Financial Services
- Market
Stock-market crash? No, but rising bond yields are sparking a nerve-racking rotation below the surface
Never mind the hashtags, the stock market remains far from “crash” territory, as anyone with a working memory of last…
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Chipotle partners with cosmetic brand E.L.F. for a burrito-and-guac inspired makeup line
If you love guacamole, E.L.F. Beauty Inc. ELF, -3.83% has the eye shadow for you. Chipotle Mexican Grill Inc. CMG,…
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Schroders boss says Spacs will help City ’embrace new world’
Peter Harrison, chief executive of FTSE 100 listed asset manager Schroders, says proposals designed to encourage international companies to list in…
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Aviva plans to slash UK office space by up to 30% by end of 2021
UK insurer Aviva plans to cut up to 30% of its 1.7 million square feet office space across the UK.…
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FCA bans ex-Stifel trader for market abuse
The Financial Conduct Authority has banned a former Stifel Nicolaus Europe market-making trader from regulated activity and fined him £52,500…
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Schroders predicts ‘favourable environment’ for active funds as assets reach new high
Schroders posted a 15% increase in assets under management last year, cementing its position as the UK’s largest listed fund…
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Pimco adds former White House defence expert to advisory board
Pimco, the US bond giant, has appointed a former White House staffer to its influential advisory board — the second…
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Credit Suisse tells juniors to expense takeaways as deal boom makes all-nighters the norm
Investment banks are rolling out a new perk for juniors burning the midnight oil at home — free takeaways. Banks…
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KPMG UK agrees sale of restructuring unit in PE-backed management buyout
KPMG UK has agreed to sell its restructuring unit in a management buyout backed by private equity firm H.I.G. Europe.…
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Vaccine rollout helps end dry spell for UK equity fund inflows
Investment funds that invest specifically in UK-listed companies turned a corner in February, with the rapid rollout of Britain’s Covid…
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Hong Kong won’t appeal ex-JPMorgan banker bribery acquittal
The Hong Kong government won’t appeal the acquittal of an ex-JPMorgan banker accused of bribery after offering a job to…
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Wealth managers warn UK’s richest: A wealth tax is coming
Britain’s richest bankers and hedge fund managers should prepare now for the introduction of tax hits on their wealth to plug…
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The stock market’s most sensitive sector says cycle isn’t anywhere close to turning
Consumer discretionary stocks are the most sensitive to the market cycle, and right now they’re giving no indication that cycle…
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Wall Street’s 20 favorite infrastructure stocks are expected to climb as much as 34% over the next year
Getting a C-minus grade usually isn’t good news, but it promises to be just that for investors looking to capitalize…
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GAM calls time on supply chain finance fund linked to Greensill
GAM, the Switzerland headquartered asset manager, has announced it will close an investment fund linked to Greensill Capital — the…
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German watchdog orders Greensill Bank to close, halts firm’s acceptance of new payments
German regulator BaFin has slapped a ban on Greensill Bank for disposals and payments, and ordered it to close. The Federal Financial…
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Greensill Capital: How the SoftBank-backed firm ended up on the brink
Pressure is mounting on SoftBank-backed Greensill Capital after major backers signalled moves to halt trading in and out of the…
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New Citi CEO Jane Fraser unveils net-zero targets on first day at the helm
Citigroup chief executive Jane Fraser has used her first day at the helm of the US bank to unveil ambitious…
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Greensill Capital planning insolvency amid deal talks with Apollo
Embattled financial startup Greensill Capital plans to file for insolvency in the UK this week, as it simultaneously moved towards…
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Deutsche Bank shakes-up junior recruitment to diversify from MBA hires
Deutsche Bank is overhauling the way it hires junior bankers, expanding jobs typically reserved for elite MBAs to professionals with…
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Deloitte agrees to pay Malaysia $80m to settle 1MDB claims
Accountancy firm Deloitte PLT has agreed to pay the Malaysian government $80m to settle claims relating to its auditing of…
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Financial services firms move £1.3tn out of UK since Brexit vote
Financial services firms have said they have moved £1.3tn from the UK to the EU since the 2016 Brexit referendum. Data…
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Here’s what UK fintech says the Kalifa Review got wrong
On 26 February, the long-awaited Kalifa Review of the UK fintech sector landed to great fanfare. Authored by former Worldpay…
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Jon Little’s Alderwood Capital begins hunt for investors
Alderwood Capital, the fund management business launched by former Northill Capital founder Jon Little, has made a trio of hires…
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City hedge fund manager’s suicide indicative of wider sector Covid stress
A hedge fund manager who took his own life last year was experiencing high stress amid a tough time for…
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M&G pledges to end thermal coal investments
M&G, the UK-listed fund management group, will begin to phase out coal across its investments, making it the latest asset…
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25 stocks of companies backed by rapid earnings growth as the economy reopens
With the pace of new COVID-19 cases slowing, many investors expect economic growth to accelerate over the course of 2021.…
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‘Before Covid, WFH was seen as a day at the golf course’: How the pandemic changed the City forever
On a cold, wet morning on 5 March 2020 around 100 equity research analysts were ushered down a fire escape…
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The record boom in blank-cheque firms could make 2021 the year of the Spac
The boom in special purpose acquisition companies – or Spacs – is set to continue and this year looks on…
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Chairman of Alibaba’s Ant Group insists IPO is still on the cards
The head of the Chinese fintech company Ant Group, which was prevented from listing in November by the country’s central…
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Goldman Sachs creates new London team to capitalise on Spac boom
Goldman Sachs has shifted two of its most senior equity bankers in London into a new team that will look…
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FOMO driving billionaire hedge fund boss Daniel Loeb to ‘deep dive’ into cryptos?
