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UK fund manager profit squeeze set to shrink bonuses by 20%
Some of the UK and Europe’s largest fund management houses have seen assets under management shrink this year as volatile…
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FTX flopped simply because it veered from decentralised finance
Jurica Dujmovic is a columnist for MarketWatch. He is a business publisher, consultant, designer and gamer The past few weeks have been…
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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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‘It’s risky business’: Binance’s $1bn crypto industry recovery fund prompts antitrust concerns
Binance risks getting on the wrong side of global competition watchdogs with its new $1bn industry recovery fund, a crypto…
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HSBC poaches ex-FCA comms boss Tom Willetts for private banking role
Former Financial Conduct Authority communications director Tom Willetts is joining HSBC as global head of communications for private banking and…
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Sam Bankman-Fried’s pledges for billions to stop future wars and pandemics in tatters on FTX’s collapse
Sam Bankman-Fried said he wanted to prevent nuclear war and stop future pandemics. And he publicly pledged to use his…
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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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Veteran dealmaker Malik Karim on the new culture of banking, and how UK markets can rebuild their clout
On 17 November, Financial News sat down with Fenchurch Advisory Partners founder and former Conservative Party treasurer Malik Karim to…
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Top women in finance gather for celebration at FN headquarters
Some of the most senior women in European financial services gathered together at Financial News‘ headquarters last night for a dinner…
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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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Abrdn set for FTSE 100 return following share price rally
Abrdn, the Edinburgh-headquartered asset manager, is set to return to the UK’s premier listing of UK companies following a more…
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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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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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Credit Suisse warns of $1.6bn hit in fourth quarter as concerned clients pull investments
Credit Suisse warned it would lose around $1.6bn in the fourth quarter after customers pulled their investments and deposits over…
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Fidelity cashes in on crypto crisis following FTX collapse
Fidelity’s institutional crypto boss said the firm is taking advantage of the turmoil in the digital assets sector, as clients…
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Morgan Stanley names new leaders for European financial sponsors unit in dealmaker shake-up
Morgan Stanley has installed new heads of its financial sponsors business in Europe, the latest changes at the US bank,…
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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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Morgan Stanley’s top London banker Franck Petitgas steps down
Morgan Stanley’s top investment banker in London is stepping down from the US firm after nearly 30 years. Franck Petitgas,…
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The SEC rule that stands to cost FTX crypto customers billions
Hal Scott is an emeritus professor at Harvard Law School and director of the Committee on Capital Markets Regulation. John…
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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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Why central bank digital currencies will never solve our challenges
Barry Eichengreen, professor of economics at the University of California, Berkeley, is a former senior policy adviser at the International…
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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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Credit Suisse and Apollo strike deal for securitised products group
Credit Suisse Group has entered into definitive transaction agreements to sell a large part of its securitised-products group and other…
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Hedge funds fall for Dubai over lower tax rates, softer regulation — portfolio managers want in
London hedge funds are joining a trend of investment firms looking towards Dubai for expansion, lured by lower tax rates, softer…
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ESG indices jump 50% but new investors are still unsure
ESG futures indices are booming, but many new investors are still not confident enough to back them. CME Group’s global head…
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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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Bain Capital snares Ropes & Gray London boss for top European legal role
Private equity firm Bain Capital has hired US law firm Ropes & Gray’s London boss for a senior role in…
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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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ESG firm raises eyebrows for ranking collapsed crypto giant FTX higher on governance than Exxon Mobil
AI-driven ESG ratings firm Truvalue Labs has defended its methodology after awarding collapsed crypto giant FTX a higher score for…
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SocGen and AllianceBernstein agree equities tie-up
French bank Societe Generale has signed a joint venture with US investor AllianceBernstein to bolster its equity research, trading and…
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How Elon Musk’s Twitter Faces Mountain of Debt, Falling Revenue and Surging Costs
To make the deal work, Mr. Musk has been trying to add subscription revenue and reassure advertisers about the platform’s…
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Disabled Shoppers Struggle With Inaccessible Self-Checkouts
Stores’ self-checkout machines can annoy shoppers with error messages about unexpected items in the bagging area and other hiccups. But…
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Bank of England’s Jon Cunliffe doubles down on need for crypto regulation after FTX crisis
The Bank of England’s deputy governor Sir Jon Cunliffe has doubled down on the need to regulate cryptocurrency in the wake…
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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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Abrdn, Amundi, Aviva Investors: FTX collapse a ‘major setback’ for crypto uptake
Heavyweight fund groups including Abrdn and Aviva Investors said other big name investors that have steered clear of cryptocurrencies will be extra…
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Hunt postpones worst fiscal pain and hoped-for City reforms
On the whole, the chancellor’s Autumn Statement was rather understated. Jeremy Hunt unveiled a huge package of tax and spending…
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Rothschild & Co hires ex-Rio Tinto chair Simon Thompson for UK advisory business
Rothschild & Co has taken on the former chair of mining giant, Rio Tinto, to help bolster its coverage of…
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EY partner vote on firm’s split pushed back until 2023
EY’s partner vote on its split between its audit and consulting arms is set to be pushed back until next…
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Autumn Statement: City workers hit with new taxes as Hunt takes aim at dividends and capital gains
Chancellor Jeremy Hunt has upped the tax burden on City workers through changes to dividend and capital gains treatment in…
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Contagion fears emerge at crypto bank Silvergate Capital after FTX debacle
Earlier this month, Silvergate Capital gathered its staff to celebrate its transformation into the go-to bank for the crypto market.…
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FTX’s 50 largest creditors owed $3.1bn
FTX owes its 50 largest creditors about $3.1bn, the failed cryptocurrency exchange said in a bankruptcy court filing on 19…
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Amazon Looks to Sparrow to Carry its Robotics Ambitions
WESTBOROUGH, MASS. — In a brightly lighted warehouse tucked along an industrial road about 45 minutes east of Boston, a…
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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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