best financial news
- Finance
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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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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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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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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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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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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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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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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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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Treasury lines up tougher checks as buy now pay later crackdown imminent
The Treasury’s long-awaited consultation into the buy now, pay later market is set to arrive as soon as next week,…
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Vanguard’s UK retail platform is proving to be a hit with under 30s as assets swell to £9.5bn
Investment platforms have experienced a surge in trading volumes since the start of the Covid pandemic, fuelled by younger investors seeking…
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Bankers flock to business class again in M&A boom: ‘My message is clear — get back out there’
Mergers and acquisitions deal volumes are on course to smash annual records this year, even as investment bankers have negotiated…
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First bitcoin futures ETF ticks up as opening-day trading continues
The first bitcoin-focused exchange-traded fund rose modestly in its debut on 19 October. The ProShares Bitcoin Strategy ETF was up 2% in…
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How a City fund manager’s idea to hire 100 Black interns spread to Goldman, Google and TikTok
Ami Ophelia-Brown submitted over 300 job applications during her final year at the University of Northampton, from where she graduated…
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The Economic Rebound Is Still Waiting for Workers
“They’re making a lot of profits in part because they’re saving on labor costs, and the question is how long…
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Asset managers in firing line as Sunak unveils new greenwashing rules
Asset managers, investment providers, and pension schemes will all be forced to disclose information about their environmental impact under new…
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Homebuilder sentiment bounces back despite ongoing supply chain problems
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, June…
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City execs fear ‘captain deserting sinking ship’ after FCA chair’s shock resignation
The resignation of Financial Conduct Authority chair Charles Randell came as a shock to regulatory specialists in the City, who voiced…
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China’s Economy Continues to Slow, Rattled by Real Estate and Energy
BEIJING — Steel mills have faced power cuts. Computer chip shortages have slowed car production. Troubled property companies have purchased…
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Biden’s Plans Raise Questions About What U.S. Can or Cannot Afford to Do
WASHINGTON — As lawmakers debate how much to spend on President Biden’s sprawling domestic agenda, they are really arguing about…
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If RBC CEO is right about impending spending spree, interest rates will rise sooner than expected
Breadcrumb Trail Links News FP Finance FP Economy Banking Kevin Carmichael: David McKay’s comments complicate the Bank of Canada’s ability…
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Trading Places: Investec nabs Credit Suisse vet, Kirkland & Ellis hires Freshfields PE partners
In a busy week of earnings and booming revenues from the investment banks, the financial services sector also seen top moves…
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Excitement over an ETF to track bitcoin drives the crypto to $60k
Bitcoin hit $60,000 on 15 October for the first time since April, as traders anticipate US regulators will approve the first…
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Conservative MP dies after stabbing at Essex constituency meeting
An attacker fatally stabbed a British lawmaker during a meeting Friday with constituents outside London. David Amess, a member of…
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Kraken’s Juthica Chou: Why crypto in mainstream will help shift to options and ETFs
Investing in cryptocurrencies isn’t for the faint-hearted, and tackling the market with complex instruments such as derivatives is an even…
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If not now, when? Canadian firms should unleash $150 billion cash pile to spur economic growth
Breadcrumb Trail Links News FP Economy ‘This cash level is something that we haven’t seen in a generation’ Author of…
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Shaunavon, Saskatchewan — The town the internet forgot
Breadcrumb Trail Links Telecom News FP Economy Spotty internet connections and crappy-to-non-existent cell service mean that everything is more complicated,…
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A roadmap to developing inclusive regional economic indicators
In 2020, Brookings Metro ran an Inclusive Economic Indicators Lab to help three regions—Indianapolis, Memphis, and Orlando—develop compelling and influential…
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Crypto is ‘here to stay’, Standard Chartered CEO says after Dimon disses bitcoin
Standard Chartered plans to go full speed ahead on cryptocurrencies in spite of an impending global regulatory crackdown on the…
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Wells Fargo sees 59% profit rise in third quarter
Wells Fargo said on 14 October that its third-quarter profit rose 59%, lifted by a release of funds it had set…
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Cautious optimism on the road to COP26 climate-change summit
At the beginning of the summer, I noted how the climate-change narrative had changed in recent years, thanks to tremendous technological progress…
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Abrdn’s new CEO fights to stem investor flight: ‘The market is yet to be convinced’
Stephen Bird, the former Citigroup executive who replaced Keith Skeoch as CEO of Standard Life Aberdeen in September 2020, has…
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Goldman Sachs COO says ‘decarbonising’ the world will cost $100tn
The transition to a cleaner economy to fight climate change will need $100trn in financing, the bulk of which will…
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The Fed prepared to slow support for the economy and worried about supply chain disruption at its last meeting.
Federal Reserve officials were preparing to begin slowing down monetary policy support as soon as the middle of November, minutes…
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Fed should keep labor markets tight for a more inclusive economy
The United States Federal Reserve has a dual mandate from Congress: maintain price stability and pursue maximum employment. A new…
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Bank of England warns crypto system could threaten financial stability
Crypto technologies have become a financial stability concern, a deputy Bank of England governor said. “Crypto technologies offer a prospect of…
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Weekly mortgage demand stalls, as rates jump to highest level since June
Prospective homebuyers view a kitchen while touring a house for sale in Helotes, Texas. Matthew Busch | Bloomberg | Getty…
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KPMG slammed by watchdog for ‘untruthful defence’ in Silentnight tribunal
KPMG has been criticised by the audit watchdog for putting forward an “untruthful defence” in a misconduct hearing related to…
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Consumer prices rise more than expected as energy costs surge
Consumer prices increased slightly more than expected in September as food and energy price increases offset declines in used cars,…
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Standard Chartered links up with Singapore startup in Asia fintech push
Standard Chartered has tied up with Singapore start-up Atome Financial to expand in Asia’s booming financial technology market. As part…
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Binance pulls the plug on cryptocurrency trading involving China’s yuan
The world’s largest cryptocurrency exchange said it would stop allowing trading involving the Chinese currency on its consumer-to-consumer platform, weeks…
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A record 4.3 million workers quit their jobs in August, led by food and retail industries
Job openings declined sharply in August while hiring also fell and the level of workers quitting their jobs hit the…
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Millennium memo warns staff to log personal crypto trades with compliance
Millennium Management sent a memo to staff telling them to disclose any personal trading in cryptocurrencies to the hedge fund giant’s…
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Nearly 30% of traders are back in the office full-time, says Deutsche Bank
Nearly 30% of sales and trading staff are now working from the office full-time — a 12 percentage point jump…
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