Daniel Loeb, chief executive of hedge fund Third Point, said he has been on a “deep dive” into cryptocurrency recently…
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UK IPOs off to best start for 15 years ahead of listings review shake-up
The London Stock Exchange has had its strongest start to a year since 2016 ahead of the publication of a…
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S&P 500 scores best day gain in about 9 months, as March kicks off with brighter economic outlook
U.S. stock-market benchmarks surged Monday, with the S&P 500 booking its best day of gains since June, as a gauge…
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Almost a quarter of companies will be net zero by 2030, say Fidelity analysts
Analysts working at investment giant Fidelity International, the $706bn asset manager, predict almost a quarter of all the companies they…
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Stressed about saving for retirement? Focus on your ‘bottom line’
The cost of living is high — for some more than others — but a few changes in spending can…
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Goldman Sachs revives cryptocurrency desk to cash in on bitcoin hype
Goldman Sachs has relaunched its trading desk for cryptocurrencies as demand for bitcoin and other digital assets continues to increase.…
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Greensill Capital faces possible insolvency after Credit Suisse suspends investment funds
Greensill Capital is headed toward a rapid unraveling after Credit Suisse Group suspended $10bn of investment funds that fuelled the…
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This bank tripled negative interest-rate deposits — and expects that business to improve
The Bank of Ireland said on Monday that it tripled negative interest-rate deposits last year — and plans to further…
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Goldman Sachs asset management co-head Lane to step down
Eric Lane, the co-head of Goldman Sachs global asset management business, is stepping down six months after being appointed to…
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Klarna valued at $31bn after Swedish fintech raises $1bn from funding round
Swedish payments giant Klarna has closed a fresh $1bn financing round, pushing the company’s valuation up to $31bn ahead of…
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Credit Suisse suspends $10bn in funds tied to Greensill
Credit Suisse said it suspended a group of private investment funds tied to supply-chain finance assets created by SoftBank-backed specialty-finance company Greensill…
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Citi says Bitcoin adoption’s at tipping point – here’s what could come next
Bitcoin has reached a “tipping point” that could see it either be adopted as the preferred currency for international trade…
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Jane Fraser tasked with refreshing Citigroup
Jane Fraser wants to simplify Citigroup the original megabank. That won’t be easy. On 1 March, Fraser took over as chief executive…
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Credit Suisse explores ways to reduce links to Greensill Capital over Gupta exposure
Credit Suisse Group is looking at ways to reduce ties to Greensill Capital over concerns about the specialty finance firm’s…
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Why copper just scored its biggest monthly gain since 2016
Copper prices scored their largest monthly gain in over four years on Friday, as traders bet that a recovery by…
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GameStop saga illustrates rising ‘noise-trader risk’ that could feed market volatility, warns quantitative analyst
The wild trading saga surrounding GameStop Corp. and other meme stocks targeted by bands of individual investors ostensibly out to…
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Hedge funds slash bearish bets in GameStop aftermath: ‘Wow, this could be me’
Investors have pared back their bearish bets a full month after the GameStop frenzy took off, showing the lasting effects…
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Barclays ECM exec Febrer-Bowen lands new role weeks after retirement
The former head of continental European equity capital markets at Barclays has secured a new role leading corporate development at…
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U.S. trade deficit widens slightly in January, second highest on record
The numbers: The U.S. trade deficit in goods widened to $83.7 billion in January from a revised $83.2 billion in…
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