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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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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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Japanese bank MUFG unveils hybrid working scheme for European staff
Japanese bank MUFG is rolling out hybrid working for its staff in Europe after nearly 100% of its employees in…
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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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Chancellor Rishi Sunak says ‘gradual’ return to the office is now up to businesses to figure out
Chancellor Rishi Sunak has called for a “gradual” return to the office, which businesses will have to work out. “We’ve stopped saying…
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Maersk Lifts Guidance as Supply Chain Bottlenecks Send Freight Rates Surging
By Dominic Chopping A.P. Moeller-Maersk AS late Monday lifted its full-year guidance and announced strong preliminary second-quarter earnings after seeing…
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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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City bankers brace for lockdowns to return by year-end
The country is back open, but City workers are already bracing for some parts of it to slam back shut…
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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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View: The Fed’s actions are speaking louder than its words
Even before it was revealed that US inflation had surged to 5.4% in June, concerns had been rising that the US…
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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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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…
Read More » - Tech
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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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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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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