C&E Industry News Filter
- Finance
Crypto is ‘like the Wild West’, top US regulator says
The Securities and Exchange Commission will police cryptocurrency markets to the maximum extent possible, chairman Gary Gensler said Tuesday, repeating his…
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HSBC’s investment bank slumps 23% as fixed income trading boom fades
The division housing HSBC’s investment bank slumped by 23% in the second quarter, amid a sharp drop in trading revenue…
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Hunt for top bankers echoes 2007: ‘They’re hiring indiscriminately and at prices I don’t understand’
Ill-timed hiring restrictions in 2020 are coming back to bite banks during this year’s unprecedented deal boom — creating a fierce battle…
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Harder. Better. Faster. Stronger: Has the FCA cracked its enforcement troubles?
Tough times call for a tough regulator. Is that how the financial services sector describes the Financial Conduct Authority, as…
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KKR’s second-quarter earnings almost double in boom start to the year
KKR has reported a big jump in second-quarter earnings and hauled in a record amount of new cash from investors, as the value…
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Liberum hires How to fill role left by new chief executive
City investment bank Liberum has hired a senior dealmaker to fill the role exited by Bidhi Bhoma, who was promoted to…
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EY in $10m settlement over SEC’s bid violations probe
Ernst & Young LLP will pay $10m to settle a regulatory investigation into allegations that it improperly obtained confidential information…
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Fuel-Efficiency Standards Are Set to Get Tougher. The Question Is by How Much.
WASHINGTON—The Biden administration is expected to announce stricter fuel-efficiency standards for new cars and light trucks as early as this…
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Global regulator wants fintechs to face tougher rules like banks
Calls are growing louder to impose more stringent regulation on technology giants that spill over into financial services. A paper…
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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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Elon Musk is done with regular earnings calls. Why that might be good news for investors.
Elon Musk says he is done with regular appearances on earnings calls. Tesla and its investors should be thankful. Musk…
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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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Investors in collapsed Woodford fund face further wait as asset sale drags on
The administrator overseeing Neil Woodford’s former Equity Income fund has said there are just £124m of assets left to be sold,…
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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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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…
Read More » - Tech
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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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Siemens CEO Roland Busch on combining the real and digital worlds
It has become a cliché to observe that the pandemic has accelerated existing trends across a wide range of industries.…
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Barclays names new capital markets leaders in latest shake-up
Barclays promoted a swathe of senior capital markets bankers as the UK lender continues to reshape the top of its…
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The collapse of Archegos shows how important it is to understand data
Extreme liquidity, combined with high levels of market volatility and high-tech valuations, can make a lethal cocktail. The collapse of…
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FCA puts size limit on UK Spacs as investors are in line for greater protections
Investors must be allowed to exit a special purpose acquisition company early if it wants to benefit from a smoother regulatory…
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Revealed: The best-performing ESG funds you’ve never heard of
Asset managers are scrambling to launch funds to tap into growing investor demand for sustainable investments. At the same time,…
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Credit Suisse hires Goldman Sachs executive Wildermuth as new chief risk officer
Credit Suisse has tapped a Goldman Sachs executive as its next chief risk officer as the Swiss bank continues to…
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Bankers now face compliance crackdown over Covid rule breaches
Compliance rules have always been a headache for City workers. During the pandemic, they are becoming a nightmare. Texts about…
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Tether executives facing federal criminal probe; reports
Executives at Tether International, the company that issues the digital currency tether , are facing a federal criminal probe into…
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JPMorgan names UBS’s Novak as head of shareholder engagement in Europe
JPMorgan has hired a senior dealmaker to lead its activism defence team in Europe, poaching from UBS for the role.…
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