breaking financial news
- Finance
Fresh wave of travel restrictions triggered on new Covid-19 variant reported by South Africa
JOHANNESBURG — Dozens of countries restricted travel to and from South Africa and neighbouring nations on 26 November, hoping to contain…
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Private equity buyout boom hammers corporate bond investors
Leveraged buyouts of companies by private equity firms are sweeping Europe, leaving corporate bond investors exposed to losses. Just this…
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The City’s ESG infatuation in five charts
The pandemic supercharged the growing interest in environmental, social and governance issues in the City. COP26 — the 2021 United…
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Inflation is not going away any time soon – and Biden will have to wait it out like the rest of us
Customers stand in line to check out at a grocery store in San Francisco, California, U.S., on Thursday, Nov. 11,…
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For Afghan Refugees, a Choice Between Community and Opportunity
FREMONT, Ca. — Harris Mojadedi’s parents fled Afghanistan’s communist revolution four decades ago and arrived as refugees in this San…
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Not since Americans came home from World War II has inflation run through the economy like it is now
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S.…
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Key inflation figure for the Fed up 4.1% year over year, the highest since January 1991
Gasoline prices are displayed at a gas station on November 16, 2021 in San Mateo County, California. Liu Guanguan |…
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Unusual holiday home-buying surge pushes mortgage demand higher
A real estate sign advertising a home “Under Contract” is pictured in Vienna, Virginia, outside of Washington. Larry Downing |…
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How Elon Musk’s tax bill is falling as Tesla’s share price wanes
Elon Musk already faces a federal tax bill approaching $2.7bn on exercising Tesla stock options. It would have been bigger if the company’s share…
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Starling chief Boden blasts failed open banking regime
The UK’s open banking regime has flopped because there is insufficient demand for the service from both consumers and fintechs, Starling Bank chief…
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Crypto cashback sets off moral panic on Britain’s high street
A major step towards the mainstream adoption of cryptocurrencies has turned out to be nothing more than a damp squib,…
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ESG should face ‘greater attention’ from regulators, says securities watchdog
IOSCO has published recommendations to combat growing scepticism that ESG claims could be tantamount to greenwashing amid a market lacking…
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AssetCo and Premier Miton table bids for River & Mercantile
River & Mercantile, the £47.6bn UK-listed asset manager, has been approached by Premier Miton and AssetCo with separate offers to…
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Houlihan Lokey adds 14 dealmakers in rapid European expansion
Independent investment bank Houlihan Lokey has made a major push into covering the business services sector with the addition of…
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JPMorgan, Goldman Sachs should boost capital buffers, global regulators say
Global financial regulators told JPMorgan, Goldman Sachs and BNP Paribas to boost their capital buffers under rules intended to help avoid a repeat of the 2008…
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Behind the Powell pick: a bet the economy has room to grow and inflation will fade.
President Biden’s decision to renominate Jerome H. Powell to head the Federal Reserve reflects the president’s belief that despite high…
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The Holiday Travel Crush Has Begun. Are the Airlines Up to It?
Widespread flight cancellations. Excruciating waits for customer service. Unruly passengers. And that was all before the holiday travel season. Even…
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Here’s what you need to know about Lael Brainard, Biden’s pick for vice chair at the Fed
Lael Brainard, governor of the U.S. Federal Reserve, listens during an event sponsored by the Economic Club of New York…
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Glasgow’s elephant in the room: $1tn a year for emerging markets
The financial sector’s pledges at the COP26 climate change conference in Glasgow rightly came under intense scrutiny. But amid all…
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Deutsche Bank hires Moelis dealmaker Liddy as European expansion continues
Deutsche Bank has bolstered its European investment bank with a senior dealmaker from Moelis & Co, as the German lender…
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McKinsey agrees to $18m settlement with SEC over poor insider trading controls
WASHINGTON — McKinsey has agreed to pay $18m to settle allegations that it didn’t adequately guard against the risk of…
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Keir Starmer calls for economic ‘reset’ after Brexit and Covid
Which MPs are raking it in from City law firms?Which MPs are raking it in from City law firms?The UK…
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Market is ‘one more bad inflation report’ away from a correction, Wharton’s Jeremy Siegel warns
Long-term market bull Jeremy Siegel expects a serious pullback that it isn’t tied to the Covid-19 surge risks. His tipping…
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Trading Places: Credit Suisse names Asia-Pacific head, Nomura poaches from Natixis
Job changes in the City may be starting to slow down as we approach the end of the year, but…
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Mark Mobius says pile 10% into gold, and calls China crackdowns ‘a good thing’
With China and inflation two of the biggest topics on investors’ radars, the timing could hardly be better for our…
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Robinhood survives meme stock lawsuit
Robinhood scored a victory as a federal judge dismissed a lawsuit accusing the brokerage of colluding with electronic trading firm Citadel…
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Equal Pay Day shows why the City needs to step up on diversity
Maike Currie is head of personal finance and markets content at Fidelity International. Thursday 18 November 2021 is Equal Pay…
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B.C. flooding could be Canada’s costliest disaster as cut-off Port of Vancouver snarls supply chain
Breadcrumb Trail Links News FP Economy Goods arriving to be sold ahead of Christmas and staples such as food supplies…
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Which MPs are raking it in from City law firms?
