Corporate/Industrial News
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CDC data show 74% of people who tested positive for the virus in Massachusetts outbreak were fully vaccinated
A federal investigation into a COVID-19 outbreak earlier this month in a Massachusetts county that’s home to Cape Cod found…
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‘It feels like we are getting hit by a train’: Florida’s coronavirus cases jumped 50% this week
FORT LAUDERDALE, Fla. (AP) — Florida’s coronavirus cases jumped 50% this week, the state Health Department reported Friday, continuing a…
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Trump told Justice Department officials to declare election results ‘corrupt’ and ‘leave the rest to me and the [Republican] Congressmen’: contemporaneous notes
WASHINGTON (AP) — President Donald Trump urged senior Justice Department officials to declare the 2020 election results “corrupt” in a…
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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”…
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Credit Suisse M&A fees slide by 34% amid dealmaker exodus
Credit Suisse’s M&A revenues tumbled by 34% in the second quarter as the Swiss bank battled to stem an exodus…
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Lazard CEO Jacobs set for 12 star dealmaker hires amid record second quarter
Lazard is continuing to hire senior dealmakers amid an M&A boom that has pushed the independent investment bank to a record…
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Monzo faces FCA scrutiny over financial crime controls
Monzo has warned for the second consecutive year that there is “material uncertainty” over whether it can turn a profit…
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Trading Places: Credit Suisse nabs Goldman risk boss; Barclays’ overhaul rages on
As Credit Suisse continues to reel from scandal, the bank tapped a Goldman Sachs executive as its next chief risk…
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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…
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Bank of America hires Goldman’s Malhotra in leverage finance leadership role
Bank of America re-hired a senior Goldman Sachs dealmaker to lead its leveraged finance origination business in Europe. Uday Malhotra…
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NatWest Swung to 2Q Pretax Profit, Resumes Dividend, to Launch GBP750 Mln Share Buyback — Update
By Sabela Ojea NatWest Group PLC on Friday reported a swing to a pretax profit ahead of market views for…
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Credit Suisse made deep cuts to risk team ahead of Archegos collapse
Credit Suisse had just a single senior risk manager in its US prime services division last year as the bank…
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Investors call for vote on companies’ climate change plans
A group of more than 50 asset managers is calling for companies to disclose details of their progress on tackling…
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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…
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Robinhood suffers stock price dip after hyped IPO
Robinhood, the trading app synonymous with hot stocks, got a cold reception from investors in its own stock-market debut. The investing…
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Amazon stock falls 6% as pandemic sales boom appears to stall
Amazon.com Inc. sales growth slowed down in the second quarter of the year as bricks-and-mortar stores reopened across the U.S.,…
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Biden expected to outline requirement for federal workers to get vaccinated or face regular tests in latest push for U.S. vaccine program
President Joe Biden is expected to announce later Thursday a plan to require all federal employees to either get vaccinated…
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Robinhood set to receive a lukewarm reception on Wall Street
Robinhood Markets Inc., which has disrupted Wall Street with its no-fee trading app, is set to receive a rather lukewarm…
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Barclays unveils new M&A leaders in Europe as shake-up continues
Barclays named new leaders of its European mergers and acquisitions team in Europe, the latest shake-up at the UK lender’s…
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Barclays dealmakers post record quarter despite sharp fall in fixed income trading
Barclays investment bankers posted a record quarter despite a 40% slump in fixed income trading revenues as fees surged during…
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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,…
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Robinhood prices IPO at bottom of range on tepid demand
Robinhood priced its initial public offering at $38 a share, at the low end of expectations, after the popular trading…
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View: Why quashing Tom Hayes’ Libor conviction could spell a new era for the City
Tom Hayes stands within a whisker of rewriting his role in one of the biggest scandals to grip financial markets…
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Q&A: Inside EToro’s Spac plans
The Spac boom might be fading away, but trading platform EToro has high hopes that going public through a blank-cheque…
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STMicroelectronics 2Q Net Pft $412M
By Mauro Orru STMicroelectronics NV said Thursday that net profit and revenue surged in the second quarter and raised its…
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Morgan Stanley hikes junior banker salaries to $100,000
