The city council of Birmingham announced a deal on Friday to sell NEC Group, the owner of a string of prominent conference and live music venues in the UK, to domestic buyout group LDC for £307m, Press Association reported.

LDC swoops for NEC Group in £307m buyout

Financial News

Wall Street bets big on stablecoins: ‘Circle IPO proved that point’

Izzy Englander’s Millennium hits $14bn valuation amid talks over minority stake sale

Crypto hedge fund Tephra Digital gains 11% in May

Citigroup overhauls debt capital markets team in Europe

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The unit has faced senior departures in recent months. Citigroup has now combined teams and named new leaders

Fidelity International hires Axa IM’s Le Morhedec as global fixed income CIO

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Axa IM veteran joins after more than 20 years with the Paris-headquartered group

UBS UK high net worth boss Chris Oliver resigns

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Global family office boss Michel Frey to take on new City role

Consumer prices rose 3.4% in May compared with a year earlier, down from the 3.5% of April but still well above the BOE target, with oil price rises threatening to keep inflation higher for longer.

U.K. Inflation Eases Slightly Despite Concerns Over Rallying Oil Prices

Oil prices remained volatile and major indexes were mixed in Asia as markets continued to digest the unfolding Israel-Iran conflict amid waning hopes for a quick de-escalation.

Oil Markets Volatile as Investors Watch for Mideast Escalations

Referring to the impact of artificial intelligence, Andy Jassy tells employees, “We expect that this will reduce our total corporate workforce.”

Amazon CEO Says AI Will Lead to Smaller Workforce

Employees’ days are bleeding into the evening, new data show—thanks to a growing load of meetings, emails and, yes, actual work.

More of Us Are Putting in Extra Hours After the Workday

Research Affiliates, which once criticized the popular investing strategies, now sees growing value in them.

Rob Arnott’s Firm Says the Time Is Finally Right for ‘Smart Beta’

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