The writer is vice-chair at Oliver Wyman and was senior adviser to Mark Carney during his stint as governor of the Bank of England“There are no more than five people in the world who understand money,” the investor Hugh Hendry once quipped. After the Bank of…

Global investors have snapped up a record $21bn worth of Chinese equities this year, as robust economic data spurs traders to make larger bets that the reopening rally has further to run.Foreign buying of Shanghai- and Shenzhen-listed shares through Hong Kong’s Stock Connect programme has…

Retail broker Robinhood said it is in talks with the US Department of Justice to buy the $575mn worth of its shares that have become a hotly-contested asset in the collapse of crypto exchange FTX. FTX founder Sam Bankman-Fried bought 55mn shares, worth 7.6 per…

Mattel’s shares tumbled more than 11% in after-hours trading on Wednesday © REUTERS Mattel’s sales dropped by a fifth over the toy industry’s critical holiday season last year, falling short of its expectations as consumers delayed their purchases and retailers ordered less new inventory.“We entered the…

US equities fell in afternoon trade in New York on Wednesday as investors turned cautious on comments from Federal Reserve officials that US interest rates would have to rise to combat inflation.The blue-chip S&P 500 was 0.9 per cent lower as traders’ concerns lingered that…

The City of London Corporation has embarked on a sweeping review of regulations for financial services in the UK as it seeks to boost the Square Mile’s competitiveness.The governing authority for London’s financial centre will push for further regulatory reforms in financial and professional services,…