Finance
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Eviction Freeze Set to Lapse as Biden Housing Aid Effort Falters
The lapse of the federal freeze is offset by other pro-tenant initiatives that are still in place. Many states and…
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Home Prices Are Soaring. Is That the Fed’s Problem?
Robert S. Kaplan, the president of the Federal Reserve Bank of Dallas, has been nervously eyeing the housing market as…
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The Shanghai middle class: Embracing “cosmopolitanism with Chinese characteristics”?
There is no doubt that the Chinese middle class is a dominant political and economic force that will have a…
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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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Key inflation indicator up 3.5% year over year in June for fastest gain since 1991
An inflation indicator that the Federal Reserve uses as its key guide rose 3.5% in June, a sharp acceleration that…
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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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Canada’s economy set to grow in second quarter, GDP data show
Breadcrumb Trail Links News Economy June makes up for lockdown declines in April and May Author of the article: Bianca…
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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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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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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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Freshfields profit per partner gains to almost £2m in wake of Magic Circle pandemic boom
Freshfields Bruckhaus Deringer has become the latest major law firm to report a jump in revenue and profit as the City’s legal sector…
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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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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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China Targets Costly Tutoring Classes. Parents Want to Save Them.
Zhang Hongchun worries that his 10-year-old daughter isn’t getting enough sleep. Between school, homework and after-school guitar, clarinet and calligraphy…
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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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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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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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How Biden Got the Infrastructure Deal Trump Couldn’t
As Mr. Biden pushed toward a deal in recent weeks with a group of Republican and Democratic negotiators in the…
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Macklem keeping inflation expectations in check with call not to overreact, economists say
Breadcrumb Trail Links News Economy ‘The Bank of Canada was there to prevent deflation when the economy plunged. We remain…
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‘40 acres and a mall’: How community ownership models can preserve economic power in Black neighborhoods
In the famous post-Civil War initiative known as “40 acres and a mule,” Union General William T. Sherman promised newly…
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Mortgage rates just dropped to a six-month low, and refinances shoot higher
A real estate agent stands in the doorway as Giovani and Nicole Quiroz of Brooklyn, New York visit an open…
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Lessons from the Surfside condo collapse on strengthening community ownership
The June collapse of the Champlain Towers South multifamily condominium tower in Surfside, Fla. has called into question whether bad…
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U.S. GDP rose 6.5% last quarter, well below expectations
The U.S. economy rose at a disappointing rate in the second quarter, the Commerce Department reported Thursday in a sign…
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Pending home sales drop in June — more evidence of a housing turnaround
A real estate for sale sign shows the home as being “Under Contract” in Washington, DC, November 19, 2020. Saul…
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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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Supporting distressed communities by strengthening regional public universities: A federal policy proposal
Contents Forecasters predict the economy will grow significantly in the latter half of 2021 as the U.S. continues its recovery…
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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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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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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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Tiff Macklem: The Bank of Canada remains firmly committed to keeping inflation under control
Breadcrumb Trail Links News Economy Rising prices due to pandemic gyrations unlikely to persist Author of the article: Tiff Macklem,…
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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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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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Schroders appoints Dame Elizabeth Corley as new chair
Schroders has appointed Dame Elizabeth Corley to succeed Michael Dobson as chair of the £700bn asset manager. The firm announced that…
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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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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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Video: Federal Reserve Holds Rates Near Zero
new video loaded: Federal Reserve Holds Rates Near Zero transcript Back transcript Federal Reserve Holds Rates Near Zero The chair,…
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The pandemic hurt low-wage workers the most—and so far, the recovery has helped them the least
Contents The recession associated with the COVID-19 pandemic announced itself in spring 2020 with head-spinning job losses: 22 million lost…
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Beyond traditional measures: Examining the holistic impacts of public space investments in three cities
Editor’s note: This brief is part of a three-part series which examines the economic, social, and civic impacts of public…
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The inclusive economic impacts of downtown public space investments
Editor’s note: This brief is part of a three-part series which examines the economic, social, and civic impacts of public…
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Exploring the often fraught relationship between public spaces and social divides
Editor’s note: This brief is part of a three-part series which examines the economic, social, and civic impacts of public…
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Canadian inflation slows but still tops Bank of Canada’s target
Breadcrumb Trail Links News Economy And the drop in June may only be momentary relief Author of the article: Bianca…
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How place governance impacts the civic potential of public places
Editor’s note: This brief is part of a three-part series which examines the economic, social, and civic impacts of public…
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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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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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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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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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