Financial Services
- Finance
Trading Places: Refinitiv boss steps down, Kay Swinburne’s new gig, Deutsche Bank’s Brexit moves
Refinitiv’s chief executive David Craig is to step away from his role at the London Stock Exchange Group at the…
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Police crack down on illegal crypto mine in West Midlands raid
Police investigating what they thought was a cannabis farm instead uncovered a major cryptocurrency mining operation, which was illegally siphoning…
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Reuters postpones plans for website paywall after spat with LSE
Reuters has postponed plans to introduce a new paywall on its website, after complaints from the London Stock Exchange Group that the move…
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Brace for more shareholder fights after ‘major shift in power’ against oil giants
Shareholder battles that have rocked two of the world’s biggest oil companies are expected to spill over to other sectors,…
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Bitcoin is ‘impossible to shut down’, says Ark’s Cathie Wood
It is “impossible [for regulators] to shut [bitcoin] down” and regulators will become “a little more friendly over time” towards…
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U.S. investors are pouring money into European stock funds
U.S. investors have stepped up their purchases of European stocks — even as performance this year has been neck-and-neck with…
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Mortgage rates drop back below 3% — here’s how much Americans could save by refinancing
Benchmark mortgage rates again dropped below 3%, giving Americans yet another opportunity to refinance, and lock in historically low financing.…
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Celebrity fintech Lanistar breaches advertising rules as ‘misleading’ security claims continue
Promotions by fintech startup Lanistar claiming its payments cards were “the world’s most secure” were misleading and must not be made again,…
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London’s IPO race is heating up — Here’s which investment firm could float next
Anyone who thought that the pandemic would dull investors’ appetite for going public should think again. Listing this year so far:…
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Jefferies fast-tracks junior bankers amid burnout and battle for talent
US investment bank Jefferies is promoting its juniors faster, in line with some of its Wall Street rivals, as the…
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Police sound warning over social media sites driving scam investments
Investors have lost £63m to scammers flogging fraudulent investments on social media apps during the pandemic, The City of London…
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Zopa tells staff to ‘work from wherever’ for the rest of 2021
Fintech lender Zopa has told its employees they can work from “wherever they choose” until the end of this year,…
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Wall Street banks get prosecutor requests for information about Archegos
Federal prosecutors in New York have requested information about Archegos Capital Management from banks across Wall Street, according to people…
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HSBC plans exit from US retail market
HSBC will stop serving mass-market individual customers and smaller businesses in the US, exiting the bulk of a retail business…
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US banking chiefs grilled over pay gap between execs and employees
WASHINGTON — The chief executives of the six largest US banks drew fire from both Republicans and Democrats at a…
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Nvidia sales hit a record again amid chip shortage, and the earnings outlook suggests more on the way
Nvidia Corp. broke several quarterly sales records and forecast revenue growth as much as $1 billion above Wall Street estimates…
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Bitcoin no longer ‘fringe asset’ — stock-market volatility rises after crypto’s ‘extreme’ moves, study says
Like it or not, stock-market traders need to keep an eye on bitcoin prices or risk getting whipsawed when the…
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Archegos wipes off $6bn from top banks’ stock trading units in first quarter
The implosion of family office Archegos Capital wiped off more than $6bn from the world’s largest investment banks’ equities business,…
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Refinitiv boss to step down from London Stock Exchange data helm
Refinitiv’s chief executive David Craig is to step away from his role at the London Stock Exchange Group at the…
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‘Meme stock’ ETF targets retail investor boom
An exchange-traded fund that offers investors exposure to meme assets, and all the trending investments that social media has to…
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Morgan Stanley’s prime brokerage head steps down
Morgan Stanley’s global head of prime brokerage, Edward Keller, is stepping down from his role to deal with a personal…
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US banking chiefs to urge need for controls in cryptocurrency sector
The chief executives of major US banks including Citigroup and Bank of America have expressed their caution about cryptocurrencies in written…
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GAM joins rush to Asia growth with new Singapore office
GAM, the Swiss asset manager, has opened an office in Singapore, joining a growing list of foreign asset managers that…
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Watchdog orders crypto app Luno to halt ‘misleading’ London bus and Tube ads
The Advertising Standards Authority has ruled that advertisements for cryptocurrency exchange service Luno took advantage of consumers’ lack of experience. The…
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There’s a new ETF for stock-market FOMO
