Peter Oborne, formerly chief political commentator for the Daily Telegraph, has resigned from the paper, claiming that it went easy on a multinational bank in an effort to win back an advertising contract.
In a lengthy post published to opendemocracy.net, Oborne details a history of lickspittle coverage he says was caused by The Telegraph’s desire to repair a relationship with HSBC Holdings. After publishing six articles in an investigation into HSBC, The Telegraph’s investigations team was “ordered to destroy all emails, reports and documents related to the HSBC investigation,” Oborne writes.
This was the pivotal moment. From the start of 2013 onwards stories critical of HSBC were discouraged. HSBC suspended its advertising with the Telegraph. Its account, I have been told by an extremely well informed insider, was extremely valuable.