Finance
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Weekly mortgage demand drops over 6% after interest rates move even higher
Climbing mortgage interest rates caused another drop in mortgage demand for both refinances and home purchases. Total application volume fell…
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Jobless claims fall again as enhanced pandemic benefits fade away
Weekly jobless claims hit another pandemic-era low last week as the elimination of enhanced benefits sent fewer people to the…
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Jeffrey Gundlach says inflation will stay above 4% through 2022
Billionaire bond investor Jeffrey Gundlach said Friday that inflation in consumer prices likely will remain elevated through 2021 and stay…
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Twitter and Square CEO Jack Dorsey says ‘hyperinflation’ will happen soon in the U.S. and the world
Jack Dorsey, CEO of Twitter and co-founder & CEO of Square, speaks during the crypto-currency conference Bitcoin 2021 Convention at…
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FCA moves to ease bankers’ home visit fears after lawyers slam ‘drastic’ threat
The Financial Conduct Authority has confirmed that inspections of City workers’ home offices will be a rare occurrence, after Financial…
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Fidelity International and CEO Anne Richards win big in FN’s Asset Management Awards
Boutique firm Liontrust picked up the prestigious Asset Manager of the Year gong in the Financial News Asset Management Awards 2021, as…
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Amundi chair Yves Perrier named Editor’s Choice in FN’s Asset Management Awards
Financial News announced the winners of its Asset Management Awards 2021 on 21 October. This year’s Editor’s Choice award went…
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How a New Orleans community land trust is providing permanently affordable housing and supporting Black entrepreneurs
The “Rebirth of 1800 St. Bernard” took place last year on a chilly December day by New Orleans standards. Attendees…
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WeWork shares up in NYSE debut
WeWork shares rose on their first day of trading on 21 October, capping a journey to a listing that included…
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Five things in crypto this week: bitcoin ETF, inflation and FTX’s $25bn price tag
In the week that saw bitcoin reach a new all-time high, investors and financial professionals alike were kept busy in…
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Here’s how regulators could tackle a Revolut crypto coin
Banks are contemplating how they can get a slice of the boom in demand for cryptoassets and blockchain technology, and…
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Wall Street set to shower bankers with highest pay and bonuses since 2008 crisis
Top Wall Street banks are on course to pay their dealmakers more than at any point in at least a…
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Evergrande Group averts default with overdue interest payment to bondholders
China Evergrande Group made an overdue interest payment to international bondholders, the state-owned Securities Times reported on 22 October, an…
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Trading Places: BNP Paribas promotes PE banker, Nomura’s hiring spree
Private equity and junior bankers were in the spotlight this week, as investment banks reported earnings that showed they are…
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Treasury pushes for risk disclosure, tighter credit checks in buy now, pay later market
The Treasury has laid a path for tighter regulation of the buy now pay later sector, as it recommends that lenders should…
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Judge orders Lanistar to cough up unpaid salaries to former staff
An employment tribunal has awarded thousands of pounds in payments to former staff at Lanistar who were not paid salaries…
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To Get Ahead at Work, Lawyers Find It Helps to Actually Be at Work
Ms. Singh, too, appeared to be under more stress. “I came in every day this week,” she said, estimating that…
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Bitcoin miners are trying to go green but the challenge is ditching fossil fuels
Bitcoin mining has earned a bad reputation for guzzling cheap electricity in the pursuit of profit. Now bitcoin miners are…
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Deutsche Bank whistleblower awarded $200m prize for libor tip-off
A whistleblower whose information helped US and UK regulators investigate manipulation of global interest-rate benchmarks by Deutsche Bank was awarded…
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Stocks Hit a Record as Investors See Progress Toward a Spending Deal
Wall Street likes what it’s hearing from Washington lately. The S&P 500 inched to a new high on Thursday, continuing…
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Embracing placemaking as a core state strategy
While local governments, developers, and communities usually lead placemaking efforts, the state of Michigan stands out for its embrace of…
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Blackstone profits nearly double in third quarter
Blackstone’s net income nearly doubled in the third quarter, driven by strong investment performance for its largest strategies and continued expansion…
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Cryptocurrency exchange FTX hits $25bn valuation in funding round
Cryptocurrency exchange FTX reached a valuation of $25bn in a new funding round that includes heavyweights from traditional finance, such…
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Mobius warns ‘crypto could really blow up’: central banks should pay attention
Mark Mobius, the veteran emerging markets investor, warned of a potential cryptocurrency collapse that would be felt across global stock markets. “Cryptocurrency…
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Delay over NatWest money laundering probe angers MPs
Lawmakers have expressed their frustration that a recent prosecution of NatWest over money laundering failures took five years to reach…