Morgan Stanley has raised base salaries for entry-level bankers to $100,000, leaving Goldman Sachs as the last remaining Wall Street bank…
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Schroders appoints Dame Elizabeth Corley as new chair
Schroders has appointed Dame Elizabeth Corley to succeed Michael Dobson as chair of the £700bn asset manager. The firm announced that…
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Wall Street banks crush European rivals in deal boom: ‘I still bear the scars’
Wall Street banks are turning the screw on their European rivals as deal flow has hit new highs. US investment…
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Nokia Raises FY Sales Guidance
By Dominic Chopping Nokia Corp. on Thursday posted a forecast-beating rise in second-quarter net profit and raised guidance, driven by…
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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…
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Hire ‘poor, hungry kids’ instead of ‘entitled’ grads to solve banker talent crisis, Xavier Rolet says
Investment banks should hire “poor, hungry” graduates if they want to stave off a crisis among junior bankers, which are rebelling…
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Nestle 1H Sales CHF41.76B
By Giulia Petroni Nestle SA said Thursday that net profit rose in the first half and raised its full-year organic…
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Fed says economy has ‘made progress’ toward standards for tapering, but not enough to start yet
The Federal Reserve on Wednesday signaled that the countdown has begun on scaling back its massive support for the U.S.…
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Tilray shares rocket 26% after it swings to a surprise profit and targets $4 billion in revenue by 2024
Shares of Canadian cannabis company Tilray Inc. jumped 26% Wednesday, after the company posted a surprise profit for its fiscal fourth…
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Google delays workers’ return to the office until mid-October, and will require vaccinations
SAN RAMON, Calif. (AP) — Google GOOG, -0.30% is postponing a return to the office for most workers until mid-October…
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Robinhood prices IPO at bottom of range, valuing trading app at $26.7 billion
Robinhood Markets Inc. priced its initial public offering at the bottom of its expected range Wednesday night, which still values…
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Facebook blows past estimates, but warns growth will ‘decelerate’ in second half of year
Facebook Inc. is the latest tech giant to cash in on a surge in digital advertising, but worrisome guidance in…
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Ford surprises Wall Street with Q2 profit, sees chip supply ‘improving’
Ford Motor Co. late Wednesday swung to a surprise quarterly profit, saying “strong” demand allowed it to forgo discounts on…
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Boeing Stock Is Jumping After a Surprise Profit. Here’s What’s Behind Its ‘Shocking Beat. ‘
A Boeing 737 MAX 10 airliner. Ellen Banner-Pool/Getty Images Commercial aerospace giant Boeing reported a surprise profit for the second…
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CDC head takes to the airwaves to sell change on face masks, as delta variant of SARS-COV-2 spreads to 132 countries
The head of the Centers for Disease Control and Prevention took to the airwaves on Wednesday to explain her agency’s…
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Home Depot uses Bluetooth to prevent stolen items from working and combat organized retail crime
Home Depot Inc. is using Bluetooth to deter organized retail crime, such as coordinated groups that steal from the retailer…
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Can Robinhood thread the needle for a winning IPO?
Initial public offerings can be a little bit like politics: a decent outcome may be when everyone is only a…
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Abrdn boss on why flexible working is here to stay: ‘We’ve proved remote work on a large scale can be effective’
The City is slowly stirring back to life, with the lifting of Covid restrictions in England on 19 July prompting…
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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…
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Deutsche Bank 2Q Profit Beats Estimates Amid Lower Provisions — Update
By Mauro Orru Deutsche Bank AG posted profit ahead of analysts’ expectations for the second quarter as provisions for credit…
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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…
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Adecco to Buy France’s AKKA Technologies in EUR2 Bln Deal
By Olivia Bugault Adecco Group AG said Wednesday that it will acquire engineering R&D services provider AKKA Technologies SE at…
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Credit Suisse set to issue report on Archegos errors
Credit Suisse is likely to publish an investigation as soon as Thursday into the breakdown that led to massive losses from…
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Barclays 2Q Pretax Profit Rose Above Views, Pre-Pandemic Levels — Update
By Sabela Ojea Barclays PLC on Wednesday reported a significant rise in pretax profit for the second quarter, surpassing market…
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Microsoft tops $60 billion in annual earnings for the first time to cap record-breaking year
Microsoft Corp. finished yet another record-breaking year with more than $60 billion in profit and $165 billion in sales, showing…
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