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Weekly mortgage demand drops over 6% after interest rates move even higher
Climbing mortgage interest rates caused another drop in mortgage demand for both refinances and home purchases. Total application volume fell…
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Jobless claims fall again as enhanced pandemic benefits fade away
Weekly jobless claims hit another pandemic-era low last week as the elimination of enhanced benefits sent fewer people to the…
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Fidelity International and CEO Anne Richards win big in FN’s Asset Management Awards
Boutique firm Liontrust picked up the prestigious Asset Manager of the Year gong in the Financial News Asset Management Awards 2021, as…
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Evergrande Group averts default with overdue interest payment to bondholders
China Evergrande Group made an overdue interest payment to international bondholders, the state-owned Securities Times reported on 22 October, an…
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Trading Places: BNP Paribas promotes PE banker, Nomura’s hiring spree
Private equity and junior bankers were in the spotlight this week, as investment banks reported earnings that showed they are…
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Treasury pushes for risk disclosure, tighter credit checks in buy now, pay later market
The Treasury has laid a path for tighter regulation of the buy now pay later sector, as it recommends that lenders should…
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Bitcoin miners are trying to go green but the challenge is ditching fossil fuels
Bitcoin mining has earned a bad reputation for guzzling cheap electricity in the pursuit of profit. Now bitcoin miners are…
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Embracing placemaking as a core state strategy
While local governments, developers, and communities usually lead placemaking efforts, the state of Michigan stands out for its embrace of…
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Cryptocurrency exchange FTX hits $25bn valuation in funding round
Cryptocurrency exchange FTX reached a valuation of $25bn in a new funding round that includes heavyweights from traditional finance, such…
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Finance bosses warn of more job moves as Brexit exodus ‘picks back up’
Around half of senior finance executives polled by Big Four accountancy EY expected Brexit to drive more jobs out of…
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FCA urges new rules to compel Google, Facebook to urgently tackle online fraud
The Financial Conduct Authority has called on the government to force digital platforms like Google and Facebook to prioritise investment…
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SEC slammed over approach to crypto
WASHINGTON — A Republican member of the Securities and Exchange Commission criticised the agency’s approach to regulating the cryptocurrency industry,…
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Peer rivalry drives youngsters to crypto and meme-stock craze
Youngsters are flocking to high-risk markets like cryptocurrencies because they see investing as a competition with their peers, new research suggests. Three…
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Fund bosses see ‘Darwinian forces’ spurring M&A deals
The pace of merger and acquisition activity won’t let up, say some of Europe’s top fund bosses. They predict asset managers…
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Paul Tudor Jones says inflation could be worse than feared, biggest threat to markets and society
Paul Tudor Jones Michael Nagle | Bloomberg | Getty Images Billionaire hedge fund manager Paul Tudor Jones believes that inflation is here…
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Treasury lines up tougher checks as buy now pay later crackdown imminent
The Treasury’s long-awaited consultation into the buy now, pay later market is set to arrive as soon as next week,…
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Credit Suisse admits it defrauded investors to settle Mozambique charges
Credit Suisse Group AG agreed to pay $475m and forgive $200m Mozambique owes to investors in coordinated settlements with US and European…
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BNY Mellon’s fee revenue up 8% in third quarter
Bank of New York Mellon reported a higher third-quarter profit, as a robust stock market, busy clients and new business…
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Lawyers warn of legal risks as Goldman, JPMorgan relax Covid safety in offices
Lawyers warn that City firms that opt to scrap social distancing requirements in the workplace could face a surge in employment…
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Short-seller Carson Block on GameStop, China and why a market crash could be ‘much larger, much faster’ than ever
Short-seller Carson Block, founder and chief investment officer of Muddy Waters Capital, spoke with Financial News in a Barron’s Live…
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Hungover City traders’ Friday bacon sandwich run among WFH casualties
The bacon sandwich run is a City of London ritual for hungover traders who stumble into the office late on…
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Mark Dampier: Why an army of new investors might be disappointed with markets
Mark Dampier is former research director at the FTSE 100-listed investment platform Hargreaves Lansdown, and author of Effective Investing – A…
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Ex-Linklaters managing partner Gideon Moore on life after the Magic Circle
When Linklaters managing partner Gideon Moore recorded a video to the firm announcing his departure earlier this year, he ended by…
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The City is losing talent over menopause — time to end the stigma, culture of silence
A report into the impacts of menopause on the City is urging greater support of women, and an end to…
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City of London’s ‘fundamentals’ are unchanged after Brexit, says Boris Johnson
