Corporate/Industrial News
- Finance
Fund manager M&A frenzy spills into first quarter as global deals reach $18bn
The wave of fund manager M&A that drove global deal numbers to a record high last year has run into 2022, with the…
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Lordstown Motors’ Ability to Stay in Business Hinges on Raising Capital, Valuation, CFO Says
Lordstown Motors Corp.’s ability to stay in business for at least another year remains in doubt until it secures more…
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How Warren Buffett made the stock market selloff work for Berkshire Hathaway
The stock market’s selloff has been bad news for most investors. Not for Warren Buffett and his team. Buffett’s Berkshire…
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Citigroup launches new VC and family office team with Tobi Ali at the helm
Citigroup is launching a new team of dealmakers to focus on venture capital firms and family offices, the latest appointment…
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Abbott, FDA reach deal to resume making baby formula at U.S. plant amid shortage
Abbott Laboratories and the Food and Drug Administration reached a deal Monday to restart production of baby formula at a…
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U.S. COVID cases at highest levels since November, while Northeast and Midwest are above delta peak
COVID cases continued to rise across the U.S. on Monday and were trending at the highest levels seen since late…
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Anti-FCA activists to march on Parliament for better regulation
A campaign group is organising a march on Parliament to protest against a Financial Conduct Authority that it says is…
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Asset managers with £6.5tn sign up to tackle diversity greenwashing
Schroders, Legal & General Investment Management and Aviva Investors are among 15 asset managers that have signed up to a…
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India Can’t Hang Up on Chinese Smartphones
India and China are in a standoff again, but it isn’t at the border. India is investigating Chinese smartphone maker…
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SEC chair Gary Gensler says crypto assets are securities and thus ‘core to our remit’
Securities and Exchange Commission chair Gary Gensler said that crypto assets count as a “security contract”, which falls under the…
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FCA sees flood of applicants for prized crypto job
Seventy-six applicants are vying to head up crypto regulation at the Financial Conduct Authority, Financial News can reveal. That is…
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Goldman Sachs says senior bankers are free to take as much time out as they want
Goldman Sachs rolled out a new policy that will allow its most senior staff to take as much leave as…
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Grayscale launches ETF in Europe to track ‘future of finance’ stocks like Coinbase, Robinhood
Grayscale is launching its first European ETF, the Grayscale Future of Finance UCITS, which will list on the London Stock…
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Ryanair FY 2022 Net Loss Narrowed, Beats Consensus; Expects Return to Profitability in FY 2023
By Anthony O. Goriainoff Ryanair Holdings PLC said on Monday that its net loss for the fourth quarter narrowed as…
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KPMG and former staff face ‘serious regulatory sanctions’ over misleading Carillion probe
KPMG and multiple former staff members are facing “serious regulatory sanctions” over their engagement in a conspiracy to mislead inspectors…
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Trading Places: Magic Circle’s record promotions, banks poach for ESG and private markets
The City’s banks and professional services firms had another busy week on the hiring front, trying to cash in on…
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FTX’s crypto clearing plan needs scrutiny, says CFTC chair Rostin Benham
Commodity Futures Trading Commission chair Rostin Behnam said that a proposal by FTX, a crypto derivatives exchange, to create a…
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Crypto’s Wild West needs taming, IOSCO says: ‘It’s time for a sheriff to come to town’
The secretary general of the International Organisation of Securities Commissions, Martin Moloney, said regulators must brace for a new era…
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As Calls to Leave Russia Continue, Some U.S. Tech Firms Opt to Stay
Facing pressure to cut all ties with Russia—Ukrainian President Volodymyr Zelensky made another such exhortation this week—some U.S. companies continue…
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How a stablecoin crash shook the crypto market
The cryptocurrency TerraUSD had one job: Maintain its value at $1 per coin. Since it launched in 2020, it had…
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Elliott’s London staff set for more responsibility as hedge fund shuts last Asia office
High-profile activist investor Elliott Management is shutting up shop in Asia, according to reports, as the hedge fund’s London office prepares…
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They Fled Ukraine to Keep Their Cyber Startup Alive. Now, They’re Hacking Back.
Dozens of employees at Ukrainian cybersecurity startup Hacken fled their war-torn country and found refuge about 2,000 miles away in…
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Silicon Battery Maker Amprius to Go Public in $1.3 Billion SPAC Merger
Amprius Technologies Inc. has reached a deal with a special-purpose acquisition company that values the maker of silicon-anode batteries at…
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Senate gives Fed Chairman Powell vote of confidence and a second 4-year term
Federal Reserve Chairman Jerome Powell on Thursday was given a vote of confidence by lawmakers. The Senate voted to confirm…
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Biden mourns one million American lives lost to pandemic, orders flags to fly at half-mast to honor the dead
President Joe Biden mourned the one million American lives lost to the pandemic on Thursday, and said flags will be…
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SoftBank Reports Its Biggest-Ever Full-Year Loss
“The world is in a chaotic situation,” said Chief Executive Masayoshi Son, citing Covid-19 and Russia’s invasion of Ukraine. “In…
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Citigroup names Tom Anderson as chief compliance officer
Citigroup has named Tom Anderson as its new chief compliance officer. Anderson, who currently serves as compliance chief of Citi’s…
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Coinbase warns crypto users may not be protected in the event of bankruptcy
Cryptocurrency trading platforms might look and feel like regular brokerage apps to everyday users, but regulators have long warned they…
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Merck KGaA 1Q After-Tax Pft EUR884M
By Xavier Fontdegloria Merck KGaA said Thursday that it expected higher profit and sales for 2022 after earnings and revenue…
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Disney stock turns to a loss after warning about rough road ahead for streaming
The Walt Disney Co. added more streaming subscribers than expected in the wake of problems at rival Netflix Inc., but…
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Businesses Seek to Soften SEC Cyber Rules
Companies including Chevron Corp. , Quest Diagnostics Inc. and Ernst & Young LLP are pushing to narrow proposed cybersecurity rules…
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WHO head censored in China after criticizing zero-COVID policy, and U.S. cases are now up 52% from two weeks ago
The head of the World Health Organization is being censored on China’s internet after criticizing its zero-COVID policy for being…
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Bitcoin plunges as Terra’s meltdown drags cryptos lower
Bitcoin and other cryptocurrencies remained under pressure, with the focus on the meltdown of stablecoin TerraUSD, which is designed to be pegged to…
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BlackRock downgrades outlook for Chinese assets citing ‘Beijing’s ties to Russia’
BlackRock has downgraded its outlook for Chinese stocks and bonds on the back of weakening growth expectations and geopolitical risks…
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Moderna CFO out after two days in the role as former employer Dentsply discloses probe of financial reporting
Moderna Inc. surprised investors Wednesday with the news that its chief financial officer has departed the company just two days…
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Goldman Sachs boss David Solomon: Return to the office could take years
Getting staff back to the office could take years, Goldman Sachs CEO David Solomon said, as in-person attendance at the bank’s US premises remains between…
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