the firms near the top are largely based in the cayman islands.te equity investors. one of the main firms is led by a saudi businessman and the other is based in the united states. the hc—one group also has debts. it borrowed around £300 million in 2017 to buy more care homes rather than rent them. a bank lent most of the money at around 9% interest plus fees. but £80 million was borrowed at 15%—18% interest from commercial lenders, including one of hc—one's private equity owners. it transfers money from its care home operations through a number it transfers money from its care home . operations through a number of different means through offshore related party transactions mostly via the cayman islands. and that includes interest payments on its debt. within three years, the £80 million debt had grown to £120 million. it's a cost paid to themselves via cayman islands structures and this is a very common private equity tactic of moving money out of the operating company and to the ultimate investors in a way that maximises their profit and limits

i don't bank in the cayman islands...s and i had a trust which was completely legal and was done according to all types of rules. it's not a question of whether it was legal. it's whether in the current climate of business and esg and the responsibility and sustainability agenda, many people around the world think tax avoidance — minimising the legal amount of tax you pay — is not right when it leads you to put your money in places like the cayman islands and jersey. i'm asking you — you used to do that, do you think it's right today? when the capital was set up — ie, the hedge fund — that was how things were done. and the clients we had. large american universities, this is the way they wanted to be structured. that's the easiest way to avoid what they call a �*double taxation�*. and that's what we did. i always pay tax to the uk for all my earnings. during the whole pariod, i have been doing it. the important things for the sovereign wealth fund is that companies pay tax where the earnings are made, which it was also wh

so that should be a big step back from the united states becoming the new cayman islands, right? where crooks everywhere can go to hide their resources. is that a complete step? no, we need to see the regulations and what else needs to be done, but that's been a big step in the right direction. while most of our dark money draft has been in the wrong direction, you know, one of the topics we've looked at on this show before things like bitcoin and crypto currencies and the role they play, either constructively and helping give a new architecture to how we track stuff versus what we see is, you know, cyber attacks and ransom attacks, you know, sometimes done in bitcoin or other crypto currencies. to what degree are these emerging, you know, non federal backed weather, national back currencies coming on. part of the problem is you see it, there is kind of the new aspect of it and it's probably the one we understand, the least. but anything that confers anonymity on a bad actor is the danger. and so when a bad actress able to use a currency that allows them to avoid money laundering

maybe something in europe, something in america, something overseas in the cayman islands. a good. hey, i'm ready to do some serious money laundry. ok, let's see how we did. well, we've got a nice luxury watch for max and for stacy. oh, beautiful jewelry. and how about ha ha. luxury automobile again for my, you know, it, money laundering is highly regal. copier watch has a record to join me every thursday on the alex salmon shows and i'll be speaking to guess on the world politics sport business. i'm show business. i'll see you then. mm oh, the wrong one. i just don't know. i mean you world yes. to shape out disdain becomes the attitude and engagement equals the trail. when so many find themselves worlds apart, we choose to look for common ground. awe. back breaking, toil. forced labor. stress . industrial injury. corporal punishment. oh no. words with which we are all familiar. are you certain that the world you live in abolished slavery long ago? ah, meat mussman, he's 23 and lives in bangladesh, in a place called no. a holly. i went to my lovers and what about if i did on on wha

maybe something in europe, something in america, something overseas in the cayman islands, you never know all these banks are complicit. in the club piper, so we just have to give them a call and say, hey, i'm ready to do some serious my laundry. ok, let's see how we did. well, we've got a nice luxury watch for max and for stacy. oh, beautiful jewelry. and how about ha luxury automobile again, for my, you know, it, money laundering is highly legal. don't be a good a oh, that's our top headlines here on our t and the world health organization says the new amr crohn strain of cove. it has now been found and $38.00 countries with a virus spreading twice as fast as the belt of arian. just a moment will be joined live here in the studio by the president of the international red cross and red crescent federation in just a few minutes. twitter faces a barrage of accusations that are doing the u. s. government's bidding is off to the social media giant worked with a washington think tank in suspending. more than 3000 accounts from 6 countries for alleged states back to propaganda. and the u.

