Barclays Investment Bank Revenue Slips 5% Despite Surge
Barclays investment bank saw a 5% revenue decline in Q1 despite strong M&A and equities performance, as fixed income weakness offset gains.
Category : Corporate
Barclays Reserves £823M for Bad Loans as Investment Bank Booms
Barclays reserves £823m for bad loans amid global market volatility, while its investment bank posts record quarterly income of £4bn, lifting pre-tax profit 3% to £2.8bn.
Big Tech Earnings to Test AI Demand and Nvidia Surge
Investors eye Big Tech earnings from Microsoft, Alphabet, Meta, and Amazon for AI demand signals, capex plans, and Nvidia's market milestone.
FCA Probes 30 Firms After Market Financial Collapse
The FCA is investigating 30 Annex 1 firms following the collapse of Market Financial Solutions, raising concerns over regulatory oversight in the sector.
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JPMorgan Promotes London Bankers in Healthcare Shake-Up
JPMorgan has promoted London-based bankers Capper and Pissanos as part of a major shake-up in its healthcare investment banking division, aiming to strengthen its sector expertise.
Nationwide Could Have First Customer Board Member in 25 Years
James Sherwin-Smith has secured enough nominations to run for Nationwide's board, potentially becoming the first customer director in 24 years, raising governance concerns.
HSBC Reviews School Fee Perk for Hong Kong Bankers
HSBC is reviewing a subsidy covering 95% of school fees for mid-to-top level Hong Kong staff, costing tens of millions annually, as part of CEO Georges Elhedery's cost-cutting overhaul.
Big Four Rethink Partnership Model Amid Profit Pressures
KPMG, EY, PwC, and Deloitte are reshaping their equity partnership structures, demoting senior partners and cutting promotions to protect profits amid economic challenges.
London Named World's Share Buyback Capital
London tops global share buyback rankings as UK companies capitalize on low valuations and improved sentiment, outpacing the US and other markets.
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Shell Buys Canadian Shale Producer ARC Resources in $16.4bn Deal
Shell acquires Canadian shale producer ARC Resources for $16.4bn, boosting production and reserves. The deal is part of an industry shift back to core oil and gas.
Motor Finance Lenders Warned of Gridlock in £9bn Scandal
UK banks brace for motor finance redress scheme as Consumer Voice challenges FCA, risking delays and higher costs for lenders already facing £9bn bill.
Banks Push $7.5B into Private Equity Funds
Major banks are launching a record $7.5 billion private equity fund push, signaling a strategic shift towards alternative investments to boost returns amid low interest rates.
Bank of America Rehires Kollmann for German IB
Bank of America has rehired seasoned banker Kollmann to bolster its German investment banking operations, signaling a strategic push in the region.
Latham & Watkins London Boss Eyes City Expansion
Latham & Watkins' London head targets growth after record $1bn revenue year, aiming to expand office space and hire more lawyers in the City.
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Martin Lewis: Get Power of Attorney, More Vital Than Will
Martin Lewis says a £92 lasting power of attorney is more important than a will, warning failing to act can cause family stress and court costs.
US Millionaire Hunter Killed by Elephants in Gabon
Ernie Dosio, 75, died after being crushed by elephants while hunting antelope in Gabon. His guide was seriously injured.
Microsoft and Meta Cut Thousands in AI Bet
Microsoft and Meta announce thousands of job cuts as they redirect resources toward artificial intelligence, marking a significant shift in tech industry priorities.
Axel Springer Skipped Due Diligence on Telegraph Deal
Axel Springer did not conduct due diligence before its £575m Telegraph takeover, raising concerns about recouping investment as print declines.
BlackRock Increases Fink's Security Spend $500,000
BlackRock raised CEO Larry Fink's personal security budget by $500,000 amid rising threats. The move reflects growing concerns for executive safety in the financial sector.
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Moelis Hires Jefferies' Rosedale for London Sponsors Team
Moelis & Company has hired David Rosedale from Jefferies to head its financial sponsors coverage in London, strengthening its private equity relationships.
JPMorgan Promotes 135 New MDs in Banking and Markets
JPMorgan Chase has promoted 135 new managing directors in its banking and markets division, reflecting continued investment in senior talent.
Shackleton Buys £10bn Rival Wealth Manager
Shackleton, a private equity-backed wealth manager, acquires a £10bn rival, strengthening its position in the UK wealth management sector.
KPMG Cuts 140 US Audit Partners in Global Restructuring
KPMG is laying off about 140 US audit partners, following 600 UK job cuts. The Big Four firm aims to reduce headcount amid profitability pressures.
US Soldier Charged for $400K Bet Using Classified Info
A US Army master sergeant allegedly used classified information to win $400,000 betting on the capture of Venezuelan leader Nicolas Maduro. He faces multiple federal charges.
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Lloyds Earnings Spotlight Motor Finance and Wealth
Lloyds Banking Group's first-quarter update will highlight motor finance provisions and wealth management expansion, as investors seek progress amid market volatility.
KPMG and EY Demote Senior Equity Partners Amid Slump
Big Four firms KPMG and EY are demoting UK senior equity partners to salaried roles, cutting costs as consulting faces slowing demand, AI disruption, and competition.
KPMG and EY Demote Senior Equity Partners
KPMG and EY are downgrading UK senior equity partners to salaried roles, cutting costs amid consulting industry pressures from AI and competition.
Meta to Cut 8,000 Jobs as AI Spending Hits $135bn
Meta Platforms plans to cut 8,000 jobs, roughly 10% of its workforce, as it ramps up AI spending to $135bn, marking one of its largest layoff rounds.
JD Sports Chair Quits After Failed CEO Ouster Attempt
Andy Higginson stepped down as JD Sports chair after failing to convince the board to remove CEO Régis Shultz amid slowing sales and stalled US growth.
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Insurance CEOs See Major M&A Disruption: KPMG
KPMG report reveals over 50% of insurance CEOs anticipate high-impact M&A deals, with AI investment and cybercrime as key concerns.
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