financial news this week
- Finance
Two tales of a city: How middle-class Shanghai reveals China’s unsettled future
The rapid emergence and explosive growth of the Chinese middle class is one of the world’s most stunning developments. At…
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For Clean Energy, Buy American or Buy It Quick and Cheap?
In January, Patricia Fahy, a New York State legislator, was celebrating a new development project for the Port of Albany:…
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Can central bank digital currencies and bitcoin co-exist?
Bank of England boss Andrew Bailey recently said cryptocurrencies hold no intrinsic value, and warned investors to buy them “only…
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As the U.S. economy restarts from the pandemic, parts of it are severely broken
A worker operates a forklift to move bundles of Hampton lumber for a shipment order at Burton Lumber in Salt…
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Jamie Dimon’s Zoom fatigue is a sign home-working backlash is coming
Jamie Dimon has had enough of Zoom, and he’s not the only one. The JPMorgan boss said he’s keen to…
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Junior bankers at Stifel to get a $10,000 bonus, even if they quit
Independent investment bank Stifel is offering analysts a $10,000 “appreciation” bonus, even if they have already announced their resignation, in…
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Biden urges employers to boost wages but warns workers they’ll lose unemployment pay if they reject jobs
US President Joe Biden speak about the Covid-19 response and the vaccination program in the State Dining Room of the…
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‘Stars aligning’ for boom in law firm IPOs in white hot London market
Deliveroo’s flopped IPO and concerns about restrictive listing rules in London have led to fears that the City could be…
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Should investors care about crypto? Here’s what the experts say
Cryptocurrencies have continued their meteoric rise in recent weeks, with alternative players such as ether and dogecoin gaining ground on…
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Housing mania requires tough decisions, something the government can’t be trusted to make
Breadcrumb Trail Links Economy Kevin Carmichael: Trudeau and Freeland had the chance to finally overhaul a deeply flawed housing policy.…
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No recovery without ‘she-covery’: Women bear the brunt of latest jobs decline
Breadcrumb Trail Links News Economy Two-thirds of the 500,000 jobs yet to be reclaimed are women’s Author of the article:…
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Melinda Gates started divorce talks with lawyers in 2019
The split between Bill and Melinda Gates, announced last week, has been in the works for a long time. Gates…
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KPMG sued for more than £6m by property company
KPMG has reportedly been sued for more than £6m by property company Mount Anvil, which said it was hit with…
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UK to ease restrictions from 17 May – here’s what you can and can’t do
The government has confirmed that it plans to ease Covid restrictions on 17 May. In a press conference on Monday…
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U.S. Chamber of Commerce blames weak jobs report on enhanced unemployment benefit, kicks off lobbying effort
A help wanted sign is posted at a taco stand in Solana Beach, California. Mike Blake | Reuters The largest…
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The Jobs Report: The Boom That Wasn’t
It’s a little secret of the news business that for some anticipated events, like a Supreme Court decision or the…
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FCA unveils new fund structure for illiquid assets
The UK regulator has unveiled plans for a new fund structure that would allow investors to allocate money more efficiently…
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Jobs report for April is expected to show another big gain.
Economists are expecting another big monthly jump in hiring when the Labor Department releases its April jobs report Friday morning.…
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PayPal wants customers to embrace cryptos for payment
PayPal Holdings is looking to expand its lucrative business of enabling customers to pay merchants with crypto assets, but the…
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Jamie Dimon is about to cancel all his Zoom meetings
The chief executive of JPMorgan is “done” with Zoom meetings and full-time working remotely. “I’m about to cancel all my…
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Telegraph owner Sir Frederick Barclay ordered to pay £100m in divorce proceedings
Sir Frederick Barclay has been ordered to pay his wife Lady Hiroko Barclay a total of £100m as part of divorce proceedings, newly…
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Fed officials tamp down overheating worries as nervous investors look on.
Inflation jitters are popping up in earnings call chatter, spooking investors and dominating business television talk shows. One place they…
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Ken Moelis sees banker travel slashed by two-thirds even amid ‘busiest time I’ve ever seen’
Veteran dealmaker Ken Moelis said that investment bankers could spend half the amount of time travelling in the wake of…
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Private payrolls show big gain in April but still short of lofty expectations, ADP says
Bartenders wearing protective masks assist customers sitting at the bar at Blooms Tavern in New York, U.S., on Monday, May…
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Klarna takes up WeWork space for new London office in hybrid working strategy
Payments fintech Klarna is to open a new office hub in London, opting for hot-desking magnate WeWork as it builds…
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Virgin Money secures half-year profit on slump in bad Covid-19 loans
Profit surged at challenger bank Virgin Money in the first half of its financial year, after it set aside less…
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ESG ‘fantasy’ distracts from real climate change fight, says former Blackrock insider
Breadcrumb Trail Links Transportation Renewables News FP Energy Economy Autos Episode 100 of Down to Business podcast Author of the…
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The Covid recovery still has a K shape
Cars line up to pick up food boxes at the Athens County Fairgrounds in Athens, Ohio, on Dec. 19, 2020.…
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Janet Yellen says interest rates might need to rise to keep economy from overheating.