in the cayman islands, you never know all these banks are complicit in their property. we just have to give them a call. hey, i'm ready to do some serious money laundry. ok, let's see how we did. well, we've got a nice laundry watch for max and for stacy. oh, beautiful jewelry. and how about ha ha. luxury automobile again for mag, you know, it, money laundering is highly regal. copier. watch has a record. awe back breaking, toil, forced labor stress, industrial injury. corporal punishment. oh no. words with which we're all familiar with. are you certain that the world you live in abolish slavery long ago? would you exist back in the news after it published wednesday, part of the secret tax of a massive new trade pact called trans pacific partnership, or g p. p. wow. now thanks to wait. you lakes, we haven't even better idea just how dangerous the t p really is. to put a lot of light, the gpc would sacrifice national sovereignty, probably cal and internet freedom. that's what's going on. the huge struggle with governments and corporations want to keep information secret

maybe something in europe, something in america, something overseas in the cayman islands. you know, all these banks are complicit in the club. barbara, we just have to give them a call. hey, i'm ready to do some serious my laundry. ok, let's see how we did. well, we've got a nice laundry watch for stacy. oh, beautiful jewelry. and how about ha ha luxury auto bill? again for mag, you know what? money laundering is highly legal. don't watch as a report. the postal service delivery is a $155000000000.00 pieces of mail every year. approximately 40 percent of the world's mail right now the us postal service is in the flight of its life. and that is really bad financial shape. now facing default, the postal service is a cash cow, and there was a way to pull money out of the postal service to put into a federal budget. there was a mandate that you bring in a $100000.00, new revenue every month. the nature of privatization in the us postal service is very much hidden from public view. it's privatization from the inside out, a big business in money. it's not about the public and gi

we were on our way to becoming a bigger, better version of the cayman islands. frankly -- [inaudible] we would be an embarrassment to ourselves trying to host a democracy summit. i think that was a very important thing to do, send the message, lease of directionality is not of final success. >> i couldn't agree more. just on international front, you mentioned all the developments have happen in the time given issue. you mentioned all the development said happen in the times you've been working on the issue to bring you around to the idea that the national security issue. that's something that our project was kind of sounded to advance the idea of whereas traditionally i think people at thought of corruption a sort of maybe more of a development or at the. one of the big, we've had several things like the panama papers. think you mentioned those earlier, the series of leaks that show up people -- that's all point . regardless ofu think about that american public did see political elites, some with the most corrupt countries on earth. the russian problem hasn't go

maybe something in europe, something in america, something overseas, in the cayman islands, you never know all these banks are complicit in there too. personally, we just have to give them a call and say, hey, i'm ready sir. is my laundry. okay, let's see how we did. wow, we've got, oh, is that a nice laundry? watch for max and for stacy. oh, beautiful jewelry. and how about? ha ha. luxury automobile again for mag, you know, it, money laundering is higher, legal. don't be a cookie. much as a report technology is a very big industry and there's lot of opportunities for hackers moving that it's not here, but he didn't bring the law in that country you're dealing with why arrest him there. the major cybersecurity challenge is the sovereignty of laws that cyberspace has no borders, no sovereignty. we ended up with, for example, the national health service in the u. k. the n, a chess was completely wiped out from a ransomware attack. if you are coming into a clinic, because you had a test or you had an operation, they can't find your records. they had to go back to pen and paper. ah, a hel

set up here, maybe, or something in europe, something in america, something overseas, in the cayman islands. you know, all these ranks are completed in the club park or soon we deserve that being recorded. hey, i'm ready to do some serious my laundry. okay, let's see how we did. well, we've got a nice laundry flies for max and for stacy. oh, beautiful jewelry. and how about ha ha. luxury automobile again, for mag? you know what? money laundry is highly regal. copier watch has a record for shamans and the british prime minister to quit either his parties christmas gatherings last year when strict coded rules spans such events for everybody else, and also to come up to a 100 affair dead after tornadoes. rip across american states, but the disaster is also underlying the country's deep political divide with some politicians already trying to score points from the tragedy on the de stipend, literary classic. 1984 is getting a sequel of sorts. this time from a feminist perspective, we discuss whether though it's a timely update or perhaps a glimpse into the re writing and revising which george w

maybe something in europe, something in america, something overseas, in the cayman islands, you know, all these banks are complicit in the procedure. we just have to give him a call and say, hey, i'm ready to do some serious my laundry. ok, let's see how we did. well, we've got a nice, nice room watch for max and for stacy. oh, beautiful jewelry. and how about how much my bill again for my, you know, it money wondering if i don't watch it. ah, it goes to chill. tristan's goal is to chill. begin with each one is a small william. let's use a curriculum. well that again, is that with food potter with this you machine that i did with? no, i need to go put that amount with the me if per hour or so on with ah, millions of people face christmas things in travel chaos, science cobit outbreaks. also going to scrap their flight, leaving people stranded at airport, hopes for a new future all through a decade of turmoil dash thing lydia elections have been canceled after warlords, forgotten her riding around the capital for clinic and we speak with award winning service filmmaker, amy, a crew sto

