Corporate/Industrial News
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WHO warns world leaders against knee-jerk reaction to coronavirus variant from South Africa as U.K. and EU impose travel bans
The World Health Organization is pleading with world leaders not to engage in knee-jerk reactions to a new variant of…
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Oil plunges 11% as new COVID variant sparks shutdown fears
Oil futures were slammed to 11-week lows on Friday, pushing the U.S. benchmark back below the $70-a-barrel threshold on Friday…
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FCA racks up £5m laptop bill as remote working takes over
The Financial Conduct Authority has spent as least £5m on new laptops in the pivot towards working from home, new figures…
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Major cryptocurrencies tumble amid concern about new COVID variant
Major cryptocurrencies plunged on Friday amid a broad sell-offs of risky assets, after a new variant of COVID-19 was detected…
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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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Why sales trading still needs the human touch
Chris Jackson is global head of equity strategy and head of equities, Emea at Liquidnet The pandemic has accelerated a…
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Barclays expands prime broking as rivals pull back after Archegos
Barclays is making a fresh push into prime broking after rivals retreated in the wake of steep losses from the collapse…
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Heavyweight investors head to Downing Street as science and technology funds shoot up agenda
Some of the UK’s biggest investors have met with the prime minister and chancellor to discuss how to encourage hundreds…
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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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FCA says ‘poor quality’ paperwork is leading to backlog
Top staff at the Financial Conduct Authority have called on City firms to help it speed up its approvals process by making…
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Accounting regulator slams diversity failures in company reports
The UK’s accounting regulator has raised concerns over how honest companies are being in their financial reports when they miss diversity targets…
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Bitcoin and ether rise despite India’s crypto crackdown
The two leading digital assets were rising on 25 November amid optimism that new rules for cryptocurrencies planned by the…
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Ray Dalio’s Bridgewater raises $1.25bn for China-based fund
Bridgewater Associates has raised the equivalent of $1.25bn for its third investment fund in China, according to a person familiar…
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Remy Cointreau 1H Current Oper Pft EUR212.9M
By Joshua Kirby Remy Cointreau SA said Thursday that earnings doubled in the first half of the year thanks to…
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U.S. has already seen more COVID deaths in 2021 than 2020 before vaccines were available, as experts again warn pandemic is not over
The U.S. has already suffered more deaths from the coronavirus-borne illness COVID-19 in 2021 than in 2020, even though vaccines…
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An audience with John Studzinski: ‘I thought of being a priest, but in banking I do things my way’
John Studzinski urges junior bankers to seize career opportunities as they present themselves — even if such openings have changed…
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These stores will stay open on Thanksgiving — but many others are closed. Here’s a handy list.
With so many stores closing their doors for Thanksgiving Day, online shopping is poised to hit a new record, according…
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FCA pleads with City to promote ‘genuine’ ESG talent as hiring booms
The UK’s Financial Conduct Authority warned finance firms to avoid what it terms “competence-washing” within the City’s rapidly growing environmental,…
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U.S. new home sales inch higher in October
The numbers: U.S. new home sales rose 0.4% to a seasonally-adjusted annual rate of 745,000 in October from 742,000 in…
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Private equity turns to continuation funds to keep hold of trophy assets
Earlier this year, BC Partners found the perfect buyer for Springer Nature: itself. Unwilling to let go of its prized…
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Cathie Wood’s ARK funds swoop on Zoom after share price slump
Cathie Wood’s ARK funds bought more than 600,000 shares of Zoom after the stock slumped amid concerns of slowing growth. The ARK Innovation…
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Martin Gilbert: Investors can’t fight the tide of digitalisation
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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Private equity firms’ $714bn in dry powder set to surge even higher in 2022
Record-breaking fundraising, rising dry powder, and faster fundraising cycles; private equity is on steroids. Buyout shops worldwide have raised more…
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Hambro Perks Spac chooses London after FCA overhaul
Technology-focused venture capital firm, Hambro Perks, has unveiled a £150m special purpose acquisition company set to list on the London…
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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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HP stock surges as sales, earnings blow past Street estimates
HP Inc.’s stock surged 12% in extended trading Tuesday after the iconic computing giant reported a sharp jump in personal…
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Nordstrom stock plunges more than 20% on earnings miss, rising costs
Nordstrom Inc. stock dropped more than 20% in extended trading Tuesday after the retailer reported mixed quarterly results and said…
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Gap stock tanks as results miss, guidance lowered due to ‘significant’ supply-chain issues
Gap Inc. on Tuesday blamed “significant” supply-chain constraints as it cut its full-year earnings guidance and reported third-quarter results that…
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FCA chair shouldered ‘huge burden’, report finds, as campaigners call for consumer champion to fill role
A review of the Financial Conduct Authority’s board has heaped praise on outgoing chair Charles Randell, as campaigners continue to…
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Major London law firms hiring ‘anyone with a pulse’ as soaring salaries aren’t enough to keep junior lawyers
City law firms are struggling to retain junior lawyers in the wake of Covid-19, despite soaring salaries netting newly qualified…
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Dealmaker hiring spree pushes banker headcount to nine-year high
The number of senior dealmakers working at top investment banks is at its highest level in nearly a decade, as…
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Why Schroders’ Sue Noffke is still backing UK stocks after Brexit
As the world slowly begins to emerge from the Covid pandemic, investors are starting to re-evaluate portfolios and question whether…
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Why Schroders’ Sue Noffke is still backing UK stocks after Brexit
As the world slowly begins to emerge from the Covid pandemic, investors are starting to re-evaluate portfolios and question whether…
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U.S. economy grew rapidly in November, Markit surveys show, but shortages persist
U.S. businesses grew rapidly in November, but they are still being hampered by ongoing labor and supply shortages that are…
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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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Crypto payments firm MoonPay valued at $3.4bn after Coatue and Tiger injection
Crypto payments startup MoonPay has been valued at $3.4bn in its first time seeking outside equity funding, as part of…
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Citigroup to hire 100 roles into new digital assets unit
Citigroup has named a new head of digital assets within the division housing its investment bank, and will hire an additional…
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El Salvador is getting ready to roll out a bitcoin-backed bond
El Salvador is planning to issue next year $1bn in bonds backed by bitcoin, the latest effort by the economically…
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Cravath to pay $115,000 bonuses to junior lawyers in sector pay hike
Cravath Swaine & Moore will pay bonuses of up to $115,000 to its junior lawyers, an increase on the previous…
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Rothschild hires top Morgan Stanley analyst for equity advisory vice chair role
Rothschild has hired a top Morgan Stanley research analyst into a senior role within its equity advisory business amid a…
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Existing-home sales rise slightly as demand remains strong for housing
The numbers: Sales up by nearly 1% Existing-home sales moved higher in October despite expectations they would do the opposite,…
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JPMorgan offers to reimburse Hong Kong bankers’ quarantine costs
JPMorgan has told Hong Kong staff it will pay up to $5,000 back in compensation for their quarantine stay when…
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Biden, taking safe bet, backs Powell for second term
President Joe Biden has decided to give Fed Chairman Jerome Powell a second four-year term, the White House announced Monday.…
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UBS names ex-Morgan Stanley exec Colm Kelleher as next chair
UBS Group named former Morgan Stanley executive Colm Kelleher to succeed Axel Weber as its next chairman, landing a prominent…
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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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Deutsche Bank hires Wynaendts to take over from Achleitner as chairman
Deutsche Bank has tapped veteran banker, Alex Wynaendts, as its next chairman of the supervisory board, replacing former Goldman Sachs…
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