best financial news
- Finance
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…
Read More » - Finance
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”…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Finance
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,…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Finance
Will the Delta Variant Wreck the Recovery?
The good economic news, when it comes to the ascendant Delta variant of the coronavirus, is that it puts the…
Read More » - Finance
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…
Read More » - Finance
Video: I.M.F. Sticks With 6 Percent Global Growth Forecast
new video loaded: I.M.F. Sticks With 6 Percent Global Growth Forecast transcript Back transcript I.M.F. Sticks With 6 Percent Global…
Read More » - Finance
The chairman of a House coronavirus subcommittee vows to investigate eviction practices by corporate landlords.
Just days before the federal moratorium on evictions is set to expire, lawmakers scrutinized the actions of corporate landlords that…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Finance
The Travel Industry’s Reckoning With Race and Inclusion
“These road trips and initiatives that speak to people of color in general are important because we’ve been left out…
Read More » - Finance
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.…
Read More » - Finance
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…
Read More » - Finance
The restructuring hiring rush is on, despite a flat market
An injection of private equity cash into the restructuring market via new spin-offs from Deloitte and KPMG has stoked frantic hiring…
Read More » - Finance
Central bankers need to be put in their place as their sphere of influence grows
In the Forbes list of the World’s Most Powerful People for 2012, Ben Bernanke, then the chair of the US Federal…
Read More » - Finance
Credit Suisse settles spying case with former executive Iqbal Khan
Credit Suisse has reached a settlement with former international wealth management head Iqbal Khan and private investigators over a spying…
Read More » - Finance
Sales of existing homes rise slightly as more listings finally hit the market
After four straight months of declines, sales of previously owned homes rose 1.4% in June month to month to a…
Read More » - Finance
Dimon life: Will JPMorgan boss’s bonus rub shareholders up the wrong way?
Aw, you shouldn’t have. JPMorgan Chase’s board surprised investors by giving chief executive officer Jamie Dimon 1.5 million stock options on top of…
Read More » - Finance
FCA staff receiving stress-related counselling triples in ‘challenging’ pandemic year
The numbers of Financial Conduct Authority staff receiving counselling for “work or external stress” tripled during the first year of a…
Read More » - Finance
Can Spacs conquer the world of wealth management?
While the boom in special purpose acquisition companies may well be tailing off slightly, market watchers are still waiting for…
Read More » - Finance
Stanhope Capital taps Goldman’s Shelley for CFO role
Stanhope Capital Group, the London-based wealth manager and advisory firm, has named Goldman Sachs’ Chris Shelley as its chief financial…
Read More » - Finance
Bitcoin looks fraught as an inflation hedge amid selloff
Bitcoin’s steep selloff is undercutting the argument made by the digital currency’s proponents that it’s an inflation hedge. The original…
Read More » - Finance
Greensill had ‘extraordinarily privileged’ relationship with government, review finds
A review into Greensill Capital’s lobbying of politicians has found that former Morgan Stanley banker Lex Greensill “had a privileged –…
Read More » - Finance
80-hour weeks are a must to rise in banking, JPMorgan exec says
Wall Street’s reputation for burning out junior staff with 80-hour-plus weeks is worth it so that bankers can master the profession sooner…
Read More » - Finance
Barclays hires Hengster to lead German unit as shake-up continues
Barclays has hired a dealmaker as chief executive for its German operation as the UK lender continues to shake up…
Read More » - Finance
Will the City return to normal? Natwest’s chairman doesn’t think so
The days of thousands of staffers piling into City offices are well behind us as a result of the pandemic,…
Read More » - Finance
Credit Suisse offers pay hikes to keep senior bankers as more depart in wake of Archegos
Credit Suisse is offering pay rises of up to 30% to retain senior dealmakers who have been offered new jobs…
Read More » - Finance
Europe investors yank €14bn from Russell, Aviva and M&G funds
Investors pulled billions from funds managed by Russell Investments, Aviva Investors and M&G during the first half of the year,…
Read More » - Finance
BNP Paribas hires Deutsche Bank’s Wilson to lead prime services
BNP Paribas has hired a senior executive from Deutsche Bank to lead its prime services unit, as the French bank…
Read More » - Finance
Ashurst partner profit smashes £1m for first time since financial crisis
City law firm Ashurst has unveiled average partner profits of more than £1m for the first time since 2008 on…
Read More » - Finance
Nomura hikes junior pay to $100,000 as talent war heats up
Nomura bolstered entry-level investment banker salaries to $100,000, mirroring moves by Wall Street banks in recent weeks as the battle…
Read More » - Finance
Is there a recipe for a ‘perfect business’? Stock analysts are sceptical
The idea of the “perfect business” — I was sceptical but listened to the elaboration. A perfect business requires no…
Read More » - Finance
Clifford Chance partner profit hits record £1.8m
Clifford Chance partners are set for their highest-ever pay day after the firm delivered a record final quarter to make…
Read More » - Finance
Wholesale prices rose 7.3% in June from a year ago for a record surge
Wholesale prices for June rose more than expected in another sign that inflation is moving at a faster pace than…
Read More » - Finance
Yellen sees ‘several more months of rapid inflation’ before easing, worries about housing impact
Treasury Secretary Janet Yellen cautioned Thursday that prices could continue to rise for several more months, though she expects the…
Read More » - Finance
It’s official: The Covid recession lasted just two months, the shortest in U.S. history
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S.…
Read More » - Finance
Boutique Stifel follows Wall Street rivals with $100,000 salary for juniors
Boutique investment bank Stifel has joined larger rivals by increasing pay for entry-level jobs to $100,000 as the sector faces a…
Read More » - Finance
Credit Suisse’s Brechner jumps to Citi as dealmaker exodus continues
Citigroup has hired a senior dealmaker from Credit Suisse to bolster its M&A team in Europe, the latest departure from…
Read More » - Finance
Robinhood aims for $35bn valuation in IPO
Robinhood Markets, the zero-commission investment app, has set terms for its much anticipated initial public offering. Robinhood said on 19 July…
Read More » - Finance
PwC partners expect 19% profit share increase amid booming advisory market
Partners at PwC are set to take home a record profit share following a strong pandemic performance by the Big…
Read More » - Finance
As Lebanon Collapses, the Man With an Iron Grip on Its Finances Faces Questions
The coronavirus pandemic and a huge explosion in the port of Beirut last August further devastated the economy. Estimates put…
Read More »