maybe something in europe, something in america, something overseas in the cayman islands, you know, all these banks are complicit in their to proceed with, hey, i'm ready to do some serious money laundry. ok. let's see how we did. well, we've got a nice luxury watch for max and for stacy. oh, beautiful jewelry. and how about ha ha. luxury automobile again for mag? you know, it, money laundering is higher, legal. don't watch report. ah ah welcome back to cross stock were all things are considered i'm funeral about this is the home addition to remind you. we're talking about security for all. ah ok, let's go back to georgia in budapest. ok, in the 1st part of the program, we talked about really the kind of political diplomatic activities that are going on irrespective of how serious western policy makers are taking it. again, i want to read, reaffirmed everyone watching here is that we've gotten a lot of mixed messages. we have a barrel in the you saying that e u has a stake at the table, which was kind of interesting because they're the ones greatly affected by this. but i mean, the

in the cayman islands, you never know all these ranks are complicit in the procedure. we just have to give them a call and say, hey, i'm ready to do some serious my laundry. ok, let's see how we did. well, we've got a nice laundry watch for max and for stacy. oh, beautiful jewelry. and how about ha ha. luxury automobile again for mag, you know, it, money laundering is highly regal. don't be a cookie much has a record. ah . that breaking toil forced labor stress. mm. industrial injury. corporal punishment for me. oh no. words with which we're all familiar with the world you live in abolish slavery, long ago with the president of russia and the united states hold crisis talks triggered by tensions over ukraine. joe biden raises the threat of sanctions against moscow, while vladimir putin calls for diplomacy and slams cubes, attempts to undermine peace. a government is arrested in southern moscow after killing 2 people and injuring for others in the public services center. mm hm. and pope francis slams the e u for trying to enforce supposedly inclusive language, likening

bags all set up, or maybe something in europe, something in america, something overseas, in the cayman islands, you know, all these banks are complicit in the policy. we just have to give him a call and say, hey, i'm ready to do some serious my laundry. ok, let's see how we did. well, we've got a nice laundry watch for max and for stacy. oh, beautiful jewelry. and how about ha ha. luxury automobile again for mag, you know, it, money laundering is highly legal. don't get a report. yeah. you just of, she is a, she is a video almost show pretty much be with can sure the coordinates about a quarter blue your skin dome. yeah. but for the smile on the go pick, going to pick one very little less than the cost and then you should receive the other should just stick both with from one to 9 to boise only 2 to form. yeah, for tooth number 22. that's in the way speaking most of them from a sizable portion of those joke, a noise in the lead on more than as we said, that the gamma out boy, you will look forward to talk to my media studios mentioned you to waste figured out those might not spanish videos nea

all set up here, maybe something in europe, something in america, something overseas, in the cayman islands, you never know all these banks are complicit in their club piper. so we just have to give them a call and say, hey, i'm ready to do some serious my laundry. okay, let's see how we did. wow, we've got oh, we've got a nice luxury watch for max and for stacy. oh, beautiful jewelry. and how about ha ha, luxury automobile again, for mag, you know, it, money laundering is highly regal. copier watch has a record a russian president and indian prime minister wrap up top level talks and new delhi just a day before vladimir putin planned a video conference with joe biden kremlin spokesperson, who's in india with president putin slams nato's aggressive stance on moscow. dmitri pascall to spoke exclusively to our team moving in on that. now we see that legal demonstrations extremely aggressive positions with she missed the stolen bugs, rhetoric. we see that many different usb does rhetoric. we don't like the language that we do everything to ensure. oh, interesting with about the message from.

maybe something in europe, something in america, something overseas in the cayman islands, you know, all these banks are complicit in their to proceed with, hey, i'm ready to do some serious money laundry. ok. let's see how we did. well, we've got a nice laundry watch for max and for stacy. oh, beautiful jewelry. and how about ha ha. luxury auto bill? again for mag, you know, it, money laundering is highly regal. copier watch. ah, it states it has to be rash, to be able to afford enzyme, and find the luxury good for sure. despite having the most expensive health care system in the world, we have poor life expectancy. we have higher infant mortality. we have more deaths from treatable causes, so americans are suffering every day from it. it's as if these people don't count. i saw how they can choose your customers and dump the sick so also right and satisfy their wall street investors. no parents should have to see what i saw. so if you're denying payment for someone's care, your make life and death decisions and determine to get to live and who dies to me . that's best getting away w

