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...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...The firm has about 600 partners in the US and is the largest member of Grant Thornton International, a network of accounting firms that use a common brand and co-ordinate services worldwide....
...But regulators are studying the liquidity risks being stored up in these strategies, and the potential spillover effects for the wider financial sector....
...Institutional Shareholder Services, another high-profile shareholder adviser, is recommending shareholders vote in favour of Abrdn’s proposals at its meeting....
...Like Hammack, he had previously been talked about as a potential candidate for chief financial officer. Goldman and Millennium declined to comment on Berlinski’s move....
...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...Ellesheva Kissin is a reporter at Banking Risk and Regulation, a service from the Financial Times...
...A judge in Manhattan on Friday declined to issue a temporary restraining order against Millennium Management after Jane Street demanded the hedge fund stop using a secretive international options scheme...
...Several retail brokers, including Robinhood and Interactive Brokers, now offer 24-hour weekday access to US stocks with trades either matched with their internal holdings, or conducted via a “dark pool”...
...The shift makes Citadel Securities the latest financial services company to increase its reliance on Big Tech cloud services and is a win for Google as Silicon Valley companies host more business traditionally...
...Oil and refined products is one area where the available data on supply levels, demand patterns and logistical variables has ballooned in recent years, Barrack told the Financial Times....
Decision hurts David Handler’s chances of securing potentially millions of dollars in equity he sought from the elite M&A boutique
...The Bank for International Settlement’s latest Quarterly Review is out, and it includes an interesting little aside on prime brokerages, the corner of investment banks that service hedge fund clients....
...First is the low interest rate era, which drove down demand for rate hedging services. Second, Brexit has impaired London’s attractiveness as a financial hub....
...In July 2021, the SEC fined UBS Financial Services, now owned by Credit Suisse, $8mn for holding short-term, volatility-linked ETPs for customers longer than designed....
Soon-to-launch venture marks bond pioneer’s third attempt to break stranglehold of Chicago’s CME
...It also applies to European financial regulators....
...The Financial Times last week asked Apollo about its billing practices after the appeals court ruling....
...TPG has invested in partnerships such as talent agency Creative Artists Agency and registered investment adviser LPL Financial in recent years, and last year it made an unsuccessful pitch to buy into in...
...Bhavesh Mistry, British Land’s chief financial officer, said the company estimated that 1mn sq ft of new or refurbished space would be delivered each year from 2024-2027, compared with 2mn sq ft of typical...
...On Monday, the Virginia-based bank said it had agreed to acquire Discover Financial Services for $35bn, to be paid all in stock....
...The Spanish lender hired Morgan Stanley M&A banker David Luwisch, former Jefferies industrials banker David Bradley and former Bank of America financial sponsors banker Andrew Greenwald....
...Because TMTG has become relatively expensive to short, or bet against, “brokers have a significant financial incentive to lend non-existent shares”, Nunes said....
...If buyers must decide whether to pay these brokers themselves, many may opt out. In countries such as the UK, France and Australia, buyers rarely use brokers....
...That’s when he got a call from James Robinson III, who was then the chief executive of American Express and the biggest power broker on Wall Street....
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