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Bank of America hires Goldman’s Malhotra in leverage finance leadership role
Bank of America re-hired a senior Goldman Sachs dealmaker to lead its leveraged finance origination business in Europe. Uday Malhotra…
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Robinhood suffers stock price dip after hyped IPO
Robinhood, the trading app synonymous with hot stocks, got a cold reception from investors in its own stock-market debut. The investing…
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Macklem keeping inflation expectations in check with call not to overreact, economists say
Breadcrumb Trail Links News Economy ‘The Bank of Canada was there to prevent deflation when the economy plunged. We remain…
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U.S. GDP rose 6.5% last quarter, well below expectations
The U.S. economy rose at a disappointing rate in the second quarter, the Commerce Department reported Thursday in a sign…
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Robinhood prices IPO at bottom of range on tepid demand
Robinhood priced its initial public offering at $38 a share, at the low end of expectations, after the popular trading…
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View: Why quashing Tom Hayes’ Libor conviction could spell a new era for the City
Tom Hayes stands within a whisker of rewriting his role in one of the biggest scandals to grip financial markets…
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Morgan Stanley hikes junior banker salaries to $100,000
Morgan Stanley has raised base salaries for entry-level bankers to $100,000, leaving Goldman Sachs as the last remaining Wall Street bank…
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Schroders appoints Dame Elizabeth Corley as new chair
Schroders has appointed Dame Elizabeth Corley to succeed Michael Dobson as chair of the £700bn asset manager. The firm announced that…
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Wall Street banks crush European rivals in deal boom: ‘I still bear the scars’
Wall Street banks are turning the screw on their European rivals as deal flow has hit new highs. US investment…
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Exploring the often fraught relationship between public spaces and social divides
Editor’s note: This brief is part of a three-part series which examines the economic, social, and civic impacts of public…
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Abrdn boss on why flexible working is here to stay: ‘We’ve proved remote work on a large scale can be effective’
The City is slowly stirring back to life, with the lifting of Covid restrictions in England on 19 July prompting…
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Will the Delta Variant Wreck the Recovery?
The good economic news, when it comes to the ascendant Delta variant of the coronavirus, is that it puts the…
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Credit Suisse set to issue report on Archegos errors
Credit Suisse is likely to publish an investigation as soon as Thursday into the breakdown that led to massive losses from…
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Home prices broke records in May, according to S&P Case-Shiller
A “For Sale” sign is seen in front of a home on May 30, 2019 in Miami, Florida. Joe Raedle…
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IMF warns that inflation could prove to be persistent and central banks may need to act
Customers shop for produce at a supermarket on June 10, 2021 in Chicago, Illinois. Scott Olson | Getty Images The…
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Standard Chartered scraps academic bar in bid to attract diverse apprentice pool
Standard Chartered is offering a route into a front-line investment banking job for those from lower socio-economic backgrounds by scrapping the…
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Bitcoin tumbles from $40,000 high after Amazon denies crypto plans
Cryptocurrencies lost ground after spike in momentum as e-commerce giant Amazon denied speculation that it planned to develop its own token, causing…
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Redundancies spike ninefold for senior managers in financial services on back of Brexit
A nine-fold increase in senior manager redundancies at financial services firms is down to Brexit, as UK companies restructured in the…
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Don’t let the two-dose summer fool you — there is a long battle ahead against COVID-19
Breadcrumb Trail Links News Economy Kevin Carmichael: We can’t ignore the reality that COVID has refused to let go of…
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KPMG slammed by watchdog for ‘unacceptable’ bank audit failures
Big Four accountancy firm KPMG has been criticised by the Financial Reporting Council for an “unacceptable” failure to improve its audits…
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Dimon life: Will JPMorgan boss’s bonus rub shareholders up the wrong way?
Aw, you shouldn’t have. JPMorgan Chase’s board surprised investors by giving chief executive officer Jamie Dimon 1.5 million stock options on top of…
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Barclays hires SocGen veteran Meyer as European dealmaker hiring spree continues
Barclays has hired a 23-year veteran from Societe Generale for a senior investment banking job in Europe as the UK…
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Bitcoin looks fraught as an inflation hedge amid selloff
Bitcoin’s steep selloff is undercutting the argument made by the digital currency’s proponents that it’s an inflation hedge. The original…
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Martin Gilbert-backed AssetCo takes stake in thematic ETF firm
The deals company set up by former Standard Life Aberdeen co-chief executive Martin Gilbert has acquired a 63% stake in…
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Starling Bank trims losses as Covid schemes supercharge lending
Starling Bank has trimmed its losses as the business shifted to recognise lending as its main source of income thanks…
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Credit Suisse offers pay hikes to keep senior bankers as more depart in wake of Archegos
Credit Suisse is offering pay rises of up to 30% to retain senior dealmakers who have been offered new jobs…
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Europe investors yank €14bn from Russell, Aviva and M&G funds
Investors pulled billions from funds managed by Russell Investments, Aviva Investors and M&G during the first half of the year,…
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Will Robinhood’s IPO be a boom or bust?
