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- Finance
The Fintech Files: Kraken’s ‘savage’ layoffs, more trouble for crypto hedge funds
Staff at Kraken have become the latest victims of the crypto winter after the US-based exchange announced 1,100 job cuts.…
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‘It was savage’: Kraken’s crypto staff slam ‘cold’ redundancies
Staff laid off by crypto giant Kraken say they only learned of their redundancies when they were locked out of…
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JPMorgan hires Deutsche, UBS and BNP Paribas trio for mid-market push
JPMorgan has hired a trio of dealmakers for a unit that targets deals in the mid-market. Thibaud de Maria has…
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Jefferies executives warn staff of ‘difficult’ year for bonuses
Jefferies executives have warned staff that 2022 will be a “difficult compensation season” as investment banks prepare to cut variable…
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‘Gaslighters have two signature moves’: Are you being gaslighted at work? How to recognize the signs.
Are you less happy at work since you befriended that new recruit? Have they told you stories about how colleagues…
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Kirkland & Ellis partners face nervous wait on pay, promotions
Kirkland & Ellis partners are facing a nervous few weeks as they wait to hear their fates on pay and…
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Alantra recruits ex-Jupiter HR head as hiring spree continues
Mid-market investment bank Alantra has hired a veteran human resources professional to lead a global recruitment push from London as…
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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. 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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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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U.S. private-sector job growth slows to lowest level since early 2021, ADP
The numbers: Private payrolls rose by 127,000 in November, according to the payroll services firm ADP on Wednesday. It is…
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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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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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‘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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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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Litigation funder Harbour targets $400m war chest to invest in legal cases
Harbour Litigation Funding is gearing up to raise a new $400m fund to invest in legal cases. The litigation finance…
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U.S. jobless claims jump to 240,000, highest since August
The numbers: Initial jobless benefit claims rose by 17,000 to 240,000 in the week ended November 19, the U.S. Labor…
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5 things not to buy on Black Friday
It’s a year for shopping prudently. Americans will spend between $942.6 billion and $960.4 billion this holiday season, according to…
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Schroders’ Kimberley Lewis: ‘There is some discomfort talking about race in the UK’
Asset management was not my first career choice. I started my working life as a lawyer in the US, where…
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Amazon Looks to Sparrow to Carry its Robotics Ambitions
WESTBOROUGH, MASS. — In a brightly lighted warehouse tucked along an industrial road about 45 minutes east of Boston, a…
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Credit Suisse hands out $300m in retention bonuses to keep dealmakers
Credit Suisse handed out nearly $300m in retention bonuses to dealmakers during the third quarter of 2022 — more than…
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Credit Suisse plans to cut 450 frontline jobs at its European investment bank
Credit Suisse’s European operations are set to bear the brunt of front-office job cuts as the Swiss bank prepares to cut around…
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Amazon CEO says more layoffs are coming in 2023
Amazon.com Inc. plans more layoffs, but employees will have to wait until 2023 to see if their jobs are affected.…
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Goldman Sachs names 80 partners – here are the names
Goldman Sachs has promoted 80 to partner, a coveted senior role at the US banking giant that comes with a…
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Black Friday surprise: Jeff Bezos tells people NOT to buy cars, refrigerators and other big-ticket items. Critics call him out.
