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- Finance
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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Spacs in the UK? Everything you need to know about Lord Hill’s IPO and listing review
Lord Hill’s review of the UK’s listing regime has recommended a series of reforms aimed at making the UK a…
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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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Credit Suisse spotted early signs of trouble brewing at Greensill Capital
Credit Suisse Group knew since 2019 that supply-chain finance funds it ran with Greensill Capital were too reliant on a…
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Budget tax hike threatens plan for City post -Brexit fightback
Imagine you are the European boss of a US financial firm based in Canary Wharf. Post Brexit you are wrestling…
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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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City of London Corporation launches fleet of electric bin lorries
The City of London Corporation will run a full fleet of electric refuse collection vehicles. In a 4 March statement,…
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Here’s what City firms make of the Budget
UK Chancellor Rishi Sunak has delivered a budget that he said is designed to “protect jobs and the livelihoods of…
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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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Deliveroo picks London for $7bn IPO
Food delivery company Deliveroo has chosen London for its initial public offering. In a 4 March press release, the firm…
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Budget 2021: Corporation tax will bite most profitable UK companies
Chancellor Rishi Sunak’s move to raise corporation tax to 25% from 19% by 2023 has been greeted with resigned acceptance…
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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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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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Budget 2021: UK economy will grow 4%
The UK’s economy is expected to grow 4% in 2021 and regain its pre-pandemic level in the second quarter of…
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Budget 2021: Five key takeaways for the City
The Chancellor of the Exchequer Rishi Sunak has delivered his Budget for 2021, announcing a raft of changes to ensure…
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Budget 2021: Sunak urges Bank of England to think ‘creatively’ to boost City post Brexit
Chancellor Rishi Sunak has asked the Bank of England to think “creatively” in ensuring the UK’s financial services industry remains…
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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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Regulators monitor Greensill as financier scrambles to sell core parts of business
Pressure mounted on embattled SoftBank Group-backed Greensill Capital as it scrambled to sell core parts of its business and regulators…
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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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Making the City best for business is more important than trade deals
The dramatic migration of share trading from London to Amsterdam and the foot-dragging by Brussels over granting UK access to…
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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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JPMorgan to opt for ‘carrots and sticks’ approach to vaccine, says CEO Jamie Dimon
JPMorgan will not make a Covid-19 vaccination mandatory but will take a “carrots and sticks” approach to vaccines and the…
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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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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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Covid-19 is causing a ‘shecession’ as pandemic impacts gender equality at work
The pandemic is causing a “shecession”, as progress for women in work falls back to 2017 levels, a PwC report…
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WSJ News Exclusive | Oil Trade Group Is Poised to Endorse Carbon Pricing
WASHINGTON—The oil industry’s top lobbying group is preparing to endorse setting a price on carbon emissions in what would be…
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Softbank agrees $1.6bn settlement with ex-WeWork boss Adam Neumann, others
Softbank has announced it has reached a $1.6bn settlement to a lawsuit brought against it by ex-WeWork chief executive Adam…
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EU plans Covid-19 digital passport in time for summer
The EU will propose Covid-19 passports to facilitate travel within the bloc later this month in time for the summer,…
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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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Over 60s to start receiving jabs as Brazil variant hunt continues
Over 60s are now being invited to receive the coronavirus vaccine, health secretary Matt Hancock has said, as a hunt…
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Execs at City watchdog FCA face pay cuts amid fallout from LCF collapse
The City watchdog’s executive committee members face pay and bonus cuts as part of the fallout from the collapse of…
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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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