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Financial News reports from the Pensions and Lifetime Savings Association's conference in Liverpool, where the many speakers include Steve Webb, Lenny Henry and Richard Harrington.

Conferences/Exhibitions

Corporate/Industrial News

Broader skills, more influence: Why BlackRock bolstered its leadership team

L&G funds boss among senior execs joining Investment Association board

Jupiter hires former RLAM investment chief Piers Hillier

Lombard Odier hires Charles Russell Speechlys partner for UK wealth team

https://images.fnlondon.com/im-09211004?size=1.5

Sophie Dworetzsky will  become head of wealth planning UK

Kirkland partner Trowbridge leaves for Baker McKenzie

https://images.fnlondon.com/im-60028293?size=1.5

Baker McKenzie boosts its tax team in London with Kirkland hire

North Rock partner Hampus Lundh relocates to Dubai

https://images.fnlondon.com/im-49213235?size=1.42

Lundh joined North Rock earlier this year after working at Millennium for almost a decade

The highly profitable software giant is expected to burn cash for the next three years, but its odds of success are good.

Oracle’s Expensive AI Makeover Is Worth It 

The Chinese automaker joins a wave of companies rushing to list in Hong Kong, which is the top IPO destination so far this year.

Chery Seeks to Raise Up to $1.2 Billion in Hong Kong IPO

Tech leaders at WSJ’s Technology Council Summit said it’s nearly impossible to measure the impact of AI on business productivity. And when we try, we’re measuring it wrong.

Stop Worrying About AI’s Return on Investment

Consequential debates over the path ahead on rates are being upstaged by political theater, including a legal fight over Fed independence and a ‘beauty contest’ succession drama.

What to Watch at the Strangest Fed Meeting in Years

Alphabet’s Google will invest $6.78 billion in the U.K. over the next two years, the latest big-ticket commitment from an American tech giant seeking to expand artificial-intelligence infrastructure and other services in Europe.

Google Pledges Nearly $7 Billion in U.K. Investments

The bank aims to reach a return on tangible equity of 13% in 2028, boosted by a recovery in retail operations and growth at its corporate and institutional banking.

BNP Paribas Targets Higher Profitability in 2028

The administration says it will appeal the decision, which came just before the start of the central bank’s September meeting.

Appeals Court Rejects Trump Request to Remove Fed Governor Lisa Cook

The president argued that companies should report their earnings every six months, a change that would require approval by the Securities and Exchange Commission.

Trump Calls for Ending Quarterly Earnings Reports

Tech and finance companies, many from the U.S., are filling the swankiest spaces in the ancient commercial quarter known as the City.

Apple and Citadel Fuel London Office Boom

The Federal Reserve is expected to cut rates this coming week. Some are betting on a new burst of economic growth.

Wall Street’s ‘Run It Hot’ Trade Powers Stock Records

Mutual-fund giant Capital Group is known for a disciplined approach. One of its top portfolio managers can’t get enough bitcoin.

This Buffett Devotee Is Plowing Billions Into Crypto

Drawn to Dream Exchange’s message of helping Black entrepreneurs, staffers were surprised by its connections to a religious group.

By Kevin T. Dugan and Alexander Osipovich

They Went to Work for a Stock Exchange. Then the Scientology Ties Became Clear.

The payments provider has tried to make its marketing more educational in the lead-up to its initial public offering this week.

Why Klarna’s Formerly Flashy Marketing Might Seem ‘More Boring’

Democrats want CEO Jamie Dimon and other executives to testify about keeping Epstein as a bank client until 2013.

Senators Call for Hearings About JPMorgan’s Ties to Jeffrey Epstein

The U.S. currency’s rise and fall from prominence in the early 20th century offers lessons for today’s political leaders.

The Dollar Lost Its Dominance Once Before. Here Is the Story of Its Rise and Fall.

Could the U.S. Dollar Lose Its Dominance? It Did Once Before

Bill Demchak has already grown PNC into the country’s eighth-largest bank and he is on a mission to challenge the likes of JPMorgan.

