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Competition watchdog faces post-Brexit staffing crisis as auditors call for stress tests
The Competition and Markets Authority is struggling to recruit specialists in the wake of Brexit, a new report by the…
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City influencers celebrate Financial News’ 25th anniversary
Some of the highest-profile names in the City gathered to mark 25 years of Financial News on 17 May. From…
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Richemont FY22 Sales EUR19.18B
By Joshua Kirby Compagnie Financiere Richemont AG on Friday posted strong sales growth and profitability for fiscal 2022, despite geopolitical…
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Cannabis investors suffer comedown as high-flying pot funds shrink 45%
The high around cannabis stocks appears to have faded, with funds in the global sector reporting a sharp drop in inflows and woeful…
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SpaceX paid $250,000 to settle sexual misconduct claim against Elon Musk: report
SpaceX paid a flight attendant $250,000 in 2018 to settle a sexual misconduct claim against Elon Musk, its founder and…
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U.S. House approves bill to take aim at gasoline ‘price gouging’
A closely divided U.S. House approved legislation Thursday to crack down on alleged price gouging by oil companies as prices…
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Boeing Gets Good News: It Flipped an Airbus Customer
A Boeing 737 MAX 10 airliner. Ellen Banner-Pool/Getty Images British Airways parent International Consolidated Airlines gave Boeing investors some good…
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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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Cisco stock heads for worst day in more than a decade as China shutdown blamed for poor outlook
Cisco Systems Inc. shares were on track for their worst day in more than a decade Thursday, as analysts voiced…
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Senate votes against advancing $48 billion aid package for restaurants, other businesses
The Senate on Thursday voted against a motion to proceed on a $48 billion aid package aimed at restaurants, gyms,…
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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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Bavarian Nordic shares surge on order for monkeypox vaccine amid Europe outbreaks; one case in the U.S
Shares of a Danish pharmaceutical group surged on Thursday after the company received an order for its vaccine to treat…
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Brookfield Asset Management makes £4bn swoop for HomeServe
Brookfield Asset Management has agreed to buy London-listed repair services company HomeServe in a £4bn deal. The Canadian alternative investment giant…
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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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Cisco Rings a Worrisome Bell
Cisco Systems CSCO -4.43% is nothing if not reliable. Rare disappointments tend to be painful. The tech heavyweight known best…
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Axa IM eyes launch of new private markets business
Axa Investment Managers, the €864bn fund management unit of the French insurance group, plans to establish a new business unit…
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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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BlackRock, Vanguard could see voting power curbed as lawmakers line up new rules
A group of Republican senators is looking to curtail the power big asset managers like BlackRock and Vanguard have over public companies.…
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Cyber Insurers Raise Rates Amid a Surge in Costly Hacks
Insurers significantly increased premiums for cyber coverage over the course of 2021, as a string of high-profile attacks and government…
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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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Cisco stock plunges more than 15% as China lockdown, uncertainty weigh on outlook
Cisco Systems Inc. shares plunged in the extended session Wednesday after the tech bellwether’s revenue and forecast fell well short…
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Under Armour CEO Patrik Frisk steps down after two-plus years
Under Armour Inc. announced Wednesday afternoon that its chief executive is stepping down, a little more than two years after…
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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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Elon Musk’s Twitter Bot Problem Is Fake News
With his professed concern about fake accounts on Twitter, TWTR -2.79% Elon Musk appears to be grasping at legal straws…
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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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White House to hold COVID briefing led by new response coordinator Jha, after U.S. official death toll passes one million
Just hours after the official U.S. COVID-19 death toll passed the one million mark, the White House is planning to…
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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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Schroders eyes some embattled Faangs as tech names approach value stock territory
The sell-off that has wiped more than $1tn from the market value of the world’s technology giants could see some…
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AMC discloses large passive investment in National CineMedia
Shares of National CineMedia Inc. soared Wednesday, after movie theater operator AMC Entertainment Holdings Inc. disclosed that it acquired a…
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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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Ex-Dechert partner leaked client info to SFO, court finds
Eurasian Natural Resources Corporation has succeeded in a claim against the Serious Fraud Office and law firm Dechert in a…
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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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Meet the man behind the UK sanctions regime
“It feels a little bit like on variety TV shows years ago. You had those people who spin plates, and…
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DOJ sues casino mogul Steve Wynn for failing to register as agent for China
WASHINGTON — The Justice Department sued longtime Las Vegas casino mogul Steve Wynn on Tuesday to compel him to register…
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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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Anthem Looks to Fuel AI Efforts With Petabytes of Synthetic Data
Anthem Inc.’s chief information officer says he is working with Alphabet Inc.’s Google Cloud to create a synthetic data platform…
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Private equity’s newest target: Your pension fund
Buyout bosses are eyeing up a vast pool of potential capital in the pensions sector. They are hoping to gain…
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Allianz subsidiary takes $6bn hit after pleading guilty to securities fraud
One of Allianz’s US investing divisions pleaded guilty and agreed to pay more than $6bn in penalties and restitution for a scheme…
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U.S. retail sales climb in April in a sign economy still has vigor
The numbers: Sales at U.S. retailers rose a solid 0.9% in April and signaled the economy still has plenty of…
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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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Dow jumps over 300 points after retail sales data as investors await Fed’s Powell
U.S. stocks were in bounce mode Tuesday as retail sales for April suggested the economy remained healthy and investors awaited…
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Tech Giants Want to Own Your Summer Vacation
One thing not in short supply right now are product announcements in the online travel sector. Over the past two…
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KPMG fined £14m and ex-partner faces 15-year ban over forging documents in Carillion probe
KPMG is set to receive a £14.4m fine and one of its ex-partners is facing a 15-year ban from the…
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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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BlackRock, Franklin and Polar tech funds hit as rout wipes 30% off investor holdings
Some of Europe’s largest technology funds are nursing losses of more than 30% this year, as a brutal sell-off across the sector drags…
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Elon Musk says Twitter deal ‘cannot move forward’ without more data on spam bots
“This deal cannot move forward until he does.” That was Elon Musk in an early Tuesday tweet, where the Tesla…
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