breaking financial news
- Finance
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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Corporate governance and audit reform – watered down or pragmatic?
Jim Oulton and Tim Shepherd are partners in the litigation and dispute resolution department of Mayer Brown International where they…
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Goldman Sachs says Coinbase may need more job cuts as it downgrades to ‘sell’
Coinbase has come under more pressure after Goldman Sachs downgraded the embattled crypto exchange’s stock to a ‘sell’ rating and…
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Black bankers in senior ranks at Goldman, JPMorgan show ‘snail’s pace’ of diversity drives
Wall Street banks are making slow and patchy progress on improving diversity, latest figures show. Banks are providing new clarity on…
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SocGen accuses Clifford Chance of negligence in £384m gold bullion dispute
Societe Generale has accused Clifford Chance of negligence over its work for the bank in a dispute over £384m-worth of…
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As Russia Chokes Ukraine’s Grain Exports, Romania Tries to Fill In
Stopping at the edge of a vast field of barley on his farm in Prundu, 30 miles outside Romania’s capital…
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Local leadership driving progress on the Sustainable Development Goals
As the halfway point to 2030 nears, the importance of cities and local leaders to achieving the Sustainable Development Goals…
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Revolut enters buy-now-pay-later fray with offering to rival Klarna
Revolut has gone toe-to-toe with Klarna and other lending giants as it rolls out its first buy-now-pay-later product across Europe.…
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Fed Confronts a ‘New World’ of Inflation
Federal Reserve officials are questioning whether their longstanding assumptions about inflation still apply as price gains remain stubbornly and surprisingly…
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MPs to up FCA oversight as regulators face Brexit pressure
MPs are setting up a new body to oversee the UK’s regulators, as Brexit continues to heap pressure on agencies such…
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LME appoints Oliver Wyman to oversee nickel crisis post-mortem
The London Metal Exchange has selected Oliver Wyman to head the exchange’s independent review of its handling of the nickel…
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Cristiano Ronaldo kicks off crypto partnership with Binance in multi-year NFT deal
Cristiano Ronaldo has become the latest sports star to dip his toes into the world of cryptocurrency despite the crisis…
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Solvency II overhaul is ignoring huge climate risks
Jesse Griffiths is chief executive of the Finance Innovation Lab The prime minister says reforms to Solvency II are about getting rid…
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Realizing the New Urban Agenda in Africa: The centrality of local politics
Twenty years ago, UN-Habitat convened the first World Urban Forum in Nairobi, Kenya, to address the challenges of managing rapid…
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UK sanctions boss predicts pushback from lawyers over Russia crackdown
The man behind the UK’s sanctions regime is expecting significant legal challenges as the government’s crackdown on Russia’s war with Ukraine…
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Inflation surges to 7.7%, fastest since 1983: What Canadians need to know
Breadcrumb Trail Links FP Economy Kevin Carmichael: The Bank of Canada is staring down the most dangerous burst of inflation…
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Does Wall Street have a diversity problem?
With two weeks to go before the second anniversary of George Floyd’s murder, which triggered a tremendous outpouring of grief and…
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Wall Street tales from a Black trader: ‘We felt that every set of eyes on the trading floor was focused on us’
J Derek Penn is one of Wall Street’s veteran traders. He also happens to be one of the first few…
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Companies Brace for Impact of New Forced Labor Law
WASHINGTON — A sweeping new law aimed at cracking down on Chinese forced labor could have significant — and unanticipated…
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Perella Weinberg hires Barclays dealmaker in private markets push
Perella Weinberg Partners has hired a senior dealmaker from Barclays as the boutique continues to expand its coverage of private…
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Why the crypto winter could be a Lehman moment
When a traditional bank fails, a SWAT team of regulators swoops in, winding it down in secret and preventing a…
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Freeland says Ottawa ‘prepared to do more’ if inflation stays hot
Breadcrumb Trail Links News FP Economy For now, however, the finance minister said she thinks she’s done enough Publishing date:…
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TP ICAP hires ex-SocGen MD Daniel Fields as global broking head
TP ICAP has hired Daniel Fields as chief executive of the firm’s global broking division. Fields will report directly to…
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Natixis affiliate Mirova snaps up renewable energy investor in emerging markets push
Natixis Investment Managers affiliate Mirova has bought a specialist private debt firm that finances renewable energy projects in Africa and Asia as…
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A day after Powell’s assurances about the economy, markets are worried that ‘the Fed breaks something’
Federal Reserve Chairman Jerome Powell‘s insistence that the central bank is not deliberately trying to cause a recession and that…
