breaking financial news
- Finance
Trading Places: Refinitiv boss steps down, Kay Swinburne’s new gig, Deutsche Bank’s Brexit moves
Refinitiv’s chief executive David Craig is to step away from his role at the London Stock Exchange Group at the…
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Police crack down on illegal crypto mine in West Midlands raid
Police investigating what they thought was a cannabis farm instead uncovered a major cryptocurrency mining operation, which was illegally siphoning…
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Ex-Fieldfisher partner faces tribunal over allegedly backdating documents
A former real estate partner at law firm Fieldfisher is facing a disciplinary tribunal after allegedly backdating documents and signing…
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Owning a cottage is becoming a pipe dream, even for Canada’s wealthy
Breadcrumb Trail Links Real Estate High Net Worth Economy Vacation spots only the ‘one per cent of the one-per-cent’ can…
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Biden’s Budget Sees Low Inflation, Rising Debt and Slow Economic Growth
WASHINGTON — President Biden’s $6 trillion budget proposal represents the largest increase in federal spending since World War II and…
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Biden to Propose $6 Trillion Budget to Make U.S. More Competitive
Mr. Biden will also express support for Congress allowing Americans as young as 60 years old to enroll in Medicare,…
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Q&A: Inside the latest cannabis company listing
The week after the firm became one of the first weed companies to list in London, Neil Mahapatra, founder and…
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Tougher audit standards fall short on fraud, shareholder group says
Tougher new standards for auditors to detect fraud are a “mixed bag”, shareholder advisory group Pirc has said. The Financial…
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Jefferies fast-tracks junior bankers amid burnout and battle for talent
US investment bank Jefferies is promoting its juniors faster, in line with some of its Wall Street rivals, as the…
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FRC not ‘strong enough’ to prevent corporate failure, CEO says
The Financial Reporting Council was not “strong enough” to tackle business and audit scandals that have provoked soul-searching in the…
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Downing Street sidesteps questions on whether PM planned to sack Hancock
The prime minister’s spokesperson has declined to deny that Boris Johnson contemplated firing health secretary Matt Hancock in early 2020…
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Archegos wipes off $6bn from top banks’ stock trading units in first quarter
The implosion of family office Archegos Capital wiped off more than $6bn from the world’s largest investment banks’ equities business,…
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ENRC case against Dechert and SFO ‘the stuff of conspiracy theories’, lawyers claim
A case brought by mining company Eurasian Natural Resources Corporation against Dechert and one of its ex-partners is the “stuff of…
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US banking chiefs to urge need for controls in cryptocurrency sector
The chief executives of major US banks including Citigroup and Bank of America have expressed their caution about cryptocurrencies in written…
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MPs await FCA update on Woodford probe as deadline looms
The Financial Conduct Authority is under mounting pressure to provide an update on its ongoing probe into the collapse of…
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UK should leverage Brexit to lead global crypto rules, says City lobby
Brexit poses a “valuable opportunity” for UK policymakers to get ahead of global rivals in regulating cryptoassets, according to a…
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Hedge funds look to ramp up crypto exposure as institutional interest grows
Nearly nine in 10 hedge funds are looking to up their investments in cryptocurrency before the end of the year,…
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Trainee brokers can no longer make cold calls at BofA’s Merrill Lynch
Bank of America’s Merrill Lynch Wealth Management unit is banning trainee brokers from making cold calls, a vestige of an…
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Don’t be a sitting duck when this stock market rally fades — here’s what you should do now
Stock investors got a dose of harsh reality earlier this month when the major US market indexes declined and took…
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Cryptocurrency prices stabilize after another wild weekend.
Over the weekend, the price of Bitcoin briefly fell to around $31,000, more than 50 percent down from its high…
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HSBC has no plans to get into crypto, boss Noel Quinn says
HSBC is staying away from the cryptocurrency trading game, despite a number of its rivals planning to enter the space.…
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ENRC opens £70m ‘leaks’ claim against SFO and Dechert in London court
Eurasian Natural Resources Corporation is set to claim that the UK’s Serious Fraud Office committed serious failures in its efforts to pursue a criminal…
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Move over porridge: Oat milk is whipping up an international frenzy and Canada is lapping it up
Breadcrumb Trail Links News Economy One of the world’s top producers Canada could cash in on the oat boom if…
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The Perilous Hunt for Coconut Crabs on a Remote Polynesian Island
We meet Adams Maihota outside his house in the dead of night. A crab hunter, he wears white plastic sandals,…
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Trading Places: UBS and Deutsche make waves
UBS hired a senior Credit Suisse dealmaker to bolster its new unit aimed at increasing collaboration between its wealth management and…
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SoftBank CEO on how the firm turned itself around
SoftBank Group chief executive Masayoshi Son has spent the past 18 months fundamentally revamping the company he created almost 40 years ago.…
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U.S. backs a 15 percent global minimum tax on big companies as it tries to enlist other countries.