Former attorney general Sir Geoffrey Cox has hit the headlines in a big way this week thanks to revelations that…
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SEC eyes rule changes as activist investors circle corporate boards
Activist investors competing to join a company’s board of directors could get a boost for their campaigns under a plan…
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Why a digital euro isn’t a forgone conclusion, despite its advantages
Katharine Neiss is chief European economist at PGIM Fixed Income and a former bank of England Monetary Policy Committee member…
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ESG is more powerful than former BlackRock exec Tariq Fancy thinks
In his Secret Diary of a ‘Sustainable Investor’, BlackRock’s former sustainable investing CIO Tariq Fancy makes several assertions that have at worst undermined…
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GOP report shows inflation hurts low-income Americans the most, blames Democrats for price jumps
A person shops in the meat section of a grocery store on November 11, 2021 in Los Angeles, California. Mario…
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FCA looks to recruit outside of London to double down on regional strategy
The Financial Conduct is pledging to hire hundreds of new roles outside of London as it pushes ahead with plans…
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Extending clearing equivalence is a dose of post-Brexit realism
Olivier Fines is head of advocacy for Europe, the Middle East and Africa at the CFA Institute The European Commission’s decision to…
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Freshfields’ Ali Kirby-Harris on how to make partner: ‘Watch others like a hawk’
Freshfields dispute resolution partner Ali Kirby-Harris talks how she has juggled multiple periods of maternity leave with making it to the top…
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View: Politicians must stop bashing the UK’s banks
How much longer must the banks stay in the sin bin? It is now 13 years since RBS and Lloyds…
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Credit Suisse kicks off ‘very aggressive’ hiring spree after Archegos exodus
Credit Suisse has hired or promoted 45 senior dealmakers in key markets this year, as the Swiss bank has raced…
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Meet Stephanie Brobbey, the private wealth lawyer trying to get the rich to give up their money
Living with purpose sounds like a nice idea, but can often get lost in the stresses and strains of everyday…
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Asset manager Bitwise pulls plan for a bitcoin ETF
A second firm has halted the launch of a bitcoin futures exchange-traded fund, calling the products too costly for many…
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How a $64bn lawsuit could unveil bitcoin creator Satoshi Nakamoto
A seemingly run-of-the-mill trial is playing out in Florida: The family of a deceased man is suing his former business…
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Bank of England’s Jon Cunliffe says bitcoin threat to financial stability is ‘getting closer’
The threat that cryptocurrencies such as bitcoin pose to global financial stability is “getting closer”, a top Bank of England…
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The number of U.S. workers quitting their jobs in September was the highest on record.
Employers are still struggling to fill millions of open jobs — and to hold on to the workers they already…
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Traders back Tesla and Amazon with rush of options bets
Stock-options activity is hitting a fever pitch, with many traders rushing to bullish bets to profit from a continued advance…
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Trading Places: Compton takes IB reins at Barclays, BNP Paribas lands ECM banker
Here’s this week’s roundup of who is changing jobs at the top of the City. Barclays named Paul Compton as…
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JPMorgan poaches Goldman Sachs dealmaker to lead German ECM
JPMorgan has bolstered its European equity capital markets team with a new head of German-speaking countries amid a hiring spree…
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BoE’s Catherine Mann warns pandemic ‘she-cession’ to hurt women more than men
Women are at risk of falling further behind their peers on the career ladder as workers return to the office…
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How Binance took the crypto market by storm, then caught the eye of governments
The world’s fastest-growing major financial exchange has no head office or formal address, lacks licenses in countries where it operates,…
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View: Despite Staley’s battles, investors have undervalued Barclays
When Nigel Higgins was appointed chairman of Barclays three years ago, some close observers predicted he would quickly look for…
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Big business bosses are warning that supply chain issues and inflation are here to stay
A truck picks up a shipping container at the Port of Savannah in Georgia. The supply chain crisis has created…
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