Billionaire Gerko Takes Trader Profit Tax Appeal Over to UK's Top Court
The XTX Markets Ltd. founder is at the UK Supreme Court this week over the tax treatment of a deferred payment plan while he was still running high-frequency trading strategies at GSA Capital Partners between 2010 and 2015. Judges ruled last year that Gerko and other traders should pay income tax on their share of the trading profits from the fund. The total size of the tax bill is some £22.5 million ($30.5 million).
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Yahoo
20 minutes ago
- Yahoo
Government to take control of Speciality Steel after insolvency
The government has taken control of the UK's third largest steelworks in a bid to save 1,450 jobs at the site. The high court confirmed on Thursday that Speciality Steel – previously part of Sanjeev Gupta's Liberty Steel business – would face a compulsory liquidation. The operation, which has plants in Rotherham and Stocksbridge in South Yorkshire, will be placed into the hands of the Official Receiver and special managers from advisory firm Teneo. Ongoing wages and costs to keep the plant running will be covered by the Government until a buyer is found. However, bosses at Speciality Steel said the move to wind up the business is 'irrational'. Jeffrey Kabel, chief transformation officer said: 'The decision to push Speciality Steel UK into compulsory liquidation, especially when we have support from the world's largest asset manager to resume operations and facilitate creditor recovery is irrational. 'The plan that GFG (Sanjeev Gupta's parent business) presented to the court would have secured new investment in the UK steel industry, protecting jobs and establishing a sustainable operational platform under a new governance structure with independent oversight. 'Instead, liquidation will now impose prolonged uncertainty and significant costs on UK taxpayers for settlements and related expenses, despite the availability of a commercial solution.' GFG said it will put forward a bid to retake control of the business alongside debt and equity partners and present this to the Official Receiver. A Government spokesperson said: 'We know this will be a deeply worrying time for staff and their families, but we remain committed to a bright and sustainable future for steelmaking and steel making jobs in the UK. 'It is now for the independent Official Receiver to carry out their duties as liquidator, including ensuring employees are paid, while we also make sure staff and local communities are supported.' UK Steel director general Gareth Stace said: 'UK Steel welcomes the Government's recognition of the importance of the Liberty Speciality Steel assets and hopes that a new owner is found quickly and can inject the investment and working capital required to return production volumes to previous levels. 'The assets produce high quality, specialist steels that serve high value markets. 'The low production levels of recent years have left significant holes in the domestic supply chain that have been filled by imports. 'We hope to see these holes quickly filled by UK-made steel.'
Associated Press
24 minutes ago
- Associated Press
A Hair Transplant Journey Starting in the UK, Completed in Turkey
ISTANBUL, TURKEY / ACCESS Newswire / August 21, 2025 / Established in Turkey, Esteworld now offers face-to-face consultations in London and continues its operations in its state-of-the-art hospitals in Istanbul. This combines clinical quality with the value that has made Turkey a global destination. Post-procedure care is provided in the country where the procedure was performed. August 20, 2025 Esteworld announced the launch of a new office in London, marking the next step in the brand's international growth. Having built its reputation by delivering hair transplant in Turkey services, Esteworld is expanding access for UK and European patients who want local guidance before and after surgery, with the procedure itself performed by experienced teams in Istanbul. 'Patients told us they want two things: the clinical excellence and value associated with Turkey, and the convenience of a local touchpoint,' said an Esteworld spokesperson. 'Our London office brings those together. People can receive assessments, treatment planning, and follow-ups close to home, while their surgical journey remains anchored in our established Turkish hospitals.' A seamless UK-Turkey care pathway The London location is designed for consultations (not surgical procedures) so patients can meet a medical consultant, discuss candidacy, choose the most suitable hair transplant method, and understand the expected timeline before traveling. This model makes the experience more accessible for patients who prefer face-to-face guidance without sacrificing the standards and efficiencies that Turkey offers. A great opportunity for those who cannot have a hair transplant in London. In Istanbul, Esteworld performs procedures such as FUE (Follicular Unit Extraction), Sapphire FUE, DHI (Direct Hair Implantation), and unshaven approaches for qualifying candidates. Technique recommendations are individualized, taking into account donor density, hair caliber, curl pattern, hairline design goals, and long-term planning to maintain a natural look as hair loss progresses. About Esteworld Established in 1994, Esteworld is an international healthcare group specializing in hair transplantation, plastic surgery, medical aesthetics, and dental aesthetics. With a network spanning 35+ countries, Esteworld delivers end-to-end patient pathways through coordinated local offices and advanced hospital facilities. Esteworld's hair restoration portfolio includes FUE, Sapphire FUE, DHI, and suitable unshaven approaches, supported by standardized clinical protocols, donor management strategies, and natural hairline design principles. Multilingual patient coordination, transparent pricing structures, and comprehensive post-operative follow-up are integral to the group's service model. Combining high surgical experience with evidence-based practice and rigorous safety standards, Esteworld focuses on outcomes that look natural and remain sustainable over time. The group's integrated approach aligns medical necessity with aesthetic goals, providing patients a reliable, seamless, and internationally accessible care experience. Why Turkey remains a leader in hair transplantation Turkey's prominence in hair restoration stems from high surgical volumes, specialized teams, and a service model that streamlines logistics for international patients. Many clinics (Esteworld included also) organize airport transfers, translation assistance, and post-operative kits to reduce friction during a short medical stay. The combination of experience, coordinated care, and competitive pricing has drawn patients from around the world. About hair