financial news this week
- Finance
Greensill Capital planning insolvency amid deal talks with Apollo
Embattled financial startup Greensill Capital plans to file for insolvency in the UK this week, as it simultaneously moved toward…
Read More » - Finance
Deutsche Bank shakes-up junior recruitment to diversify from MBA hires
Deutsche Bank is overhauling the way it hires junior bankers, expanding jobs typically reserved for elite MBAs to professionals with…
Read More » - Finance
10% GDP growth? The U.S. economy is on fire, and is about to get stoked even more
Restaurant workers wearing faceshields, facemasks and gloves prepare food at the reopening of iconic LA restaurant Pink’s Hot Dogs on…
Read More » - Finance
Return-to-Office Plans Are Set in Motion, but Virus Uncertainty Remains
A year and a pandemic ago, over 100,000 people filled the central business district in Charlotte, N.C., pouring out of…
Read More » - Finance
Here’s what UK fintech says the Kalifa Review got wrong
On 26 February, the long-awaited Kalifa Review of the UK fintech sector landed to great fanfare. Authored by former Worldpay…
Read More » - Finance
Biden Gains Two Key Economic Advisers
WASHINGTON — The Senate confirmed two key members of President Biden’s economic team on Tuesday, ushering in Gina Raimondo, the…
Read More » - Finance
Slow vaccine rollout in Canada expected to be a drag on economic recovery
Breadcrumb Trail Links News Economy ‘We will be looking at a greater number of business closures … the longer the…
Read More » - Finance
City hedge fund manager’s suicide indicative of wider sector Covid stress
A hedge fund manager who took his own life last year was experiencing high stress amid a tough time for…
Read More » - Finance
Fed policy changes could be coming in response to bond market turmoil, economists say
Joggers pass the Marriner S. Eccles Federal Reserve building in Washington, D.C., on Tuesday, Aug. 18, 2020. Erin Scott |…
Read More » - Finance
Amazon Workers’ Union Drive Reaches Far Beyond Alabama
Players from the National Football League were among the first to voice their support. Then came Stacey Abrams, the Democratic…
Read More » - Finance
Almost a quarter of companies will be net zero by 2030, say Fidelity analysts
Analysts working at investment giant Fidelity International, the $706bn asset manager, predict almost a quarter of all the companies they…
Read More » - Finance
Covid-19 is causing a ‘shecession’ as pandemic impacts gender equality at work
The pandemic is causing a “shecession”, as progress for women in work falls back to 2017 levels, a PwC report…
Read More » - Finance
An apprenticeship FAQ: What employers need to know about talent development
Technologies such as automation and artificial intelligence are influencing jobs and workflows across every major industry. However, businesses that want…
Read More » - Finance
Execs at City watchdog FCA face pay cuts amid fallout from LCF collapse
The City watchdog’s executive committee members face pay and bonus cuts as part of the fallout from the collapse of…
Read More » - Finance
Six cases of Brazil variant detected in the UK: Here’s what you need to know
The UK’s health officials are desperately trying to locate an individual who was infected with a strand of the coronavirus…
Read More » - Finance
Timeline of the collapse of London Capital & Finance
The ramifications of the now-collapsed mini-bond investment firm London Capital & Finance are still being felt across the City. As…
Read More » - Finance
Klarna valued at $31bn after Swedish fintech raises $1bn from funding round
Swedish payments giant Klarna has closed a fresh $1bn financing round, pushing the company’s valuation up to $31bn ahead of…
Read More » - Finance
Here’s how bitcoin could become the preferred unit for global trading, says Citigroup
Bitcoin has reached a “tipping point” that could see it either be adopted as the preferred currency for international trade…
Read More » - Finance
HSBC cuts staff and shakes up executives in London equities unit
HSBC is overhauling its equities trading unit in London, cutting jobs and shifting senior UK-based staff to Paris or Hong…
Read More » - Finance
Credit Suisse explores ways to reduce links to Greensill Capital over Gupta exposure
Credit Suisse Group is looking at ways to reduce ties to Greensill Capital over concerns about the specialty finance firm’s…
Read More » - Finance
Barclays ECM exec Febrer-Bowen lands new role weeks after retirement
The former head of continental European equity capital markets at Barclays has secured a new role leading corporate development at…
Read More » - Finance
Kalifa Review: All you need to know about the UK’s 106-page fintech report
Greater government oversight, hand-holding by regulators and a £1bn growth capital fund must be considered at pace if the UK…
Read More » - Finance
Trading Places: HSBC’s big shake-up, BofA reshuffles M&A, a brutal bonus season
HSBC has named a number of new senior leaders in Europe, the US and the Middle East as the lender…
Read More » - Finance
Jupiter assets reach new record, despite investors pulling £4bn
Jupiter Fund Management suffered net outflows of £4bn last year, despite the FTSE 250 group posting an increase in profits and a…
Read More » - Finance
JPMorgan CFO Jennifer Piepszak says investment banking fees could be up 30% on Q1 2020
Investment banking fees at JPMorgan in the first quarter are likely to be up over 30% on the same period…
Read More » - Finance
Covid has ravaged the UK’s finances — can Chancellor Rishi Sunak fix this?
