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Goldman Sachs hikes junior banker pay to $110,000 as salary battle sweeps Wall Street
Goldman Sachs is raising salaries for junior bankers, following the vast majority of its main rivals as Wall Street’s focus on burnout…
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Boom time for the City’s law firms as deals drive record profits and pay
The City’s legal market is running white hot, if figures coming out of its leading lights are anything to go…
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Top Credit Suisse investor backs board after scathing Archegos report
One of the largest shareholders in Credit Suisse has their reaffirmed support for senior executives at the Swiss lender, despite…
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Schroders CEO says he won’t chase M&A at any cost: ‘Culture is hard to get right’
The chief executive of Schroders says he’s not prepared to compromise on culture in order to strike a transformative fund…
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Square bags $29bn deal for Afterpay as fintechs fight banks in payments sector
Square has agreed to acquire Afterpay in an all-stock deal worth around $29bn, illustrating how financial technology companies are seeking scale to challenge…
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Jefferies tells staff to get Covid-19 jab before coming back to the office
Jefferies will only allow employees back into its offices if they have been vaccinated against Covid-19, as executives raise concerns…
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City banker bonus cap may be lifted in post-Brexit revamp
A limit placed on bankers’ bonuses may be scrapped by the government as part of its plans to make the…
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Should office returners be paid more? Goldman Sachs looks at the future of hybrid working
Firms could end up hiking pay for employees who have to come into the office every day, according to a Goldman…
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Fidelity pledges 45% of board roles to be held by women by 2024
Fidelity International pledged to bolster the number of women in senior roles across its business over the next three years…
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Looking for Love Post-Lockdown? Niche Dating Apps Are the Next Big Thing
AFTER A LONG and lonely lockdown, Theresa Causa was ready for love. To find it, the 40-year-old nurse practitioner in…
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Amazon Hit With Record EU Privacy Fine
Amazon.com Inc. has been fined 746 million euros, equivalent to $887 million, by a European Union privacy regulator for violations…
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Let It Go? Disney Princess Culture Isn’t Toxic, Study Finds
Many parents find themselves in the middle of the Great Princess Debate at some point. For years, scholars have suggested…
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Behind the Rise of U.S. Solar Power, a Mountain of Chinese Coal
Solar panel installations are surging in the U.S. and Europe as Western countries seek to cut their reliance on fossil…
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Binance rolls back European derivatives business
Binance, the world’s largest cryptocurrency exchange, will cease offering futures and derivatives products to investors in some European countries amid…
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Damning Archegos report slams ‘lackadaisical’ attitude to risk at Credit Suisse
Credit Suisse’s $5.5bn loss from the collapse of family office Archegos Capital was down to a “fundamental failure of management”…
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Lazard CEO Jacobs set for 12 star dealmaker hires amid record second quarter
Lazard is continuing to hire senior dealmakers amid an M&A boom that has pushed the independent investment bank to a record…
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Credit Suisse M&A fees slide by 34% amid dealmaker exodus
Credit Suisse’s M&A revenues tumbled by 34% in the second quarter as the Swiss bank battled to stem an exodus…
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Monzo faces FCA scrutiny over financial crime controls
Monzo has warned for the second consecutive year that there is “material uncertainty” over whether it can turn a profit…
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Trading Places: Credit Suisse nabs Goldman risk boss; Barclays’ overhaul rages on
As Credit Suisse continues to reel from scandal, the bank tapped a Goldman Sachs executive as its next chief risk…
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Freshfields profit per partner gains to almost £2m in wake of Magic Circle pandemic boom
Freshfields Bruckhaus Deringer has become the latest major law firm to report a jump in revenue and profit as the City’s legal sector…
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Credit Suisse made deep cuts to risk team ahead of Archegos collapse
Credit Suisse had just a single senior risk manager in its US prime services division last year as the bank…
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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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NatWest Swung to 2Q Pretax Profit, Resumes Dividend, to Launch GBP750 Mln Share Buyback — Update
By Sabela Ojea NatWest Group PLC on Friday reported a swing to a pretax profit ahead of market views for…
