Robinhood has embodied the market mania of the past two years like few others.

The online brokerage was a key part of an investing revolution at the start of the Covid-19 pandemic, as an army of new investors turned the platform into a trading powerhouse.

In January 2021, users and activity spiked as day traders inspired by social media platforms...

Daron Acemoglu, professor of economics at MIT, is co-author of “Why Nations Fail: The Origins of Power, Prosperity and Poverty” (Profile, 2019) and “The Narrow Corridor: States, Societies, and the Fate of Liberty” (Penguin, 2020)

Environmental tariffs may be humanity’s last hope for mitigating climate change, which is on course to become increasingly devastating if we do not curb our greenhouse-gas emissions.

The...

Zar Amrolia started off as a quant at JPMorgan in 1988 when he was in his mid-20s. He drifted into trading and sales, with stints at Credit Suisse and Goldman Sachs, rose to the head of currency trading at Deutsche Bank and eventually became co-chief of XTX Markets.

Amrolia will step down in early 2023. Soon to join as deputy CEO will be Hans Buehler — a quant from JPMorgan. “Life has come full circle,” Amrolia jokes.

He...

Jeffrey O’Connor is a senior execution consultant and market insight analyst for US equities at Liquidnet

The recent surge in retail trading is important for the vibrancy of capital markets and the price formation process.  However, the market structure which underpins elements of equity trading has also come under severe criticism by these new entrants.

This...

Corporate law has a deeply ingrained culture of long hours in the office. Junior lawyers get the worst of it.

One apocryphal anecdote has circulated through the years: Slaughter and May M&A legend Sir Nigel Boardman once asked a junior who was standing up to reach for their coat at the end of a working day if they were cold. The idea they were going home so early in the evening was absurd.

That...

Rothschild & Co has elevated the UK's former top civil servant to its board, as the independent investment bank unveiled record results for its advisory unit this year.

Lord Mark Sedwill has been named as a member of Rothschild's supervisory board, the bank said in a statement, taking over from Anthony de Rothschild, the 44-year-old member of the banking family who will remain as a senior adviser to the group.

Lord...

Short-seller Carson Block, founder and chief investment officer of Muddy Waters Capital, spoke with Financial News in a Barron's Live event earlier this month. The influential investor discussed the wild ride in markets this year, and how he approaches conditions he says are hard for short-sellers.

Below is an excerpt from the interview. It has been edited for length and clarity.

On...

Cryptocurrency exchange Coinbase has filed an application to be approved as a futures provider, as it seeks to join the crowded digital assets derivatives market.

Coinbase said it had applied for membership with the National Futures Association, a top self-regulatory body in the US, as a futures commission merchant on 15 September.

The move...

Financial News is pleased to announce the shortlists for the Asset Management Awards 2021.

We will be releasing the names of the nominees in three to four categories each day until 17th September. All the shortlists can be found below and they will be updated every morning.

The winners will be announced via a live blog at 4pm BST on 21st October....

Morgan Stanley is set to grow its debt capital markets and leveraged finance business as revenues in the sector have remained high throughout 2021, says chief operating officer Jonathan Pruzan.

The Wall Street bank, which has typically lagged US rivals in DCM, will "continue to grow" its debt advisory business, Pruzan told an industry conference on 14 September.

"The...

The Criminal Cases Review Commission has confirmed it is aiming to issue a decision in October on whether to refer convicted Libor rigger Tom Hayes’ case to the Court of Appeal.

The CCRC, an independent body responsible for investigating suspected miscarriages of justice, told lawyers for the former UBS and Citigroup trader that while it was close to completing its decision-making process on Hayes’ case, a decision would likely not be forthcoming until next month at the earliest.

In...

The UK's trade body for asset managers has added a cohort of heavyweight industry executives to its board, but remains unclear if it has addressed criticism received over a lack of ethnic diversity.

