Monthly Archives: March 2020

Assange denied bail

Wikileaks founder Julian Assange has had his application for bail denied and has been sent back to HMP Belmarsh in London. His application was rejected by District Judge Vanessa Baraitser at a hearing in Westminster Magistrates Court on 25 March. His lawyers argued that the application for bail was to avoid contracting coronavirus, which is beginning to sweep through prisons. The high security prison is no longer accepting visitors and more than 100 of its staff are self-isolating.

Continue reading Assange denied bail

Profit from pain…

In the middle of the worst public health crisis in our lifetimes comes some familiar news. There are always some who make a profit out of public adversity. So step forward Bill Ackman a hedge fund manager who according to The Guardian (26 March) has claimed his firm made $2.6bn (£2.2bn) betting that the coronavirus outbreak would cause a market crash. And this barely a week after telling US companies: “Hell is coming”. It seems that he took advantage of bond market turmoil to make almost 100 times his original outlay of $27m on bets on market movements. Meanwhile in the UK some 5 million self-employed workers are still awaiting to hear what kind of financial support they will get. After much delay, a government announcement is expected sometime today.

Continue reading Profit from pain…