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Biden to U.N.: U.S. ‘will lead on all the greatest challenges of our time,’ but ‘not go it alone’
President Joe Biden on Tuesday promised the United Nations that the U.S. will address the world’s problems but will not…
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Digital broker eToro delays $10.4bn Spac listing until end of the year
Commission-free stock broker eToro said its Wall Street debut will be delayed because of regulatory hurdles for special purpose acquisition companies. EToro now…
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KPMG-audited German fund firm reveals years-long compliance failure in UK arm
A German fund group audited by KPMG has not complied with UK law in its London arm for years, Financial…
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Revolut gets US stock broking approval to take on Robinhood
British digital bank Revolut has been authorised as a licensed broker-dealer in the US, allowing it to expand its commission-free…
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Why Evergrande could spark a global financial market crisis
It is the non-Covid, non-inflation risk that has been lurking in the global backdrop for months: A looming default by…
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How Credit Suisse’s Archegos debacle shows up faults with rules for banks
When Archegos Capital Management blew up, it saddled Credit Suisse Group with $5.5bn in losses. One reason investors and regulators…
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Bank of America names Addas, Howe and Cocini to lead financial institutions group
Bank of America has promoted a trio of senior dealmakers to run its investment banking unit advising financial institutions. The…
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Lanistar faces claims from more than a dozen current and former staff over unpaid salaries
Celebrity-endorsed payment company Lanistar is facing a group employment tribunal claim from more than a dozen of its current and…
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HSBC ditches social distancing for UK bankers in office return push
HSBC is removing social distancing restrictions for investment bankers and traders in Canary Wharf and rolling out ‘refresher weeks’ for…
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London mayor calls for equivalence for the City, slams ‘no-deal Brexit’ for finance
London mayor Sadiq Khan will “put pressure on the government” to work with the European Union and deliver a post-Brexit equivalence…
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City fintech TrueLayer gains unicorn status in $130m funding round
TrueLayer, an open banking startup which provides financial data to Revolut, Cazoo and Nutmeg, is now valued at more than…
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Nike supply chain problems in Vietnam could mean challenges ahead for Dick’s Sporting Goods
Nike Inc.’s supply chain slowdown could also put the brakes on Dick’s Sporting Goods Inc.’s momentum, according to Wells Fargo,…
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EQT’s Christian Sinding: ‘We were pushing on the brake and the gas pedal at the same time’
EQT had spent only a few months as a publicly-listed company when the Covid-19 pandemic struck in March 2020, forcing…
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Upbeat result of COVID-19 vaccine trial in 5- to 11-year-olds tempered as U.S. daily death rate tops 2,000 for first time since March 1
Positive results from a trial of the COVID-19 vaccine developed by Pfizer and German partner BioNTech in children aged 5…
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A State Street, Invesco deal would provide ‘critical mass’ to take on BlackRock
At the end of last year State Street was reportedly weighing up options for its $3.6tn investment unit, one of…
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Bank of England says staff costs will rise from bringing EU laws into UK rulebook
The Bank of England will require more staff if the government pushes ahead with plans to transfer EU laws into domestic…
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As Allianz deals with a DOJ probe, asset management head Hunt is in talks to exit
Allianz’s top asset-management executive is in talks to leave the company, according to people familiar with the matter, as it navigates…
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Tiedemann and Alvarium close to merger deal with plans for a Spac
Investment firms Tiedemann Group and Alvarium Investments are close to a deal to merge and go public through a special-purpose…
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‘Even the apprentice gets equity’: City broker Cenkos eyes growth under new CEO Morse
Nearly three years ago, City broker Cenkos Securities was facing pressure from activist investor Crystal Amber to merge with a…
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FCA reviews environmental targets as work-from-home leads to ‘cliff-edge’ drop in emissions
The Financial Conduct Authority is revising its environmental targets in the wake of Covid-19 after seeing “cliff-edge” declines in emissions…
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Here’s what JPMorgan’s new UK digital challenger is going to look like
JPMorgan is to launch its digital banking challenger brand Chase in the UK on 21 September, after years of secretive…
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Goldman Sachs taps Jennifer Lopez to boost 10,000 small-biz campaign in the Bronx
US bank Goldman Sachs has partnered with A-list superstar Jennifer Lopez to reach Latina businesses in New York. Singer and…
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Prudential plans $2.89bn Hong Kong fundraise
Prudential PLC is planning to raise up to $2.89bn by issuing new shares as the insurer looks to redeem high-coupon…
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Lufthansa Eyes $2.5 Bln From New Capital Raise
By Joshua Kirby Deutsche Lufthansa AG is launching a capital increase worth 2.14 billion euros ($2.51 billion) as the German…
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Nursing homes are now facing a COVID resurgence, and a staffing shortage will only make it worse
Kathy Pacheco’s photographs tell the story of her husband’s life in a Philadelphia nursing home. In one photo, Joe Pacheco…