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German Economy Grew at Slower-Than-Expected Pace in 2Q
By Maria Martinez Germany’s economy grew in the second quarter, according to a first estimate published Friday by the Federal…
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BNP Paribas equities trading revenues double as push continues
BNP Paribas’ ongoing push into equities trading led to a record quarter for the unit, but its investment bank revenues still…
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IAG 2Q Passenger Capacity 21.9% of 2019
By Anthony O. Goriainoff International Consolidated Airlines Group SA said Friday that its net loss narrowed for the first half…
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Investors call for vote on companies’ climate change plans
A group of more than 50 asset managers is calling for companies to disclose details of their progress on tackling…
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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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Jupiter’s Bonham Carter on why he’s sceptical about Spacs
City fund management veteran Edward Bonham Carter has called into question the investor benefits of so-called special purpose acquisition companies,…
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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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AB InBev 2Q Total Organic Volume Grew 21%
By Adria Calatayud Anheuser-Busch InBev SA said Thursday that net profit for the second quarter rose sharply as sales exceeded…
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Q&A: Inside EToro’s Spac plans
The Spac boom might be fading away, but trading platform EToro has high hopes that going public through a blank-cheque…
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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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Nokia Raises FY Sales Guidance
By Dominic Chopping Nokia Corp. on Thursday posted a forecast-beating rise in second-quarter net profit and raised guidance, driven by…
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Barclays unveils new M&A leaders in Europe as shake-up continues
Barclays named new leaders of its European mergers and acquisitions team in Europe, the latest shake-up at the UK lender’s…
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Barclays dealmakers post record quarter despite sharp fall in fixed income trading
Barclays investment bankers posted a record quarter despite a 40% slump in fixed income trading revenues as fees surged during…
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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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Nestle 1H Sales CHF41.76B
By Giulia Petroni Nestle SA said Thursday that net profit rose in the first half and raised its full-year organic…
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Ex-Lanistar staff allege bullying, sexism, and a ‘loser’s table’ for missing targets
Staff at celebrity-promoted fintech startup Lanistar were routinely sexually harassed and bullied over the past year, according to the accounts…
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Hire ‘poor, hungry kids’ instead of ‘entitled’ grads to solve banker talent crisis, Xavier Rolet says
Investment banks should hire “poor, hungry” graduates if they want to stave off a crisis among junior bankers, which are rebelling…
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Boeing Stock Is Jumping After a Surprise Profit. Here’s What’s Behind Its ‘Shocking Beat. ‘
A Boeing 737 MAX 10 airliner. Ellen Banner-Pool/Getty Images Commercial aerospace giant Boeing reported a surprise profit for the second…
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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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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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Can Robinhood thread the needle for a winning IPO?
Initial public offerings can be a little bit like politics: a decent outcome may be when everyone is only a…
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Evercore hikes pay by 33% amid record M&A boom
Boutique investment bank Evercore has posted record revenues for the second quarter as the industry’s $60bn fee haul during the…
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FCA looks to force companies to explain board-level diversity
The City watchdog has launched a consultation on changes to its listing rules which would require companies to publish “comply…
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Deutsche Bank doubles M&A fees as it sidesteps fixed income trading slump
Deutsche Bank dodged the second quarter fixed income trading slump, with revenues shrinking by 11% as fees from mergers and…
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‘Queen’s bank’ Coutts in bid to boost ethical credentials
The Queen’s bank is the latest lender to join the push towards ethical finance. Coutts has secured B Corp status,…
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Adecco to Buy France’s AKKA Technologies in EUR2 Bln Deal
By Olivia Bugault Adecco Group AG said Wednesday that it will acquire engineering R&D services provider AKKA Technologies SE at…
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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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