Revolut Fined €11.5M in Italy for Misleading Investment Ads
Italian regulators have imposed an eight-figure fine on Revolut for misleading customers about fees and investment terms, with the fintech giant planning to appeal the decision.
Category : Corporate
KPMG Cleared as Regulator Drops Entain Audit Probe
The Financial Reporting Council has closed its investigation into KPMG's audit of gambling giant Entain, deciding against enforcement action following review of evidence.
Funeral Director Faces Jail for Wrong Ashes Scandal
A former funeral director who gave dozens of families incorrect ashes, including those of unborn children, pleaded guilty to 30 offences after police found 35 bodies and over 100 sets of ashes at his Hull business.
Evercore Tops UK Dealmaking Fee League Table
Evercore has outperformed larger competitors in UK dealmaking fees, securing a top position in the league table amid a challenging market environment.
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SpaceX Files for IPO with $1.75 Trillion Valuation Target
Elon Musk's SpaceX has confidentially filed for an IPO, potentially raising $75 billion and targeting a $1.75 trillion valuation. The company has enlisted major banks and could list as early as June.
KPMG Cleared in Entain Audit Probe by UK Regulator
The UK's Financial Reporting Council has concluded its investigation into KPMG's audit of Entain, finding no breaches of ethical or technical standards in the 2019 review.
BP's New CEO Navigates Strategy Shift Amid Iran War Profits
Meg O'Neill takes helm at BP as oil giant faces strategic overhaul while benefiting from Iran conflict windfall. Meanwhile, Heathrow's third runway costs spark concerns, and football regulator pushes for financial settlement.
Aberdeen's Chairman Search Stalled by Bad Luck and Competition
Aberdeen Asset Management's prolonged search for a new chairman is attributed to a mix of unfortunate timing and intense competition for top talent in the financial sector.
HSBC Hires BBVA Executive for Swiss Private Bank Leadership
HSBC has appointed a former BBVA executive to head its Swiss private banking operations, marking a strategic move to strengthen its wealth management services in Europe.
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Sportradar Hit with UK and US Lawsuits Over Aggressive Tactics
Sport data giant Sportradar faces multi-million pound lawsuits in London and New Jersey courts, accused of anti-competitive behavior toward software firm Altenar.
Unilever Merges Food Business with McCormick in $44.8bn Deal
Unilever combines its food business with McCormick in a $44.8 billion deal, creating a complex merger that has drawn skepticism from shareholders.
CEO Holiday Debate: Stay Connected or Switch Off?
M&S CEO Stuart Machin argues CEOs should stay connected on holiday, while critics warn against burnout. Experts debate whether constant availability boosts security or damages leadership.
Gen Z Demands Purpose-Driven Business Over Profit
A new generation of entrepreneurs and professionals prioritizes ESG and values in business, challenging traditional corporate models and driving a shift toward sustainability and fairness.
CEOs Lose Sleep Over Senior Teams, Not Employees, Study Finds
A Boston Consulting Group study shows chief executives of major firms worry more about their own leadership teams than board expectations or employee morale, with CFOs seen as the biggest job threat.
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Investment Banks Hire Dealmakers Despite Global Upheaval
Leading investment banks are aggressively recruiting dealmakers, with plans to increase headcount by up to 20%, as they capitalize on market volatility and geopolitical shifts to drive mergers and acquisitions.
Unilever's $44.8B Food Spin-Off Deal with McCormick
Unilever agrees to combine its food business with McCormick in a $44.8 billion deal, creating a new entity majority-controlled by Unilever but led by McCormick executives.
Unilever Creates $60bn Food Empire in McCormick Merger
Unilever merges its food brands with McCormick in a $45bn deal, creating a $60bn food giant while facing activist pressure and implementing hiring freezes amid geopolitical challenges.
Deutsche Bank Faces £700m Lawsuit from Ex-Executives in London
Four former Deutsche Bank executives have launched a £700 million High Court lawsuit alleging the bank conspired to injure them through unlawful means, stemming from the Monte dei Paschi di Siena scandal.
Alantra Hires Burton to Boost London Tech Coverage
Global investment bank Alantra has appointed experienced dealmaker James Burton to strengthen its technology sector advisory services in London, aiming to capitalize on the city's growing tech market.
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Unilever Hiring Freeze as Iran War Disrupts Supply Chains
Unilever has announced a three-month global hiring freeze at all levels due to significant challenges posed by the Iran war, which is disrupting supply chains and increasing costs.
Apple Fined £390,000 for UK Sanctions Violation
Apple Distribution International, an Irish subsidiary, was penalized for making payments to a sanctioned Russian streaming service via a UK bank, highlighting global sanctions enforcement risks.
Epic Games CEO Apologizes for Terminally Ill Employee Layoff
Tim Sweeney, CEO of Epic Games, apologized after an employee with terminal brain cancer lost his job and life insurance in mass layoffs, sparking public backlash.
Princes Group Signals Price Hikes Amid Middle East Conflict
The Liverpool-based food giant Princes warns of potential price increases as Middle East tensions escalate fuel and transport costs, while reporting mixed financial results.
Haldane's Mission to Reignite Britain's Economic Animal Spirits
Former Bank of England chief economist Andy Haldane discusses his new role at the British Chambers of Commerce, warning about business risk aversion and calling for regulatory reform to boost UK growth.
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Big Four Accounting Firms Cut Hundreds of Jobs in UK
KPMG plans to eliminate around 600 positions in the UK, joining PwC, EY, and Deloitte in workforce reductions driven by AI investment, fee compression, and low attrition rates.
Millennium Credit Head Dan Friedman Moves to New York
Millennium Management relocates its credit head Dan Friedman from London to New York, reflecting strategic shifts in global operations and talent deployment.
Price Tensions Linger in Bain's Canaccord Sale Talks
Bain Capital's ongoing discussions to sell its stake in Canaccord Genuity face hurdles due to unresolved price disagreements, impacting the financial advisory sector.
Schroders Hires UBS Veteran for Head of Europe Role
Schroders has appointed a seasoned UBS executive to lead its European operations, marking a strategic move to strengthen its regional presence and expertise.
Balyasny's $300M Hiring Push: 'Pressure Is Real'
Balyasny Asset Management is launching a $300 million global hiring initiative, with insiders revealing intense pressure to recruit top talent amid fierce competition in the hedge fund sector.
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City Bankers Bullish on Dealmaking After Volatile Q1
Despite a turbulent first quarter, City bankers express optimism for dealmaking in 2024, driven by pent-up demand and strategic opportunities in a stabilizing market.
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