The CEO Who Wants to Double the Size of His Bank to $1 Trillion

Peter Mandelson was asked to step down after new evidence of his relationship with the disgraced financier emerged.

British Ambassador to Washington Removed Over Epstein Emails

Larry Ellison’s fortune rose by around $100 billion as multibillion-dollar contracts sent shares surging; they closed up by nearly 36%.

Oracle Shares Skyrocket as Software Giant Scores Massive AI Deals

A copy of a will from January 2019 included Kathryn Ruemmler as a backup executor.

Epstein Once Listed Goldman’s General Counsel as an Executor on His Will

Robinhood Social will allow users to post their trades and track those of public figures, like Meta’s Mark Zuckerberg and former House Speaker Nancy Pelosi.

Robinhood, a Broker Built for Social-Media Age, to Launch Its Own Social Network

The order allows Cook to remain on the central bank’s board for now while her legal challenge proceeds.

Judge Blocks Trump From Removing Fed Governor Lisa Cook

The debut was the latest sign that a long-suffering IPO market is alive and kicking.

Klarna Rises 15% in First Day of Trading on NYSE

Shares in both banks rose as the deal to reshape Italy’s financial landscape is now set to go through.

Italy’s Monte Dei Paschi Secures Control of Mediobanca in Deal Valued at $19 Billion

The Citadel CEO wrote in an opinion piece that President Trump’s attack on the Federal Reserve “carries steep costs.”

Ken Griffin, a Republican Megadonor, Is Wall Street’s Loudest Trump Critic

Ken Griffin, Republican Megadonor, Is Wall Street’s Loudest Trump Critic

Leaders at the world’s most valuable startup have discussed the prospect of moving out of California if regulators complicate OpenAI’s transition to a for-profit company.

OpenAI Executives Rattled by Campaigns to Derail For-Profit Restructuring

A fundraising led by Europe’s biggest tech company gives the region’s top AI contender new firepower in its quest to build homegrown models.

Mistral AI Doubles Valuation to $14 Billion With ASML Investment

The Long-Term Stock Exchange plans to petition regulators to allow public companies to share results less frequently.

The Renewed Bid to End Quarterly Earnings Reports

The 2.9% gain in August keeps the positive times rolling. Plus: A Financial Flashback to 105 years ago, the Wall Street bombing of 1920.

A network of ultrawealthy investors including Peter Thiel and Sam Altman are infusing the longevity industry with cash and making big bets on where the science is headed.

By Shane Shifflett, Amy Dockser Marcus and Alex Janin | Graphics by Rosie Ettenheim

The Billionaires Fueling the Quest for Longer Life

European defense-related IPOs hit at least a ten-year high in 2024, but valuations still trail those of their American peers.

European Defense Companies Ready IPOs Amid Higher Spending, Valuations

The CEO, already the world’s wealthiest individual, stands to receive shares in installments dependent on Tesla hitting a series of milestones.

Tesla Proposes Musk Pay Package Worth as Much as $1 Trillion Over Decade

The bid to create one of the biggest lenders in the eurozone now lies in the hands of Sabadell shareholders.

BBVA Clears Last Hurdle to Open $17.4 Billion Bid to Sabadell Shareholders

A traditionally laissez-faire approach in much of Europe is giving way to more U.S.-style policing of workplace relationships.

Office Romance Rules Catch Up to European Executives

Mark Zuckerberg, Sundar Pichai and Sam Altman saluted the president’s leadership on innovation at an event that underscored the industry’s desire for his favor.

By Katherine Bunt, Meridith McGraw and Meghan Bobrowsky

Tech CEOs Take Turns Praising Trump at White House Dinner

The probe centers on whether the Fed governor submitted fraudulent information on mortgage applications.

By Brian Schwartz, C. Ryan Barber and Will Parker

DOJ Opens Criminal Investigation Into Fed’s Cook, Issues Subpoenas

The Treasury secretary in a court submission said the lower-court loss is already hurting trade negotiations.

Trump Administration Seeks Swift Supreme Court Review on Tariffs

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