Clapped into the Treasury in June 2007, the new chancellor Alistair Darling was picked as a safe pair of hands, cast in the new Labour mould of managerial ministers. Darling’s old friend from Scottish politics, Gordon Brown, had been impressed by his smooth running of the transport department, keeping it off the front pages after
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Nashville skyline at dusk. John Greim | LightRocket | Getty Images Over the past 30 years, Nashville, Tennessee — a city known for country music — has seen a flood of transplants moving from higher-cost cities. For new residents, “everybody has a different story,” said Jeff Hite, chief economic development officer of the Nashville Area
The suggested treatment of municipal securities as posted collateral in the Basel III endgame proposal has garnered mixed reactions from experts and market participants. While some argue that it could enhance liquidity and stability in the market, others express concerns about the potential risks and challenges associated with valuing and monitoring these securities. It is
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A top US official said Washington was “profoundly concerned” about Turkey’s role in facilitating Hamas’s access to international finance, underscoring how the war in Gaza is fuelling rising tension between the Nato allies. Brian Nelson,
Less than two years after its inception in April 2022, the national Equity in Infrastructure Project reached 56 signers during a conference held in downtown Los Angeles last week. The project asks for pledges to double the number of contracting opportunities for historically underserved businesses on infrastructure projects that use federal funds. Pubic agencies and
The United States Securities and Exchange Commission (SEC) called on the public to comment on a proposed rule change that could allow asset management firm Fidelity to offer shares of its spot Ether exchange-traded fund, or ETF. In a Nov. 30 notice, the SEC said “interested persons” may comment on the Fidelity offering, proposing the
Business intelligence firm MicroStrategy purchased 16,130 Bitcoin (BTC) in November, bringing its total holdings to more than $6 billion. In a Nov. 30 announcement, MicroStrategy co-founder Michael Saylor said the company acquired the BTC for roughly $593.3 million — a price of $36,785 per Bitcoin. As of Nov. 29, MicroStrategy reported it held 174,530 BTC
We’re rolling out one genuine use case for AI and crypto each day this week — including reasons why you shouldn’t necessarily believe the hype. Today: How blockchain can fight the fakes. Generative AI is extremely good at generating fake photos, fake letters, fake bills, fake conversations — fake everything. Near co-founder Illia Polosukhin warns
Pending home sales, a measure of signed contracts on existing homes, dropped 1.5% in October from September. They hit the lowest level since the National Association of Realtors began tracking this metric in 2001, meaning it’s even worse than readings during the financial crisis more than a decade ago. Sales were down 8.5% from October
Detached houses on a large housing development on the western side of Nashville, Tennessee. Georgeclerk | Istock | Getty Images Nashville natives say they barely recognize the city’s skyline anymore. And they probably won’t anytime soon, as cranes still litter the picture. The Nashville building boom is in full effect, despite higher interest rates, higher
Twin Rivers Farm could break records as Tennessee’s priciest home if it fetches its $65 million asking price. The property is located just 30 miles southwest of Nashville in the suburb of Leipers Fork, known for attracting high-net-worth individuals and celebrities such as Justin Timberlake and Nicole Kidman. “It’s one of the most significant real
Bitcoin (BTC) brushed off fresh United States macro data into the Nov. 30 Wall Street open as traders focused on the monthly close. BTC/USD 1-hour chart. Source: TradingView PCE keeps Fed pivot pressure alive Data from Cointelegraph Markets Pro and TradingView showed BTC price movements sticking to a narrow intraday range below $38,000. After a
Stay informed with free updates Simply sign up to the Climate change myFT Digest — delivered directly to your inbox. The United Arab Emirates is preparing to launch a $30bn climate-related investment fund with BlackRock, TPG and Brookfield, according to people familiar with the matter. The launch comes as the UAE attempts to bolster its
Pudgy Penguins minted in July 2021, but quickly saw high drama after its former founder came under suspicion he was going to rug the project. A few months later Luca Schnetzler stepped in. With an entrepreneurial streak since his early teens he had a history of building internet businesses and bought the project and its
The American dream, a term first used by a Depression-era historian named James Truslow Adams, is all about upward mobility. Any US citizen, if they work hard, should be able to not only succeed, but rise above the station of their parents. In The Epic of America, published in 1931, Adams acknowledged that the ongoing
Federal Reserve officials are preparing to leave their historic interest-rate raising campaign on hold next month for the third meeting in a row — but that does not mean they are ready to discuss cuts. Since July the federal funds rate has held steady at a 22-year high of 5.25 per cent to 5.5 per
Stay informed with free updates Simply sign up to the Capital markets myFT Digest — delivered directly to your inbox. Investors are piling into risky assets in the growing belief that the Federal Reserve and other major central banks are close to winning their battle with inflation, fuelling the biggest rally in global stocks since
The cryptocurrency mining platform AntPool released an update on Nov. 30, saying it will refund the transaction fee of 83 Bitcoin (BTC). It said its risk control system temporarily froze the fee when packaging the transaction, and therefore after the affected user verifies their identity, it will refund the fee. The affected user has until
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Alistair Darling, who was Labour chancellor of the exchequer during the financial crisis, has died at the age of 70. A spokesperson for the Darling family announced the death of the veteran Labour politician at
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Saudi Arabia has won provisional backing for further oil production cuts by the Opec+ group, boosting oil prices to the highest in three weeks ahead of a crucial meeting of the cartel. The meeting, which
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Ever since the first recorded battle in the 15th century BC at Megiddo, where Pharaoh Thutmose III’s forces crushed the rebellious Canaanites (and gave rise to the term Armageddon), our species has been steadily,