Treasury Secretary Janet L. Yellen said higher interest rates might be needed to keep the economy from overheating given the…
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Credit Suisse chair Horta-Osorio buys $1.2m of shares amid Greensill, Archegos crises
New Credit Suisse chair Antonio Horta-Osorio has bought $1.2m of the Swiss bank’s stock. An unnamed board member bought CHF1.1m of…
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Treasury Secretary Yellen says rates may have to rise somewhat to keep economy from overheating
This is a breaking news story. Check back for updates. Treasury Secretary Janet Yellen conceded Tuesday that interest rates may…
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U.S. trade deficit surges to new record; shortfall with China keeps rising
A container ship is guided by tugboats out of the terminal at the Port of Long Beach-Port of Los Angeles…
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Billionaires and blockchain – What’s behind the rise of Ethereum?
2021 has been a wild year for ether. Thanks to several factors including a slowly progressing update to its underlying…
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Barclays to ramp up Canary Wharf and New York office numbers from June
Barclays will start ramping up employee numbers in Canary Wharf and New York from June, with the bank’s chief executive…
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Fed’s Barkin sees higher inflation this year, but then a reversal in 2022
Richmond Federal Reserve President Thomas Barkin told CNBC on Monday that he sees inflation pressures building this year that he…
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HSBC hikes junior pay and kicks off hiring spree amid deal surge
HSBC is increasing salaries for junior bankers, expanding recruitment and accelerating promotions in the latest efforts from a large investment…
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The Bank of Canada might have to tighten its messaging to allay worries about inflation
Breadcrumb Trail Links Economy Kevin Carmichael: Among the challenges is explaining why interest rates are staying near zero when inflation…
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New threats to an old problem: The pandemic has made ‘brain drain’ even worse
Breadcrumb Trail Links News Economy With physical borders closed and virtual ones open, highly skilled tech workers getting poached by…
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Half of new money went into European sustainable funds in the first quarter
Sustainable investment products have continued their winning streak, attracting half of all the new money entering European funds during the…
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New Credit Suisse chair Horta-Osorio resets agenda after Archegos, Greensill saga
Credit Suisse’s new chairman signalled a broad re-evaluation of the bank’s risk taking and said strategic changes could be in…
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Trading Places: Ex-Woodford sales head joins ETF firm, former KPMG chief exec quits and Credit Suisse risk head stands down
Simon Dale, the former head of retail at Woodford Investment Management, has joined exchange traded fund boutique HANetf to oversee…
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VCs warn City funds that stance on tech IPOs is ‘catastrophic miss’ for London
Fund managers will miss out on the UK’s next Google or Facebook if they continue to disregard the coming wave…
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Ashurst promotes 14 to partner – here are the names
City law firm Ashurst has promoted 11 women to its partnership ranks out of a total cohort of 14 new…
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Survey finds almost two thirds of bosses plan hybrid working set-ups
Two thirds of business leaders in the UK plan to adopt hybrid working — where staff split their time between…
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Senate Passes $35 Billion Water Bill, but Bigger Infrastructure Fights Loom
It remains unclear whether Democrats will agree to winnowing down the scope of the economic platform or plans to pay…
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Auto sales helped get the American economy off to a good start in 2021.
In the first months of 2021, what was good for the auto industry was decidedly good for the American economy.…
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Biden, in Georgia to Promote Economic Agenda, Visits Carter
President Biden visited former President Jimmy Carter, an old friend, as he traveled to Georgia on Thursday to pitch his…
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‘A Perfect Positive Storm’: Bonkers Dollars for Big Tech
In the Great Recession more than a decade ago, big tech companies hit a rough patch just like everyone else.…
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The Economy Is (Almost) Back. It Will Look Different Than It Used To.
The housing sector is experiencing nearly as big a surge. Residential investment was 14.4 percent above its prepandemic trend, representing…
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Consumer-fueled economy pushes GDP to 6.4% first-quarter gain
Economic activity boomed to start 2021, as widespread vaccinations and more fuel from government spending helped get the U.S. closer…
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