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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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Abbott, FDA reach deal to resume making baby formula at U.S. plant amid shortage
Abbott Laboratories and the Food and Drug Administration reached a deal Monday to restart production of baby formula at a…
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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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Linklaters rolls out global menopause policy for staff
Law firm Linklaters has set out a global menopause policy to provide support for employees going through it, raise awareness…
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Apollo pushes into funds for wealthy investors
Apollo Global Management said it will release a slate of funds designed for individual investors, making it the latest alternative-asset…
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U.S. productivity falls at fastest pace since 1947 and unit-labor costs soar
The numbers: The productivity of American workers and businesses sank at an 7.5% annual pace in the first quarter —…
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Facebook Struggles With E-Commerce as Meta Looks to Revamp its Ads Business
Facebook FB -0.42% parent Meta Platforms Inc. FB -0.42% developed e-commerce services in 2020 as people shopped more from home…
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Apple Suppliers Given Priority for Factory Restarts in Shanghai Region
Suppliers to Apple Inc. AAPL -2.17% are among the businesses taking precedence in local governments’ efforts to restart factories in…
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Robinhood sales drop 43% as users leave
Robinhood’s revenue fell to $299m in the first quarter, a decline of 43% from the same period last year and the…
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How Gilead is positioning Veklury against COVID-19 antivirals like Paxlovid
Gilead Sciences Inc. GILD, -0.29% has steadily expanded the use of Veklury while much of the nation’s attention has shifted…
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CNN+ Streaming Service Is Shutting Down a Month After Launching
CNN is shutting down its direct-to-consumer streaming service CNN+ about a month after it launched, a remarkably fast reversal that…
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New Lithium-Extraction Technology Attracts Investors. But Is It Viable?
Lithium is a key component of rechargeable batteries, and developing domestic supply is seen as an important step in a…
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Madison Avenue Loves the Idea of a Netflix With Ads
The advertising industry welcomed Netflix Inc.’s NFLX -35.12% decision to explore offering a lower-priced ad-supported version of its service, a…
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China’s economy exceeds expectations, expands 4.8% in Q1
BEIJING — China’s economy expanded 4.8% from a year earlier in the first three months of the year, beating market…
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UBS hikes pay for Wall Street analysts to $110,000
UBS has hiked salaries for its junior bankers for the second time in a year, bringing it in line with…
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FCA and competition watchdog among regulators charged with open banking oversight
A new committee of regulators including the Financial Conduct Authority and the Competition and Markets Authority will oversee how open…
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Schroders teams up with Lloyd’s of London for new investment platform
Schroders Solutions, a new division unveiled by the UK-listed asset manager last month, has partnered with Lloyd’s of London to…
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Ogier to launch in Ireland with Leman deal as Dublin heats up post-Brexit
Offshore law firm Ogier is set to enter an Irish legal market that has boomed since Brexit by taking over Dublin firm…
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City competition review pushed back again as firms face further investigation
The Competition and Markets Authority has extended its review into suspected anti-competitive arrangements in the City again, as firms face the prospect…
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BlackRock’s iShares boss says the firm is in no hurry to launch crypto ETFs
One of BlackRock’s top executives has ruled out an imminent foray into crypto exchange traded funds, citing an “opaque” regulatory…
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PwC and Microsoft partner on digital banking cloud solution
Audit firm PwC launched a new digital banking solution as part of its ongoing partnership with tech giant Microsoft. The product, which…
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Investment advisers ‘extremely skeptical’ about first U.S. bitcoin ETF: ‘It’s a hard thing for RIAs to recommend an inferior’ crypto product
Happy Sunday! Welcome to the penultimate installment of Need to Know Crypto Edition, ahead of the launch of a new…
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Here’s what JPMorgan’s new UK digital challenger is going to look like
JPMorgan is to launch its digital banking challenger brand Chase in the UK on 21 September, after years of secretive…
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Ex-Wise employees raise $10m to build Europe’s answer to Robinhood
Two former employees of British fintech firm Wise have raised $10m to fund Europe’s answer to Robinhood, bringing on board…
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Morgan Stanley launches recruitment programme to improve Black and gender diversity
Morgan Stanley has launched a new recruitment programme aimed at hiring more Black and female candidates with experience outside of…
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Revolut plans 2021 credit card launch in bid to crack US market
Revolut intends to launch a credit card for its US users as soon as the end of this year, as…
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Crypto will replace traditional currency in 10 years, City firms say
More than three quarters of UK financial services firms predict digital assets will replace fiat currencies in the next five…
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McDonald’s ran out of milkshakes in the U.K.
LONDON (AP) — McDonald’s MCD, +0.13% says it has pulled milkshakes from the menu in all 1,250 of its British…
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Why Jump’s retail move to pull in the likes of the Reddit army could be a hit
The move by Jump Trading Group to launch a new business unit to execute stock orders on behalf of retail investors…
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Guess which Spac Leonardo DiCaprio and Orlando Bloom invested in?
Sustainability-focused financial technology firm Aspiration Partners is going public through a deal with a special-purpose acquisition company that would value…
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Former LSE boss Xavier Rolet unveils new $200m Spac
The former chief executive of the London Stock Exchange, Xavier Rolet, is leading a new blank cheque vehicle that counts…
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Argo Blockchain co-founder launches London IPO of new crypto company
A co-founder of Bitcoin mining company Argo Blockchain is set to launch the initial public offering of a new crypto…
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