Investors who backed a rebranding of Cambridge Analytica are in a stand-off with former chief executive Alexander Nix after he allegedly withdrew more than $8m from the scandal-hit data firm shortly before it collapsed. 

Several people involved in the dispute told the Financial Times the withdrawal came shortly after Mr Nix learned British media were reporting on allegations about his company’s role in a massive leak of Facebook user data in March. Mr Nix did not respond to multiple requests for comment. 

According to these people, the investors are pressing Mr Nix to repay the money to Cambridge Analytica employees and investors.

Asia Pacific equities were broadly higher on Wednesday after technology stocks rallied on Wall Street overnight. The Hang Seng index gained 0.5 per cent while the S&P/ASX 200 was up 0.4 per cent in Sydney and Japan’s Topix rose 0.2 per cent. 

Futures tip the FTSE 100 to open flat while the S&P 500 is set to rise 0.2 per cent later on in New York.

The corporate calendar for Wednesday includes WH Smiths, Steinhoff, Workspace Group, Alpha FMC and IG Group. The economic calendar is keeping under the radar (all times London):

  • 08.15: Switzerland consumer price index
  • 12.00: Prime Ministers’ Questions

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