AstraZeneca's non-deal: Soriot must clarify M&A strategy
AstraZeneca's shares fell 9% on reports of a BMS takeover, but talks are off. CEO Soriot must explain his M&A vision, as shareholders question the strategy.
Category : Corporate
Citigroup CEO Jane Fraser: 'I'm Not Ruthless, But I'm Damn Tough'
Citigroup CEO Jane Fraser defends her radical overhaul, citing progress and a leaner structure, while admitting the bank has 'a long way to go'.
Hedge Funds That Survived AI-Led Bloodbath
Hedge funds using AI-driven strategies faced heavy losses in August, but some managers navigated the turmoil. Here's who came out ahead.
BNP Paribas AM to Merge Funds After AXA IM Deal
BNP Paribas Asset Management will begin merging funds following its acquisition of AXA IM, aiming to streamline operations and enhance efficiency.
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Equity Traders Tipped for 30% Bonus Boost
Equity traders at major banks are set for a 30% bonus increase this year, driven by strong market volatility and trading volumes, according to a new industry survey.
Dyavol Spirits Vodka UK Launch
Dyavol Spirits, a new premium vodka brand, launches in the UK, offering a unique blend of tradition and innovation, targeting the growing premium spirits market.
BofA Names Mutasa, van Hooijdonk to Head EMEA Deals
Bank of America has promoted Tafadzwa Mutasa and Marc van Hooijdonk to co-heads of EMEA M&A, effective immediately, as part of a broader leadership reshuffle.
HSBC Signals Bonus Hike as Revenue Jumps 6.5%
HSBC reported a 6.5% rise in annual revenue to $66.1bn, prompting expectations of higher bonuses for staff as profits beat forecasts.
Stock Trading Boom Boosts European Bourses
European bourses saw record trading revenue in 2020 as retail investors flooded markets, with volumes up 40% and profits soaring.
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Baillie Gifford worst-selling fund group as £4bn pulled
Baillie Gifford became the UK's worst-selling fund group in 2023 as investors withdrew almost £4 billion, according to data from Calastone.
AstraZeneca Should Stick to Its Winning Formula, Not Mega-Merger
AstraZeneca's CEO Pascal Soriot has a proven strategy of smart licensing and partnerships, so a $400bn BMS merger is baffling and risky, potentially spoiling his legacy.
AstraZeneca in talks to buy Bristol Myers Squibb
AstraZeneca is in talks to acquire Bristol Myers Squibb, creating a near-$400bn pharma group, the world's fourth-largest drugmaker.
Capital One: Trump accounts closed over AML review
Capital One filed to dismiss Trump Organization's lawsuit, citing anti-money-laundering review as reason for closing accounts, marking first formal bank tie of money-laundering concerns to Trump's business.
Reinventing Vending Machines: What Should They Sell?
Vending machines sell sausages in Germany, but what else should they offer? Readers propose fresh, healthy, and eco-friendly options for the future of automated retail.
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Hedge Funds Join FN Panel on Talent War
Hedge fund managers and hiring experts will discuss the intensifying talent war in finance at a Financial News panel, focusing on recruitment challenges and strategies.
Ex-St. James's Place CEO Takes Quanta Directorship
Former St. James's Place CEO David Bellamy has been appointed as a non-executive director at Quanta, the specialist insurance technology firm, effective immediately.
Shell profits double to $9.8bn, sparking windfall tax calls
Shell's Q2 profit doubled to $9.8bn amid Middle East crisis, prompting environmentalists to demand a windfall tax to support households.
Rolls-Royce, BAE Systems lift profit forecasts on defence
Rolls-Royce and BAE Systems upgraded profit guidance as global defence spending rises, with Rolls-Royce shares jumping 5%.
Euronext Sees Double-Digit Growth on Data, Equities
Euronext reports double-digit revenue growth driven by strong data services and equities trading, with Q3 revenue up 11% to €385 million.
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St James's Place Record Funds Under Management 2024
St James's Place reported record funds under management of £174.2bn in 2024, driven by strong net inflows and market performance, despite regulatory challenges.
Schroders CEO Jets to Chicago for Nuveen Deal Closing
Schroders CEO Peter Harrison flew to Chicago as the acquisition of Nuveen from TIAA nears completion, marking a major expansion for the UK asset manager.
European Bankers See Deal Gains as US Rivals Surge
European banking executives expect dealmaking gains as Wall Street rivals pull further ahead, according to a new survey.
Firmdale Hotels Reports Record Turnover Ahead of 2026
Firmdale Hotels achieved record turnover of £164m in 2023, driven by strong demand, with plans to open two new London hotels by 2026.
Debunking Snowflake Myth: Gen Z Talent
New study finds Gen Z employees are more resilient and ambitious than stereotypes suggest, challenging the 'snowflake' label.
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Papa John's manager wins unfair dismissal case over tax
A Papa John's manager in Harlow had police called on him after refusing cash-in-hand pay. He won an unfair dismissal claim against his franchise employers.
LSEG Record First Half, £700m Buyback
LSEG reported a record first half in 2024, with revenue up 8.1% to £4.2bn, and announced a £700m share buyback programme.
Houlihan Lokey CEO: Mid-Market M&A Party Yet to Start
Houlihan Lokey's CEO says the mid-market M&A recovery hasn't begun despite a revenue dip, with deal activity expected to pick up in 2025.
Key Metrics to Assess Before Buying Shares: A DIY Guide
Before buying shares, research financial health and returns using metrics like P/E ratio, ROE, and dividend yield to spot warning signs and make informed decisions.
BMW to cut thousands of jobs in Germany
BMW announced plans to cut thousands of jobs in Germany as it faces intense pressure from Chinese rivals in the electric vehicle market.
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Liverpool prepare opening offer for PSG's Bradley Barcola
Liverpool are preparing an opening offer for PSG forward Bradley Barcola, valued at £145m, as the 23-year-old is open to a Premier League move.
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