Corporate/Industrial News
- Market
Cosmetics brand E.L.F. is partnering with Chipotle on a burrito- and guacamole-inspired makeup line
If you love guacamole, E.L.F. Beauty Inc. ELF, -2.58% has just the eyeshadow for you. Chipotle Mexican Grill Inc. CMG,…
Read More » - Finance
Budget tax hike threatens plan for City post -Brexit fightback
Imagine you are the European boss of a US financial firm based in Canary Wharf. Post Brexit you are wrestling…
Read More » - Market
U.S. COVID death toll above 518,000 as Biden adds voice to outrage at Texas and Mississippi for reopening
The U.S. death toll from the coronavirus-borne illness COVID-19 climbed above 518,000 on Thursday, as President Joe Biden added his…
Read More » - Finance
Aviva plans to slash UK office space by up to 30% by end of 2021
UK insurer Aviva plans to cut up to 30% of its 1.7 million square feet office space across the UK.…
Read More » - Finance
FCA bans ex-Stifel trader for market abuse
The Financial Conduct Authority has banned a former Stifel Nicolaus Europe market-making trader from regulated activity and fined him £52,500…
Read More » - Finance
Credit Suisse tells juniors to expense takeaways as deal boom makes all-nighters the norm
Investment banks are rolling out a new perk for juniors burning the midnight oil at home — free takeaways. Banks…
Read More » - Finance
Schroders predicts ‘favourable environment’ for active funds as assets reach new high
Schroders posted a 15% increase in assets under management last year, cementing its position as the UK’s largest listed fund…
Read More » - Finance
Deliveroo picks London for $7bn IPO
Food delivery company Deliveroo has chosen London for its initial public offering. In a 4 March press release, the firm…
Read More » - Finance
Vaccine rollout helps end dry spell for UK equity fund inflows
Investment funds that invest specifically in UK-listed companies turned a corner in February, with the rapid rollout of Britain’s Covid…
Read More » - Finance
KPMG UK agrees sale of restructuring business in PE-backed management buyout
KPMG UK has agreed to sell its restructuring unit in a management buyout backed by private equity firm H.I.G. Europe.…
Read More » - Finance
Hong Kong won’t appeal ex-JPMorgan banker bribery acquittal
The Hong Kong government won’t appeal the acquittal of an ex-JPMorgan banker accused of bribery after offering a job to…
Read More » - Finance
Budget 2021: Corporation tax will bite most profitable UK companies
Chancellor Rishi Sunak’s move to raise corporation tax to 25% from 19% by 2023 has been greeted with resigned acceptance…
Read More » - Finance
Wealth managers warn UK’s richest: A wealth tax is coming
Britain’s richest bankers and hedge fund managers should prepare now for the introduction of tax hits on their wealth to plug…
Read More » - Market
AMD releasing new gaming card amid chip shortage
Advanced Micro Devices Inc. said Wednesday it’s releasing a new model of gaming card amid shortages that have plagued customers…
Read More » - Market
Wall Street’s 20 favorite infrastructure stocks are expected to climb as much as 34% over the next year
Getting a C-minus grade usually isn’t good news, but it promises to be just that for investors looking to capitalize…
Read More » - Finance
Budget 2021: Five key takeaways for the City
The Chancellor of the Exchequer Rishi Sunak has delivered his Budget for 2021, announcing a raft of changes to ensure…
Read More » - Market
The huge service side of the economy suffers a hiccup in February, ISM finds
The numbers: The huge service side of the U.S. economy grew more slowly in February, but not because of a…
Read More » - Market
Zoom Video can still thrive in a post-vaccine world, analysts say
Zoom Video Communications Inc. continued to show strong momentum in its latest quarter, fueling optimism that the company can keep…
Read More » - Finance
Greensill Capital planning insolvency amid deal talks with Apollo
Embattled financial startup Greensill Capital plans to file for insolvency in the UK this week, as it simultaneously moved toward…
Read More » - Finance
Deutsche Bank shakes-up junior recruitment to diversify from MBA hires
Deutsche Bank is overhauling the way it hires junior bankers, expanding jobs typically reserved for elite MBAs to professionals with…
Read More » - Finance
Deloitte agrees to pay Malaysia $80m to settle 1MDB claims
Accountancy firm Deloitte PLT has agreed to pay the Malaysian government $80m to settle claims relating to its auditing of…
Read More » - Finance
New Citi CEO Jane Fraser unveils net-zero targets on first day at the helm
Citigroup chief executive Jane Fraser has used her first day at the helm of the US bank to unveil ambitious…
Read More » - Finance
Financial services firms move £1.3tn out of UK since Brexit vote
Financial services firms have said they have moved £1.3tn from the UK to the EU since the 2016 Brexit referendum. Data…
Read More » - Finance
Regulators monitor Greensill as financier scrambles to sell core parts of business
Pressure mounted on embattled SoftBank Group-backed Greensill Capital as it scrambled to sell core parts of its business and regulators…
Read More » - Finance
Jon Little’s Alderwood Capital begins hunt for investors
Alderwood Capital, the fund management business launched by former Northill Capital founder Jon Little, has made a trio of hires…
Read More » - Market
Lyft sees best week for rides since pandemic began, stock rises sharply