Robinhood Markets likes to give away free shares to attract new customers. Its public offering to investors is a different…
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Housing, alcohol and weed: Canadians’ pandemic spending habits are changing how inflation is measured
Breadcrumb Trail Links News Economy Overhaul could bolster confidence in a number some say has little relationship with everyday life…
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Senators and Biden Aides Struggle to Save Bipartisan Infrastructure Deal
WASHINGTON — Congressional negotiators and the Biden administration tried on Monday to salvage a nearly $600 billion bipartisan agreement to…
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Fidelity says 80% of investors want crypto in portfolios: ‘Regulation is coming’
Nearly eight in 10 institutional investors say that digital assets such as cryptocurrencies should form part of a portfolio, according…
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Is there a recipe for a ‘perfect business’? Stock analysts are sceptical
The idea of the “perfect business” — I was sceptical but listened to the elaboration. A perfect business requires no…
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Builders pull back as more homebuyers are priced out of the market
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S.…
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Lawmakers and accountants lobby for solid crypto accounting rules
Accountants and lawmakers are urging standard-setters to fill a void and write concrete rules telling companies how to account for…
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Apollo’s billionaire co-founder Leon Black comments on allegations of abuse
Leon Black, the billionaire co-founder of Apollo Global Management, submitted a detailed response on 19 July to a lawsuit that accused…
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UK backs Guaido in court battle over $2bn of Venezuelan gold in Bank of England
The UK government said it continues to recognise Juan Guaido as the President of Venezuela in an intervention in a…
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Robinhood aims for $35bn valuation in IPO
Robinhood Markets, the zero-commission investment app, has set terms for its much anticipated initial public offering. Robinhood said on 19 July…
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UK health secretary Sajid Javid tests positive for Covid
The UK’s new health secretary Sajid Javid has tested positive for the Covid-19 virus. In a statement posted on social network…
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Crypto and FX firm LMAX valued at $1bn after JC Flowers stake
Cryptocurrency and FX exchange LMAX Group has received a valuation of $1bn, after selling a 30% stake in the company…
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Binance abandons crypto tokens pegged to listed stocks
Cryptocurrency exchange Binance has stopped offering digital tokens tied to the value of listed equities, amid wider regulatory scrutiny of…
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View: Why Google needs to step up to stop investment scams
Where do you find your investments? Chances are that, if you’re reading this, you’re a professional and don’t need to…
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Trading Places: BlackRock’s 8% pay bump; Barclays hires JPMorgan’s Ward in trading push
As the world of finance still struggles with the fallout from the pandemic, a clear trend has emerged; big players…
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What Goldman’s international chief exec makes of Brexit, City rules and 19 July
Goldman Sachs International’s chief executive officer Richard Gnodde, would gladly take a match to unnecessary rules for the City post…
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BlackRock boosts pay for juniors and middle managers
The world’s largest money manager is set to give its junior employees up to director level an “off-cycle” pay rise “after a period…
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Tech Workers Swore Off the Bay Area. Now They’re Coming Back.
Rizal Wong, a junior associate at the tech and business communications firm Sard Verbinnen and Company, left the Bay Area…
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The Fed chair will appear again before Congress, as inflation continues to rise.
When Jerome H. Powell, the Federal Reserve chair, appears before the Senate Banking Committee on Thursday, he will be testifying…
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EU watchdog warns Spacs ‘not appropriate’ for everyone
The European Union’s markets watchdog has warned that investments in so-called blank cheque companies “may not be appropriate… for all”. The…
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Inflation? Not in Japan. And That Could Hold a Warning for the U.S.
TOKYO — In the United States, everyone is talking about inflation. The country’s reopening from the coronavirus pandemic has unleashed…
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FCA Brexit bill hits £10m as watchdog pledges not to undercut EU standards
The UK’s departure from the EU is set to cost its financial regulator some £10m in 2021/22, according to its…
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Goldman Sachs says up to 50% of staff are back in the office
Around half of Goldman Sachs employees in key locations are working regularly in the office after the US banking giant…
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