The City of London has remained an attractive destination for bankers and financial firms to continue doing business in spite…
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Homebuilder sentiment bounces back despite ongoing supply chain problems
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, June…
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Bitcoin price soars as hype grows over futures ETF
Bitcoin prices surged over the weekend and pushed higher Monday amid expectations that an exchange-traded fund tracking futures contracts for…
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Blackstone, KKR fuel record $26bn in Wall Street fees as PE boom seen raging on
Bankrolling private equity is big business for Wall Street. The world’s biggest banks have pulled in a record $26bn in fees advising…
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Fund management chiefs say tech will drive change as pressure builds on ESG
Technology will be a key driver of change in the asset management industry over the coming years, according to senior executives,…
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Fintech frenzy to stall as talent war and Europe’s IPO slowdown hurts startups
Record levels of private and venture capital funding for European fintech companies could diminish next year as mature startups focus…
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Three trends to watch in China as the pandemic lingers and the energy crisis worsens
China was one of the first economies to bounce back from the pandemic, helped by the strength of exports, real estate and…
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Crypto is ‘here to stay’, Standard Chartered CEO says after Dimon disses bitcoin
Standard Chartered plans to go full speed ahead on cryptocurrencies in spite of an impending global regulatory crackdown on the…
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Local and national leaders must organize themselves better to build back better
Congressional negotiations continue over the size and contents of the reconciliation spending package and its relationship to the Infrastructure Investment…
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Consumer prices rise more than expected as energy costs surge
Consumer prices increased slightly more than expected in September as food and energy price increases offset declines in used cars,…
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Spac investors find stability through the chaos
Shares of special purpose acquisition companies have lost their luster for those who recently saw them as a ticket to…
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Banks on Wall Street under scrutiny over staff communications
The US Securities and Exchange Commission is reportedly probing Wall Street banks to check whether they are complying with rules on tracking their…
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A record 4.3 million workers quit their jobs in August, led by food and retail industries
Job openings declined sharply in August while hiring also fell and the level of workers quitting their jobs hit the…
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Citigroup hires van Nouhuijs to lead Benelux banking team
Citigroup has hired the former chief executive of corporate and institutional banking at ABN Amro to lead its advisory team…
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JPMorgan’s Jamie Dimon on when the shortage crisis will end, and why bitcoin is ‘worthless’
Daily headlines point to a shortage of goods all over the world, amid escalating fuel prices and limited supply. But…
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After Evergrande: China’s property developers face ‘darkest hour’ before dawn
Property developers in China are facing their toughest hours on the back of the Evergrande crisis, but the market can’t…
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Bank profits may plateau past the pandemic showing up core weaknesses
Banks are moving past the pandemic that sent quarterly profits on a wild ride. That is drawing attention to their…
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Credit Suisse delays report into Greensill following police raid
Credit Suisse has delayed the release of findings from a report into the collapse of $10bn in investment funds it…
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Nearly 30% of traders are back in the office full-time, says Deutsche Bank
Nearly 30% of sales and trading staff are now working from the office full-time — a 12 percentage point jump…
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There Is Shadow Inflation Taking Place All Around Us
Inflation has surged in 2021, with various official measurements of consumer prices rising faster than they have in years. But…
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UBS boss looks to streamline tech function in digital push
UBS chief executive Ralph Hamers is mulling a streamlining of the bank’s IT function, as he says the bank can…
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Linklaters hikes junior salaries to £107,500 to leapfrog Magic Circle rivals
Linklaters has hiked salaries for its newly qualified lawyers to £107,500, pulling away from its Magic Circle rivals in the pay…
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City broker Peel Hunt eyes EU and US growth after £112m London IPO
City broker and mid-market investment bank Peel Hunt will be opening a new office on the continent after Brexit, expanding…
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Boston, AlixPartners consultants poached by Ankura in UK restructuring push
US consulting firm Ankura has hired a string of heavyweight practitioners to make a push into the UK restructuring market.…
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City still divided over the benefits of the green investment boom
For some time, senior City folk have been saying that the hoped-for surge in green investment will not only be…
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Grant Thornton fined £4m for audit failure at Patisserie Valerie
Grant Thornton has been fined £4m and severely reprimanded by the audit watchdog for failing to spot allegedly fraudulent accounting…
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