Financial Services
- Finance
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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U.S. stock market aims for turnaround Tuesday after Evergrande sparks worst day since May
U.S. stock indexes bounced modestly on Tuesday after the worst single day for the S&P 500 in more than four…
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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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JPMorgan says buy that S&P 500 dip, but you might want to look at this chart first
For those out there still licking their wounds from a selloff that probably even your teenager saw coming (via TikTok),…
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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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Evergrande contagion leaks into bond funds in Europe and US
The potential default of real-estate developer China Evergrande Group is taking a toll on funds in Europe and the US that chased…
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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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Why tether’s links to China is dragging bitcoin price down and other cryptos alongside
Bitcoin fell sharply on 20 September as a wave of selling triggered by tumult in China’s indebted property sector hit the…
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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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Evergrande fears sink stock market: Here’s what investors need to know about the teetering property giant
Evergrande, a Chinese property giant nursing more than $300 billion in debt, remains on the brink of default — sending…
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Here are the worst-performing U.S. stocks as the Evergrande crisis rattles investors
An expected bond default by real estate company China Evergrande Group led to a tumble for U.S. stocks Monday. The…
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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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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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Index-linked gilts bubble threatens £200bn loss for pension schemes
Many of the lucky pensioners who are beneficiaries of final salary schemes will have been able to shrug off the surge…
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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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How Evergrande’s woes are hitting cryptocurrencies
Bitcoin and other cryptocurrencies slumped Monday as assets of all shapes and sizes were caught up in a wave of…
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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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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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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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Crypto hackers in US government firing line as new sanctions planned
The Biden administration is preparing an array of actions, including sanctions, to make it harder for hackers to use digital…
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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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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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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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Fed leaders should be banned from stock trading, says Elizabeth Warren
Senator Elizabeth Warren is calling on regional Federal Reserve Banks to set rules that would prevent their leaders from trading…
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Here are the cryptos AMC will accept, in addition to bitcoin
Movie-theater chain AMC will broaden its crypto horizons beyond Bitcoin, moving to accept three other types of digital tokens for…
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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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Cross-party MPs urge government action over fossil fuel lending as UK banks ‘ignore science’ on climate change
The Bank of England should take action to discourage fossil fuel investments by some of the UK’s largest lenders as part…
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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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Rothschild appoints former top UK civil servant Lord Sedwill to board
Rothschild & Co has elevated the UK’s former top civil servant to its board, as the independent investment bank unveiled…
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Drive-through drinks company Dutch Bros.’ shares jump 60% in their trading debut
Shares of Dutch Bros., a Grants Pass, Ore.-based purveyor of coffee and other hot and cold drinks, soared 60% soon…
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Wall Street sees as much as 70% upside for these highly rated energy stocks in rally mode
Some investors might feel guilty about making money on fossil fuels, but the table appears set for more gains in…
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Peel Hunt plans IPO on AIM after bumper year
City broker and small and mid-cap focused investment bank Peel Hunt intends to float on London’s AIM market after a…
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Goldman Sachs names Denis Coleman new CFO as 30-year veteran Scherr retires
Goldman Sachs named the co-head of its global financing group as its new chief financial officer, as Stephen Scherr steps…
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Investment Association adds seven to board, but doesn’t know if it has met ethnic diversity target
The UK’s trade body for asset managers has added a cohort of heavyweight industry executives to its board, but remains…
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