general news
- Finance
Asset managers face divided regulation over ESG investing
The political divide over the role that environmental, social and governance factors should play in state pension investments stands to…
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Bahamas bear the brunt of FTX’s brutal collapse
NASSAU, Bahamas — Last year, an FTX executive walked into a bank office here and put $4.5m of the company’s…
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JPMorgan, Deutsche Bank on the hook for class action lawsuits over facilitating Jeffrey Epstein’s sex-trafficking
Women who accused Jeffrey Epstein of sexual abuse are suing Deutsche Bank and JPMorgan, saying the banks facilitated Epstein’s alleged sex-trafficking operation and ignored…
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Could carbon markets be financial services’ answer to climate change?
There is still an elephant in the room at COP27. And it just got bigger. At last year’s UN climate…
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Hackers Temporarily Take Down European Parliament Website
The European Parliament’s website was briefly disabled by a denial-of-service cyberattack on Wednesday, hours after lawmakers passed a resolution labeling…
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Meet Denis Okema — the ex-political refugee now fighting to diversify the investment industry
SEI Investments director Denis Okema fled his home country as a political refugee after he was the target of an…
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FTX Hires Ex-Regulators to Investigate Firm’s Collapse
Cryptocurrency exchange FTX, whose recent collapse has led to questions about lacking regulatory oversight, has hired a fitting team to…
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Litigation funder Harbour targets $400m war chest to invest in legal cases
Harbour Litigation Funding is gearing up to raise a new $400m fund to invest in legal cases. The litigation finance…
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Businesses and TUC plead with UK government to scrap plans to burn up EU rules
Business secretary Grant Schapps has come under pressure to scrap his plans to tear up established EU rules that sit…
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FTX hires former regulators to investigate what led to the crypto giant’s bankruptcy
Cryptocurrency exchange FTX, whose recent collapse has led to questions about lacking regulatory oversight, has hired a fitting team to…
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UK government mulls changes to MiFID II equity research rules among package of measures to boost City
The government is planning to announce a package of measures to boost the City and its provision of finance to…
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U.S. unlikely to see another late-year omicron wave, but Fauci urges people to get new COVID booster
The U.S. is unlikely to suffer the same surge of COVID-19 infections this winter as it did last year, when…
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Virginia Walmart shooter was store manager, police and witness say
CHESAPEAKE, Va. (AP) — A Walmart manager opened fire on fellow employees in the break room of a Virginia store,…
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Toxic combo of poor regulation and UK government’s reckless budget triggered pension blow-up, witnesses say in inquiry
A toxic combination of leverage, poor regulation and a reckless UK government budget drove the extraordinary blow-up of the pension…
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Pensions for Purpose’s Charlotte O’Leary: Can white, male, over-50 trustees represent a fund’s youngest members?
Charlotte O’Leary was fed up — she’d spent over a decade at large asset management firms and investment consultants. She was…
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Demand for office space with green credentials drives City’s refurb boom
Demand for buildings with better green credentials is one of the driving forces of a refurbishment boom in the City.…
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FTX debuts biggest crypto bankruptcy in court — what to expect
FTX is expected to make its debut appearance on 22 November in Delaware bankruptcy court, where its new management is…
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Ads Often Run on Websites That Come With High Carbon Emissions but Low Returns, Study Finds
Marketers are often running digital ads on websites that provide relatively low returns on their investment but generate comparatively high…
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Confused about COVID boosters? Here’s what the science and the experts say about the new generation of shots.