The Biden administration proposed a global tax on multinational corporations of at least 15 percent in the latest round of…
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Esma appoints French regulator to oversee daily operations
The European Securities and Markets Authority has confirmed the appointment of former French regulator Natasha Cazenave to oversee the day-to-day running…
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Investors fret as auditors turn their backs on high-risk work
The UK’s audit profession is bracing for tougher rules this year, set to prevent more Carillion-style corporate collapses, but the…
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Investec pushes investment bank into Europe with Capitalmind stake
Mid-market focused investment bank Investec is expanding its dealmaking capabilities into continental Europe with a stake in boutique advisory firm…
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Covid outbreaks in Asia could hit supply chains and raise U.S. inflation, says expert
Fresh waves of Covid-19 cases in major manufacturing hubs in Asia could hit global supply chains — and that could…
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Fidelity International, JPMorgan scramble to vaccinate India staff as nation reels from Covid
Fidelity International, the $706bn asset manager, is offering to pay for Covid vaccines for its more than 3,000 staff based…
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Citigroup names Pakcan as new emerging markets chief
Citigroup has named Ebru Pakcan as head of its emerging markets business in Europe, another step in its goal to having…
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Goldman Sachs takes $20m stake in London fintech ComplyAdvantage
Goldman Sachs has invested $20m in a London-based firm which uses artificial intelligence to track financial crime across networks for…
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UK reveals vaccine booster trial programme
The UK government has funded new clinical trials to assess the potential for a number of Covid-19 booster vaccines. More than 2,800 people aged…
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Litigation funder LCM backs £250m Carillion claim against KPMG
Litigation funder Litigation Capital Management has agreed to back a £250m claim against KPMG from creditors of collapsed outsourcer Carillion. LCM will…
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Inquiry into Trump’s business turns into criminal investigation with possible bank fraud probe
The New York attorney general’s office’s investigation of former President Donald Trump’s business now has a criminal component, a spokesman…
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Square CFO Ahuja on bitcoin and how crypto investing is ‘serious, not entertainment’
Amrita Ahuja’s career route may look somewhat typical for a rising star in finance — with stints at consulting firm…
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America Is on a Road to a Better Economy. But Better for Whom?
Low-income families are starting in a much different place from where they were in the last recovery. Indeed, American households…
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‘It’s going to be the Roaring ’20s’: City venues brace for return of revelling bankers
Soren Jessen, the boss of City restaurant 1 Lombard, speaks with the confidence befitting of his former profession — a banker. “We…
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Elon Musk reveals Tesla is still holding bitcoin as crypto price crashes
Tesla boss Elon Musk has clarified that the electric vehicle manufacturer has not sold any of its bitcoin holdings, after…
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Ray Dalio: Coping with the pain of parenting a bipolar child
Billionaire hedge fund boss Ray Dalio isn’t just known for his wily investment strategies. He also counts himself among the…
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Hanock urges ‘humility’ in face of virus as Indian variant soars
Health secretary Matt Hancock has urged the country to remain “humble in the face of this virus” as latest figures…
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These stocks could fly as Europe’s Covid-19 reopening gathers pace, Goldman says
Analysts at Goldman Sachs have tipped a group of stocks to take off as Europe emerges from widespread Covid-19 lockdowns. The…
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Social media drives crowd of young investors to markets in wake of GameStop saga
Almost a fifth of Gen-Z investors have ventured into the markets over the past year, with 9% starting after the…
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Like Hockey Canada in the late ’90s, our industrial policy needs to refocus on the fundamentals
Breadcrumb Trail Links Economy Kevin Carmichael: We could be a world-beater in innovation. Instead we’re on the bench in 17th…
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Goldman’s dogecoin millionaire reveals crypto loophole for City traders
A report about a Goldman Sachs managing director who left the bank after winning big on dogecoin has ignited chats among bank…
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Bill Gates denies exit from Microsoft board over affair with staff member
Microsoft founder Bill Gates has denied his exit from the company’s board in 2020 was the result of a probe…
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The housing market is hot, but the rental market could quickly catch up as economy reopens
Breadcrumb Trail Links Real Estate News Economy Higher demand for rental housing in next few months expected to put pressure…
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SFO launches fraud probe into Gupta Family Group and its relationship with Greensill Capital
The Serious Fraud Office has announced it is investigating fraud, fraudulent trading and money laundering at the Gupta Family Group…
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