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- Finance
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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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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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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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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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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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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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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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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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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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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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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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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The UK government roped in bigwigs from HSBC, Citi and Morgan Stanley to help solve Brexit. Will it work?
Back in April, the government announced it was forming an Investment Council to help boost investment into the UK in…
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Lawyers warn of legal risks as Goldman, JPMorgan relax Covid safety in offices
Lawyers warn that City firms that opt to scrap social distancing requirements in the workplace could face a surge in employment…
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Short-seller Carson Block on GameStop, China and why a market crash could be ‘much larger, much faster’ than ever
Short-seller Carson Block, founder and chief investment officer of Muddy Waters Capital, spoke with Financial News in a Barron’s Live…
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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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Mark Dampier: Why an army of new investors might be disappointed with markets
Mark Dampier is former research director at the FTSE 100-listed investment platform Hargreaves Lansdown, and author of Effective Investing – A…
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Goldman tops bumper quarter for dealmakers with $1.6bn in M&A fees
Goldman Sachs capped a stellar third quarter for dealmakers by posting a 225% increase in M&A fees, and staved off…
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SEC says regulators should consider closer scrutiny of ‘game-like’ apps after GameStop
A trading frenzy in shares of GameStop earlier this year should lead regulators to consider whether “game-like” brokerage apps are…
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Biden’s Paid Leave Plan at Risk as Lawmakers Look to Shrink Package
Research on California, the first state to offer paid family leave, has mostly shown that paid leave has a positive…
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Digital lender N26 valued at $9bn after $900m funding round
N26 said on 18 October that it raked in more than $900m in a funding round that values the Berlin-based…
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Mortgage originations will drop 33% in 2022 as interest rates rise, according to industry forecast
A worker carries lumber as he builds a new home in Petaluma, California. Getty Images Rising interest rates will result…
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HSBC execs become ‘Dragons’ in quest for ideas in Europe
HSBC is launching a ‘Dragon’s Den’-style competition for staff within its European investment bank to pitch new ideas for bolstering…
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Supply chain chaos is already hitting global growth. And it’s about to get worse
Cargo trucks parked at the Port of Los Angeles in Los Angeles, California, U.S., on Wednesday, Oct. 13, 2021. Kyle…
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Fund management chiefs say tech will drive change as pressure builds on ESG
Technology will be a key driver of change in the asset management industry over the coming years, according to senior executives,…
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Goldman gets approval for full ownership of key unit in China
Chinese regulators approved Goldman Sachs Group’s application to take full ownership of a key local unit, another step in China’s gradual opening…
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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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Five things in crypto this week: Coinbase, JPMorgan’s Jamie Dimon, NFTs and a bitcoin ETF?
As investors wait with bated breath to see whether US regulators will approve an exchange-traded fund linked to bitcoin futures…
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Rising Rents Are Fueling Inflation, Posing Trouble for the Fed
The recovery in the New York area as a whole has been uneven as some families have moved to the…
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Citi’s M&A bankers and stock traders help push profit up 50%
Strong investment banking results and a surge in stock trading revenue helped push Citigroup profits up by nearly 50% as…
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Cathie Wood’s Ark to invest in bitcoin futures
Cathie Wood’s Ark Investment Management is the latest Wall Street heavyweight jostling for position to get involved in an exchange-traded…
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Dechert’s Smridhi Gulati on why City lawyers need more female role models
In the latest in our series of profiles with leading lawyers in the City, Dechert corporate partner Smridhi Gulati discusses how she…
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Here’s how Asia’s betting on Spacs to lure global investors
Spacs have lost some lustre in America, but stock exchanges in Singapore and Hong Kong are betting the vehicles will…
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There is nothing for you here: Finding opportunity in the 21st century
Fiona Hill grew up in a world of terminal decay. The last of the local mines had closed, businesses were…
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Martin Gilbert: Asset managers are still lagging on technology
Martin Gilbert is the co-founder and former chief executive of Aberdeen Asset Management and abrdn. He is now chairman of…
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Crypto scrutiny is just the start, White House official says
The Biden administration is only beginning to ramp up regulatory scrutiny around cryptocurrencies, according to a senior White House official.…
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Mind the gap: Proportion of female managers falls to 11.2%
At the end of September 2000, 14% of fund managers were female. Fast forward to the end of September 2020…
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Macklem aims to take bigger role on world stage after year of putting out fires at home
Breadcrumb Trail Links News FP Economy The rules of global finance are being rewritten and Tiff Macklem intends to be…
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Citigroup hires van Nouhuijs to lead Benelux banking team
Citigroup has hired the former chief executive of corporate and institutional banking at ABN Amro to lead its advisory team…
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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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