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12 Feb 2021 | 07:32

Friday newspaper round-up: Huawei, Bumble, Paperchase

(Sharecast News) - Huawei's battle to prevent the extradition of its chief financial officer from Canada to the US will open a new front at the British high court on Friday when the Chinese telecoms giant seeks an application to access records from inside HSBC in a bid to prove that she did not mislead the bank. The future of Meng Wanzhou has become a major three-way point of diplomatic and legal tension between China, Canada and the US since she was arrested at Vancouver airport in December 2018. - Guardian Shares in the dating app Bumble have soared by more than 76% in its stock market debut in New York, giving the company a $14bn (£10bn) valuation. The shares opened at $76 (£55) on the Nasdaq on Thursday, well above the initial public offering price of $43. Bumble, which is backed by the private equity firm Blackstone, joins the ranks of Snowflake, Airbnb and DoorDash, all of which had strong first days when they debuted last year. - Guardian

The City will lift its horizons and double down on global trade if the European Union cuts off access to its financial markets, grandees and experts have said. Senior figures across the Square Mile said that London will thrive after Brexit by focusing on fast-growing economies in Asia and Africa and investing heavily in new products such as green bonds. - Telegraph

The new owners of Paperchase chose not to refer their acquisition to a scheme that reviews the sale of failed companies' assets to connected parties. Permira Debt Managers, the credit arm of the eponymous private equity firm and a secured creditor to Paperchase, the stationer that collapsed last month, acquired the key assets of the business via a pre-pack administration. - The Times

The former head of the City regulator has announced he is joining the professional services firm that audits Klarna, a week after completing a review of the booming "buy now, pay later" sector. Chris Woolard is joining EY as a partner and will lead its financial services regulatory division across Europe, which seeks to advise banks and other financial services businesses on how to navigate regulation. - The Times

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