City of London hits out at Burnham’s plan to scrap non-compete clauses
Prime minister’s pledge is backed by tech groups but hedge funds and banks say it will damage competitiveness
UK
Private equity can cut ‘best’ deals in current climate, says Permira boss
Lower valuations and reduced competition should help sector to ‘exceptional returns’, says Dipan Patel
JPMorgan bets on European asset management growth
Patrick Thomson, who heads the bank’s asset management business in Europe, said he was ‘bullish on the UK’
Manchester City scandal pushes BDO and UK audit regime into spotlight
Club’s connection with accounting firm is under scrutiny as Premier League findings raise questions over regulatory system
King Charles lends former prince Andrew £1.5mn for Royal Lodge repair bill
Mountbatten-Windsor charged £1.8mn for damage to property in Windsor Great Park but was owed £302,000 in compensation for moving out early
Former Deutsche Bank star trader has rate-rigging conviction quashed
Christian Bittar pleaded guilty in 2018 to manipulating the Euribor rate
Most countries unprepared for bank failures, watchdog warns
Financial Stability Board says only US, UK, Japan and Hong Kong have a ‘credible public sector backstop’ to keep troubled lenders afloat before a sale or wind-down
Hedge funds as systemic risks
And another word on inflation-linked bonds
FT Schools: How to plan a career in finance
A guide for school students and young adults on how to get into the most interesting roles in finance — start early, act fast and do not be afraid to aim high. This report is part of the Financial Times free schools access programme
Why bank stocks are falling despite surging interest rates
If funding costs rise, the expanding profit margins banks have enjoyed may start to reverse
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