Corporate/Industrial News
- Market
Fourth of July closings: Are banks and the post office open on July 4?
The Fourth of July holiday commemorating the ratification of the U.S. Declaration of Independence is this Monday, and many Americans…
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Believe it or not, gas prices have been edging down this Fourth of July — here’s why
It’s a cool breeze during a hot moment, but it’s not the summer weather. As record-breaking numbers of Americans pack…
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Trading Places: HSBC bolsters green team, Citi’s European push continues, Nutmeg boss leaves
HSBC promoted one of its top investment bankers to lead a new team of dealmakers tackling sustainable finance — a key…
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FCA strikes cancelled as Unite says union recognition back on the table
Financial Conduct Authority staff have called off planned strike action, as Unite claims that union recognition is back “on the table”.…
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Klarna valuation to be chopped to $6.5bn in fresh fundraise
Klarna is nearing a deal to raise new money at a valuation of around $6.5bn, according to people familiar with…
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Are financial markets closed July 4?
As the Independence Day holiday approaches, Americans are preparing for a long weekend of barbecues and fireworks shows to celebrate…
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Weekend reads: What’s ahead for the stock market after that brutal first half of 2022
The first half of 2022 marked a big change for investors and consumers, as inflation reared its ugly head. It…
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The U.S. bets billions of dollars on better COVID-19 boosters as it prepares for a spike in COVID-19 cases in the coming months
The U.S. is gearing up for another wave of COVID-19 infections in the fall and winter following a flurry of…
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Johnson ‘impatient’ at pace of post-Brexit Solvency II rules: report
The Bank of England and Boris Johnson are on a collision course over the future of Solvency II reforms, according…
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Leon Black rebuffed in Apollo conspiracy claim
A federal judge dismissed a case brought by former Apollo Global Management chief executive Leon Black alleging that his former partner and…
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UBS in $25m SEC settlement over complex options products
UBS agreed to pay $25m to settle fraud charges from the Securities and Exchange Commission over a complex options-trading strategy…
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Jupiter’s CEO choice draws criticism from former board member
Jupiter’s decision to appoint Matthew Beesley as its next chief executive is unlikely to “fix” the problem of its plummeting…
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Stocks could drop 50%, Nouriel Roubini argues. Things will get much worse before they get better.
NEW YORK (Project Syndicate)—The global financial and economic outlook for the year ahead has soured rapidly in recent months, with…
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Missing ‘CryptoQueen’ added to FBI’s Most Wanted list
Ruja Ignatova, the self-styled “CryptoQueen” and founder of the OneCoin crypto project, has been added to the FBI’s 10 Most…
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Nutmeg CEO steps down after JPMorgan takeover: ‘I am now taking some time out’
The boss of the UK’s largest digital wealth manager Nutmeg has stepped down following the firm’s buyout by JPMorgan. A…
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Revolut appoints new US chief to lead expansion
Revolut has appointed a new chief executive in the US as it looks to expand its operations across the Atlantic.…
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Research Affiliates CEO calls crypto a ‘Ponzi scheme,’ questions ‘substance’ of blockchain
The chief executive of California-based asset manager Research Affiliates has called cryptocurrencies a “Ponzi scheme”, claiming bitcoin and the blockchain…
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Regulators in New York eye further crypto guidance
The head of the New York State Department of Financial Services said she wants the regulator to continue to be…
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Credit Suisse bolsters compliance, plans cost cuts from technology for turnaround
Credit Suisse has hired 22 senior compliance professionals this year and bolstered headcount in the division as it looks to…
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Crypto exchange CoinFlex won’t lift withdrawal freeze yet, despite ‘significant progress’ in rescue token fundraising, CEO says
Crypto exchange CoinFlex, which has halted user withdrawals since June 23, will not lift the freeze on Thursday as originally…
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FCA probes Wise boss Kristo Kärmann after tax default
The Financial Conduct Authority has launched an investigation into Wise co-founder and CEOn Kristo Kärmann over his deliberate default on tax bills,…
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Three Arrows Capital falls into liquidation as crypto winter bites
Cryptocurrency-focused hedge fund Three Arrows Capital has gone bust, becoming one of the most prominent victims yet of the so-called…
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Celsius’ crypto faithful have a plan to avoid bankruptcy
An internal storm is brewing at crypto lender Celsius over its potential plans to file for bankruptcy, with some involved in…
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The Fintech Files: Will Celsius customers hit HODL?
Customers of the beleaguered crypto lender Celsius have had withdrawals frozen for more than two weeks – now, some involved in…
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‘Just buy somebody’: Private markets push will fail without deals, says LCM boss
The chief executive of Brookfield-backed alternatives firm LCM Partners says asset managers pushing into private markets will fail without making acquisitions,…
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FDA advisers say the U.S. needs updated COVID-19 boosters to fight omicron
The U.S. should pursue a COVID-19 booster strategy that focuses on developing new shots that better protect against omicron and…
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How long will stocks stay in a bear market? It hinges on if a recession hits, says Wells Fargo Institute
When the S&P 500 officially dropped into a bear market on June 13, closing down more than 20% from its…
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U.S. trade deficit in goods falls for second month in a row after setting record
The numbers: The nation’s trade deficit in goods fell 2.2% in May to $104.3 billion, a second straight decline that could…
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Apollo’s bid for Boots fails as Walgreens abandons £5bn sale
The blockbuster sale of UK chemist Boots has reportedly been abandoned amid uncertainty in the debt markets. Walgreens Boots Alliance,…
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FTX boss Sam Bankman-Fried dismisses reports of Robinhood acquisition
Sam Bankman-Fried, chief executive at crypto exchange FTX, said the company is not having any active mergers and acquisitions conversations…
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Goldman Sachs, Wells Fargo up shareholder dividends after Fed gives green light
The largest US banks said they would increase payouts to shareholders after the Federal Reserve said the banks are able…
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Jupiter CEO Andrew Formica to step down
Jupiter Fund Management has announced that Andrew Formica will step down as chief executive of the FTSE 250-listed asset manager…
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German consumer sentiment expected to drop to new record low in July
Consumer confidence in Germany is set to fall in July to an all-time low, as inflation and Russia’s war in…
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Crypto lobbyist donated £500k to Conservatives before UK’s ‘crypto hub’ move
The Conservative Party received a £500,000 donation from a British crypto investor two months before the government pledged to make…
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Treasury response to regulatory proposals for the buy now pay sector — here’s what you need to know
Simon Lovegrove, global director of financial services knowledge, innovation and product; Matthew Gregory is counsel at Norton Rose Fulbright LLP The…
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Spirit Airlines stock sinks after Frontier sweetens deal
Frontier Group Holdings Inc. has upped the deal to snap up Spirit Airlines Inc. as the two ultra-low-cost airlines try…
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Credit Suisse fined $2m over money laundering linked to cocaine trafficking
Credit Suisse and a former employee were found guilty 27 June in a Swiss federal criminal court of helping a Bulgarian crime…
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Three Arrows hedge fund has defaulted on $675m crypto loan, broker Voyager Digital says
Crypto broker Voyager Digital said that hedge fund Three Arrows Capital had defaulted, failing to make loan payments tied to large bets in…
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Why hedge funds are shorting tether
Short sellers have been ramping up their bets against tether, the world’s largest stablecoin, amid a broad market selloff that…
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