An exchange-traded fund that offers investors exposure to meme assets, and all the trending investments that social media has to…
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Barclays CEO Jes Staley marks first anniversary of murder of George Floyd
The chief executive of Barclays Jes Staley has marked the one year anniversary of the murder of George Floyd in…
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Goldman Sachs scores deal to target Chinese wealth market
Goldman Sachs Asset Management is to establish a wealth management joint venture in China, making it the latest foreign investment…
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Crypto ‘Wild West’ needs taming ahead of a UK bitcoin ETF
The outlook for the UK to approve a bitcoin exchange traded fund in the near future is opaque at best,…
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Deutsche Bank relocating 100 London-based jobs post Brexit
Deutsche Bank is moving a quarter of its staff at its UK corporate bank from London to offices in the…
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Crypto prices rebound as Musk mulls eco-friendly bitcoin mining
Tesla, MicroStrategy, Galaxy Digital and a number of other crypto-exposed businesses have joined forces to promote sustainable bitcoin mining, helping…
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HSBC has no plans to get into crypto, boss Noel Quinn says
HSBC is staying away from the cryptocurrency trading game, despite a number of its rivals planning to enter the space.…
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UK should leverage Brexit to lead global crypto rules, says City lobby
Brexit poses a “valuable opportunity” for UK policymakers to get ahead of global rivals in regulating cryptoassets, according to a…
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Fed paying close attention to China digital yuan, Brainard says
The Federal Reserve is paying close attention to China’s progress in developing a digital currency, especially its use in international…
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These are the UK’s wealthiest hedge fund managers in 2021
For the City, the last 12 months proved to be a record year in minting new billionaires, as Britain created…
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Hedge funds look to ramp up crypto exposure as institutional interest grows
Nearly nine in 10 hedge funds are looking to up their investments in cryptocurrency before the end of the year,…
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Trainee brokers can no longer make cold calls at BofA’s Merrill Lynch
Bank of America’s Merrill Lynch Wealth Management unit is banning trainee brokers from making cold calls, a vestige of an…
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Here’s why bitcoin dipped — and what crypto bulls think about it
Bitcoin took a beating over the weekend as China stepped up its curbs on cryptocurrency trading, falling almost 50% from…
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Tom Hayes to join corporate intelligence agency
Convicted Libor rigger Tom Hayes has joined corporate intelligence agency Red Mist. Hayes, who is awaiting a decision from the…
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LSE warns Reuters that paywall breaches Refinitiv deal terms
A rift between the London Stock Exchange Group and Reuters has opened up over the media company’s plans for a…
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Citigroup lays out plans for staff return to Canary Wharf
Citigroup will up the number of staff coming into its Canary Wharf headquarters from 21 June, on the back of…
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Why companies like crypto platform Coinbase are issuing a torrent of convertible bonds
Companies issued a torrent of convertible bonds since the pandemic hit, even before Coinbase Global Inc. brought out its own…
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Investors fear more property fund casualties after Aviva closure
Aviva Investors’ decision to shutter its UK Property fund could be the first of many permanent closures, as the real…
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PGIM Real Estate’s Eric Adler on the post-Covid office and why he’s an ‘odd’ American
Eric Adler is surprisingly upbeat considering what global real estate investors have had to endure since the onset of the…
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Trading Places: UBS and Deutsche make waves
UBS hired a senior Credit Suisse dealmaker to bolster its new unit aimed at increasing collaboration between its wealth management and…
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Bitcoin’s value ‘entirely based on wishful thinking’, says Deutsche Bank
The value of bitcoin is “entirely based on wishful thinking”, Deutsche Bank has said in a note to clients, adding…
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Fed will launch a broad discussion of a digital dollar this summer, Powell says
The Federal Reserve will ramp up its exploration of a digital dollar later this summer, Federal Reserve Chairman Jerome Powell…
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Deutsche Bank poaches from Credit Suisse for new ECM chief
Deutsche Bank has poached a senior dealmaker from Credit Suisse to lead its equity capital markets business in Europe, as…
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Bond trading ‘cartel’ lands Nomura, UBS and UniCredit with €371m fine
A raft of investment banks have been hit with multimillion euro fines after the EU Commission found traders had operated…
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Goldman Sachs takes $20m stake in London fintech ComplyAdvantage
Goldman Sachs has invested $20m in a London-based firm which uses artificial intelligence to track financial crime across networks for…
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Alphawave lures £11m hedge fund short bet after rocky IPO
Carmignac Gestion has taken the first major short position against Alphawave, after the semiconductor tech firm suffered a rocky start…
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