Decision comes as Big Four group grapples with ‘uncertain’ market conditions

HSBC fired investment bankers on the day they were due to learn their bonus figures and gave no bonuses to many it let go, in a sign of how the bank is taking a more ruthless approach to costs under new chief executive Georges Elhedery.

Level last seen in 2002 as tech-fuelled equity rally throws up red flag on ‘Fed model’

'Material risk takers' will be eligible for awards of up to 10 times their fixed pay

Big US banks have relied on traders for at least 75% of their Wall Street revenues for more than three years

Investors piled into fixed income in bet on falling interest rates

FT story: Hedge fund tells clients many supposed applications of the technology are ‘never going to actually work’

FT story: Prices of stocks and other risky assets plunged on Monday as a sell-off that began last week accelerated, after Friday’s weak US jobs report stoked fears of a recession in the world’s biggest economy. US central bank needs ‘supersized’ 50bps rate cut in Sept or risk recession.

FT story: Office politics is not optional: learn to play the game or you’ll be its victim

OpenAI has signed about $1tn in deals this year for computing power to run its artificial intelligence models

Global dealmaking is up by a third this year, setting 2025 up to be the best 12-month stretch since 2021

Price has rocketed 50% this year, its best performance since 1979, as institutional investors pile in