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Bank of America slams 'volatile' and 'impractical' bitcoin

Financial News
Bitcoin's volatility makes it 'impractical as a store of wealth or payments mechanism'
Bitcoin’s exceptional volatility makes it “impractical as a store of wealth or payments mechanism,” the bank's analysts said
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By
Wednesday March 17, 2021 2:11 pm
Analysts at Bank of America have attacked bitcoin as “exceptionally volatile” and “impractical” in a 17 March research note.
In the note, the analysts said there was “no good reason to own bitcoin unless you see prices going up”.
The analysts said the supply of the cryptocurrency was by design artificially constrained so demand swings are...

United-states , America , Analysts-at-bank , Bank-of-america , Fintech , Bitcoin , News , Cryptocurrencies , Banking , Banking-credit , Financial-services

Mandatory bonus clawback rules could be introduced under audit reform plans

Financial News
Long-awaited audit reform plans to be published this week
By
Wednesday March 17, 2021 1:41 pm
A blueprint for the shake-up of the UK’s audit sector set to be published this week could include plans for the mandatory clawback of bonuses following corporate wrongdoing.
The audit reform whitepaper, due to be published on 18 March, will include proposals for the cancellation or clawback of directors’ bonuses where directors have failed to protect customers' and employees' interests, Sky News reported.
The...

United-kingdom , Sky-news , Beis , Ey , Audit , News , Kpmg , Pwc , Deloitte , Synd , ஒன்றுபட்டது-கிஂக்டம்

Brexit equivalence deal for City is now so unachievable it's 'silly' to bother

Financial News
Brexit equivalence deal for City is now so unachievable it’s ‘silly’ to bother
'Six months from now, people will have almost forgotten there is such a thing as equivalence'
“Six months from now, people will have almost forgotten there is such a thing as equivalence,” said a senior lobbyist at a bank in London
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By
Monday March 15, 2021 12:01 am
There’s a growing consensus forming across the City: The finance sector’s post-Brexit future will be one without equivalence.
Six senior City lobbyists at London’s largest banks and trade groups, as well as regulatory advisers to finance's most senior executives told Financial News that they are now preparing for a Brexit deal that does not hinge on equivalence - where the EU allows those with matching standards access to its markets.

London , City-of , United-kingdom , Financial-news , Brexit , Regulation-government-policy , Corporate-industrial-news , Political-general-news , International-relations , Politics-international-relations , Domestic-politics

London is the destination of choice for Hong Kong's most affluent

Financial News
The BNO scheme provides a direct route to UK citizenship for most Hong Kongers
By
Tuesday March 16, 2021 10:29 am
Hong Kong’s uncertain political future has led to a wave of departures over the past 18 months, with cities from Los Angeles to Vancouver seeing an increase in demand for residential property from residents of the city. But as the pace of Hong Kong emigration accelerates, London is emerging as a clear favourite destination, especially among high-net-worth individuals.
“The view is that while many global destinations provide strong appeal, the UK property market provides a safe haven with a track record of stability and growth,”...

Hong-kong , United-kingdom , Los-angeles , California , United-states , London , City-of , Real-estate , News , Property , Real-estate-construction

Sweden suspends AstraZeneca vaccinations

Suspected side effects have included blood clots, in combination with low levels of platelets in some

Sweden , Swedish , Astrazeneca-covid , Swedish-public-health-agency , European-medicines-agency , Corona-virus , Covid-19 , News , Vaccine , Biotechnology , Pharmaceuticals , Healthcare-life-sciences

Bank of America UK and Ireland chair Mackenzie Smith retires after more than 35 years in the City

Financial News
Investment Banking
Bank of America UK and Ireland chair Mackenzie Smith retires after more than 35 years in the City
Simon Mackenzie Smith is one of the best-known dealmakers in the City
Simon Mackenzie Smith joined Merrill Lynch in 1996 from Morgan Grenfell, the City merchant bank acquired by Deutsche Bank in the 1990s
By
Monday March 15, 2021 12:15 pm
Simon Mackenzie Smith, chair of corporate and investment banking for the UK and Ireland at Bank of America, is retiring.
Mackenzie Smith, one of the best-known dealmakers in the City who has worked with the biggest UK blue-chip companies, is set to step down from Bank of America after 25 years at the bank, according to an internal memo seen by Financial News.

United-states , Ireland , United-kingdom , America , Mackenzie-smith , Simon-mackenzie , Bank-of-america , Investment-banking , News , People , M-amp-a

Trading Places: Volkswagen CFO joins Deutsche board, Citi Europe exec exits

Financial News
Also this week: Monzo co-founder joins startup, Perella Weinberg nabs ex-Morgan Stanley dealmaker
By
Friday March 12, 2021 11:42 am
Deutsche Bank has named Volkswagen chief financial officer Frank Witter as a new member of its supervisory board, replacing Alexander Schütz, the executive who came under fire for email communications with the boss of scandal-ridden payments firm, Wirecard.
Witter's appointment will be voted upon at the bank's annual general meeting in May. He's set to retire from Volkswagen in June. His term was due to end in 2023....

Frank-witter , Volkswagen , Deutsche-bank , Alexander-sch , Monzo , On-the-move , Citigroup , Liberum , Trading-places , News , People , Jp-morgan

Nomura to bolster team of dealmakers as Japan Inc hunts for overseas bargains

Financial News
The bank will add investment bankers as Japanese firms expand beyond their borders
The Japanese investment bank will add dealmakers covering sectors such as business media and technology
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By
Thursday March 11, 2021 12:01 am
Nomura is looking to bolster its team of dealmakers after a surge in cross-border M&A involving Japanese companies has seen the bank rise up the rankings of advisors.
The Japanese investment bank will add dealmakers covering sectors such as business media and technology, its head of advisory in Europe, the Middle East and Africa, Guy Hayward-Cole, told Financial News.
“Following...

Japan , Japanese , Middle-east , Guy-hayward-cole , Nomura , Investment-banking , News , M-amp-a , Banking , Financial-investment-services , Banking-credit

EU ambassador to UK warns Brexit snags may take years to smooth

João Vale de Almeida says UK policymakers needed to accept that leaving Europe's trading bloc, the customs union and single market has 'consequences'

United-kingdom , European-union , Vale-de-almeida , News , Brexit , Political-general-news , International-relations , Politics-international-relations , Domestic-politics , Synd , Political

Greece joins Cyprus with plans to welcome vaccinated Brits from 14 May

Move comes as EU plans to roll out digital vaccine passports

Berlin , Germany , Greece , Greek , Haris-theoharis , Lockdown , Corona-virus , Covid-19 , News , Vaccine , Political-general-news