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Morgan Stanley CEO tells staff he’s recovered from Covid-19

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James Gorman contracted the disease roughly three weeks ago but largely worked throughout his illness

US Fed announces new loans scheme to provide $2.3tn in economic support

Fed trying to provide ‘as much relief and stability as we can,’ Chair Powell says

UK accounting watchdog postpones break-up of Big Four

The pause will be reviewed in one month's time

Clifford Chance lands role advising pharma giant on Covid-19 vaccine

Pfizer is providing $185m as an upfront payment to BioNTech for their collaboration

PRA announces business plan and budget increase

Crescent Capital closes new European direct lending fund on €1.6bn

The vehicle, which exceeded its initial €1bn target, is three times larger than its predecessor

Citi commits to job offers for interns as virus rattles summer plans

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Citi becomes the latest bank forced to make changes to its annual teach-in for university students

Fintech investor Index Ventures secures $2bn in fresh funds

The company has invested in a number of well-known fintechs, including Revolut and Robinhood

Blackstone raises more than $10bn for Europe-focused property fund

New fund is almost 26% larger than Blackstone’s predecessor European investment vehicle

UK firms walk a dividend tightrope as banks scrap £14bn in payouts

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Following varying degrees of encouragement and compulsion by regulators, banks and insurers have led the way in suspending shareholder payouts — those pressing ahead risk public anger, commentators warn

Slaughter & May temporarily suspends partner pay

The firm's senior partner sent a memo to all staff announcing that the cash will be retained in the business

Deluge of aid requests from developing world set to hit IMF, World Bank

Property of the Week: A £3.2m boutique penthouse on London’s billionaires’ row

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The three-bedroom unit is being marketed to local downsizers

BlackRock staff told jobs are safe during Covid-19 crisis

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Offers to summer interns and full-time graduate analysts still stand, says Larry Fink

Raymond James hires industrials MD from Canaccord

Alastair Rogers will cover the diversified industrials sector at the European arm of the investment bank

Beware of fee scams amid Covid-19, US derivatives regulator warns

The uncertainties caused by events, such as the coronavirus pandemic, create circumstances that swindlers take advantage of, experts said

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