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Traders are wondering what happened to TerraUSD’s $3bn war chest
The collapse of the cryptocurrency TerraUSD has traders wondering what happened to the $3bn war chest meant to defend it.…
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HSBC exec suspended for ESG comments brought ‘dose of honesty’ to debate, ex-BlackRock sustainable investing chief says
HSBC Asset Management responsible investing head Stuart Kirk caused an uproar when he branded climate warnings from environmental “nut jobs” as false, leading…
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Bank of America CEO Brian Moynihan: ESG transition is a ‘big business opportunity’
Bank of America chief executive, Brian Moynihan, says that the ESG transition is a “big business opportunity” for the bank…
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StanChart says 48,000 bankers are working hybrid after pandemic overhaul
Close to 48,000 Standard Chartered employees are now working in a formal hybrid pattern after the bank overhauled its working…
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Jefferies calls senior dealmakers to return to the office to mentor ‘abandoned’ juniors
Jefferies has called on its senior bankers to return to the office to help mentor those in the junior ranks…
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Millennials are set to leapfrog boomers in asset accumulation. Brace for the impact on markets
The consumer discretionary sector is the worst performing sector year-to-date, down more than 20% due to soaring inflation. E-commerce stocks such…
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The Fintech Files: Kalifa’s rallying cry, pro traders pick bitcoin and Klarna to axe jobs
A little over a year ago, Ron Kalifa’s review into Britain’s fintech scene landed – and it caused quite a…
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Even a recession wouldn’t cure inflation, former Obama adviser says
There’s increasing talk that the Federal Reserve’s interest rate hikes will cause a U.S. recession next year, but even a…
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Nomura eyes 15 tech dealmaker hires as march on Wall Street gathers pace
Nomura is building a team of up to 15 senior dealmakers to tackle the digital and software sectors, part of…
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Cenkos scores five hires to bolster growth
Institutional stockbroker Cenkos has scored five new hires as it looks to grow its corporate finance, sales and research teams. Former head…
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Mark Mobius sees bitcoin plunging to $10k: ‘Buy the dip will not work’
Veteran emerging markets investor Mark Mobius has warned investors not to “buy the dip” following the latest crash in bitcoin’s…
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HSBC plans trader hires as part of first foray into carbon market
HSBC is looking to enter the voluntary carbon market for the first time, joining Citigroup, BP and Shell as the…
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GameStop rolls out digital wallet for NFT tokens and crypto
GameStop launched a digital wallet for cryptocurrencies and nonfungible tokens, pushing further into a buzzy area as it looks to…
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Klarna plans to lay off 10% of workers due to poor market conditions
Buy-now-pay-later giant Klarna is to lay off about one-in-10 of its employees, as the company fights against a worsening economic…
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Russian ruble surges on report some capital controls may ease up
The Russian ruble surged on Monday, following a report that the government plans to cut a key foreign exchange limit…
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Banking giants told to move staff to Europe as ECB Brexit review finds ‘empty shells’
A major European Central Bank review has slammed banks for not shifting enough resources to the EU in the wake…
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Jefferies poaches Barclays’ Lambert as European dealmaker hiring spree continues
Jefferies has hired a senior Barclays dealmaker to bolster its coverage of the consumer and retail sectors in Europe. The…
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Ex-BitMEX CEO sentenced over money laundering compliance failure
Arthur Hayes, a co-founder and former chief executive of cryptocurrency derivatives exchange BitMEX, has been sentenced to serve six months…
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Buy the dip or sell the ‘rip’?: What’s ahead for stock investors as ‘sticky’ inflation fears heighten consumer concern
Investors, already grappling with a sinking stock market and fears that the U.S. economy may be heading for a recession,…
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Bitcoin and other cryptocurrencies are rallying — watch out for another downward move
Bitcoin and other cryptocurrencies were rallying on 20 May as digital assets continued a recent outperformance of stocks, though there are…
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Trading Places: Credit Suisse nabs Barclays’ Moreno, Jefferies hires Lambert, SocGen’s Oudéa to step down
It was a tough week for Barclays. Credit Suisse poached Nacho Moreno, the head of investment banking at Barclays in Spain,…
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Credit Suisse hires Barclays’ Nacho Moreno to head Spain and Portugal dealmaking
Credit Suisse has poached the head of investment banking at Barclays in Spain, the latest senior hire at the Swiss…
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How inflation could help us save money — and the planet
Inflation has many Americans worrying — a jump in prices of groceries and gas means paying more for fewer items,…
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IRS audit rates keep dropping — especially for the 1%
