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Biden administration issues targeted new eviction moratorium
The Biden administration is issuing a new eviction moratorium in the wake of criticism from liberal lawmakers after a previous…
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Lazard joins larger investment bank rivals with junior pay hike
Independent investment bank Lazard has increased salaries for junior bankers as smaller firms follow bulge bracket rivals with six-figure starting…
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Apple’s Advertising Business Is Bigger Than You Think. It Could Get Bigger Still.
Advertising is gradually becoming a material contributor to Apple’s revenue base. Elijah Nouvelage/AFP via Getty Images Apple’s move to kill…
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Biden to make fresh plea for the unvaccinated to get their shots after CDC raises alarm on delta variant of COVID-19
President Joe Biden will address Americans again on Tuesday with a fresh plea for unvaccinated people to get their shots…
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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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New York City mandates vaccination for access to restaurants, gyms and other indoor venues
New York City will soon require proof of COVID-19 vaccinations for indoor activities, Mayor Bill de Blasio announced Tuesday, making…
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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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U.S. stocks trade slightly higher as investors assess earnings, COVID worries
U.S. stocks were back on the rise Tuesday as investors assessed corporate earnings and grappled with concerns over how the…
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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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Marvell To Acquire Networking Chip Startup Innovium For $1.1 billion
Marvell Technology plans to acquire networking chip startup Innovium for $1.1 billion. The deal is a bid to capture a…
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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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Credit Suisse hires Tarda from HSBC to head fintech investment banking
Credit Suisse has hired a new global co-head of fintech investment banking as the Swiss bank looks to rebuild its…
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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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Utilities Eye Mini Nuclear Reactors as Climate Concerns Grow
U.S. utilities are looking to miniature nuclear reactors, as they seek a steady energy source that can help reduce the…
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Semiconductor stocks are rallying — and they still look like bargains
Semiconductor stocks haven’t risen in a straight line this year, but they have recovered from their last dip in May.…
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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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Square posts upbeat profits while also announcing $29 billion deal for Afterpay
Square Inc.’s surprise release of its quarterly earnings report Sunday was its second-biggest news of the night, behind the announcement…
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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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Dow futures climb nearly 200 points to kick off August trade
U.S. stock futures advanced on Monday, as investors eyed progress on an infrastructure bill, merger activity and a sign that…
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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…
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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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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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New COVID-19 cases in Florida break single-day record
ORLANDO, Fla. (AP) — Florida reported 21,683 new cases of COVID-19, the state’s highest one-day total since the start of…
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CDC data show 74% of people who tested positive for the virus in Massachusetts outbreak were fully vaccinated
A federal investigation into a COVID-19 outbreak earlier this month in a Massachusetts county that’s home to Cape Cod found…
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‘It feels like we are getting hit by a train’: Florida’s coronavirus cases jumped 50% this week
FORT LAUDERDALE, Fla. (AP) — Florida’s coronavirus cases jumped 50% this week, the state Health Department reported Friday, continuing a…
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Walmart requires that headquarters staff be vaccinated against COVID-19 by Oct. 4, while Disney gives workers at all U.S. locations 60 days
NEW YORK (AP) — Walmart is requiring that all workers at its headquarters as well as its managers who travel…
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Trump told Justice Department officials to declare election results ‘corrupt’ and ‘leave the rest to me and the [Republican] Congressmen’: contemporaneous notes
WASHINGTON (AP) — President Donald Trump urged senior Justice Department officials to declare the 2020 election results “corrupt” in a…
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CDC expected to release data that informed reconsideration of face masks, says delta variant of COVID means the ‘war has changed’
The Centers for Disease Control and Prevention is expected to release data later Friday about the spread of the delta…
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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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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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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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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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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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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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