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...BASF and Munich Re said their choice of chairs respected the two-year cooling-off period required by German rules....
...Brussels is to impose its first ever fine on tech giant Apple for allegedly breaking EU law over access to its music streaming services, according to five people with direct knowledge of the long-running...
...EY has appointed Janet Truncale, the head of its financial services business in the Americas, to be its next global chief executive, putting a woman in charge of a Big Four accounting firm for the first...
...EY, which pursued its own plan to spin off its consulting arm, feared ceding a first-mover advantage to PwC....
...De Vusser, a Belgian, will be the first European to run Bain in its 50-year history. His appointment was announced to partners on Monday and to the firm’s 19,000 employees on Tuesday, the people said....
...She added that the two active ETF strategies create “an important new avenue of choice and further access to investing”....
...They function as a place for depositors to safely store their cash and obtain other financial services beyond loans....
...Mark Mason, chief financial officer, told reporters that 7,000 employees had been given notice that their jobs had been eliminated since the reorganisation began, 2,000 more than the bank had previously...
...Delta Air Lines last week raised the price of checking in a first bag from $30 to $35....
...“We aim to offer our clients choice of strategy across index and active and choice in wrapper across mutual funds, ETFs, CITs and separately managed accounts to help them meet their investment objectives...
...This article picked by a teacher with suggested questions is part of the Financial Times free schools access programme. Details/registration here. Read our full range of economics picks here....
...Most of the nearly $500bn increase in assets under management in the first quarter was due to rising equity markets. In the US, the S&P 500 had its best first quarter since 2019....
...The first two didn’t respond, but in a statement Tradeweb’s Billy Hult said: “Obviously I hate to disappoint, but as Doug knows I saved most of my swearing for the golf course.”...
...It is the first antitrust challenge against Apple under Biden’s administration, which is pursuing antitrust cases against some of the biggest Silicon Valley companies....
...Greater user choice may sound fine in theory, they argue, but it will challenge fundamental aspects of how services work. To some extent, this reflects special pleading by the tech companies....
...ETFs accounted for 51 per cent of underlying assets at the end of last year, up from 46.7 per cent in early 2022, according to data from Broadridge Financial Solutions, a financial technology company, which...
...His successor may have tough choices to make as private markets get more crowded and managers increasingly seek to maximise fees rather than performance....
...But, as with all things in financial services, the hand that giveth is the hand that takes away....
...“And [they are] emblematic of what the DMA is supposed to deliver when it comes to choice for consumers.”...
...Merchants will for the first time be able to assess customers different rates for all cards, rather than being able to differentiate based only on the credit card network....
...“No matter the company’s attempt to switch focus from subscribers to financials, net [subscriber] adds is the key metric everyone wants to see,” he said....
...The letter of interest, which was first reported by Sky News, comes a year after the collapse of EY’s plan to split its accounting and advisory arms....
...The knock-on effect means the ageing Vanguard-class submarines, which entered service during the 1990s, must remain in service far beyond their original 25-year lifespan....
...Another 50 cents is collected by the merchant acquirer, or companies such as Block or Stripe that provide the shop’s point-of-sale service system....
...Overall, active and passive ETFs pulled in nearly $195bn in the first quarter, with industry leaders BlackRock and Vanguard amounting for roughly half of those inflows....
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