Bank of England rebuffs calls to speed up ‘shadow banking’ stress test Regulation The Bank of England has rejected calls to speed up its inaugural stress test of the private credit industry, despite growing fears that a downturn in so-called shadow banking may pose a systemic threat to the global financial system. In a letter to the House of Lords’ Financial Services and Regulation Committee seen by City [...]
Who is Kevin Warsh, the man expected to become the next Fed chair? Business US President Donald Trump has said he will name his pick for Federal Reserve chair on Friday, ending months of speculation over who will replace Jerome Powell at the head of the US central bank. Trump said on Thursday evening that he would confirm the name of his candidate “tomorrow morning”, somebody who “is very [...]
Big Tech’s AI borrowing boom tests US bond market Tech Big Tech is on track to become the dominant force in the US corporate bond market, as the race to build AI infrastructure drives an unprecedented surge in borrowing that is beginning to worry investors. By the end of the decade, around half of the 10 largest borrowers in the US bond market will be [...]
Elon Musk’s Space X in talks with Wall Street banks over mega IPO January 23, 2026 Elon Musk’s aerospace firm Space X is holding early-stage discussions with a flurry of leading Wall Street banks about a potential listing that could rank among the largest market debuts ever. According to the Financial Times, the company is considering Morgan Stanley, Goldman Sachs, JP Morgan Chase and Bank of America for senior roles on [...]
Goldman Sachs leads Wall St boom amid trading frenzy and deal-making January 16, 2026 Wall Street giants were riding high following this week’s round of earnings updates after months market volatility and deal-making helped take trading revenue to record highs. Goldman Sachs led the surge pocketing $4.3bn in equities trading revenue in the last three months of the year – a record for Wall Street banks. Meanwhile, the banks [...]
Wall Street banks toast to $130bn revenue in deal making boom October 15, 2025 Wall Street banks raked in bumper profits, comfortably breezing past analyst expectations in the third quarter, driven by the continued strength of trading desks and a sharp revival in deal making. JP Morgan, Goldman Sachs and Citigroup brushed past estimates on Tuesday, with Jamie Dimon’s banking juggernaut collecting $14.4bn (£10.8bn) in profit – a 12 [...]
The Pimco boss who thinks philanthropy has a PR problem September 24, 2025 John Studzinski may be one of the City’s most senior bankers, but he is arguably best known for his exploits beyond the Square Mile and Wall Street; namely in the space of philanthropy. Ali Lyon talks to him about his aims to reshape the way people think about ‘giving’, and why he doesn’t like the [...]
Banking net zero club to change structure after member exodus August 27, 2025 The global banking industry’s climate group will hold a vote on the future of its structure following a mass exodus of members. The Net-Zero Banking Alliance (NZBA) will determine whether it will transform from a membership-based alliance to a “new framework initiative”. It comes after the world’s banking giants fled the group as the financial [...]
How the banking net zero fantasy ran out of gas August 20, 2025 Over the past year, the world’s biggest banks‘ net zero enthusiasm has quickly and quietly dried up. Top lenders have backtracked, diluted or outright abandoned their environmental, social and governance (ESG) policies. The return of President Donald Trump has been highlighted as a turning point for green finance with firms across the financial industry turning sour [...]
Uptick in Canary Wharf office values after years of decline August 15, 2025 After several years of declining property valuations in Canary Wharf, the East London area is experiencing a modest recovery as the value of its largest offices rises for the first time in years