory business of its global investment bank.

Persons: Kai Pfaffenbach, Ainslee Withey, Deutsche's, Ajay Shah, Withey, Milana Vinn, Matthew Lewis Organizations: Deutsche Bank, REUTERS, Deutsche Bank AG, Barclays, Deutsche, Lehman Brothers, Thomson Locations: Frankfurt, Germany, San Francisco, Americas, New York

☆ Key suspect in Danish tax fraud could be extradited from Dubai, Denmark says
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +1 min

OSLO, Dec 29 (Reuters) - The Danish foreign ministry on Thursday said a Dubai court had ruled that the main suspect in a dividend tax fraud case can be extradited to Denmark for prosecution, although the decision will be appealed. Briton Sanjay Shah, who has denied any wrongdoing, is suspected of submitting applications on behalf of investors and companies for payouts from the Danish Treasury worth more than 9 billion Danish crowns ($1.3 billion). Known as "cum-ex", the alleged crime involved a sham trading scheme whereby investors were able to make double tax reclaims. Shah was arrested earlier this year by Dubai police following the request by Danish authorities to extradite him. ($1 = 6.9824 Danish crowns)Reporting by Terje Solsvik; Editing by Elaine Hardcastle and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ UK watchdog narrows dividend-stripping investigation
▼ + stars: | 2022-12-15 | by ( Kirstin Ridley | ) www.reuters.com time to read: +6 min

A German court this week sentenced tax lawyer Hanno Berger, alleged to have masterminded one of the country's biggest post-war frauds, to eight years in jail. It is the highest-profile prosecution and longest sentence to date in a series of trials that have also convicted British bankers. Although Britain was not impacted by cum-ex trading, much of the structuring and organising of the scheme took place in London, according to lawyers and authorities, some of whom turned to the country for help unpicking what had happened. It does not have the power to investigate tax fraud, but can investigate civil and criminal market abuse. One warning notice was sent in June 2020 to an unnamed former chief executive, according to a 2021 High Court judgment.

☆ Denmark's dividend tax lawsuit heads for UK Supreme Court
▼ + stars: | 2022-11-21 | by ( Kirstin Ridley | ) www.reuters.com time to read: +2 min

LONDON, Nov 21 (Reuters) - The Danish tax authority's attempt to pursue almost 80 defendants in London over alleged tax fraud, including Dubai-based hedge fund manager Sanjay Shah's Solo Capital Partners, is heading for the UK Supreme Court, lawyers said on Monday. The number of defendants has been whittled down to 79, lawyers for SKAT told a London case management hearing on Monday. London's High Court last year derailed the case,ruling that the Danish state could not use English courts to enforce its tax laws. Chris Waters, a managing partner at law firm Meaby & Co Solicitors, who is representing Shah and his companies, said it was a "significant step" that the UK Supreme Court would now also hear the case. A High Court judge will decide next week whether the complex case, or parts of it, will be delayed ahead of a Supreme Court ruling, lawyers said on the sidelines of the London hearing.

☆ India's women to receive same national appearance fees as men
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

NEW DELHI, Oct 27 (Reuters) - India's men and women cricket teams will be paid the same appearance fees to represent their country, Board of Control for Cricket in India (BCCI) Secretary Jay Shah said on Thursday. "We are implementing pay equity policy for our contracted BCCI women cricketers," Shaw wrote in a post on Twitter. "The match fee for both men and women cricketers will be same as we move into a new era of gender equality in Indian cricket." Under their current annual contracts, women cricketers in the highest bracket earn 5 million rupees, while Grade B players take home 3 million and Grade C, 1 million. Former India women team captain Mithali Raj hailed the announcement on Twitter as "historic".

☆ $15 billion delivery startup Gopuff tried to rip out a page from Amazon's playbook by poaching its managers. Insiders say a newfound metrics obsession 'destroyed' its operations.
▼ + stars: | 2022-09-06 | by ( Tom Dotan | ) www.businessinsider.com time to read: +11 min

Gopuff warehouse managers knew times had changed the moment their corporate bosses started needling them about employee bathroom breaks. These kinds of questions have become a regular occurrence, according to seven current and former Gopuff employees. Insider talked to a dozen current and former Gopuff employees at both corporate and regional levels. At that meeting, he said he wanted to level up the talent of the company's warehouse managers, two former employees said. Another former Gopuff manager said the company's Amazon hires seemed to take little interest in learning how Gopuff had been doing things previously.

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