Among the seven new additions to the Investment Association's board are BlackRock's Stephen Cohen, who heads the US asset manager's business in Europe, the Middle East and Africa, as well as Schroders chief executive Peter Harrison.

Sean...

Big Four audit firm PwC UK has said that 14% of its staff come from working class backgrounds and tend to receive lower pay packets than their peers.

The firm said staff from a lower socio-economic background were paid a median 12.1% less than their colleagues, according to pay gap data based on parental occupation which the firm has published for the first time.

“Closing...

Rothschild & Co has elevated the UK's former top civil servant to its board, as the independent investment bank unveiled record results for its advisory unit this year.

Lord Mark Sedwill has been named as a member of Rothschild's supervisory board, the bank said in a statement, taking over from Anthony de Rothschild, the 44-year-old member of the banking family who will remain as a senior adviser to the group.

Lord...

Financial News is pleased to announce the shortlists for the Asset Management Awards 2021.

We will be releasing the names of the nominees in three to four categories each day until 17th September. All the shortlists can be found below and they will be updated every morning.

The winners will be announced via a live blog at 4pm BST on 21st October....

Short-seller Carson Block, founder and chief investment officer of Muddy Waters Capital, spoke with Financial News in a Barron's Live event earlier this month. The influential investor discussed the wild ride in markets this year, and how he approaches conditions he says are hard for short-sellers.

Below is an excerpt from the interview. It has been edited for length and clarity.

On...

Cryptocurrency exchange Coinbase has filed an application to be approved as a futures provider, as it seeks to join the crowded digital assets derivatives market.

Coinbase said it had applied for membership with the National Futures Association, a top self-regulatory body in the US, as a futures commission merchant on 15 September.

The move...

Financial News is pleased to announce the shortlists for the Asset Management Awards 2021.

We will be releasing the names of the nominees in three to four categories each day until 17th September. All the shortlists can be found below and they will be updated every morning.

The winners will be announced via a live blog at 4pm BST on 21st October....

Morgan Stanley is set to grow its debt capital markets and leveraged finance business as revenues in the sector have remained high throughout 2021, says chief operating officer Jonathan Pruzan.

The Wall Street bank, which has typically lagged US rivals in DCM, will "continue to grow" its debt advisory business, Pruzan told an industry conference on 14 September.

"The...

The Criminal Cases Review Commission has confirmed it is aiming to issue a decision in October on whether to refer convicted Libor rigger Tom Hayes’ case to the Court of Appeal.

The CCRC, an independent body responsible for investigating suspected miscarriages of justice, told lawyers for the former UBS and Citigroup trader that while it was close to completing its decision-making process on Hayes’ case, a decision would likely not be forthcoming until next month at the earliest.

In...

The UK's trade body for asset managers has added a cohort of heavyweight industry executives to its board, but remains unclear if it has addressed criticism received over a lack of ethnic diversity.

Among the seven new additions to the Investment Association's board are BlackRock's Stephen Cohen, who heads the US asset manager's business in Europe, the Middle East and Africa, as well as Schroders chief executive Peter Harrison.

Sean...

Big Four audit firm PwC UK has said that 14% of its staff come from working class backgrounds and tend to receive lower pay packets than their peers.

The firm said staff from a lower socio-economic background were paid a median 12.1% less than their colleagues, according to pay gap data based on parental occupation which the firm has published for the first time.

“Closing...

Rothschild & Co has elevated the UK's former top civil servant to its board, as the independent investment bank unveiled record results for its advisory unit this year.

Lord Mark Sedwill has been named as a member of Rothschild's supervisory board, the bank said in a statement, taking over from Anthony de Rothschild, the 44-year-old member of the banking family who will remain as a senior adviser to the group.

Lord...

Short-seller Carson Block, founder and chief investment officer of Muddy Waters Capital, spoke with Financial News in a Barron's Live event earlier this month. The influential investor discussed the wild ride in markets this year, and how he approaches conditions he says are hard for short-sellers.

Below is an excerpt from the interview. It has been edited for length and clarity.

On...