The deal is at a discount to OakNorth’s overall valuation, compared to its most recent $440m financing round by SoftBank

Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has participated in a secondary share sale by OakNorth, resulting in the bank closing a $30m investment in the British fintech firm.

SMBC will also become a client of OakNorth’s software arm, which uses artificial intelligence to speed up banks’ loan approval process, to benefit its loan book in the US and Asia.

Japanese bank SMBC takes $30m stake in UK challenger OakNorth

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North of South Capital gets Dubai approval, London partner to lead new office

The big are getting bigger: Survival of the fittest among multi-strat hedge funds

Abrdn names tech chief for investments unit in latest appointment under Jason Windsor

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Alain Courbebaisse will take on role in the new year

Simpson Thacher hires Sidley Austin finance duo in London

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Leveraged finance lawyers are in high demand in London

Trading Places: EY names UK financial services head, BofA promotes 387 MDs

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Find out who is on the move in the City and beyond this week

The Fed’s signal that it will cut rates less than expected complicates efforts by other central banks to manage their economies.

Bank of England Keeps Rates Steady After Fed Move

Palliser Capital doubled down on its call for a review of Rio Tinto’s dual listing in London and Sydney, adding that it now has the backing of more than 100 shareholders.

Activist Investor Widens Call for Review of Rio Tinto’s Dual-Listing

Activist Investor Palliser Capital Widens Call for Review of Rio Tinto’s Dual-Listing Status

In a 12-hour social-media barrage, the world’s richest man led a rebellion against a bill aimed at keeping the government funded.

Musk Draws First Blood With Spending Bill Bombshell 

Aides kept meetings short and controlled access, top advisers acted as go-betweens and public interactions became more scripted. The administration denied Biden has declined.

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How the White House Functioned With a Diminished Biden in Charge

Indexes were lower in Europe’s morning trade, as markets digested hawkish comments from the Fed’s Powell which left investors blindsided, Richard Hunter, Head of Markets at Interactive Investor, said.

European Indexes Fall on Slower U.S. Rate Cut Projections

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