Balancing the UK’s fiscal policies over the next year will be an unforgettable challenge for Chancellor Rishi Sunak. The keeper…
Read More » - Finance
Alberta’s financial crisis deepens with $115.8B in debt despite prospects of higher oil prices
Breadcrumb Trail Links News Energy Economy Commodities Alberta’s payments to service ballooning debt exceeds corporate taxes Author of the article:…
Read More » - Finance
Biden’s Pick for Trade Representative Promises Break With Past Policy
WASHINGTON — Katherine Tai, President Biden’s pick for United States trade representative, promised lawmakers during her confirmation hearing on Thursday…
Read More » - Finance
Why the Bank of England needs a monetary framework review to keep policy at the frontier
The Bank of England has built an enviable reputation as a central bank at the forefront of modern policymaking. This…
Read More » - Finance
‘We would have to resist very firmly’: BoE’s Bailey braces for €84tn Brexit battle for London’s derivatives crown
The Bank of England governor Andrew Bailey issued a warning about how the Brexit battle for London’s financial crown could…
Read More » - Finance
We need to do more to attract IPOs to London
Let’s be frank with each other: London’s enduring success as a global financial centre reaches well beyond any of the…
Read More » - Finance
City watchdog beefs up exec team for post-Brexit leadership
The UK’s Financial Conduct Authority made several new hires to its executive team as part of efforts to navigate a landscape dominated…
Read More » - Finance
KPMG fires starting gun on chief executive election post Bill Michael exit
KPMG UK has kicked off the race to succeed Bill Michael as chief executive after he resigned over a backlash…
Read More » - Finance
Pay slashed for StanChart chief Bill Winters amid missed targets, 40% profit drop
Standard Chartered has announced a dividend and share buyback scheme amid falling profit, along with a cut to the chief executive’s…
Read More » - Finance
Goldman Sachs boss David Solomon slams WFH as an ‘aberration’
Goldman Sachs chief executive David Solomon has sent the clearest message yet to homebound traders and investment bankers — don’t…
Read More » - Finance
AXA takes €1.5bn hit from Covid-19 claims
Insurance giant AXA took a €1.5bn hit due to claims as a result of the global pandemic that took hold…
Read More » - Finance
Citi’s Leo Arduini: ‘European players are back big time’
Leo Arduini was skiing in Italy last February when he realised just how much of a threat Covid-19 would pose…
Read More » - Finance
Here’s why London is still a favourite for the world’s richest
The wealthiest individuals in the world still have London in their sights for prime property, lifestyle and business investment options.…
Read More » - Finance
COVID-weary Canada should brace for ‘worst wave of them all’ in April
Breadcrumb Trail Links News Economy Episode 90 of Down to Business podcast Author of the article: Gabriel Friedman Publishing date:…
Read More » - Finance
HSBC plans $6bn in Asia investments as profits slump by 34%
HSBC is sticking to cost-cutting measures that will see it strip out 35,000 jobs and will invest up to $6bn…
Read More » - Finance
Lloyds resumes dividends, posts lower profit
Lloyds Banking Group said it would resume dividend payments for shareholders as it posted its annual results with £792m in pretax…
Read More » - Finance
These short sellers are making a killing in defiance of GameStop’s retail army
It’s only February, but it’s already been a rough year for short-sellers. Amid a GameStop retail army that has piled…
Read More » - Finance
Powell Focuses on Economic Need at Key Moment in Markets and Politics
The American economy remains far from healed and the Federal Reserve is in no hurry to dial back its support,…
Read More » - Finance
HSBC London bankers brace for job cuts amid Asia shift: ‘There is a lot of middle management in the UK’
Mid-ranking bankers at HSBC in London are braced for more cuts as the bank looks to shift more leadership and…
Read More » - Finance
Roadmap to lift UK’s third lockdown: Here’s the timeline plus what you can and can’t do
Prime Minister Boris Johnson has set out plans to “cautiously but irreversibly” lift the UK out of its third national lockdown,…
Read More » - Finance
Wells Fargo strikes $2bn deal to offload asset management business
Wells Fargo, the US-headquartered bank, has struck a deal to offload its asset management arm in a transaction worth $2.1bn.…
Read More » - Finance
Women in Economics Face Hostility When Presenting Research
A few years ago, the economists Alicia Sasser Modestino and Justin Wolfers sat at the back of a professional conference…
Read More » - Finance
Signal sees ‘record pace’ of new users as WhatsApp goes ahead with controversial privacy update
New users are flocking to the encrypted messaging app Signal “at a record pace”, as WhatsApp pushes forward with a controversial…
Read More » - Finance
Billionaire fund manager Alan Howard takes stake in British bitcoin startup
Billionaire hedge fund mogul Alan Howard and a selection of current and former Goldman Sachs partners are among the backers…
Read More » - Finance
EU set to allow personal data swap with UK in rare post-Brexit win for City
European policy-makers are set to allow data to continue to be transferred between the UK and the EU — a welcome…
Read More »
