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IMF downgrades already-glum economic outlook due to pandemic

The world has made less progress than expected in April in terms of combating the pandemic and salvaging businesses, and so the forecasts have deteriorated

HSBC hires Deutsche veteran to lead investment banking unit

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Adam Bagshaw has spent the past 14 years at Deutsche Bank and also headed up its financial sponsors business in Europe

Deutsche Bank reorganises European investment bank after Bagshaw departure

Companies could face stress testing post pandemic, CEO of Man Group says

Luke Ellis said he thought that corporates may also face limits in the amount of financial leverage they can run

‘Massive’ forgery helped hide $3bn hole in energy trader’s accounts

The two-month investigation found the group overstated assets and pointed to a $2.23bn shortfall in payments due from customers, while inventory stockpiles were apparently inflated by $812m

America’s pandemic response is storing up a nasty shock for the US dollar

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US policymakers have long believed that American exceptionalism applies to the laws of economics, but that may be about to change

Blackstone to bypass scramble for investment-bank talent in effort to diversify

Officials at Blackstone, which doesn’t disclose overall diversity figures, acknowledge they have a lot of work to do to transform a business that is still overwhelmingly white and male, especially in its uppermost ranks

Hedge funds amp up gold holdings as prices soar: ‘The only way gold can go is up’

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Stone Mountain Capital is among hedge funds and other firms piling into gold, sending prices to multi-year highs

Carlyle finds financial utility in ESG data

Jeanologia’s equipment is used to produce about 15% of the 6 billion pairs of jeans made annually world-wide, and it cut the amount of water used in manufacturing the clothing by roughly 10.7 million cubic meters last year

Barclays Private Bank CEO joins Ontario Teachers to lead $47bn equities unit

Karen Frank will oversee the private capital and high conviction equities teams

PwC, EY and Oliver Clive & Co. to be investigated over audits of collapsed London Capital & Finance

The mini-bond investment firm collapsed in January 2019, owing thousands of people more than £230m

Staveley’s dealings with Abu Dhabi royalty under the microscope

On the eleventh day of the trial, the bank's lawyer focused on Staveley's personal relationship with Sheikh Mansour

Nordic PE firm FSN wins €87m in dispute with rival over acquisition

Procuritas was ordered to pay damages after it was found liable for failings at a portfolio company

European PE has worst half-year for deals since financial crisis amid pandemic

Deal value, held up by a smaller number of large investments, was €41.1bn in the first half of the year, only down 7% year-on-year from €44.3bn

MW Mastercard scoops up open-banking company Finicity in big digital push

Finicity has relationships with banks and other financial providers, and the company helps third-party platforms leverage financial credentials in a secure platform

Credit Suisse reviews funds connected to SoftBank-backed firm

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The four funds have about $7.5bn in assets under management, down from more than $9bn at the end of last year

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