Explainer: Major Ethereum upgrade set to alter supply, fix transaction fees
NEW YORK (Reuters) - Ethereum, the second-largest blockchain network, is about to undergo a technical adjustment that will significantly alter the way transactions are processed, as well as reduce the supply of the ether token and sharply boost its price.
France's Amundi reports $8.5 billion in net inflows in Q2
(Corrects to read trillion (not billion), paragraph 5)
Credit Suisse's Archegos post mortem slams management; profit slumps
ZURICH (Reuters) -A "lackadaisical" attitude towards risk and "a lack of accountability" were to blame for Credit Suisse's $5.5 billion loss on investment fund Archegos, according to a review published on Thursday, as the bank reported a near-80% fall in second-quarter profit.
Latest shift to tech leaves Cathie Wood's ARKK in the cold
NEW YORK (Reuters) -A rebound in growth stocks over the last month is doing little to bolster the performance of Cathie Wood's ARK Innovation ETF, which has lagged this year after outperforming all other U.S. equity funds in 2020.
U.S. benchmark rate committee recommends CME SOFR term rates
(Reuters) - A group of banks and investors overseeing the shift of trillions of dollars to the new benchmark U.S. interest rate SOFR said on Thursday that they are recommending the use of the CME Groupâs term SOFR rates in a move that should boost the move away from Libor.
Hear no evil, see no evil: How Credit Suisse ignored Archegos warnings
FRANKFURT (Reuters) - Weeks before Archegos collapsed, Credit Suisse received what would turn out to be one of its final warnings from a junior analyst about the hedge fund's impending disaster. Just as with earlier red flags, stretching back years, it was ignored.
Billions of lockdown savings funnelled to funds
(Reuters) - Asset managers St James's Place, Rathbone and Man Group saw billions of pounds in inflows during the first half of the year, as household savings jumped during COVID-19 lockdowns, their results showed on Wednesday.
Morgan Stanley raises pay for junior bankers, capital markets employees - source
(Reuters) -Morgan Stanley has raised the base pay for first and second-year bankers in its investment banking and global capital markets divisions, a person familiar with the matter told Reuters, following a trend set by Wall Street peers.
China health stocks slammed as investors fear regulators' diagnosis
SHANGHAI (Reuters) - Investors have rushed to exit bets on China's health sector this week, fearing that a regulatory crackdown that sparked panic selling in the tech and education sectors might hit the medical industry next.
China urges insurers to increase offerings for natural disaster coverage
BEIJING (Reuters) -China's banking and insurance regulator said on Thursday that it will guide insurers to increase investment in natural disaster insurance and enrich product offerings.