Billionaire Jeff Bezos, who founded the e-retail behemoth Amazon, has some spending tips as Americans gear up for a holiday…
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Evercore hires Lazard’s Richard Hoyle in UK expansion
Boutique investment bank Evercore has bolstered its London operation by hiring a senior dealmaker from rival Lazard. Richard Hoyle is…
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U.S. jobless claims dip to 220,000 but layoffs are starting to rise
The numbers: The number of Americans who applied for unemployment benefits in mid-November fell slightly to 222,000 — a low…
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Deutsche Bank wants to outrank European rivals in dealmaking push
Three years on from a radical overhaul of its business, Deutsche Bank is eyeing an investment banking revival that will…
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Starbucks workers at more than 100 stores going on strike
Starbucks workers at more than 100 U.S. stores say they’re going on strike Thursday in what would be the largest…
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US law firm Boies Schiller plots London hires to meet ‘booming’ demand for litigation work
US law firm Boies Schiller Flexner is recruiting lawyers to staff the surging demand it is seeing for litigation work…
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Alvarez & Marsal hires ex-Lloyds heavyweight to bolster financial services unit
Former Lloyds Banking Group senior executive Adrian Walker has joined professional services firm Alvarez & Marsal to strengthen its financial…
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Chris Hohn’s TCI urges Google parent Alphabet to review staff numbers and take ‘aggressive action’ slash costs
Activist hedge fund TCI Fund Management called on Google parent Alphabet to aggressively cut costs and reduce losses in long-term bets…
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Morgan Stanley boss James Gorman: ‘We’re looking at head count’
Morgan Stanley chief executive James Gorman said the marquee investment bank is studying potential job cuts as the latest big…
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Law firms under pressure to cut jobs as cheaper rivals cash in on recession fears
Law firms are under pressure from clients to cut fees and staff headcount amid an economic slowdown and growing recession…
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Squire Patton Boggs launches in Dublin with Pinsent Masons hire
International law firm Squire Patton Boggs is launching its first office in Ireland with a hire from Pinsent Masons in…
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Credit Suisse staff cuts hit London leveraged finance and ECM teams as swingeing layoffs start
Credit Suisse is making deep cuts to its European leveraged finance and capital markets teams as the Swiss bank began…
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Fed’s Waller says market has overreacted to consumer inflation data: ‘We’ve got a long, long way to go’
Federal Reserve Gov. Christopher Waller said Sunday that financial markets seem to have overreacted to the softer-than-expected October consumer price…
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Deutsche Bank cuts dealmakers as banks battle fee slump
Deutsche Bank has cut dozens of jobs in its investment bank as firms ramp up dealmaker layoffs after a slump…
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Goldman Sachs, PwC, Schroders and more sign up to give disabled students paid work experience
A slew of top City firms have thrown their weight behind the latest initiative from diversity charity 10,000 Black Interns by offering…
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Houlihan Lokey hires Hepberger for European healthcare deals
Mid-market investment bank, Houlihan Lokey, has hired a senior dealmaker to focus on healthcare deals, bolstering a team it launched…
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London-based hedge funds still hiring despite challenging market conditions
From technology graduates to portfolio managers, London-based hedge funds are looking for top talent despite job cuts across other sectors. Brevan Howard…
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PJT Partners bolsters dealmaker pay by 12% as larger rivals cut back
Boutique investment bank PJT Partners has bolstered dealmaker compensation by 12% after a record start to the year, even as…
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Credit Suisse to slash 9,000 jobs, hive off investment bank in radical overhaul
Credit Suisse is set to cut 9,000 jobs and hive off its dealmaking unit as it unveils a radical overhaul of…
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Credit Suisse’s First Boston spin-out bets boutique pay model will keep top dealmakers
Credit Suisse’s investment bank is going back to the future. Its shift to a capital-light dealmaking unit will see the revival…
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LGIM’s Justin Onuekwusi on diversity, role models, and inclusive asset management
Justin Onuekwusi didn’t have any Black role models when he was coming up in the investment industry. The first time…
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EY UK partner pay hits record £803,000 as break-up looms
EY UK’s average partner pay has hit a record £803,000, as the firm moves towards a potential split between its…
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Goldman Sachs London banker pay slides 53% as deal fees fade
Goldman Sachs has more than halved the amount it has paid its London bankers so far in 2022, as dealmaking bonuses…
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U.S. jobless claims tick higher in latest week
The numbers: Initial jobless claims rose 7,000 to 225,000 in the week ended November 5, the U.S. Labor Department said…
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