cnbc news
- Finance
Home prices broke records in May, according to S&P Case-Shiller
A “For Sale” sign is seen in front of a home on May 30, 2019 in Miami, Florida. Joe Raedle…
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Standard Chartered scraps academic bar in bid to attract diverse apprentice pool
Standard Chartered is offering a route into a front line investment banking job for those from lower socioeconomic backgrounds by scrapping…
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Housing boom is over as new home sales fall to pandemic low
Sales of newly built homes dropped in June to the lowest level since the early days of the coronavirus pandemic…
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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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Return to Office Hits a Snag: Young Resisters
David Gross, an executive at a New York-based advertising agency, convened the troops over Zoom this month to deliver a…
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Redundancies spike ninefold for senior managers in financial services on back of Brexit
A nine-fold increase in senior manager redundancies at financial services firms is down to Brexit, as UK companies restructured in the…
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Starling Bank makes first acquisition with £50m deal for mortgage lender
Starling Bank agreed to acquire a buy-to-let specialist mortgage lender in a £50m deal, marking the fintech firm’s first acquisition…
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Central bankers need to be put in their place as their sphere of influence grows
In the Forbes list of the World’s Most Powerful People for 2012, Ben Bernanke, then the chair of the US Federal…
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Credit Suisse sheds investment banking market share as Barclays looks to drive up ranks
Barclays recently overtook Credit Suisse in investment banking revenue, a sign that the UK bank’s long, frustrated push to be a major player…
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The rapid growth the U.S. economy has seen is about to hit a wall
A National Park Service worker replaces a flag at the Washington Monument which reopened today following a six month closure…
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Will a government venture capital fund really help private investors?
It is hard to overstate how far the European venture capital industry has come since the turn of the millennium. Although…
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For Airlines, It’s Looking More Like 2019 Again
The aviation recovery is gaining momentum. A summer travel bonanza is exceeding expectations, helping airlines earn profits again and brightening the…
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Goldman loses European dealmaker as boutiques circle prestige banks
Goldman Sachs executive director Benjamin Rouach is set to join boutique advisory firm Fenchurch, Financial News has learned. Rouach will start…
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The FCA planned to double its Scottish workforce by now. Here’s why it missed its target
Headcount in the Financial Conduct Authority’s Scottish office jumped by only 18% in the two years after the watchdog’s 2019…
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Rising Rents Threaten to Prop Up Inflation
Kaitlin Cindrich is facing a $200 monthly increase in rent this August if she and her husband can renew their…
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80-hour weeks are a must to rise in banking, JPMorgan exec says
Wall Street’s reputation for burning out junior staff with 80-hour-plus weeks is worth it so that bankers can master the profession sooner…
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Will the City return to normal? Natwest’s chairman doesn’t think so
The days of thousands of staffers piling into City offices are well behind us as a result of the pandemic,…
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Europe investors yank €14bn from Russell, Aviva and M&G funds
Investors pulled billions from funds managed by Russell Investments, Aviva Investors and M&G during the first half of the year,…
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Housing, alcohol and weed: Canadians’ pandemic spending habits are changing how inflation is measured
Breadcrumb Trail Links News Economy Overhaul could bolster confidence in a number some say has little relationship with everyday life…
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‘We fought the pandemic in the most costly way’: The huge economic and social toll from governments’ failure to prepare
Breadcrumb Trail Links Retail & Marketing News Economy Episode 111 of Down to Business podcast Author of the article: Gabriel…
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Ashurst partner profit smashes £1m for first time since financial crisis
City law firm Ashurst has unveiled average partner profits of more than £1m for the first time since 2008 on…
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UBS targets women-only hedge funds with new portfolio launch
The world of hedge funds is one that is well-known to be male dominated. Now, UBS is looking to spot…
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Christophe Roupie: ‘Brexit does make life a bit more difficult’
MarketAxess could be said to have had a good pandemic. As the Covid-19 crisis ripped through financial markets and forced…
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Credit Suisse’s Brechner jumps to Citi as dealmaker exodus continues
Citigroup has hired a senior dealmaker from Credit Suisse to bolster its M&A team in Europe, the latest departure from…
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London ranks top for European IPOs in bumper start to 2021
The London Stock Exchange has clung on to its title as the top performing European exchange for IPOs, despite a…
