Coinbase shares jump 50 per cent on debut, valuing it at $100bn April 14, 2021 Coinbase shares jump 50 per cent on debut, valuing it at $100bn
JP Morgan profit soars on higher investment banking fees April 14, 2021 JP Morgan reported a surge in profit in the first quarter boosted by a strong performance in its trading and investment banking divisions. The Wall Street bank posted net income of $14.3bn in the first three months of the year, up from $2.9bn a year earlier. JP Morgan’s performance was driven by the release of [...]
Robert Walters forecasts annual profit to beat expectations after strong first quarter April 14, 2021 Robert Walters has forecast annual profit to be ahead of expectations following a strong performance in its key regions in the first quarter. The recruitment firm, which operates in 30 countries, reported a 11 per cent fall in its group net fee income in the first quarter to £77.3m. It reported a drop in fees [...]
Andy Haldane quits Bank of England to become chief executive of the RSA April 13, 2021 The Bank of England’s chief economist Andy Haldane will leave the bank to become chief executive of the Royal Society of Arts. After three decades at the central bank and seven years as chief economist, Haldane will succeed Matthew Taylor CBE who announced his intention to step down in December. “I have loved my 30 [...]
Glass Lewis opposes re-election of Credit Suisse’s risk chairman April 13, 2021 Proxy adviser Glass Lewis has called on Credit Suisse shareholders to oppose the re-election of board member Andreas Gottschling amid the Greensill and Archegos fallout. The Swiss bank has been mired in controversy in recent weeks due to its exposure to Archegos Capital Management which failed to meet its margin commitments. It came shortly after [...]
US dealmaking pushes global M&A to first-quarter high April 13, 2021 Global M&A is on course for a record-breaking year as pent up demand pushed deal-making to an all time high in the first quarter. The momentum seen in the latter half of 2020 has continued unabated with the M&A market surging in the first three months of the year. The number of deals is up [...]
Credit Suisse pays out another $1.7bn of fund assets linked to Greensill April 13, 2021 Credit Suisse is set to pay out another $1.7bn of funds linked to the now collapsed Greensill Capital. It takes the total distribution to $4.8bn so far, the bank said, following an earlier payout of $3.1bn. The Swiss bank has been mired in controversy in recent weeks due to its exposure to the collapse of [...]
Hays operating profit to beat expectations after strong March hiring April 13, 2021 Hays has forecasted annual profit to be ahead of expectations after hiring activity picked up in some of its key markets last month. In a trading update the recruitment firm said while fees were down 10 per cent in the third quarter there had been encouraging signs of “strong sequential fee growth”. It now expects [...]
US securities regulator steps up scrutiny of blank-cheque vehicles April 13, 2021 The US securities regulator has issued new guidance for special acquisition companies (SPACs) amid concerns they have improperly accounted for warrants sold or handed to investors. SPACs have become a popular route for companies wanting to go public. They are created and listed to raise money with the intention of buying a private company within [...]
S&P 500 breaks through 4,000 mark as FTSE 100 pushes higher April 1, 2021 The S&P 500 broke through the 4,000 mark for the first time today as buoyant tech stocks and optimism about reopenings boosted Wall Street. The index was up 0.8 per cent 4,006 points shortly before 5pm. The Dow Jones and Nasdaq also rose 0.4 per cent and 1.5 per cent respectively. The rapid rollout of [...]
