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Binance rolls back European derivatives business
Binance, the world’s largest cryptocurrency exchange, will cease offering futures and derivatives products to investors in some European countries amid…
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Damning Archegos report slams ‘lackadaisical’ attitude to risk at Credit Suisse
Credit Suisse’s $5.5bn loss from the collapse of family office Archegos Capital was down to a “fundamental failure of management”…
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Lazard CEO Jacobs set for 12 star dealmaker hires amid record second quarter
Lazard is continuing to hire senior dealmakers amid an M&A boom that has pushed the independent investment bank to a record…
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Credit Suisse M&A fees slide by 34% amid dealmaker exodus
Credit Suisse’s M&A revenues tumbled by 34% in the second quarter as the Swiss bank battled to stem an exodus…
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Credit Suisse made deep cuts to risk team ahead of Archegos collapse
Credit Suisse had just a single senior risk manager in its US prime services division last year as the bank…
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Monzo faces FCA scrutiny over financial crime controls
Monzo has warned for the second consecutive year that there is “material uncertainty” over whether it can turn a profit…
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Trading Places: Credit Suisse nabs Goldman risk boss; Barclays’ overhaul rages on
As Credit Suisse continues to reel from scandal, the bank tapped a Goldman Sachs executive as its next chief risk…
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Bank of America hires Goldman’s Malhotra in leverage finance leadership role
Bank of America re-hired a senior Goldman Sachs dealmaker to lead its leveraged finance origination business in Europe. Uday Malhotra…
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German Economy Grew at Slower-Than-Expected Pace in 2Q
By Maria Martinez Germany’s economy grew in the second quarter, according to a first estimate published Friday by the Federal…
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BNP Paribas equities trading revenues double as push continues
BNP Paribas’ ongoing push into equities trading led to a record quarter for the unit, but its investment bank revenues still…
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IAG 2Q Passenger Capacity 21.9% of 2019
By Anthony O. Goriainoff International Consolidated Airlines Group SA said Friday that its net loss narrowed for the first half…
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Investors call for vote on companies’ climate change plans
A group of more than 50 asset managers is calling for companies to disclose details of their progress on tackling…
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Robinhood suffers stock price dip after hyped IPO
Robinhood, the trading app synonymous with hot stocks, got a cold reception from investors in its own stock-market debut. The investing…
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Barclays unveils new M&A leaders in Europe as shake-up continues
Barclays named new leaders of its European mergers and acquisitions team in Europe, the latest shake-up at the UK lender’s…
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Jupiter’s Bonham Carter on why he’s sceptical about Spacs
City fund management veteran Edward Bonham Carter has called into question the investor benefits of so-called special purpose acquisition companies,…
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View: Why quashing Tom Hayes’ Libor conviction could spell a new era for the City
Tom Hayes stands within a whisker of rewriting his role in one of the biggest scandals to grip financial markets…
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Q&A: Inside eToro’s Spac plans
The Spac boom might be fading away, but trading platform eToro has high hopes that going public through a blank-cheque…
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Robinhood prices IPO at bottom of range on tepid demand
Robinhood priced its initial public offering at $38 a share, at the low end of expectations, after the popular trading…
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Barclays names new capital markets leaders in latest shake-up
Barclays promoted a swathe of senior capital markets bankers as the UK lender continues to reshape the top of its…
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Barclays dealmakers post record quarter despite sharp fall in fixed income trading
Barclays investment bankers posted a record quarter despite a 40% slump in fixed income trading revenues as fees surged during…
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Nokia Raises FY Sales Guidance
By Dominic Chopping Nokia Corp. on Thursday posted a forecast-beating rise in second-quarter net profit and raised guidance, driven by…
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Morgan Stanley hikes junior banker salaries to $100,000
Morgan Stanley has raised base salaries for entry-level bankers to $100,000, leaving Goldman Sachs as the last remaining Wall Street bank…
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Ex-Lanistar staff allege bullying, sexism, and a ‘loser’s table’ for missing targets
Staff at celebrity-promoted fintech startup Lanistar were routinely sexually harassed and bullied over the past year, according to the accounts…
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Hire ‘poor, hungry kids’ instead of ‘entitled’ grads to solve banker talent crisis, Xavier Rolet says
Investment banks should hire “poor, hungry” graduates if they want to stave off a crisis among junior bankers, which are rebelling…
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Nestle 1H Sales CHF41.76B
By Giulia Petroni Nestle SA said Thursday that net profit rose in the first half and raised its full-year organic…
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Wall Street banks crush European rivals in deal boom: ‘I still bear the scars’
Wall Street banks are turning the screw on their European rivals as deal flow has hit new highs. US investment…
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Can Robinhood thread the needle for a winning IPO?
