Corporate/Industrial News
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Sam Bankman-Fried Chucks the Crisis Communications Playbook
Sam Bankman-Fried sat for news interviews this week about the collapse of FTX, the cryptocurrency exchange he co-founded and once…
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Inflation and credit-card debt are on the rise, despite a strong job market. Tell us how the economy is affecting you.
We want to hear from readers who have stories to share about the effects of increasing costs and a changing…
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U.S. COVID cases are climbing again as new omicron variants spread
COVID-19 cases and hospitalizations in the U.S. are rising and intensive-care-unit beds are being filled again, in a trend that…
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Credit Suisse loses secondary-advisory executive to Baird
One of the most senior secondary private equity bankers at Credit Suisse has left the investment bank, according to several…
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U.S. adds 263,000 jobs in November and wages rise sharply — still too much for the Fed’s liking
The numbers: The U.S. created a robust 263,000 new jobs in November, showing that hiring is still historically strong and…
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Are nontraded funds really the best place to invest?
Congratulations. You’ve worked hard and made some money, and now you have access to a new class of investments. But when the…
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Ex-Competition and Markets Authority boss faces conflicts ban as he takes consultancy job
The recently departed chief executive of the UK’s competition watchdog has been told he is not allowed to lobby the…
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Blackstone stops redemptions from real estate fund as stock slides
Blackstone shares took a big hit after the investing giant’s real-estate fund aimed at wealthy individuals said it would limit redemptions.…
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Senate passes bill to prevent rail strike, rejects measure providing paid sick leave
The U.S. Senate on Thursday voted 80-15 in favor of a bill that would prevent a rail strike by imposing…
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This 82-year-old retiree makes makes moose calls
Butch Phillips, an 82-year-old member of the Penobscot Nation, etches 18-inch long moose call horns from birch bark he harvests…
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Ex-Goldman Sachs MD Adam Iqbal joins Capstone as portfolio manager
Hedge fund Capstone Investment Advisors has hired Goldman Sachs managing director Adam Iqbal to strengthen its portfolio management team. Iqbal,…
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Chinese cities announce further easing of COVID curbs, though police are still patrolling streets to stop protests
Major Chinese cities on Thursday announced a further easing of COVID restrictions, as police continued to patrol streets to avert…
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FTX’s Sam Bankman-Fried says he didn’t know scale of bad Alameda bets
Sam Bankman-Fried said that he didn’t intend to commit any fraud or use customer funds to back leveraged bets that…
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Credit Suisse’s comeback plan hasn’t won over investors yet
Credit Suisse $4.2bn share sale and sweeping restructuring were supposed to regain the market’s confidence. Instead, more investors are betting against the bank.…
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Blackstone sells stake in MGM Grand, Mandalay Bay as Las Vegas icons valued at $5.5bn
Blackstone has agreed to sell its 49.9% stake in two Las Vegas hotels in a deal that values the properties at…
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There are 50 million people in modern slavery – the City ‘can and should do more’
The City must step up to tackle modern slavery, according to leading campaigners, amid warnings the UK government is failing to prevent a…
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Why overstaffed teams and bad attitudes mean junior banker jobs are under threat
At the height of the 2008 financial crisis when banks fired tens of thousands of staff, junior bankers who were…
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TP ICAP registers crypto trading arm with UK regulator
London-based broker TP ICAP has become the latest institutional finance firm to get its crypto offering registered with the Financial…
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Pension fund heavyweights plan private markets boost to beat stagflation
Heavyweight pension funds plan to ramp up their exposure to private markets, global equities and thematic investments, as major players seek…
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Salesforce co-CEO Bret Taylor leaving, stock falls after lower-than-expected forecast
Salesforce Inc. performed better than expected in the third quarter, but executives issued a fourth-quarter forecast that fell short of…
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Okta CEO promises profit for all of next year — ‘The problem was never that we didn’t have talented sales people’
Okta Inc. executives on Tuesday said they will report an adjusted profit in the fourth quarter and, in a surprise,…
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U.S. job openings fall to 10.3 million — but labor market still too strong for the Fed
The numbers: Job openings in the U.S. fell to 10.3 million in October in another sign the labor market is cooling…
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XPeng stock rockets toward record rally as bulls brush off bad results, outlook
The U.S.-listed shares of China-based electric vehicle maker XPeng Inc. skyrocketed Wednesday, as investors cheered changes in China’s COVID policy…
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‘Grow up,’ ex-Celsius directors warn crypto as BlockFi joins bankruptcy club
Two former directors of the collapsed crypto lender Celsius Network have a warning for digital assets firms wishing to avoid…
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DoorDash to lay off 1,250 employees as CEO says costs grew too fast
Food-delivery platform DoorDash Inc. plans to lay off about 1,250 employees, becoming the latest technology company to admit that it…