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Dow, S&P 500, Nasdaq close lower in weekly slump on ‘quad witching’ and weak consumer sentiment
U.S. stock indexes closed lower Friday, slumping for the week, as bearish momentum gathered steam after a reading on consumer…
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FDA panel recommends Pfizer’s COVID-19 booster for 65 and older, but not for the general public
A group of advisors to the Food and Drug Administration on Friday reframed a proposed approval of BioNTech and Pfizer’s…
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WHO warns lack of COVID-19 vaccine supply in Africa could make it breeding ground for new variants and ‘send the whole world back to square one’
The World Health Organization made another urgent plea to developed nations to make a greater effort to get vaccines against…
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Credit Suisse hires Rothschild’s Shakhmin to boost London dealmaker team
Credit Suisse has hired a senior banker to lead its diversified industrials coverage in Europe, as the Swiss bank looks…
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Trading Places: Goldman’s new CFO, crypto trader joins health firm, Deutsche Bank hires banker trio
It’s been quite the week over at Goldman Sachs. After a 28-year stint at the bank in various roles, Stephen Scherr…
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UBS promotes leveraged finance dealmakers as Mackey switches to investor relations
UBS has promoted two senior dealmakers to lead its leveraged finance business in Europe, after former head Sarah Mackey moved…
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Job hunting? There may be a case for putting your vaccination status on LinkedIn
As someone who’s been working in the recruiting and talent acquisition industry for two decades, Dustin Mazanowski knows how important…
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Citigroup bolsters Paris trading floor in post-Brexit battle for talent
Citigroup is expanding its trading hub in Paris, the latest sign of US investment banks stepping up their presence in the French capital…
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Five things in crypto this week: Binance, NFTs and Coinbase
In another busy week for cryptocurrencies, Binance, dogecoin and non-fungible tokens took the spotlight. As regulators continue to clamp down…
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Invesco in discussions to merge with State Street’s asset management business
Invesco is in talks to merge with State Street’s asset-management business, people familiar with the matter said. A deal isn’t imminent, and…
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Goldman’s just created an equity ETF targeting future tech leaders
A list of dominant tech companies will look ‘very different’ a decade from now, says Goldman’s Katie KochGoldman Sachs Group…
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Scientists continue to say there isn’t enough evidence to support giving COVID-19 boosters to all Americans
The U.S. is days away from President Joe Biden’s target date to begin rolling out COVID-19 booster shots to Americans…
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Coinbase applies to join crypto futures market
Cryptocurrency exchange Coinbase has filed an application to be approved as a futures provider, as it seeks to join the…
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Investec building out team of financial institutions dealmakers with Lewin hire
Mid-market focused investment bank, Investec, is building out its team of dealmakers focused on financial institutions, and has hired a…
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Monzo launches buy now, pay later product in Klarna rivalry
Digital bank Monzo has launched its own buy-now-pay-later tool, entering the nascent credit market as rivals such as Klarna fall…
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U.S. passes grim milestone as 1 person in every 500 has now died of COVID, as a debate about the need for booster shots heats up
The U.S. passed another grim milestone in the coronavirus pandemic on Thursday, when the number of fatalities from COVID-19 passed…
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Why regulators must open up their data to the City
Opening up regulatory data to the public sounds radical, doesn’t it? But there are strong precedents that show it’s technically…
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Job hunters are putting their vaccination status on LinkedIn and résumés. Should you do the same?
As someone who’s been working in the recruiting and talent acquisition industry for two decades, Dustin Mazanowski knows how important…
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Citi appoints global head of new business ventures for commodities team
US bank Citi has beefed up its commodities team as it appoints a new as global head of new business…
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Binance CEO eyes restructure to quell regulators’ concerns
Cryptocurrency exchange Binance is to restructure itself around a single centralised business, after regulators voiced concerns that they could not…
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Retail sales surge in August despite spread of delta and signal economy is still strong
The numbers: Sales at U.S. retail stores rose sharply in August in sign that Americans continued to spends gobs of…
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HSBC Asset Management appoints new senior portfolio manager
HSBC’s asset management arm has appointed a new senior portfolio manager on its emerging markets debt investment team. Caroline Keany,…
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Here’s why the SEC could take aim at stablecoins
The country’s top securities cop is talking tougher on cryptos, especially stablecoins, “staking,” and lending services. Democrats, meanwhile, appear keen…
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UK crackdown on risky trading threatens meme-stock platforms ‘constantly tempting consumers’
The FCA is tightening its grip on high-risk investments in a move experts fear could hit trading platforms offering people on…
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Ex-crypto hedge fund manager gets prison sentence for securities fraud
A cryptocurrency hedge-fund manager who lied about returns on his $90m fund and siphoned money from its accounts to cover…
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