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- Finance
Robinhood rolls out IRAs to target buy-and-hold crowd
Robinhood said on 6 December it will start offering retirement accounts, in a plan to convince the next generation of…
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The Fintech Files: Kraken’s ‘savage’ layoffs, more trouble for crypto hedge funds
Staff at Kraken have become the latest victims of the crypto winter after the US-based exchange announced 1,100 job cuts.…
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Government hits back at ‘race to the bottom’ claims as battle over future of City rules rages on
Chief secretary to the Treasury John Glen has hit back at critics of the government’s ‘Big Bang 2.0’ plans for…
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Bank of America CEO says dealmaker fees down by up to 60% in fourth quarter
Bank of America chief executive, Brian Moynihan, said that investment banking fees at the bank will slide by up to 60%…
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Robinhood to offer retirement accounts to users who love long-shot bets on risky assets
Robinhood said on 6 December it will start offering retirement accounts, in a plan to convince the next generation of…
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Goldman Sachs CEO David Solomon says banker talent war is ‘as strong as ever’ despite cuts
Goldman Sachs chief executive David Solomon said that the job market for bankers is “surprisingly tight” and that the bank…
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‘It was savage’: Kraken’s crypto staff slam ‘cold’ redundancies
Staff laid off by crypto giant Kraken say they only learned of their redundancies when they were locked out of…
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Italian Economy Expected to Slow Sharply in 2023 as Inflation Takes Toll
By Xavier Fontdegloria Italy’s economy is expected to decelerate sharply in 2023 due to high inflation, slowing international trade flows…
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JPMorgan hires Deutsche, UBS and BNP Paribas trio for mid-market push
JPMorgan has hired a trio of dealmakers for a unit that targets deals in the mid-market. Thibaud de Maria has…
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Jefferies executives warn staff of ‘difficult’ year for bonuses
Jefferies executives have warned staff that 2022 will be a “difficult compensation season” as investment banks prepare to cut variable…
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What Celsius Network’s bankruptcy case means for other failed crypto platforms
The judge overseeing Celsius Network’s bankruptcy case is expected to decide if the crypto firm has full ownership rights over…
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Former Barclays boss Bob Diamond ends Spac tie-up with crypto firm Circle
A blank cheque company headed by former Barclays boss, Bob Diamond, has called off its planned merger with crypto firm…
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LSE’s voluntary carbon market makes debut listing
Launched back in October, the London Stock Exchange’s voluntary carbon market has listed its first fund. Foresight Sustainable Forestry, an…
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Fintech Files: BlockFi bust, ex-Celsius directors tell all, Tory super-crypto donor does it again
Just when you thought crypto couldn’t get more chaotic, another firm has filed for bankruptcy — lender BlockFi. The firm was one of…
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Kirkland & Ellis partners face nervous wait on pay, promotions
Kirkland & Ellis partners are facing a nervous few weeks as they wait to hear their fates on pay and…
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FTX’s bankruptcy triggers global squabbles over ownership and control of crypto firm’s assets
The collapse of cryptocurrency exchange FTX has opened a hornet’s nest of squabbles between foreign governments and its new US chief executive,…
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Activist who called for Credit Suisse break-up says latest overhaul isn’t enough
An activist investor who called for Credit Suisse’s break-up five years ago said that the Swiss bank’s new overhaul “barely scratches…
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Alantra recruits ex-Jupiter HR head as hiring spree continues
Mid-market investment bank Alantra has hired a veteran human resources professional to lead a global recruitment push from London as…
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Saudi prince sets sights on Credit Suisse spinoff
Saudi Arabia’s crown prince and a US private-equity firm run by Barclays’ former chief executive are among investors preparing to invest…
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The unbearable uselessness of crypto
Andrés Velasco, a former presidential candidate and finance minister of Chile, is dean of the School of Public Policy at…
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Credit Suisse loses secondary-advisory executive to Baird
One of the most senior secondary private equity bankers at Credit Suisse has left the investment bank, according to several…
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Ex-Competition and Markets Authority boss faces conflicts ban as he takes consultancy job
The recently departed chief executive of the UK’s competition watchdog has been told he is not allowed to lobby the…
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Blackstone stops redemptions from real estate fund as stock slides
Blackstone shares took a big hit after the investing giant’s real-estate fund aimed at wealthy individuals said it would limit redemptions.…
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Ex-Goldman Sachs MD Adam Iqbal joins Capstone as portfolio manager
Hedge fund Capstone Investment Advisors has hired Goldman Sachs managing director Adam Iqbal to strengthen its portfolio management team. Iqbal,…
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FTX’s Sam Bankman-Fried says he didn’t know scale of bad Alameda bets
Sam Bankman-Fried said that he didn’t intend to commit any fraud or use customer funds to back leveraged bets that…
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Credit Suisse’s comeback plan hasn’t won over investors yet
