financial news this week
- Finance
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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U.S. GDP rose 6.5% last quarter, well below expectations
The U.S. economy rose at a disappointing rate in the second quarter, the Commerce Department reported Thursday in a sign…
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Pending home sales drop in June — more evidence of a housing turnaround
A real estate for sale sign shows the home as being “Under Contract” in Washington, DC, November 19, 2020. Saul…
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Supporting distressed communities by strengthening regional public universities: A federal policy proposal
Contents Forecasters predict the economy will grow significantly in the latter half of 2021 as the U.S. continues its recovery…
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Tiff Macklem: The Bank of Canada remains firmly committed to keeping inflation under control
Breadcrumb Trail Links News Economy Rising prices due to pandemic gyrations unlikely to persist Author of the article: Tiff Macklem,…
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Robinhood prices IPO at bottom of range on tepid demand
Robinhood priced its initial public offering at $38 a share, at the low end of expectations, after the popular trading…
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Morgan Stanley hikes junior banker salaries to $100,000
Morgan Stanley has raised base salaries for entry-level bankers to $100,000, leaving Goldman Sachs as the last remaining Wall Street bank…
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Evercore hikes pay by 33% amid record M&A boom
Boutique investment bank Evercore has posted record revenues for the second quarter as the industry’s $60bn fee haul during the…
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Why Amazon’s crypto bet isn’t about bitcoin — it’s about banks
Though blockchain has long been on its agenda, Amazon’s entry into digital currencies as the world’s largest online retailer has…
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Siemens CEO Roland Busch on combining the real and digital worlds
It has become a cliché to observe that the pandemic has accelerated existing trends across a wide range of industries.…
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Credit Suisse hires Goldman Sachs executive Wildermuth as new chief risk officer
Credit Suisse has tapped a Goldman Sachs executive as its next chief risk officer as the Swiss bank continues to…
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Revealed: The best-performing ESG funds you’ve never heard of
Asset managers are scrambling to launch funds to tap into growing investor demand for sustainable investments. At the same time,…
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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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Criminal Commission to consider report claiming Libor rigger Tom Hayes was innocent
The Criminal Cases Review Commission has confirmed it is considering an academic research that claims convicted Libor rigger Tom Hayes was wrongfully…
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Credit Suisse settles spying case with former executive Iqbal Khan
Credit Suisse has reached a settlement with former international wealth management head Iqbal Khan and private investigators over a spying…
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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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Delays, More Masks and Mandatory Shots: Virus Surge Disrupts Office-Return Plans
He did not respond, but days later Apple posted an internal video in which company executives doubled down on bringing…
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Meet the latest IPO fad: Grills
The searing market for newly public companies has a new obsession: grills. Two leading sellers of outdoor grills and grilling…
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UBS chief dismisses crypto: ‘We’re very cautious’
Cryptocurrencies have yet to display enough fundamental value to be considered a valid investment opportunity, the chief executive of UBS…
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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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View: Is Brussels taking dirty money seriously?
Preventing and combating money laundering and terrorist financing has been on the EU’s agenda for more than 30 years. The…
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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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Tiff Macklem’s dashboard: Charting economy’s exit from pandemic puzzle
Breadcrumb Trail Links News Economy Governor Tiff Macklem has said that the path of interest rates will be determined by…
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UBS dealmakers’ fees surge by 70% as trading boom ebbs
UBS’s investment bank brought in fees nearly 70% ahead of last year during the second quarter, due to a surge…
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Nomura hikes junior pay to $100,000 as talent war heats up
Nomura bolstered entry-level investment banker salaries to $100,000, mirroring moves by Wall Street banks in recent weeks as the battle…
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Fidelity says 80% of investors want crypto in portfolios: ‘Regulation is coming’
Nearly eight in 10 institutional investors say that digital assets such as cryptocurrencies should form part of a portfolio, according…
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FCA eyes reform to controversial EU retail fund rules
The UK’s financial watchdog is looking to tweak controversial European Union rules that require asset managers to produce onerous investor…
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Yellen sees ‘several more months of rapid inflation’ before easing, worries about housing impact
Treasury Secretary Janet Yellen cautioned Thursday that prices could continue to rise for several more months, though she expects the…
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Boutique Stifel follows Wall Street rivals with $100,000 salary for juniors
Boutique investment bank Stifel has joined larger rivals by increasing pay for entry-level jobs to $100,000 as the sector faces a…
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Apollo’s billionaire co-founder Leon Black comments on allegations of abuse
Leon Black, the billionaire co-founder of Apollo Global Management, submitted a detailed response on 19 July to a lawsuit that accused…
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The emerging solidarity economy: A primer on community ownership of real estate
About the Authors Tracy Hadden Loh Fellow – Metropolitan Policy Program, Anne T. and Robert M. Bass Center for Transformative…
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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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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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Here’s why governments want crypto experts
Monetary authorities around the world are rushing to design digital currencies, and many are asking: Who knows how to do…
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How can the US support democracy and development in Latin America?
From widespread protests in Cuba to the assassination of Haitian President Jovenel Moïse, recent unrest across Latin America has brought…
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UK economy grows at fastest rate since last July
The UK economy grew 2.3% in April, marking its fastest growth rate since July last year as shoppers returned to…
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UK and US mull new economic models ahead of possible trade deal
The UK and US governments will form a research group to look at whether new economic models are possible, as the…
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US law firm boosts pay for first year London lawyers to $200,000
Wall Street law firm Milbank has ramped up pay for first year lawyers in London to $200,000 amid a mergers…
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Where’s the sense in excluding climate change data from a company’s accounts?
Last weekend’s G7 finance minister’s meeting was dominated by news on a global tax deal, but that was not all…
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State Street sets ‘extremely high bar’ for crypto ETFs: ‘Until we’re comfortable, we will not launch’
State Street’s exchange traded funds business is considering how it can tap into growing client demand for cryptocurrencies such as…
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SIX exchange wins big at FN’s Trading & Tech Awards 2021
Swiss stock exchange group SIX scored two top prizes in this year’s Financial News Trading & Tech Awards after completing a…
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UBS names Roberts as new head of European activist defence
UBS has promoted a senior dealmaker to lead its activist defence unit in Europe, following the departure of former boss…
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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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Delay to lift lockdown means government’s advice to work from home remains
The final stage of lockdown will be pushed back by a month to 19 July in England amid the spread of the…
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Treasury’s John Glen talks up ‘green shoots’ of UK’s economic recovery
There are “green shoots” of recovery across the economy, according to a leading Treasury official, as the government looks to…
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Climate concerns triggers LGIM’s divestment from AIG, Commercial Bank of China
Legal & General Investment Management, the UK’s largest asset manager, has pulled investment from insurance company AIG and three other…
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As New York Reopens, It Looks for Culture to Lead the Way
Broadway is planning to start performances of at least three dozen shows before the end of the year, but producers…
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