Thursday newspaper round-up: Shell, Boohoo, Sam Bankman-Fried

The former NatWest chief executive breached data protection laws when she spoke to a BBC journalist about the planned closure of Nigel Farage’s bank accounts, the UK’s information watchdog has ruled. An Information Commissioner’s Office (ICO) report seen by the Guardian said that Alison Rose broke rules on two counts: first by revealing that Farage had a banking relationship with its private bank, Coutts; and secondly by providing “misleading information” that led the BBC to believe the bank was closing his accounts for purely commercial reasons, linked to his wealth. – Guardian

Shell’s new chief executive is poised to cut hundreds of jobs from the oil giant’s low-carbon division as part a plan to boost the company’s profits. Wael Sawan plans to shrink the number of staff working on low-carbon solutions by around 200 next year, after vowing to shift Shell’s focus towards high-profit oil projects and expanding its gas business when he became chief executive in January. – Guardian

Sovereign wealth funds and local councils are among a group of investors plotting a £100m lawsuit against Boohoo after allegations of modern slavery wiped more than £1bn from the company’s value. The fast fashion retailer is being targeted by City lawyers seeking compensation for shareholders who suffered losses after allegations of forced labour in Boohoo’s factories came to light in 2020. – Telegraph

Qatar has backed a £400m refinancing of struggling Canary Wharf in its first significant UK deal since the terror attacks on Israel sparked criticism of its links to Hamas. Canary Wharf Group (CWG) secured hundreds of millions of pounds in extra financing from Qatar’s sovereign wealth fund and its Canadian co-owner on Wednesday as the landlord struggles with high vacancy rates. – Telegraph

Sam Bankman-Fried plans to testify at his criminal fraud trial after his closest associates blamed the former billionaire for the collapse last November of his FTX cryptocurrency exchange. In a telephone conference on Wednesday with Lewis Kaplan, the judge who is overseeing the case in a federal court in Manhattan, Mark Cohen, Bankman-Fried’s lawyer, said the defence planned to call three other witnesses to testify briefly after prosecutors finished presenting their case. “Our client is also going to be testifying,” he said. – The Times