Credit Suisse $4.2bn share sale and sweeping restructuring were supposed to regain the market’s confidence. Instead, more investors are betting against the bank.…
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Blackstone sells stake in MGM Grand, Mandalay Bay as Las Vegas icons valued at $5.5bn
Blackstone has agreed to sell its 49.9% stake in two Las Vegas hotels in a deal that values the properties at…
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There are 50 million people in modern slavery – the City ‘can and should do more’
The City must step up to tackle modern slavery, according to leading campaigners, amid warnings that the UK government is failing to…
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Why overstaffed teams and bad attitudes mean junior banker jobs are under threat
At the height of the 2008 financial crisis when banks fired tens of thousands of staff, junior bankers who were…
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TP ICAP registers crypto trading arm with UK regulator
London-based broker TP ICAP has become the latest institutional finance firm to get its crypto offering registered with the Financial…
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Pension fund heavyweights plan private markets boost to beat stagflation
Heavyweight pension funds plan to ramp up their exposure to private markets, global equities and thematic investments, as major players seek…
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‘Grow up,’ ex-Celsius directors warn crypto as BlockFi joins bankruptcy club
Two former directors of the collapsed crypto lender Celsius Network have a warning for digital assets firms wishing to avoid…
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Why early Alameda staff quit over Sam Bankman-Fried’s approach to risk
Years before Sam Bankman-Fried’s crypto empire collapsed, a group of employees quit in a power struggle — after becoming concerned about…
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Julius Baer hit with £18m fine over Russia dealings
UK regulators fined Swiss private bank Julius Baer more than £18m for improper dealings with Russian companies dating back more…
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Eurozone Inflation Eased in November as Energy Price Rises Slowed
By Maria Martinez Inflation in the eurozone eased in November, due to a deceleration in energy price rises. The consumer…
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Jupiter agrees performance fee cut on Chrysalis trust after managers’ payouts slammed
Performance fees charged by the well-known Chrysalis investment trust have been slashed after its managers came under criticism last year for the size…
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BNP Paribas eyes move into private credit as leveraged lending dries up
BNP Paribas is eyeing a move into private credit, which could provide an alternative source of funding for major M&A deals as traditional…
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Apollo poaches new chief pensions strategist from state government
Connecticut state treasurer Shawn Wooden is joining Apollo Global Management as a partner and chief public pension strategist to help…
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UBS veteran Mark Lewisohn departs after 33 years at the Swiss bank
A 33-year veteran of UBS is leaving the bank, in the latest senior departure from its UK dealmaking team. Mark Lewisohn,…
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London Metal Exchange fights back against nickel lawsuits: ‘The market had become disorderly’
The London Metal Exchange has defended its decision to cancel billions of dollars worth of nickel trades earlier this year…
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FTSE Russell launches first crypto-based index series
FTSE Russell has launched its first index series covering the digital asset market. The firm said it had worked with crypto…
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KPMG plans £5.5m post-Covid office makeover for 1,200 Manchester staff
KPMG UK is investing £5.5m in an overhaul of its Manchester office aimed at boosting collaborative working. The firm said…
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Bridgepoint mulls $1bn deal for energy investment firm
Bridgepoint Group in London said it is evaluating a possible bid for Energy Capital Partners, commenting after a report that the…
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Why the wealthy will have to play their part in stopping the next pandemic
Mariana Mazzucato, professor in the economics of innovation and public value at University College London, is founding director of the…
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Meet the 21 Goldman Sachs partners to make the cut in Europe
Goldman Sachs has named its largest partner class for eight years and its most diverse ever as the US banking…
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Deutsche Bank CEO calls on regulators to loosen rules that ‘structurally disadvantage’ European banks
Deutsche Bank chief executive Christian Sewing has called on politicians and regulators to overhaul rules that “structurally disadvantage” European banks against…
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Meet Goldman Sachs’ first Bangladeshi partner as US bank aims to diversify upper ranks
Goldman Sachs promoted a record number of non-whites and women to its elite ranks in its largest partner class for…
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Hedge funds shift to decentralised platforms after FTX collapse
Hedge funds are increasingly turning towards private wallets and self-custody after FTX’s collapse showed up the risk of relying on…
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BlockFi files for bankruptcy as crypto rout claims latest victim
Cryptocurrency lender BlockFi filed for bankruptcy on 28 November, making it the latest major digital assets company to fail since…
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The Fintech Files: Fidelity cashes in on crypto mayhem, Cunliffe calls for regulation, FTX bankruptcy latest
The collapse of Sam Bankman-Fried’s FTX has shattered confidence in the crypto sector and, in some people’s eyes, presented it…
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