applenews
- Finance
Schroders suffers in ‘challenging’ environment as investors flee mutual funds
Tough market conditions continue to batter leading asset managers, as Schroders becomes the latest major fund house to report sliding…
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Carlyle profits dip as market falls weigh on private fund managers
Carlyle Group reported lower second-quarter earnings on 28 July as the value of its investments appreciated less than a year…
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Lazard eyes senior dealmaker hires as larger rivals cut back amid downturn
Independent investment bank Lazard is set to hire more senior bankers despite a downward shift in the dealmaking boom that…
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Venture capital funding to dry up amid ‘red flags’ in first half of 2022
British companies looking to raise cash in the second half of 2022 will be met with an increasingly cautious venture…
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The JPMorgan banker going for gold at the Commonwealth Games: ‘I’m no stranger to high pressure’
Micky Yule was Team Scotland’s flag-bearer at the opening ceremony for this year’s Commonwealth Games, which kicked off on 28…
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Standard Chartered announces $500m buyback as profits rise
Standard Chartered’s second-quarter profit rose 6.5% compared with the same period a year earlier, thanks to stronger interest income, as…
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Trading Places: All change at Credit Suisse, Barclays poaches from JPMorgan
This week’s job moves were dominated by Europe’s investment banks as second-quarter results season continued. There was no bigger change…
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Private equity bosses’ summer reading lists
For the past two years, buyout bosses have barely had a moment to relax amid the blockbuster dealmaking frenzy. But…
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HSBC investment bank bolstered by trading surge as dealmaking slips
Profit within HSBC’s global banking and markets unit swelled by 37% in the second quarter as trading revenue surged, but…
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Barclays hires Adrian Beidas from UBS to co-head UK advisory unit
Barclays has hired a senior UBS dealmaker to co-head its advisory business in the UK. Adrian Beidas has joined Barclays…
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Bank of America juniors say they’re getting up to 100% of salary in bonuses
Bank of America has maintained generous bonus payments for junior bankers as some of its rivals have cut back after…
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Centerview bankers split to form tech deals boutique
A pair of investment bankers is leaving Centerview Partners to start a firm focused on advising technology companies on mergers…
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Crypto platform Forsage charged with running Ponzi scheme by SEC
The Securities and Exchange Commission said on 1 August it charged 11 individuals with creating and promoting a fraudulent platform that operated as a global crypto pyramid and…
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Fidelity’s crypto unit revenue surges 1,800% as hiring boom adds to costs
Revenue spiked at Fidelity’s fledgling digital assets business in the UK last year, as more institutional investors flocked towards trading and holding…
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Abrdn speeds up pay rises to help staff earning less than £75k amid cost-of-living crisis
Abrdn, the Edinburgh-headquartered asset manager, has brought forward a pay increase for around half of its 5,000 strong global workforce…
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Revolut unleashes fresh crypto push despite sector turmoil
Revolut has announced a fresh push into crypto, with 22 new tokens available to buy and sell on its app,…
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How Revolut, Fidelity and Binance are looking to capitalise on the crypto crash
Crypto may be in the doldrums, but established brands across banking, fund management and digital assets see the crash as…
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CME launches euro-denominated crypto futures
Derivatives exchange CME is expanding its crypto future offerings through new euro-denominated crypto derivatives. The new products, which are expected to…
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Bain mulls legal challenge to UK ban on government contracts
Management consultancy Bain is considering a legal challenge to the UK government’s three-year ban on the firm preventing it from…
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FCA appoints new international division director from Home Office
The Financial Conduct Authority has turned to the Home Office for a new director in its international division. Ruairi O’Connell currently…
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PwC fined £2.5m over BT fraud audit failures
PwC has been fined £2.5m by the audit watchdog for its failures following the discovery of a massive fraud in…
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New climate bill readies $370bn road to renewable energy
The climate and tax package passed by the Senate on 7 August will unlock some $370bn in funding for clean energy and…
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LSE chief Julia Hoggett: ‘Rolling me out as an example of diversity is evidence we haven’t fixed it yet’
Julia Hoggett has not had the easiest of starts at the 220-year-old London Stock Exchange. She took over the role…
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Carlyle board met CEO’s early contract proposal with silence
As Kewsong Lee’s five-year contract was drawing to a close, advisers to Carlyle Group’s chief executive worked with representatives of the buyout…
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Abrdn swings to £320m loss after brutal first half
Abrdn, the FTSE 100 listed asset manager, posted a £320m loss for the first six months of the year, following…
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Thoma Bravo plans London office launch
Private equity giant Thoma Bravo is set to take its first London office as it eyes more deals in Europe.…
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Top BitMEX employee guilty of violating US anti-money-laundering rules
A top employee at BitMEX has pleaded guilty in New York to failing to put in place an anti-money-laundering programme…
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Boris Johnson’s south London home goes up for sale for £1.6m
Outgoing UK Prime Minister Boris Johnson and his wife, Carrie, listed their south London residence on 5 August for £1.6m.…
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Coinbase loses $1.1bn in Q2 as crypto meltdown takes toll
Coinbase reported a surprisingly large second consecutive quarter of losses, driven by the crypto market’s spring meltdown. Coinbase lost $1.1bn, or $4.98…
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Former Deutsche Bank chief operating officer, Kim Hammonds, dies
Kim Hammonds, who spent five years at Deutsche Bank including a stint as its chief operating officer, has died. Hammonds,…
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Jupiter’s CEO choice draws criticism from former board member
Jupiter’s decision to appoint Matthew Beesley as its next chief executive is unlikely to “fix” the problem of its plummeting…
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