Refinitiv Cuts 2,000 Jobs after Blackstone Takeover

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Refinitiv Cuts 2,000 Jobs after Blackstone Takeover – Financial News (subscription)

Refinitiv, the financial data and trading company, is in the process of cutting around 2,000 jobs after its takeover by Blackstone, the large private equity group. The group is looking to strip out $650m of costs in a bid to reshape and compete better with rival Bloomberg amid a growing demand for data from banks and fund managers.

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Cleared British FX Traders Put US Justice on Trial

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Cleared British FX Traders Put US Justice on Trial – Financial Times (subscription)

Now, among many other emotions, they are angry. They are asking why, out of all the hundreds of currencies traders in the City of London, they were picked out for a criminal trial. The traders and their lawyers struggle to understand how the long arm of US law can justify trying them away from home based on “hypothetical” victims and the testimony of a single former friend that failed to withstand scrutiny at trial.

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How Brexit Will Redraw Europe’s Financial Infrastructure

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How Brexit Will Redraw Europe’s Financial Infrastructure – Financial Times (subscription)

London will continue to have a crucial role, thanks to the happy accident of geography, which places it at the centre of the global trading day. Being an island off the western continental shelf puts it in a prime position to accept transatlantic cables carrying trillions of dollars of trades from North America to London. Those cable connections have boosted London’s share of foreign exchange global turnover by as much as a third.

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