Upstart outlook comes up short, but CEO says he’s ‘confident’ in value of AI lending

Upstart Holdings Inc. delivered a lower-than-expected revenue forecast for the current quarter, but its chief executive expressed confidence in the performance and value of artificial-intelligence-driven lending. Since Upstart UPST, +9.02% offered preliminary second-quarter results a month ago that fell shy of expectations, the key issue headed into the company’s official earnings report was its outlook. … Read more

Elon Musk Files Response and Counterclaims to Twitter Lawsuit Over $44 Billion Deal

Updated July 29, 2022 6:29 pm ET Listen to article (1 minute) Elon Musk formally responded to Twitter lawsuit seeking to force him to go through with his $44 billion takeover of the social-media platform and included counterclaims against the company. The filing Friday was made confidentially and isn’t viewable by the public. It isn’t … Read more

SFO bosses’ ‘gullibility and arrogance’ slammed in Unaoil fiasco as third conviction quashed

The Serious Fraud Office has been hit with two reports slamming its conduct on the same day the Court of Appeal overturned a conviction related to the agency’s ill-fated Unaoil investigation. At the centre of it all is Lisa Osofsky, the agency’s director, whose actions contributed to overturned convictions, according to the independent report into the … Read more

XTX’s Zar Amrolia: Why ‘Terminator’ robots will never replace human traders

Zar Amrolia started off as a quant at JPMorgan in 1988 when he was in his mid-20s. He drifted into trading and sales, with stints at Credit Suisse and Goldman Sachs, rose to the head of currency trading at Deutsche Bank and eventually became co-chief of XTX Markets. Amrolia will step down in early 2023. Soon to join … Read more

Elon Musk Seeks to Abandon $44 Billion Twitter Deal

Elon Musk Seeks to Abandon $44 Billion Twitter Deal

Why BlackRock is bullish on blockchain, but not bitcoin

BlackRock has no plans to launch a bitcoin product, but is bullish on the blockchain technology that underpins cryptocurrencies, according to one of its most senior executives. “In terms of the underlying technology of blockchain, it is incredibly innovative and incredibly disruptive,” Salim Ramji, global head of iShares and index investments at BlackRock told Financial … Read more

BlackRock exec’s warning: ‘Game over’ for fund manager pay rises

Fund management professionals have been warned that soaring pay and bonuses prompted by an escalating war for talent could soon come to an abrupt end. “The war for talent is real, but some of the pricing that people have been banding around for talent is about to change in a meaningful way,” said Edwin Conway, … Read more

Soft language in DEI may actually make it more difficult to achieve hard results

Soft language in DEI may actually make it more difficult to achieve hard results | Fortune You need to enable JavaScript to view this site.

Klarna CEO draws criticism for posting emails of almost 600 ‘Klarnauts’ who lost jobs

The chief executive of embattled buy-now-pay-later company Klarna drew criticism for publishing a list of the hundreds of employees he has let go. Sebastian Siemiatkowski posted the list on LinkedIn, a week after announcing job cuts for about 10% of Klarna’s global workforce. The 565 so-called “Klarnauts” volunteered to have their names added to the list. The … Read more