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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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When Amazon Raises Wages, Local Companies Follow Suit
Many small-business owners do not welcome the pressure. Tad Mollnhauer, who runs two printing and shipping retail stores near Orlando,…
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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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Credit Suisse spotted early signs of trouble brewing at Greensill Capital
Credit Suisse Group knew since 2019 that supply-chain finance funds it ran with Greensill Capital were too reliant on a…
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Budget tax hike threatens plan for City post -Brexit fightback
Imagine you are the European boss of a US financial firm based in Canary Wharf. Post Brexit you are wrestling…
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FCA bans ex-Stifel trader for market abuse
The Financial Conduct Authority has banned a former Stifel Nicolaus Europe market-making trader from regulated activity and fined him £52,500…
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Here’s what City firms make of the Budget
UK Chancellor Rishi Sunak has delivered a budget that he said is designed to “protect jobs and the livelihoods of…
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Wealth managers warn UK’s richest: A wealth tax is coming
Britain’s richest bankers and hedge fund managers should prepare now for the introduction of tax hits on their wealth to plug…
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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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Budget 2021: UK economy will grow 4%
The UK’s economy is expected to grow 4% in 2021 and regain its pre-pandemic level in the second quarter of…
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Private payrolls growth well short of expectations for February, ADP says
Private payroll growth disappointed in February despite otherwise encouraging signs of economic growth, according to a report Wednesday from ADP.…
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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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Deloitte agrees to pay Malaysia $80m to settle 1MDB claims
Accountancy firm Deloitte PLT has agreed to pay the Malaysian government $80m to settle claims relating to its auditing of…
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Here’s what UK fintech says the Kalifa Review got wrong
On 26 February, the long-awaited Kalifa Review of the UK fintech sector landed to great fanfare. Authored by former Worldpay…
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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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What the recovery from the Great Recession reveals about post-pandemic work and cities
Since the onset of COVID-19 pandemic, there has been ongoing debate about the future of cities in a post-pandemic world,…
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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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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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Amazon Workers’ Union Drive Reaches Far Beyond Alabama
Players from the National Football League were among the first to voice their support. Then came Stacey Abrams, the Democratic…
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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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UK IPOs off to best start for 15 years ahead of listings review shake-up
The London Stock Exchange has had its strongest start to a year since 2016 ahead of the publication of a…
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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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Softbank agrees $1.6bn settlement with ex-WeWork boss Adam Neumann, others
Softbank has announced it has reached a $1.6bn settlement to a lawsuit brought against it by ex-WeWork chief executive Adam…
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Over 60s to start receiving jabs as Brazil variant hunt continues
Over 60s are now being invited to receive the coronavirus vaccine, health secretary Matt Hancock has said, as a hunt…
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Goldman Sachs asset management co-head Lane to step down
Eric Lane, the co-head of Goldman Sachs global asset management business, is stepping down six months after being appointed to…
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How Can Biden Bring Back Manufacturing Jobs? Weaken the Dollar
Dr. Gagnon estimates that as a result of these forces, the dollar was 10 to 20 percent above its expected…
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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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HSBC cuts staff and shakes up executives in London equities unit
HSBC is overhauling its equities trading unit in London, cutting jobs and shifting senior UK-based staff to Paris or Hong…
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Our fragile mental health is the hidden threat to the economic recovery
Breadcrumb Trail Links News Economy Kevin Carmichael: If country’s workforce is coping with low-grade PTSD, there aren’t any simple levers…
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Hedge funds slash bearish bets in GameStop aftermath: ‘Wow, this could be me’
Investors have pared back their bearish bets a full month after the GameStop frenzy took off, showing the lasting effects…
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Kalifa Review: All you need to know about the UK’s 106-page fintech report
Greater government oversight, hand-holding by regulators and a £1bn growth capital fund must be considered at pace if the UK…
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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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Why the Bank of England needs a monetary framework review to keep policy at the frontier
The Bank of England has built an enviable reputation as a central bank at the forefront of modern policymaking. This…
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‘We would have to resist very firmly’: BoE’s Bailey braces for €84tn Brexit battle for London’s derivatives crown
The Bank of England governor Andrew Bailey issued a warning about how the Brexit battle for London’s financial crown could…
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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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The business case for expanding apprenticeships: Federal and employer perspectives
Apprenticeships are an overlooked solution in the United States for increasing access to quality jobs and expanding the pool of qualified talent. As an…
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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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Carlyle’s Rubenstein says biggest economic risk is high unemployment, not stock market speculation
David M. Rubenstein, Co-Founder & Co-Executive Chairman, The Carlyle Group. David A. Grogan | CNBC Carlyle Group co-founder David Rubenstein told CNBC…
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Jobless claims show sharp drop last week though labor market remains challenged
Jobless claims fell sharply last week despite brutal winter storms that swept across Texas and other parts of the South,…
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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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JPMorgan and Sutton Trust launch $4.8m bursary fund for low-income students
US investment bank JPMorgan Chase and the Sutton Trust have launched a £4.8m bursary fund for university students to improve…
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Amid Shortfalls, Biden Signs Executive Order to Bolster Critical Supply Chains
WASHINGTON — Automakers have been forced to halt production because of a lack of computer chips. Health care workers battling…
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HSBC London bankers brace for job cuts amid Asia shift: ‘There is a lot of middle management in the UK’
Mid-ranking bankers at HSBC in London are braced for more cuts as the bank looks to shift more leadership and…
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HSBC plans $6bn in Asia investments as profits slump by 34%
HSBC is sticking to cost-cutting measures that will see it strip out 35,000 jobs and will invest up to $6bn…
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Lloyds resumes dividends, posts lower profit
Lloyds Banking Group said it would resume dividend payments for shareholders as it posted its annual results with £792m in pretax…
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HSBC’s top investment banker bonuses fall by 11% as job cuts take hold
HSBC cut bonuses to its top investment bankers by 11% last year, but nearly doubled redundancy payouts for executives in the…
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Inflation fears take back seat as Bank of Canada puts focus on jobs recovery
Breadcrumb Trail Links Economy ‘We can expect a long adjustment process and a protracted recovery’ Author of the article: Kevin…
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