Bloomberg Daybreak: Europe 05/21/2025
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. Today's Guests: Janet Mui, RBC Brewin Dolphin Head of Market Analysis (Source: Bloomberg)
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Associated Press
43 minutes ago
- Associated Press
A British TV art expert who sold works to a suspected Hezbollah financier is sentenced to prison
LONDON (AP) — An art expert who appeared on the BBC's Bargain Hunt show was sentenced Friday to two and a half years in prison for failing to report his sale of pricey works to a suspected financier of Lebanon's militant Hezbollah group. Oghenochuko Ojiri, 53, pleaded guilty to eight offenses under the Terrorism Act 2000. The art sales took place between October 2020 and December 2021. Ojiri, who also appeared on the BBC's Antiques Road Trip, faced a possible sentence of five years in prison in the hearing at London's Central Criminal Court, which is better known as the Old Bailey. In addition to the prison term, Justice Bobbie Cheema-Grubb said Ojiri faces an additional year on license. Ojiri sold about 140,000 pounds ($185,000) worth of artworks to Nazem Ahmad, a diamond and art dealer sanctioned by the U.K. and U.S. as a Hezbollah financier. The sanctions were designed to prevent anyone in the U.K. or U.S. from trading with Ahmad or his businesses. 'This prosecution, using specific Terrorism Act legislation, is the first of its kind and should act as a warning to all art dealers that we can, and will, pursue those who knowingly do business with people identified as funders of terrorist groups,' said Commander Dominic Murphy, head of the Metropolitan Police's Counter Terrorism Command. The Met's investigation into Ojiri was carried out alongside Homeland Security in the U.S., which is conducting a wider investigation into alleged money laundering by Ahmad using shell companies. Ahmad was sanctioned in 2019 by the U.S. Treasury, which said he was a prominent Lebanon-based money launderer involved in smuggling blood diamonds, which are mined in conflict zones and sold to finance violence. Two years ago, the U.K. Treasury froze Ahmad's assets because he financed Hezbollah, the Iranian-backed Shiite militant organization that has been designated an international terrorist group. Following Ojiri's arrest in April 2023, the Met obtained a warrant to seize a number of artworks, including a Picasso and Andy Warhol paintings, belonging to Ahmad and held in two warehouses in the U.K. The collection, valued at almost 1 million pounds, is due to be sold with the funds to be reinvested back into the police, the Crown Prosecution Service and the Home Office.
Bloomberg
an hour ago
- Bloomberg
Telefonica, Masorange Said to Hold Early Talks on Vodafone Spain
Telefonica SA and Masorange have held informal talks on a potential deal for Vodafone Spain, people familiar with the matter said, a move that could lead to further consolidation in the country's telecom market. One of the possible scenarios being explored would be to break up Vodafone Spain's fixed-line and its mobile or enterprise operations, due to possible antitrust issues, the people said. MasOrange could also potentially take over Vodafone's low-cost brand Lowi, one of the people said, asking not to be identified as the information is private.
Skift
an hour ago
- Skift
EasyHotel CEO Lays Out Growth Plans After Private Equity Buyout
It's scaling back a plan to double its hotels and it's not focused on profits. But expect a lot of growth in Spain and more franchising. EasyHotel plans to accelerate its growth across Western Europe following its acquisition this week by private equity firm Tristan Capital Partners. 'There's a lot of appetite in the market for budget hotels,' EasyHotel CEO Karim Malak told Skift. 'From a customer angle, the segment is growing in Western Europe and elsewhere. From an investor angle, it's an excellent asset class.' The deal, finalized on June 5, had a transaction value exceeding €400 million (about $455 million). Tristan now owns 100% of the budget hotel chain, which includes 48 properties and roughly 4,700 rooms across 11 countries. 'They're acquiring hotels, but they're also acquiring a platform to grow more hotels in Western Europe in the next couple of years. It only makes sense for them if there's growth,' he added. Founder Exit and Brand Continuity As part of the tran