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Finance bosses warn of more job moves as Brexit exodus ‘picks back up’
Around half of senior finance executives polled by Big Four accountancy EY expected Brexit to drive more jobs out of…
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FCA urges new rules to compel Google, Facebook to urgently tackle online fraud
The Financial Conduct Authority has called on the government to force digital platforms like Google and Facebook to prioritise investment…
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WeWork set to trade publicly via Spac, two years after its IPO imploded
The shared-office company WeWork is set to trade publicly Thursday, 21 October, capping a journey to a listing that included…
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Trump plans Spac for social media firm
Former President Donald Trump unveiled a new digital-media venture 20 October and said it would go public by merging with a…
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SEC slammed over approach to crypto
WASHINGTON — A Republican member of the Securities and Exchange Commission criticised the agency’s approach to regulating the cryptocurrency industry,…
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Why it’s cannabis stocks’ time to shine
Alasdair Haynes is chief executive of Aquis Exchange The City is seeing a flurry of activity around the research, development,…
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Green summit attended by Fink and Dimon is chance for ‘deft thinking’ on climate goals
Some of the world’s most influential investors and business leaders are gathering in London this week for a government-led summit…
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Barclays’ dealmakers post record quarter amid M&A boom
Barclays dealmakers hauled in record fees during the third quarter as the UK lender followed Wall Street rivals with record…
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Zopa gains unicorn status as SoftBank leads $300m funding round
British digital bank Zopa is now a billion-dollar company, gaining the coveted unicorn title after raising $300m from major Japanese technology…
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Goldman Sachs more than doubles first-year banker bonuses to £64,500 amid junior burnout crisis
Junior banker bonuses in London have surged by 60% this year as firms have moved to stem an exodus of…
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Citi CEO Fraser sets out ‘time to breathe’ amid relentless banker Zoom calls
Citigroup chief executive Jane Fraser introduced a “take time to breathe” hour for its employees and cut back the length…
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Peer rivalry drives youngsters to crypto and meme-stock craze
Youngsters are flocking to high-risk markets like cryptocurrencies because they see investing as a competition with their peers, new research suggests. Three…
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Fund bosses see ‘Darwinian forces’ spurring M&A deals
The pace of merger and acquisition activity won’t let up, say some of Europe’s top fund bosses. They predict asset managers…
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UK has no plans for another lockdown as hopes pinned on new drug deal
The UK agreed to purchase two new treatments to combat Covid-19 as it continues to resist pressure to avoid a further wave of…
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Bitcoin hit a record high and could go further still, analyst says
Bitcoin has risen above $66,000, recording a record high on 20 October, after ProShares Bitcoin Strategy ETF, the first bitcoin-linked…
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Goldman Sachs teams up with American Express to take on transaction banking rivals
Goldman Sachs has teamed up with American Express for a technology upgrade to its nascent transaction banking business, as the…
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BlackStone acquires majority stake in shapewear firm Spanx
Blackstone is buying a majority stake in Spanx, becoming the first outsider to put money into a company that revolutionised…
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Countdown to COP26: A message to business
Each of us is responsible for our planet and the time to act on that responsibility is now. From China…
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If banks can’t stop money laundering, it is time for regulators to do more
Some financial crimes are so sophisticated it is easy to see how they went undetected. The NatWest money laundering debacle…
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Paul Tudor Jones says inflation could be worse than feared, biggest threat to markets and society
Paul Tudor Jones Michael Nagle | Bloomberg | Getty Images Billionaire hedge fund manager Paul Tudor Jones believes that inflation is here…
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Ex-FCA staff fear talent drain amid bonus cuts
Former staffers at the Financial Conduct Authority said more people could leave the regulator as it undergoes a major project to transform its culture.…
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Bundesbank president Jens Weidmann to leave before term in office ends
FRANKFURT—German Bundesbank President Jens Weidmann, a prominent critic of the European Central Bank’s easy-money policies as a member of the…
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Meet the ‘diva of divorce’ Ayesha Vardag, who charges her super-rich clients £1,200 an hour
“I’ve for a very long time been the most expensive divorce lawyer in London,” Ayesha Vardag says from her plush wood-panelled office…
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How law became a gold mine for the rich and powerful
Katharina Pistor, professor of comparative law at Columbia Law School, is the author of The Code of Capital: How the…
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Kirkland raiding Freshfields’ stars ushers in new era for private equity team
Kirkland & Ellis’s hire of two rising stars from Freshfields last week marks a changing of the guard in the…
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