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Peppa Pig has American kids hamming it up with British accents
California kindergartner Dani stunned her parents in May when she addressed her mom, who said she was going to the…
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Lawmakers and accountants lobby for solid crypto accounting rules
Accountants and lawmakers are urging standard-setters to fill a void and write concrete rules telling companies how to account for…
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Italy’s luxury house brand Zegna to go public via US Spac
Italian luxury house Ermenegildo Zegna will go public on the New York Stock Exchange later this year as part of…
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Postmortem: Macklem’s new dashboard
Breadcrumb Trail Links News Economy Financial Post columnist Kevin Carmichael, editor of the FP Economy newsletter, unpacks the week in…
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Morgan Stanley dealmakers shine as fixed-income trading slips by 45%
Morgan Stanley’s dealmakers helped offset a decline in trading revenues as its fixed income unit slipped by 45% in the…
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The Euro 2020 final moved stock prices because sport makes us irrational investors
The Italian stock market rose last Monday while the UK stock market fell. Italy’s FTSE MIB index rose 0.92% on the day, while the…
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Pandemic hits gender pay gap reporting as 76% miss original deadline
Only a quarter of companies met the initial deadline to report their gender pay gaps this year, as the pandemic forced…
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UK holds Europe’s financial top spot as Asia makes gains
The UK has held its place as Europe’s top financial centre, but Asian hubs are catching up fast, according to…
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Hancock: ‘I knew Cummings wanted me fired’
Matt Hancock knew that Dominic Cummings wanted him fired during the pandemic, the health secretary told MPs. Appearing before a committee tasked…
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More than a third of UK remote workers fear bosses’ spyware
Around 40% of UK workers worry about their bosses spying on them whilst the work from home, according to a new…
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Bank of America names senior bankers to lead new ESG group
Bank of America has named two of its most senior bankers in Europe to lead a new group focused on environmental,…
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Jamie Dimon predicts return to pre-Covid working by September
JPMorgan boss Jamie Dimon said the idea of hybrid working has been “blown out of proportion” and that the working…
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AllianzGI hires Maisonneuve as global equities CIO
Allianz Global Investors, the €598bn asset manager, has named Virginie Maisonneuve as global chief investment officer for equities. Maisonneuve, who…
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Elon Musk has ‘no role’ in council of bitcoin miners
Tesla billionaire and cryptocurrency advocate Elon Musk is no longer involved with an industry group of bitcoin miners that he…
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Trading Places: Goldman’s loss is Rothchild’s gain, moves at Lombard Odier and Allianz
Rothschild is set to score a prized Goldman Sachs dealmaker, Financial News learned. John Brennan was one of 13 London-based individuals…
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Regulators tell banks it is time to start using SOFR and ditch Libor
Regulators are ramping up efforts to end Libor trades by the end of the year. The Commodity Futures Trading Commission…
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IHS Markit’s Lance Uggla: ‘The phone rang — it was S&P Global’
Towards the end of last year, Lance Uggla was on the verge of striking the biggest deal of his career.…
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View: The City and politicians have always been tied at the hip. That’s why the lobbying scandal missed the point
Sir James Dyson is texting Boris Johnson. Lex Grensill is holidaying with David Cameron. Matt Hancock owns shares in a…
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Banks should do more to combat online scams that spiked during pandemic
Banks are not doing enough to combat the spike in online scams and frauds that followed the coronavirus lockdown, the…
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Morgan Stanley boss James Gorman hints at widespread office return
Morgan Stanley chief executive James Gorman has said that the bank’s employees will do their work “inside Morgan Stanley offices”,…
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Crypto outflows surge for second week running, Coinshares reports
Digital asset investment products faced a second consecutive week of outflows totalling $21m, with ether representing more than 50% of…
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UK will not break from EU rules ‘for the sake of it’, top negotiator says
The UK is not going to diverge from EU regulation “for the sake of it”, one of the top officials…
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Former Deloitte boss set to chair Starling Bank
Former Deloitte UK chief executive David Sproul is set to become the new chairman of challenger bank Starling. Sproul, who…
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EU blocks US banks from working on major bond programme
The European Union excluded some of the world’s largest banks from working on a huge new debt-issuance programme, citing recent…
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Invesco star fund manager duo to retire from fixed income team
Two star fixed income managers are set to leave Invesco at the end of the year, ending a partnership spanning more…
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