with these shell companies listed in the united states through the british virgin islands or the cayman islands foreigners to participate. i've had chinese law experts tell me that essentially, while the internet was developing in china and developing these national champions, beijing turned a blind eye to this. it was in a legal gray area because they wanted these big companies to tap institutional foreign investors in new york and elsewhere abroad. they kind of allowed it. we really focused on this, redlines, that special we did earlier this year identifying the common thread as the vega -- the crackdown with beyond just antitrust, data security, we kind of said what is the common thread? all of these companies have v i.e. structures and the company and government is very concerned about the sensitive information in the hands of foreign investors. this is going to be a big story. emily: a potentially very big deal. stephen engle in hong kong for us. thank you for breaking that down. that does it for this edition of bloomberg technology. join us tomorrow. we will have the ceo of etsy. i am emi

maybe something in europe, something in america, something overseas, in the cayman islands, you never know all these banks are complicit in their club piper. so we just have to give them a call and say, hey, i'm ready to do some serious my laundry. ok, let's see how we did. well, we've got a nice luxury watch for max and for stacy. oh, beautiful jewelry. and how about ha ha. luxury automobile again for mag, you know, it, money laundering is highly regal. copier. watch has a record a worn drugs noted as a way to combat a grave problem. what's the warrant? it's part of the attitude of the nation, not just of north dakota, and it got to be something that you could get elected. this time the fight against drunk still good, tragic tom told us that andrew was competent. sean foreman. this is way too dangerous for him to be doing. clearly they put him in harm's way. a rural college student does interest get shot in the head and found in a river like that. something else had to be happening. is that the manual thing you all nominate up what they did in a viable mapping by high middle now i on

maybe something in europe, something in america, something overseas in the cayman islands, you know, all these banks are complicit in the procedure. we just have to give him a call and say, hey, i'm ready to do some serious my laundry. ok, let's see how we did. well, we've got a nice laundry watch for max and for stacy. oh, beautiful jewelry. and how about ha ha. luxury automobile again for mag, you know, it, money laundering is highly legal. don't watch as a record. ah, ever a family had success in getting their land back from the city of los angeles, the sheer others with a similar case are hoping they see the same type of justice. but some advocates aren't so sure others will have the same kind of success or to correspond natasha suite has more on one families at victory. this is, bruce is beat off the coast of southern california and a small town called manhattan beach, about 20 miles south of santa monica. and nearly a century ago, a black family had this land seized by eminent domain. and after getting it back, other families are hoping for a similar type of achievements. this

they're going to buy some of the companies at really discount prices i have been to court in the cayman islandso own them, short them >> a hand full of retail earnings expected next week including costco and lululemon shannon, you own costco. >> i do. we will be looking at their comments about inflation, but, more importantly, if they are benefitting from the fact some of their competitors, target, walmart supermarkets, are not able to do as much promotional activity maybe the perception that bulk equals value could be helping costco going through the winter. >> john over to you. you own lululemon. >> yes, frank, and the question is how big turn around in the bricks and mortar are we going to see also, obviously digital sales are really important they have several quarters where they were up nearly triple digits, nearly 100%. can they be another one of those quarters if it is, the stock goes back to 475. if it isn't, breaks down through 420. >> all right keep it rolling, john. final strads trades. you are first up >> sure, square, frank after the big sell-off, i don't think it is deserved i'm b

this kind of pressure on the structure, which it has through the cayman islands and the pressure fromit has logged in more than $500 billion in the last year. that is more market value than the entire market capitalization of jp morgan. >> asia's biggest company last year has now -- is now smaller than -- stephen engle in hong kong. up next, a new voice joining us -- supporting tapering of bond purchases. >> federal reserve chair supervision has joined the chorus of top officials opening the door to a asked bond purchase taper and accelerated rate hikes. our editor kathleen is here with the details. >> vice chair supervision definitely worried about inflationary. he too is very clear that he is on board with the speed of taper. he has devised that she is the vice chair until the end of the month. even so, he has been at the fed for several years on the board, right there with jay powell and the rest. what he is thinking is important to see as yet another sign of someone who has been doing this for a while, working with these issues. we probably need to pull back. he said it is not jus

gibraltar and the capitals of the falkland islands and the cayman islands are among 39 places vying ton's platinum jubilee celebrations. the winners will be announced injune next year. joining us now is leona roberts who is the member of the legislative assembly for stanley, a town in the falkland islands. they've bid to become a city. hello. why are you bidding, why doesn't stanley want to be a city? what would be the benefit? for us it's wonderful _ what would be the benefit? for us it's wonderful for _ what would be the benefit? for us it's wonderful for the _ what would be the benefit? for us it's wonderful for the overseas - it's wonderful for the overseas territory to have the opportunity and next year is going to be special for us as well because it's the 40th anniversary of the wire so to be awarded the status and what is going to be a very emotional and special yearfor us anyway would to be a very emotional and special year for us anyway would be particularly incredible. a huge honour and we are very excited to have our bid in and have everything cost. ~ ., have our bid in and