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EY split offers chance to poach staff and clients, BDO UK boss says
EY’s looming split offers opportunities for rival firms to hire away staff and poach clients, the boss of accountancy firm BDO…
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Amazon Launches Supply-Chain Software Service
Amazon has a ready audience for its new supply-chain software with a phalanx of small- and medium-size businesses in its…
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Why early Alameda staff quit over Sam Bankman-Fried’s approach to risk
Years before Sam Bankman-Fried’s crypto empire collapsed, a group of employees quit in a power struggle — after becoming concerned about…
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Julius Baer hit with £18m fine over Russia dealings
UK regulators fined Swiss private bank Julius Baer more than £18m for improper dealings with Russian companies dating back more…
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U.S.-Backed Researchers Use AI to Probe for Weaknesses in Drug Supply Chains
The U.S. Department of Homeland Security has approved research that will use artificial intelligence to delve into drug supply chains…
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Jupiter agrees performance fee cut on Chrysalis trust after managers’ payouts slammed
Performance fees charged by the well-known Chrysalis investment trust have been slashed after its managers came under criticism last year for the size…
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BNP Paribas eyes move into private credit as leveraged lending dries up
BNP Paribas is eyeing a move into private credit, which could provide an alternative source of funding for major M&A deals as traditional…
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Apollo poaches new chief pensions strategist from state government
Connecticut state treasurer Shawn Wooden is joining Apollo Global Management as a partner and chief public pension strategist to help…
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UBS veteran Mark Lewisohn departs after 33 years at the Swiss bank
A 33-year veteran of UBS is leaving the bank, in the latest senior departure from its UK dealmaking team. Mark Lewisohn,…
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CrowdStrike stock drops nearly 20% as elongating sales cycle slows new subscriptions
CrowdStrike Holdings Inc. shares dropped in the extended session Tuesday after the cybersecurity company said new subscriptions came in below expectations…
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20 dividend stocks with high yields that have become more attractive right now
Income-seeking investors are looking at an opportunity to scoop up shares of real estate investment trusts. Stocks in that asset…
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IMF head joins chorus calling on China to adapt COVID strategy as officials pledge to boost vaccinations among elderly
The head of the International Monetary Fund on Tuesday joined the chorus of people urging China to adopt a more…
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Crypto lender BlockFi is suing Sam Bankman-Fried over his shares in Robinhood: report
Just hours after filing for Chapter 11 bankruptcy in New Jersey on Monday, cryptocurrency lender BlockFi filed a lawsuit against…
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FTSE Russell launches first crypto-based index series
FTSE Russell has launched its first index series covering the digital asset market. The firm said it had worked with crypto…
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BlackRock’s Europe boss: We’re exploring digital assets in Emea
BlackRock, the world’s largest asset manager, has started to assess how the plumbing underpinning the crypto market can be applied…
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Nestle lifts guidances, confirms plan to buy back $21 billion shares over 2022-24
Nestle SA has lifted its full-year organic sales-growth guidance and outlined targets for 2025 ahead of its investor seminar on…
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Bridgepoint mulls $1bn deal for energy investment firm
Bridgepoint Group in London said it is evaluating a possible bid for Energy Capital Partners, commenting after a report that the…
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‘A rail shutdown would devastate our economy’: Biden urges Congress to head off potential strike
OMAHA, Neb. — President Joe Biden on Monday asked Congress to intervene and block a railroad strike before next month’s…
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Black Friday online sales top $9 billion to break all-time record
A record $9.12 billion was spent online for Black Friday, Nov. 25, up 2.3% from Black Friday in 2021. Electronics were the major…
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Meet the 21 Goldman Sachs partners to make the cut in Europe
Goldman Sachs has named its largest partner class for eight years and its most diverse ever as the US banking…
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Deutsche Bank CEO calls on regulators to loosen rules that ‘structurally disadvantage’ European banks
Deutsche Bank chief executive Christian Sewing has called on politicians and regulators to overhaul rules that “structurally disadvantage” European banks against…
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Cyber Insurers Turn Attention to Catastrophic Hacks
While cyber insurance has evolved significantly in recent years, insurers say they might still be unprepared for the fallout from…
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Meet Goldman Sachs’ first Bangladeshi partner as US bank aims to diversify upper ranks
Goldman Sachs promoted a record number of non-whites and women to its elite ranks in its largest partner class for…
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BlockFi files for bankruptcy as crypto rout claims latest victim
Cryptocurrency lender BlockFi filed for bankruptcy on 28 November, making it the latest major digital assets company to fail since…
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The Fintech Files: Fidelity cashes in on crypto mayhem, Cunliffe calls for regulation, FTX bankruptcy latest
The collapse of Sam Bankman-Fried’s FTX has shattered confidence in the crypto sector and, in some people’s eyes, presented it…
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