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Trading Places: Pimco nabs ex-White House adviser, Goldman exits, Simpson Thacher hires Blackstone GC
Pimco, the US bond giant, has appointed a former White House staffer to its advisory board — the second high…
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U.S. trade deficit widens in January
The numbers: The nation’s trade deficit widened 1.9% to $68.2 billion in January, the Commerce Department said Friday. Economists polled…
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Credit Suisse to shutter suspended funds with $10bn exposure to Greensill
Credit Suisse Asset Management has said it will terminate four funds valued at $10bn which it suspended on 1 March…
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Bitcoin’s chances of hitting $100,000 in 2021 stumble as Kanye West tipped to buy $100m
The likelihood of bitcoin reaching $100,000 in value this year has fallen to 36% following a difficult week for the…
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Mark Mobius: Yep we’re in a bubble, especially in crypto
Mark Mobius, the veteran emerging markets investor, has warned a bubble is forming in certain parts of the global financial…
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Ex-LSE boss Xavier Rolet: Listings shake-up will lure top firms to London
The proposed shake-up of UK listing laws has “nothing to do with Brexit” and is “long overdue” to ensure that London’s…
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UBS hikes bonuses by nearly 50% for senior employees after bumper year
UBS hiked bonuses for a select group of senior staff by nearly 50% after a bumper year for the Swiss bankers…
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Schroders boss says Spacs will help City ’embrace new world’
Peter Harrison, chief executive of FTSE 100 listed asset manager Schroders, says proposals designed to encourage international companies to list in…
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Powell sends warning to markets that Fed doesn’t want ‘persistent’ tightening in financial conditions
Federal Reserve Chairman Jerome Powell warned Thursday that the central bank would not sit back and let the financial market…
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Credit Suisse tells juniors to expense takeaways as deal boom makes all-nighters the norm
Investment banks are rolling out a new perk for juniors burning the midnight oil at home — free takeaways. Banks…
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Pimco adds former White House defence expert to advisory board
Pimco, the US bond giant, has appointed a former White House staffer to its influential advisory board — the second…
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Vaccine rollout helps end dry spell for UK equity fund inflows
Investment funds that invest specifically in UK-listed companies turned a corner in February, with the rapid rollout of Britain’s Covid…
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Hong Kong won’t appeal ex-JPMorgan banker bribery acquittal
The Hong Kong government won’t appeal the acquittal of an ex-JPMorgan banker accused of bribery after offering a job to…
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German watchdog orders Greensill Bank to close, halts firm’s acceptance of new payments
German regulator BaFin has slapped a ban on Greensill Bank for disposals and payments, and ordered it to close. The Federal Financial…
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GAM calls time on supply chain finance fund linked to Greensill
GAM, the Switzerland headquartered asset manager, has announced it will close an investment fund linked to Greensill Capital — the…
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New Citi CEO Jane Fraser unveils net-zero targets on first day at the helm
Citigroup chief executive Jane Fraser has used her first day at the helm of the US bank to unveil ambitious…
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Deutsche Bank shakes up junior recruitment to diversify from MBA hires
Deutsche Bank is overhauling the way it hires junior bankers, expanding jobs typically reserved for elite MBAs to professionals with…
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Greensill Capital planning insolvency amid deal talks with Apollo
Embattled financial startup Greensill Capital plans to file for insolvency in the UK this week, as it simultaneously moved toward…
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Regulators monitor Greensill as financier scrambles to sell core parts of business
Pressure mounted on embattled SoftBank Group-backed Greensill Capital as it scrambled to sell core parts of its business and regulators…
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M&G pledges to end thermal coal investments
M&G, the UK-listed fund management group, will begin to phase out coal across its investments, making it the latest asset…
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25 stocks of companies backed by rapid earnings growth as the economy reopens
With the pace of new COVID-19 cases slowing, many investors expect economic growth to accelerate over the course of 2021.…
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‘Before Covid, WFH was seen as a day at the golf course’: How the pandemic changed the City forever
On a cold, wet morning on 5 March 2020 around 100 equity research analysts were ushered down a fire escape…
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The record boom in blank-cheque firms could make 2021 the year of the Spac
The boom in special purpose acquisition companies – or Spacs – is set to continue and this year looks on…
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Greensill Capital: How the SoftBank-backed firm has ended up on the brink
Pressure is mounting on SoftBank-backed Greensill Capital after major backers signalled moves to halt trading in and out of the…
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FOMO driving billionaire hedge fund boss Daniel Loeb to ‘deep dive’ into cryptos?