gibraltar and the capitals of the falkland islands and the cayman islands are among 39 places vying to year. joining me now is councillor richard holmes, who is the mayor of causeway coast and glens borough which includes colerarine. it's vying to gain city status as part of the queen's 2022 platinum jubilee. thanks forjoining thanks for joining today. thanks forjoining today. being from northern ireland myself i know the delights but for people who don't, why should coleraine be a city? headquarters here... this area is the golden coast of northern ireland, famous now for its scenery and for its golf, but coleraine itself, a special place in history. the oldest settlement on the island of ireland, on the banks of the river, 2500 years before the pyramids were built in giza. also in 450 ad... one of the first towns in the plantation of ulster, established in 1609. a very rich historical heritage in the town. you are looking — historical heritage in the town. you are looking to _ historical heritage in the town. you are looking to the history and heritage. what else do you have to do to

transfer profits to an offshore entity registered in places like the british virgin islands or the cayman islandsreign investors could own. it allows these companies like alibaba, like cnet.com, like more recently, to sell shares to foreigners and sidestep the investment rules that forbid foreign investment in critical, sensitive areas, like the internet. if china were to cut that off, it would cut off a lucrative line of business for wall street. it would potentially force the companies listed in the united states to either revamp their shareholder structure, delist if it is a particularly sensitive issue, such as dd.com. we have heard companies are already asking didi to look at delisting. where would they go next? potentially hong kong. haidi: to that point, what does it mean for hong kong as a listing destination given all of these return densities? >> i kind of led you there. that could be a huge boom to a market like hong kong. there's kind of rumblings, not-so-subtle, that beijing would like to see a homecoming of these chinese listed adr's in the u.s. back to hong kong. what is interestin

new york city from places like hawaii and the cayman islands?s like before the pandemic? john: is very much a place divided up into meeting spaces, and casual as well as more formal meeting spaces. there's all kinds of tables to sit around, there are areas together outside for more celebratory events, and within the building, there are all kinds of alcoves, there are balconies so you can wash what is going on. they are eating areas so you never really have to leave if you don't want to. it is kind of like what it is like working at 731 lexington for bloomberg. romaine: we had cheesecake today, you are missing out. john: i missing out here in l.a., we don't have that kind of stuff. i still think working from home -- there has to be a reason to go to work. that is the kind of spaces that companies like facebook and google is spending billions on a new york office building that has trees all over it. romaine: a lot of development here. a lot of people are making a bet that the office market will be bound not just in new york city, but across the un

gibraltar, and the capitals of the falkland islands and the cayman islands, are among 39 places vyingseas territories and crown dependencies are being included in the competition, as part of the queen's platinum jubilee celebrations. the winners will be announced injune next year. the duchess of cambridge has paid tribute to the inspirational people who served their communities during the pandemic. she delivered her message during a carol service held at westminster abbey earlier this month, which will be shown on christmas eve. the service will showcase music from the westminster abbey choir, as well as performances from leona lewis and ellie goulding. we wanted to say a huge thank you to all those amazing people out there who have supported their communities. we also wanted to recognise those whose struggles have perhaps been less visible, too. we have been through such a bleak time, we have seen so many challenges. we have lost our loved ones, we have seen our front—line workers under immense pressure. and, also, we have been more emotionally and socially distanced and isolated fro

variable interest entity structures that companies have been using to incorporate in the caymans or virgin islands and then lists in the united states which operates in a gray area to allow these companies to have foreign ownership. well, a lot has changed over these past few decades. rishaad: a lot has changed over the past two days. stephen: tell me about it. thank god it's friday. anyway, i'm rambling on. there is so much to digest here. the ultimate question is -- is this the first sign of the avalanche, of companies leaving the united states, chinese companies? rishaad: even more polarizing the world. david: just to clarify, didi's statements on the bloomberg if you want to read that. the timing is in march, so that's about 3, 4 months away to begin that ipo process. rishaad: so many things moving around in the tech space and the property side of things. let's bring in our greater china and apac equity strategist. jessica, what do you make of this? david: information overload. jessica: i think these listing concerns are just coming out of the woods. it has been in the media the last two or th