No matter the size of a household’s budget, the increasingly short-staffed and cash-strapped Internal Revenue Service has been conducting fewer…
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SoftBank-backed fintech giant Klarna looks for new funds at lower valuation
Klarna Bank is seeking to raise new funds that could value the fintech giant at almost a third less than…
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Goldman Sachs adds 350 bankers in Europe as Brexit plans rolled out
Goldman Sachs bolstered its EU operations by 350 staff last year, as major investment banks face increasing pressure to shift staff to…
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MicroStrategy Won’t Change Bitcoin Plans Despite Recent Declines, New CFO Says
MicroStrategy Inc.’s new chief financial officer on Wednesday said its strategy to buy and hold bitcoin long term won’t change…
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SEC chair Gary Gensler says there is more crypto pain to come
Securities and Exchange Commission chairman Gary Gensler said 18 May he worries that more investors will be harmed in cryptocurrency…
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Citi’s new Malaga hub attracts 3,000 applicants, including ex-footballers and Olympians
Citigroup received over 3,000 applications for its new graduate programme in the Spanish city of Malaga — a sign the bank’s…
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A ‘summer of pain’? The Nasdaq Composite could plunge 75% from peak, S&P 500 skid 45% from its top, warns Guggenheim’s Scott Minerd.
The carnage playing out in the U.S. stock market on Wednesday is likely an amuse-bouche compared with the devastation on…
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Societe Generale chief executive Frédéric Oudéa to step down next year
Frédéric Oudéa, chief executive of French bank Societe Generale, is set to step down from the bank next year, calling…
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How the crypto crash exposes the hollowness of its libertarian promise
To its advocates, cryptocurrency is, at its heart, a libertarian project to free mankind from the shackles of government —…
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Meet the 24-year-old who quit hedge fund Citadel to get rich in blockchain network Terra. Two months later, ‘there is no Terra anymore’
At the start of 2022, Neel Somani was a quantitative research analyst working at Citadel, billionaire Ken Griffin’s powerhouse hedge-fund…
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JPMorgan chief Jamie Dimon has $50m bonus rejected by shareholders
JPMorgan Chase shareholders objected to a roughly $50m retention bonus for chief executive Jamie Dimon and voted against the bank’s compensation…
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Hedge funds to crypto traders: ‘Told you it was a bubble’
Investors are being bombarded from all angles. Covid continues, inflation is rampant, war rages in Ukraine, and tech stocks are…
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Here’s what just happened that triggers stock market drops 71% of the time, warns Credit Suisse
Wall Street’s in an unusually bullish mood Tuesday morning. Tim Holland, chief investment officer at Orion Advisor Solutions, argues the…
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Which of Buffett’s bank stocks might make you the most money?
This is the time of the quarter when investors get to see what changes Warren Buffett and the management team…
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Schroders’ hunt for climate experts shows newest front in ESG talent war
Asset managers are on the hunt for experts who can help them meet their ambitious net-zero emissions targets — and are willing…
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Nomura to launch new firm to scale up offerings in crypto, DeFi and NFTs
Nomura said it is launching a new digital assets company to provide its institutional clients with crypto trading services. The new…
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Barclays investment bank vice chair Mark Astaire quits industry after 35 years
Barclays’ vice chairman of investment banking in Europe is leaving the sector after 35 years in the latest change in…
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Goldman Sachs reports fewer Black leaders in US offices
The number of senior Black employees at Goldman Sachs in the US shrunk last year, as large investment banks face challenges to…
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Creator of TerraUSD plans to overhaul cryptocurrency
The price of the stablecoin TerraUSD was down sharply on 16 May as the cryptocurrency’s creator announced a plan to…
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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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15 stocks that have fallen at least 33% but by these measures are still standouts in their sectors
During a year in which more than half of the stocks in the S&P 500 Index have declined 10% or…
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Crypto prices are moving in lockstep with traditional markets — here’s what that means for investors
Cryptocurrency prices are moving in lockstep with stocks and bonds like never before, punishing those who bought bitcoin and other…
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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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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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How More Than $1 Trillion of Crypto Vanished in Just Six Months
Traders’ flight from risky investments has halved the price of bitcoin and other cryptocurrencies, wiping out more than $1 trillion…
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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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