transplant prices in Turkey While pricing always depends on the clinic, technique, surgeon seniority, and graft count, Turkey is widely recognized for cost-effective options compared with Western Europe and North America. Patients commonly encounter two pricing structures: Because individual needs differ (some require 2,000 grafts, others 4,000 or more) final costs are best determined after a professional evaluation that considers donor capacity and long-term hair-loss patterns. Esteworld emphasizes transparent quoting so patients understand exactly what is included before traveling. What patients can expect with Esteworld Consultation & candidacy: At the London office, patients receive a structured assessment that reviews medical history, scalp condition, and donor area. The consultant discusses realistic outcomes, hairline philosophy, and potential graft counts, and sets expectations around the growth timeline. Technique selection: FUE and DHI are the most frequently recommended techniques. FUE involves extracting follicular units individually and implanting them into micro-channels; Sapphire FUE uses sapphire-tipped tools for channel creation; DHI places grafts with pen-like instruments that allow precise angle and direction. The goal is to harmonize density, direction, and hairline shape with each patient's unique features. Surgery in Istanbul: Procedures are performed by dedicated teams in Esteworld's Turkish hospitals, where standardized protocols govern anesthesia, sterile technique, graft handling, and recipient site creation. High case volumes help refine micro-surgical skills and consistency, supporting natural, age-appropriate results. Safety, ethics, and realistic expectations Hair transplantation is a medical procedure, not a commodity. Esteworld advocates for evidence-based practice and thorough informed consent. Not every patient is an ideal candidate. Donor limitations, diffuse thinning, scarring alopecia, or certain medical conditions may call for conservative plans or a staged approach. Adjunct therapies (including topical agents, oral medications when appropriate, low-level laser therapy, and PRP) may be discussed as part of a personalized long-term strategy. A natural outcome depends on more than graft numbers. Key variables include the hairline's anatomic placement, graft angulation, distribution in zones of visual priority, and respect for future hair-loss progression. Esteworld's planning process prioritizes long-term aesthetics to avoid an unnaturally dense front with inadequate reserves for later. The patient journey, step by step Value without compromise By originating in Turkey and later opening a London office, Esteworld aims to combine the best of both worlds: the experience and efficiencies that come from a leading hair transplant Turkey ecosystem, and the reassurance of local, ongoing support. For many, this hybrid model shortens decision time, clarifies expectations, and maintains continuity from first conversation to final results. 'Patients deserve clarity,' the Esteworld spokesperson added. 'Our approach is to explain the medical reasoning, set goals that make sense for the long term, and deliver attentive aftercare. Opening in London lets us do even more of that, face-to-face.' Media Details : Name: Burak Tuncer E-mail: [email protected] Phone number: +90 216 474 54 54 Web: SOURCE: Burak Tuncer press release
Yahoo
an hour ago
- Yahoo
Smarter Web Taps Bitcoin Analyst Jesse Myers as Treasury Strategy Chief
The Smarter Web Company, a London-listed web design and marketing firm, has tapped Bitcoin analyst Jesse Myers to steer its Bitcoin strategy and investor messaging as it formalizes a cash-and-Bitcoin treasury policy. "I firmly believe that there will be a dominant Bitcoin treasury company in each capital market in the world," Myers said in a statement published by the London Stock Exchange on Thursday. Myers is known in the crypto industry for developing a model on unlocking Bitcoin's "full potential valuation," that went on to inspire Michael Saylor's "Bitcoin 24" framework. Saylor subsequently implemented this playbook at Strategy, the software firm whose work with Bitcoin has since spurred digital asset treasuries extending to other cryptocurrencies such as Ethereum, Solana, BNB, and XRP, among others. For Myers, the goal is to position Smarter Web as the UK analogue of Bitcoin treasury leaders such as Metaplanet in Japan and Strategy in the United States, characterizing their move as a "compelling outlook." In June, the company disclosed that Myers had invested about £970,000 in its fundraising round while serving as a part-time consultant on a £12,000 annual fee. His shift to a full-time post formalizes that commitment, supporting Smarter Web's plan to hold reserves in both cash and Bitcoin, a policy it says can strengthen its balance sheet but one that also exposes investors to volatility and regulatory risk. Smarter Web did not immediately return Decrypt's request for comment. The 10 Public Companies With the Biggest Bitcoin Portfolios Corporate Bitcoin treasury strategies Crypto observers have cautioned that digital asset treasuries, including those executed through corporate Bitcoin strategies, may blur the line between long-term balance sheet management and speculative positioning. Some exhibit patterns that risk "undermining confidence in legitimate DAT models and may constrain broader institutional adoption," Ryan Yoon, senior analyst at Tiger Research, told Decrypt. In an earlier conversation on how Windtree Therapeutics, a Pennsylvania-based drug developer, was booted out of Nasdaq's list of public firms, Yoon told Decrypt that while Michael Saylor has created a "powerful narrative in crypto markets," it has inadvertently spawned "a template that struggling public companies attempt to replicate." Nasdaq Boots Windtree a Month After $700M BNB Treasury Pivot Fails to Lift Stock Those companies, however, "typically lack substance beyond the narrative itself," Yoon said. Despite this, the key point from the massive accumulations that digital asset treasuries have continued to make is that they "represent structural strategy rather than one-time trades," according to a Q3 Bitcoin valuation report published Thursday by Yoon and his colleagues at Tiger Research. On the broader end, institutional Bitcoin accumulation continues to proceed at an "unprecedented pace," the report stated, citing how U.S. spot Bitcoin ETFs now hold around 1.3 million BTC, representing roughly 6% of the alpha crypto's maximum supply, while Saylor's Strategy has amassed 629,376 BTC valued at roughly $71.3 billion at current prices. The researchers argued that Strategy's Bitcoin accumulation executed through convertible bond issuances, "particularly signals the formation of a new demand layer." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