Initial public offerings can be a little bit like politics: a decent outcome may be when everyone is only a…
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Evercore hikes pay by 33% amid record M&A boom
Boutique investment bank Evercore has posted record revenues for the second quarter as the industry’s $60bn fee haul during the…
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FCA looks to force companies to explain board-level diversity
The City watchdog has launched a consultation on changes to its listing rules which would require companies to publish “comply…
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Abrdn boss on why flexible working is here to stay: ‘We’ve proved remote work on a large scale can be effective’
The City is slowly stirring back to life, with the lifting of Covid restrictions in England on 19 July prompting…
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Deutsche Bank doubles M&A fees as it sidesteps fixed income trading slump
Deutsche Bank dodged the second quarter fixed income trading slump, with revenues shrinking by 11% as fees from mergers and…
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Adecco to Buy France’s AKKA Technologies in EUR2 Bln Deal
By Olivia Bugault Adecco Group AG said Wednesday that it will acquire engineering R&D services provider AKKA Technologies SE at…
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Why Amazon’s crypto bet isn’t about bitcoin — it’s about banks
Though blockchain has long been on its agenda, Amazon’s entry into digital currencies as the world’s largest online retailer has…
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Credit Suisse set to issue report on Archegos errors
Credit Suisse is likely to publish an investigation as soon as Thursday into the breakdown that led to massive losses from…
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Siemens CEO Roland Busch on combining the real and digital worlds
It has become a cliché to observe that the pandemic has accelerated existing trends across a wide range of industries.…
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The collapse of Archegos shows how important it is to understand data
Extreme liquidity, combined with high levels of market volatility and high-tech valuations, can make a lethal cocktail. The collapse of…
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FCA puts size limit on UK Spacs as investors are in line for greater protections
Investors must be allowed to exit a special purpose acquisition company early if it wants to benefit from a smoother regulatory…
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Revealed: The best-performing ESG funds you’ve never heard of
Asset managers are scrambling to launch funds to tap into growing investor demand for sustainable investments. At the same time,…
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Standard Chartered scraps academic bar in bid to attract diverse apprentice pool
Standard Chartered is offering a route into a front line investment banking job for those from lower socioeconomic backgrounds by scrapping…
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Credit Suisse hires Goldman Sachs executive Wildermuth as new chief risk officer
Credit Suisse has tapped a Goldman Sachs executive as its next chief risk officer as the Swiss bank continues to…
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Reckitt Benckiser Swung to 1H Loss on Higher Costs — Update
By Matteo Castia Reckitt Benckiser Group PLC reported on Tuesday a swing to pretax loss for the first half of…
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Bankers now face compliance crackdown over Covid rule breaches
Compliance rules have always been a headache for City workers. During the pandemic, they are becoming a nightmare. Texts about…
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Bitcoin tumbles from $40,000 high after Amazon denies crypto plans
Cryptocurrencies lost ground after spike in momentum as e-commerce giant Amazon denied speculation that it planned to develop its own token, causing…
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Moonpig Group FY 2021 Pretax Profit Rises on Higher Revenue
By Ian Walker Moonpig Group PLC on Tuesday reported a 3.5% rise in fiscal 2021 pretax profit on more-than-doubled revenue…
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Redundancies spike ninefold for senior managers in financial services on back of Brexit
A nine-fold increase in senior manager redundancies at financial services firms is down to Brexit, as UK companies restructured in the…
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Tether executives facing federal criminal probe; reports
Executives at Tether International, the company that issues the digital currency tether , are facing a federal criminal probe into…
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JPMorgan names UBS’s Novak as head of shareholder engagement in Europe
JPMorgan has hired a senior dealmaker to lead its activism defence team in Europe, poaching from UBS for the role.…
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NatWest chair: Is central bank power getting out of control?
In the Forbes list of the World’s Most Powerful People for 2012, Ben Bernanke, then the chair of the US Federal…
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Starling Bank makes first acquisition with £50m deal for mortgage lender
Starling Bank agreed to acquire a buy-to-let specialist mortgage lender in a £50m deal, marking the fintech firm’s first acquisition…
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$30bn merger between Aon and Willis Towers Watson axed
Aon and Willis Towers Watson said they have agreed to terminate their roughly $30bn deal and end litigation with the Justice Department, which alleged…
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