As we head into the third winter of the pandemic, only about 13% of American adults — less than 11%…
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China’s three-week COVID case tally tops 253,000 and daily average is rising, government says
More than 253,000 coronavirus cases have been found in China in the past three weeks and the daily average is…
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5 things NOT to buy on Black Friday
It’s a year for shopping prudently. Americans will spend between $942.6 billion and $960.4 billion this holiday season, according to…
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Ex-Conservative Party treasurer Malik Karim on Truss’ tenure: ‘I’d be lying to you if I told you it wasn’t a challenge’
Navigating the uncertainty of Liz Truss’s tenure as prime minister was a “challenge” for former Conservative Party treasurer Malik Karim,…
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Convicted Libor rigger Tom Hayes files fresh submission to overturn prosecution
Convicted Libor rigger Tom Hayes has made a new submission for his case to be reviewed by a UK body…
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Schroders’ Kimberley Lewis: ‘There is some discomfort talking about race in the UK’
Asset management was not my first career choice. I started my working life as a lawyer in the US, where…
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China announces first COVID deaths in months and unveils restrictions in Beijing and Guangzhou
China’s zero-COVID strategy was back in the headlines on Monday, after the country announced its first COVID deaths in nearly…
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Morgan Stanley plans to reduce one gigaton in carbon-dioxide emissions by 2050
Morgan Stanley has formed a new growth-capital strategy that aims to invest $1bn to back companies that will seek to…
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Social Security recipients are missing out on $182,000 by claiming too early, study finds
Social Security recipients are missing out on nearly $200,000 by claiming benefits too early, according to a new study. The…
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COP27 wins and losses: U.S. on the hook to pay for its pollution; natural gas gets nod as transition fuel
For the first time ever, rich nations, including a top-polluting U.S., will pay for the climate-change damage inflicted upon poorer…
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Supposed $477 million FTX ‘hack’ was actually a Bahamian government asset seizure
Remember that hack of nearly half a billion dollars in cryptocurrency from bankrupt FTX last weekend? Turns out it was…
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Tyson recalls 93,000 pounds of beef contaminated with a ‘mirror-like material’
Tyson Fresh Meats, a division of Tyson Foods Inc. TSN, +0.20%, is recalling 93,697 pounds of ground beef over a…
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Elizabeth Holmes sentenced to over 11 years in prison for Theranos crimes
Theranos founder and former chief executive Elizabeth Holmes was sentenced to 135 months, or over 11 years, in prison, putting…
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Pfizer and BioNTech updated booster shows strong results against new omicron sublineages in fresh analysis of data
A fresh analysis of data on the immune response generated by the bivalent COVID-19 booster showed strong results against the…
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FTX staff vent their anger as collapse leaves them in shock
One FTX executive vomited when he learned that the crypto exchange was missing billions of dollars of customer money. A company lawyer…
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Autumn Statement: Rachel Reeves slams government for protecting banker and private equity bonuses
Shadow chancellor Rachel Reeves has hit out at chancellor Jeremy Hunt for protecting the bonuses of bankers and private equity…
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Global tally of COVID cases rises in reversal of recent trend, led by Japan, South Korea and the U.S.
The global tally of COVID-19 cases rose 2% in the week through Nov. 13 from the previous week, according to…
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U.K. Government Seeks Further Easing of Data Protection Rules
BRUSSELS—The U.K. government is considering revisions to a data-protection bill it proposed in July that would relax rules businesses must…
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MH17 verdicts: 2 Russians and 1 Ukrainian separatist convicted of 298 murders
SCHIPHOL, Netherlands (AP) — A Dutch court on Thursday convicted two Russians and a pro-Moscow Ukrainian separatist in absentia of…
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Black Friday surprise: Jeff Bezos tells people NOT to buy cars, refrigerators and other big-ticket items. Critics call him out.
Billionaire Jeff Bezos, who founded the e-retail behemoth Amazon, has some spending tips as Americans gear up for a holiday…
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The Magic Circle isn’t dead yet – but it is facing some serious challenges
Reports of the Magic Circle’s death have been greatly exaggerated. That is according to partners, in-house lawyers, legal consultants and recruiters…
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JPMorgan, Credit Suisse among banks falling short on net-zero targets, charity says
Heavyweights in the Net Zero Banking Alliance including JPMorgan and Credit Suisse have set inadequate decarbonisation targets to meet net…
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Brexit did hurt the City’s exports – the numbers don’t lie
David Wighton is a columnist for Financial News Part of the reason that arguments about the economic impact of Brexit…
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House Speaker Nancy Pelosi to speak at noon Eastern as update expected on future plans
House Speaker Nancy Pelosi was poised to address her future plans Thursday, amid speculation over whether she will continue to…
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Why London and the EU still need a financial services deal
Andreas Dombret is a former executive at the German central bank and a global senior adviser with Oliver Wyman Europe’s financial…
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White & Case settles with ex-partner over ‘toxic’ culture claim
US law firm White & Case has settled an employment tribunal claim from a former London partner who accused the…
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Housing starts fall again as high mortgage rates scare off U.S. home buyers
The numbers: Construction on new houses fell 4.2% in October as high mortgage rates deterred buyers and forced builders to scale…
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Xavier Rolet: Clearing is the ‘litmus test’ for London’s global crown
The former chief executive of the London Stock Exchange Group Xavier Rolet said London’s ability to hold on to clearing services…
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Ex-BlackRock executive says ESG investment model is broken
Terrence Keeley had been at BlackRock for about a decade when he reached a contrarian conclusion: ESG doesn’t work. Keeley spent much…
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Autumn Statement: What to expect from the chancellor
The new chancellor of the exchequer Jeremy Hunt will address UK parliament on 17 November with an Autumn Budget announcement…
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At COP27 climate summit, Brazil’s Lula says Amazon deforestation to stop
Six weeks before taking power, Brazilian President-elect Luiz Inácio Lula da Silva on Wednesday told a packed crowd at the…
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Republicans clinch slim majority in House, likely signaling gridlock ahead
Republicans will take over the U.S. House of Representatives two years into President Joe Biden’s term, though their narrow majority…
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