OpenAI's Stargate UK plan: key site unvisited, £20bn hypothetical
OpenAI's Stargate UK project appears largely hypothetical, with key site unvisited and £20bn of £30bn touted investment uncommitted, raising questions over UK AI strategy.
Category : Corporate
Starling Bank to cut 130 jobs, invest in AI to reduce costs
Starling Bank will cut 130 jobs (3% of workforce) and increase AI investment to reduce duplication and costs, amid a 6% revenue drop and £29m FCA fine.
Macro hedge funds cash in on volatile markets
Macro hedge funds gained 4.5% in 2023 through November, outperforming other strategies amid volatile markets driven by inflation and central bank policy shifts.
Xbox layoffs to fund Halo and other franchises
Xbox is reportedly closing studios and laying off staff to redirect resources to Halo and other iconic franchises, according to multiple insiders.
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Top Women in Finance 2024: Nominate Now
Financial News opens nominations for its 2024 Top Women in Finance list, celebrating female leaders in European finance. Deadline is May 17.
Julius Baer hires StanChart, Deutsche Bank veteran as CFO
Julius Baer appoints Evie Kostakis as CFO, succeeding Nic Dreckmann, effective from the second half of 2025, according to a statement.
JPMorgan boosts sponsors team; ex-Eisler partner to Gemcorp
JPMorgan expands its sponsors team with senior hires while an ex-Eisler partner joins Gemcorp, signaling shifts in investment banking and commodity trading talent.
Key Insights from Clifford Chance's Partnership
Clifford Chance's new partnership agreement reveals a shift to performance-based profit sharing and a reduced lockstep period, aiming to boost retention and competitiveness.
OpenAI in early talks to give 5% stake to US government
OpenAI is reportedly in early-stage talks to give a 5% stake to the US government, as CEO Sam Altman seeks to share AI benefits and smooth relations with the Trump administration.
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NBCUniversal considers gaming move as industry struggles
NBCUniversal is exploring entry into digital gaming, according to Reuters, potentially leveraging Peacock or acquiring studios, as the video game industry faces monopolization and financial challenges.
RBC Hires Macquarie Dealmaker Scaddan
RBC Capital Markets has hired Macquarie dealmaker James Scaddan as managing director to bolster its financial sponsors coverage in Europe.
JPMorgan hires BNP Paribas dealmaker Holloway in sponsors push
JPMorgan has hired BNP Paribas dealmaker David Holloway as a managing director to lead its financial sponsors coverage in Europe, the Middle East and Africa.
US Banks Gain Share as Deal Fees Surge 16%
US investment banks increased their share of global M&A fees to 53% in 2024 as total deal fees rose 16% to $68 billion, driven by a rebound in large transactions.
Macfarlanes raises junior lawyer pay to £150,000
Macfarlanes has increased pay for newly qualified lawyers to £150,000, matching top City firms amid fierce competition for talent.
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Quilter CEO: Asset Managers Must Cut Fees or Face Consolidation
Quilter CEO Steven Levin warns asset managers to reduce fees or face consolidation, highlighting a shift to cheaper passive funds and margin pressure.
Trump made over $2bn last year from crypto, bibles, watches
President Trump cashed in on more than $2bn from crypto, bibles, watches and other ventures last year, turning digital tokens and merchandise into unprecedented revenue.
Brighton agree £50m deal for Tottenham's Luka Vuskovic
Brighton have agreed a deal worth up to £50m for Tottenham defender Luka Vuskovic, who has never played for Spurs. The 19-year-old Croatia star impressed on loan at Hamburg.
Trump made $2.2bn in 2025, led by crypto income
Donald Trump's financial disclosures reveal he made over $2.2bn in 2025, including $1.2bn from crypto businesses, raising conflict-of-interest concerns as he deregulates the industry.
PwC UK Partner Promotions Rise Slightly in 2024
PwC UK promoted 60 new partners in 2024, up from 56 in 2023, with a focus on advisory and tax roles amid steady demand.
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Polar Capital CEO Eyes US Growth with New Hires
Polar Capital's CEO plans US expansion by hiring US-based portfolio managers and analysts to increase assets under management in the region.
Romesh Ranganathan 'gutted' as heatwaves close bakery chain
Romesh Ranganathan's bakery chain Coughlans Bakery closes after heatwaves and tax hikes. The 89-year-old business went into voluntary liquidation, citing 50% revenue loss.
HSBC Hit by $162M Losses from Fintech Flop Zing
HSBC suffered $162 million in losses from its failed fintech venture Zing, leading to a strategic rethink of its digital banking approach.
Millennium Hires Ex-BNP Trader for Zug Office
Millennium Management has hired a former BNP Paribas trader to expand its Zug office, strengthening its Swiss presence and quantitative trading capabilities.
IO Interactive layoffs as Xbox pulls funding on Project Fantasy
Microsoft has pulled funding from IO Interactive's Project Fantasy, leading to layoffs at the 007 developer. Xbox is also considering closing Arkane, risking Blade cancellation.
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Liberal Party rebranding efforts examined
A visual analysis reveals the Liberal Party's strategic rebranding efforts, aiming to modernize its image and appeal to younger voters ahead of the next election.
Bessent Warns Oil Companies: 'We're Watching' Prices
US Treasury Secretary Scott Bessent warned oil and gas companies to lower prices, saying 'we're watching,' after President Trump demanded retailers drop gas prices to $2.50 a gallon.
Houlihan Lokey Buys Ex-Barclays Boss's Boutique Intrepid
Houlihan Lokey acquires Intrepid Financial Partners, founded by ex-Barclays investment bank boss John McGee, boosting energy advisory.
Jefferies dealmaker Raphael to join Ardian
Jefferies M&A dealmaker Raphael is leaving to join private equity firm Ardian, marking a notable shift from investment banking to private equity.
Morgan Lewis plans London expansion for more deals
Morgan Lewis is expanding its London office to win more M&A deals, adding partners from competitors and focusing on private equity.
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Xbox layoffs might be largest in gaming history, insider says
Game designer George Broussard claims Xbox's upcoming layoffs could be the largest single layoff event in gaming history, with multiple studio closures expected.
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