San Francisco Eyes Hedge Funds' AI Boom
San Francisco aims to attract hedge funds and AI firms, boosting its economy amid a tech resurgence. The city offers tax incentives and talent pool.
Category : Corporate
Rolls-Royce fixes Trent engines, targets narrowbody market
Rolls-Royce resolved Trent engine durability problems, boosting profits 40% to £3.5bn. Now it seeks UK government support to re-enter the narrowbody jet engine market with UltraFan technology.
Arsenal eye John Stones free transfer after Saliba injury
Arsenal are considering a free transfer for John Stones to cover William Saliba's potential five-month absence due to a back injury sustained at the World Cup.
Wessex Water CEO pay rises 14% despite sewage bonus ban
Wessex Water CEO Ruth Jefferson received a 14% base salary increase to £670,000, despite a bonus ban over sewage spills, putting her pay at 18 times the median employee.
Veteran gamer quits modern gaming over corporate greed
A 49-year-old reader explains why he is giving up on modern gaming, citing corporate greed, high costs, and a loss of creative soul, as he turns to retro gaming.
Inside Google DeepMind: Can an Ethicist Shape AI's Future?
Iason Gabriel has worked as a philosopher at Google DeepMind since 2017, trying to anticipate AI's impact. But as commercial and geopolitical pressures escalate, can ethicists make a difference?
AWS Glitch Sends $1.5 Trillion Bills, Apologizes
A global glitch in Amazon Web Services' billing system caused customers to receive invoices up to $1.5 trillion, sparking panic and confusion before AWS apologized.
Can A&O Shearman Turn Profits into Growth?
A&O Shearman faces challenge of converting strong profitability into revenue growth post-merger, with revenue falling 4% in first full year.
Wall Street at Risk from AI Bust
A collapse in AI stocks could trigger a 30% drop in Wall Street bank earnings, according to a new analysis, as the sector's boom fuels a significant portion of investment banking fees.
St James's Place legal action moves closer with funding deal
A legal claim against St James's Place moves closer as law firm signs a funding agreement with a litigation funder, potentially affecting thousands of investors.
Kenneth Ashcroft, finance director at major UK firms, dies at 91
Kenneth Ashcroft, who held senior financial roles at Ford, Comet, Next, Dixons, and Amstrad, has died aged 91. He helped save Comet from bankruptcy and oversaw Next's creation.
Teen drives 70 miles with mum to recover laptop from scammers
Blake Walker, 18, drove 70 miles with his mother to confront scammers after being tricked into sending his £650 Apple MacBook on eBay. They recovered the laptop from a restaurant in Essex.
Point72 Hires from Balyasny for Systematic Trading
Point72 has hired a senior systematic trader from Balyasny Asset Management to strengthen its quantitative business, according to sources.
London lags behind G7 cities in tax powers, report finds
London has the weakest tax powers of any major G7 city, with less than a quarter of its budget funded by local taxes. Devolution could add £10.5bn to UK economy, says Centre for Cities.
Citi Private Bank Chief of Staff Moves to HSBC
Citi Private Bank's chief of staff has left the firm to join HSBC, marking a significant senior-level departure from the US bank's wealth management division.
Adam Thomas friends fear new look is cry for help
Adam Thomas' friends are worried his new look is a 'cry for help' after his sauce brand Oh My Glaze lost £55,000, leaving the company £21,055 in debt with only £290 cash reserves.
A&O Shearman Partner Pay Rises to $2.9M
A&O Shearman partner pay rises to $2.9M, a 20% increase, despite flat revenue of $3.5B in 2024, according to law firm financials.
Pallas Partners raises first-year lawyer pay to £235k
Pallas Partners has raised starting salaries for first-year lawyers to £235,000, surpassing Magic Circle firms and setting a new benchmark in London's legal market.
Hedge Fund Managers Move to Jersey Over Middle East
Hedge fund managers are increasingly relocating to Jersey as a stable, tax-efficient alternative to the Middle East, driven by regulatory changes and lifestyle preferences.
Citi’s Andy Sieg Overhaul Transforms Wealth Division
Citi brought in Andy Sieg to overhaul its wealth division, and the strategy is working, with significant growth in client assets and revenue.
London City Lionesses' Transfer Spree Raises Salary Cap Questions
London City Lionesses have signed stars like Alexia Putellas and Mary Earps, sparking debate on how they comply with the WSL salary cap, given their £902k revenue and £10.6m loss.
Hungary's Szijjártó joins BYD amid conflict of interest queries
Hungary's former foreign minister Péter Szijjártó joins Chinese carmaker BYD, prompting PM Magyar to question Orbán's interests in battery investments.
Man Utd target Summerville if Rashford leaves
Manchester United will pursue Crysencio Summerville for £30m if Marcus Rashford leaves. West Ham open to selling after relegation.
Man Utd to bid £30m for Summerville to replace Rashford
Manchester United plan a £30m bid for West Ham's Crysencio Summerville to replace Marcus Rashford, with Arsenal also interested. United have already signed Andrey Santos and Youri Tielemans this summer.
Walkers confirms KFC crisp comeback after five years
Walkers is bringing back its KFC collab crisps — Original Chicken permanently and Zinger for a limited time — after fans begged for five years.
Summer Transfer Window Heats Up for Sports Lawyers
The summer transfer window is driving demand for sports lawyers, with clubs spending record sums and navigating complex regulations.
Meta sued for using AI to target sick leave employees for layoffs
26 Meta employees file lawsuit accusing the company of using AI-powered software to disproportionately target disabled workers and those who took sick leave for mass layoffs.
BlackRock Assets Top $15tn on ETF Growth
BlackRock's assets under management exceeded $15 trillion for the first time, driven by record ETF inflows and market gains, the firm reported in its Q4 earnings.
Aztec Group poaches BlackRock MD for CCO role
Aztec Group has appointed a BlackRock managing director as its new chief commercial officer, signaling expansion plans in asset servicing.
Cravath London capital markets co-head departs for A&O Shearman
Cravath Swaine & Moore's London capital markets co-head is leaving for A&O Shearman, marking another senior departure from the US firm's UK office.
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