In the best sign yet of a recovery in ride hailing, Lyft Inc. said Tuesday that it saw its largest…
Read More » - Finance
City hedge fund manager’s suicide indicative of wider sector Covid stress
A hedge fund manager who took his own life last year was experiencing high stress amid a tough time for…
Read More » - Market
25 stocks of companies backed by rapid earnings growth as the economy reopens
With the pace of new COVID-19 cases slowing, many investors expect economic growth to accelerate over the course of 2021.…
Read More » - Finance
‘Before Covid, WFH was seen as a day at the golf course’: How the pandemic changed the City forever
On a cold, wet morning on 5 March 2020 around 100 equity research analysts were ushered down a fire escape…
Read More » - Market
Chairman of Alibaba’s Ant Group insists IPO is still on the cards
The head of the Chinese fintech company Ant Group, which was prevented from listing in November by the country’s central…
Read More » - Finance
The record boom in blank-cheque firms could make 2021 the year of the Spac
The boom in special purpose acquisition companies – or Spacs – is set to continue and this year looks on…
Read More » - Finance
GAM calls time on supply chain finance fund linked to Greensill
GAM, the Switzerland headquartered asset manager, has announced it will close an investment fund linked to Greensill Capital — the…
Read More » - Finance
Goldman Sachs creates new London team to capitalise on Spac boom
Goldman Sachs has shifted two of its most senior equity bankers in London into a new team that will look…
Read More » - Finance
UK IPOs off to best start for 15 years ahead of listings review shake-up
The London Stock Exchange has had its strongest start to a year since 2016 ahead of the publication of a…
Read More » - Finance
Almost a quarter of companies will be net zero by 2030, say Fidelity analysts
Analysts working at investment giant Fidelity International, the $706bn asset manager, predict almost a quarter of all the companies they…
Read More » - Finance
Covid-19 is causing a ‘shecession’ as pandemic impacts gender equality at work
The pandemic is causing a “shecession”, as progress for women in work falls back to 2017 levels, a PwC report…
Read More » - Market
Hyatt Hotels condemns ‘abhorrent’ hate symbols and ‘disrespectful’ CPAC guests following conservative conference
Looks like Hyatt might have reservations about hosting the Conservative Political Action Conference in the future. Hyatt Hotels Corp. H,…
Read More » - Health
WSJ News Exclusive | Oil Trade Group Is Poised to Endorse Carbon Pricing
WASHINGTON—The oil industry’s top lobbying group is preparing to endorse setting a price on carbon emissions in what would be…
Read More » - Market
Nio’s sales top $2 billion in ‘transformational’ year
Nio Inc.’s American depositary receipts fell more than 3% in the extended session Monday after the China-based electric-car maker reported…
Read More » - Market
Zoom earnings roared to nearly $1 billion in 2020, and the stock is rising again
Zoom Video Communications Inc.’s rip-roaring ride resumed its meteoric trajectory Monday, with shares jumping as the company detailed the results…
Read More » - Market
Stressed about saving for retirement? Focus on your ‘bottom line’
The cost of living is high — for some more than others — but a few changes in spending can…
Read More » - Finance
Softbank agrees $1.6bn settlement with ex-WeWork boss Adam Neumann, others
Softbank has announced it has reached a $1.6bn settlement to a lawsuit brought against it by ex-WeWork chief executive Adam…
Read More » - Finance
Greensill Capital faces possible insolvency after Credit Suisse suspends investment funds
Greensill Capital is headed toward a rapid unraveling after Credit Suisse Group suspended $10bn of investment funds that fuelled the…
Read More » - Finance
Execs at City watchdog FCA face pay cuts amid fallout from LCF collapse
The City watchdog’s executive committee members face pay and bonus cuts as part of the fallout from the collapse of…
Read More » - Finance
Goldman Sachs asset management co-head Lane to step down
Eric Lane, the co-head of Goldman Sachs global asset management business, is stepping down six months after being appointed to…
Read More » - Market
This bank tripled negative interest-rate deposits — and expects that business to improve
The Bank of Ireland said on Monday that it tripled negative interest-rate deposits last year — and plans to further…
Read More » - Finance
Timeline of the collapse of London Capital & Finance
The ramifications of the now-collapsed mini-bond investment firm London Capital & Finance are still being felt across the City. As…
Read More » - Finance
M&A surges to record $405bn in February as tech deals boom: ‘2021 is shaping up to be incredibly busy’
Companies across the globe clinched almost $700bn worth of mergers and acquisitions during the first two months of the year,…
Read More » - Finance
Klarna valued at $31bn after Swedish fintech raises $1bn from funding round
Swedish payments giant Klarna has closed a fresh $1bn financing round, pushing the company’s valuation up to $31bn ahead of…
Read More » - Finance
Credit Suisse suspends $10bn in funds tied to Greensill
Credit Suisse said it suspended a group of private investment funds tied to supply-chain finance assets created by SoftBank-backed specialty-finance company Greensill…
Read More »