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Fed promises ‘unconditional’ approach to taking down inflation in report to Congress
U.S. Federal Reserve Board Chairman Jerome Powell takes questions after the Federal Reserve raised its target interest rate by three-quarters…
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Here are the three things the Fed has done wrong, and what it still isn’t getting right
The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., June 14, 2022. Sarah…
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Inflation and recession fears are squeezing some industries more than others
A woman pushes a shopping cart through the grocery aisle at Target in Annapolis, Maryland, on May 16, 2022, as…
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Three questions for the labor market’s near future
In the past two months, the U.S. economy has added a total of 826,000 jobs, according to the latest Bureau…
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Trading Places: AJ Bell founder steps down, crypto loses more than 1,000 jobs, Santander’s new CEO
The crypto sector was hit the hardest by the recent plunge in markets. Coinbase cut 1,000 jobs – about a fifth…
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Why a Credit Suisse takeover post-Archegos would need a very bold bidder
Five months ago, following the resignation of Sir António Horta-Osório as chair of Credit Suisse, I suggested it might be a…
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Elon Musk hints at layoffs in all-hands meeting with Twitter staff
Elon Musk, speaking via a smartphone that he appeared to be holding in front of him, told Twitter employees that…
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Chrystia Freeland lays out $8.9 billion affordability plan to tackle inflation
Breadcrumb Trail Links News FP Economy Measures include more money for low-income workers, seniors, parents and renters struggling with housing…
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The future of place-based investments
Following decades of lagging federal spending, the recent passage of two landmark laws—the American Rescue Plan and the Infrastructure Investment…
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A lot must go right to achieve soft economic landing, David Dodge says
Breadcrumb Trail Links News FP Economy Lead author of Bennett Jones spring economic outlook says policymakers must work quickly to…
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Interest Rates Rise Around the World, as War and High Inflation Grind On
Countries that have raised their policy interest rate this year Arrow lengths are each country’s most recent increase in percentage…
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EY to invest $1bn in ‘next generation’ audit tech amid break-up talks
EY is investing $1bn in “next generation” technology for its audit practice over the next four years, as a decision…
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What the Fed’s rate increase means for credit cards, car loans and student loans.
The Fed’s decision to raise its key interest rate by three-quarters of a percentage point is good news for savers,…
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Fed GDP tracker shows the economy could be on the brink of a recession
Federal Reserve Chairman Jerome Powell testifies during the House Financial Services Committee hearing titled Monetary Policy and the State of…
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Inside a Corporate Culture War Stoked by a Crypto C.E.O.
Jesse Powell, a founder and chief executive of Kraken, one of the world’s largest cryptocurrency exchanges, recently asked his employees,…
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Mortgage demand falls to the lowest level in 22 years amid rising rates and slowing home sales
Mortgage rates are back on the upswing, after a brief decline in May, and the housing market is still suffering…
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Homebuilder sentiment drops to lowest level in two years as housing demand slows
A contractor frames a house under construction in Lehi, Utah, U.S., on Wednesday, Dec. 16, 2020. Private residential construction in…
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Bringing inflation down is going to take time, patience — and pain
Products are seen in a supermarket, in Los Angeles, California, May 27, 2022. Lucy Nicholson | Reuters Tackling runaway inflation…
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Wholesale prices rose 10.8% in May, near a record annual pace
Wholesale prices rose at a brisk pace in May as inflation pressures mounted on the U.S. economy, the Bureau of…
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Here’s everything the Fed is expected to announce, including the biggest rate hike in 28 years
US Federal Reserve Chairman Jerome Powell speaks during a news conference in Washington, DC, on May 4, 2022. Jim Watson…
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SEC’s Gary Gensler warns lawmakers not to undermine wider markets with crypto rules
Securities and Exchange Commission chairman Gary Gensler expressed concern 14 June that efforts in Congress to write legislation for the cryptocurrency…
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Fund-of-funds sector becomes more competitive after sluggish history
The inaugural HEC-Dow Jones Performance Ranking of Private Equity Fund-of-Funds 2021 has been dominated by US firms, which occupy all…
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The bear market has landed – here’s what history says will happen next
The S&P 500 SPX – 3.88% is in a bear market. History says it will probably get worse before it…
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U.S. Scrutinizes Swiss Currency Practices
WASHINGTON — The Treasury Department said on Friday that it was concerned that some of America’s trading partners were taking…
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