Daniel Loeb, chief executive of hedge fund Third Point, said he has been on a “deep dive” into cryptocurrency recently…
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Goldman Sachs creates new London team to capitalise on Spac boom
Goldman Sachs has shifted two of its most senior equity bankers in London into a new team that will look…
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Almost a quarter of companies will be net zero by 2030, say Fidelity analysts
Analysts working at investment giant Fidelity International, the $706bn asset manager, predict almost a quarter of all the companies they…
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Stressed about saving for retirement? Focus on your ‘bottom line’
The cost of living is high — for some more than others — but a few changes in spending can…
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Goldman Sachs revives cryptocurrency desk to cash in on bitcoin hype
Goldman Sachs has relaunched its trading desk for cryptocurrencies as demand for bitcoin and other digital assets continues to increase.…
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Greensill Capital faces possible insolvency after Credit Suisse suspends investment funds
Greensill Capital is headed toward a rapid unraveling after Credit Suisse Group suspended $10bn of investment funds that fuelled the…
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This bank tripled negative interest-rate deposits — and expects that business to improve
The Bank of Ireland said on Monday that it tripled negative interest-rate deposits last year — and plans to further…
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M&A surges to record $405bn in February as tech deals boom: ‘2021 is shaping up to be incredibly busy’
Companies across the globe clinched almost $700bn worth of mergers and acquisitions during the first two months of the year,…
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Klarna valued at $31bn after Swedish fintech raises $1bn from funding round
Swedish payments giant Klarna has closed a fresh $1bn financing round, pushing the company’s valuation up to $31bn ahead of…
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Credit Suisse suspends $10bn in funds tied to Greensill
Credit Suisse said it suspended a group of private investment funds tied to supply-chain finance assets created by SoftBank-backed specialty-finance company Greensill…
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Here’s how bitcoin could become the preferred unit for global trading, says Citigroup
Bitcoin has reached a “tipping point” that could see it either be adopted as the preferred currency for international trade…
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Jane Fraser tasked with refreshing Citigroup
Jane Fraser wants to simplify Citigroup the original megabank. That won’t be easy. On 1 March, Fraser took over as chief executive…
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Credit Suisse explores ways to reduce links to Greensill Capital over Gupta exposure
Credit Suisse Group is looking at ways to reduce ties to Greensill Capital over concerns about the specialty finance firm’s…
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Americans can’t file their income taxes fast enough — but they should brace for some unwelcome news in their 2020 refunds
It seems like people can’t file their 2020 tax returns fast enough. People are filing their taxes at a blistering…
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Barclays ECM exec Febrer-Bowen lands new role weeks after retirement
The former head of continental European equity capital markets at Barclays has secured a new role leading corporate development at…
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U.S. trade deficit widens slightly in January, second highest on record
The numbers: The U.S. trade deficit in goods widened to $83.7 billion in January from a revised $83.2 billion in…
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Trading Places: HSBC’s big shake-up, BofA reshuffles M&A, a brutal bonus season
HSBC has named a number of new senior leaders in Europe, the US and the Middle East as the lender…
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Jupiter assets reach new record, despite investors pulling £4bn
Jupiter Fund Management suffered net outflows of £4bn last year, despite the FTSE 250 group posting an increase in profits and a…
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JPMorgan CFO Jennifer Piepszak says investment banking fees could be up 30% on Q1 2020
Investment banking fees at JPMorgan in the first quarter are likely to be up over 30% on the same period…
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Vanguard, BlackRock singled out for $170bn coal exposure
Vanguard and BlackRock, the world’s two largest asset managers, have been singled out for having the highest exposure to the…
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Axa IM assets reach record high after bumper 2020
Axa Investment Managers, the asset management arm of the French insurance giant, posted a more than three-fold increase in new…
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HSBC shrinks bonuses for London investment bankers by up to 20%
Investment bankers in HSBC’s London operations have seen bonuses decline by as much as 20%, as the UK lender has…
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Chuka Umunna calls out UK investment body over ethnic diversity push
The Investment Association has been called out for a lack of ethnic diversity on its board, after itself urging some…
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Jefferies backtracks on staff jab plan after memo demanded ‘verification of vaccination’
US investment bank Jefferies has backtracked on a policy that would have required all of its staff to receive a…
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Atom Bank sets sights on IPO by 2023 amid £40m fundraising
British challenger Atom Bank has said it plans to go public within the financial year 2022-23 as it nears profitability…
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European stocks rise after Wall Street rally as banks boosted by steepening yield curve
European stocks rose on Thursday, catching up with the rally on Wall Street after a key official laid out the…
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