services
- Finance
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…
Read More » - Finance
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…
Read More » - Tech
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…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Market
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…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Market
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 —…
Read More » - Tech
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…
Read More » - Tech
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…
Read More » - Finance
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…
Read More » - Market
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…
Read More » - Business
Russia exit will cost London Stock Exchange £60 million
T urning its back on Russia will cost the London Stock Exchange Group an estimated £60 million this year, the…
Read More » - Finance
LGIM to vote against exonerating Credit Suisse board after scandals
Legal & General Investment Management will vote against absolving senior Credit Suisse executives of responsibility after a series of scandals engulfed…
Read More » - Tech
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…
Read More » - Tech
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…
Read More » - Tech
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…
Read More » - Market
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…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Finance
FCA fines GAM £9.1m over Greensill conflicts
Swiss asset manager GAM has been fined £9.1m by the UK markets watchdog over its failure to manage conflicts of…
Read More » - Finance
Credit Suisse says it has made changes to sidestep another Greensill-type disaster
Credit Suisse said on 4 April that it has made changes to the way it operates to avoid a situation…
Read More » - Finance
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…
Read More » - Finance
Grant Thornton bills £19m for first year of Greensill administration
Grant Thornton generated £19m in fees during its first year as the administrator of collapsed supply chain financer Greensill Capital,…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Finance
Square’s CFO on bitcoin, Afterpay, and where the firm goes next
Square started out in 2009 as a payment-services provider, enabling small businesses to process card payments with inexpensive white card…
Read More » - Finance
Zopa gains unicorn status as SoftBank leads $300m funding round
British digital bank Zopa is now a billion-dollar company, gaining the coveted unicorn title after raising $300m from major Japanese technology…
Read More » - Finance
Advertising watchdog orders buy-now-pay-later firm to remove ads ahead of Treasury crackdown
The UK advertising watchdog has told a buy-now-pay-later credit firm to pull down adverts that don’t explain to consumers that its…
Read More » - Market
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…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Finance
Barclays hires Credit Suisse dealmaker as European push continues
Barclays has poached a senior dealmaker from Credit Suisse to lead its industrials mergers and acquisitions unit in Europe, as…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Market
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…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Finance
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…
Read More » - Business
UK financial services group True Potential mulls $2 billion US Spac
T rue Potential, a leading UK wealth management business, is mulling a potential $2 billion “Spac” float on Wall Street…
Read More » - Finance
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…
Read More »
