NANJING, CHINA – AUGUST 18, 2023 – Aerial photo shows a residential area of Evergrande in Nanjing, East China’s Jiangsu province, Aug 18, 2023. (Photo by Costfoto/NurPhoto via Getty Images) Getty Images Shares of Chinese property developer Evergrande jumped over 70% on Wednesday, leading gains on the Hang Seng Index. The real estate sector was
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A “For Sale” sign is displayed in front of a home on August 30, 2023 in Los Angeles, California. Mario Tama | Getty Images After rising sharply for several weeks, mortgage interest rates pulled back slightly last week, but not enough to revive mortgage demand. Total mortgage application volume fell 2.9% last week, compared with
After bottoming out below 3% in January 2021, the average rate for a 30-year, fixed-rate mortgage now sits above 7% — which is just too high for many homeowners to consider selling. At today’s rates, most homeowners would need to finance a new home at a higher rate than the rate they currently hold, adding
Receive free UK financial regulation updates We’ll send you a myFT Daily Digest email rounding up the latest UK financial regulation news every morning. The UK’s top financial regulator has vowed to take “prompt action” against any banks found to be unfairly refusing service to politicians and their families, as it outlined the terms of a broad
In this article CHEF INTU PANW MRVL NVDA PANW MRVL NVDA Follow your favorite stocksCREATE FREE ACCOUNT The logo of Nvidia at its corporate headquarters in Santa Clara, California, May 2022. Nvidia | via Reuters The macro backdrop is looking challenging as September begins, but analysts have highlighted several stocks that they feel confident about
Britain’s economic performance since the start of the Covid-19 pandemic was much better than previously thought, the Office for National Statistics said on Friday as revised figures added nearly 2 per cent to the size of the economy. The changes mean that by the end of 2021, the UK economy was 0.6 per cent larger
(Click here to subscribe to the Delivering Alpha newsletter.) “It’s very difficult to buy a sports team and lose money,” Carlyle Co-Founder David Rubenstein recently said in an interview for a CNBC podcast. Historically, that purported upside has only been enjoyed by the wealthiest of the wealthy. But most major U.S. sport leagues have – just within the last
This article is an on-site version of our Britain after Brexit newsletter. Sign up here to get the newsletter sent straight to your inbox every week Good afternoon. Another busy week in Brexitland that illustrates why diverging from the EU, even when it’s a potentially sensible idea, can still be a source of political risk.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Standard Chartered has named former Bank of America executive Diego De Giorgi as its new chief financial officer, replacing Andy Halford who is stepping down after more than nine years in the role. De Giorgi,
From the outside, the Global Opportunities Fund in Bermuda looked like any regular investment fund: broad, bland, and uncontroversial. On the inside, however, two men were using the fund for a specific purpose — to amass and trade large positions in shares of the Adani Group, one of the biggest and most politically connected private
Warren Buffett, Chairman and CEO of Berkshire Hathaway. David A. Grogan | CNBC Warren Buffett took control of Berkshire Hathaway in 1965, and nearly six decades later as the “Oracle of Omaha” turned 93 Wednesday, his conglomerate is stronger today than it’s ever been. Berkshire shares have roared back to an all-time high on record
The US Court of Appeals for the Federal Circuit in Washington, D.C., US, on Wednesday, Aug. 9, 2022. Al Drago | Bloomberg | Getty Images Well, now the SEC is in a real pickle. The U.S. Court of Appeals for the D.C. Circuit sided with Grayscale in a lawsuit against the SEC, greatly improving the
In this article MSFT AAPL EIX CVX Follow your favorite stocksCREATE FREE ACCOUNT Prasit photo | Moment | Getty Images When Hannah Cohen invests in a stock or fund, one thing she looks for is if the mission aligns with her personal values. For example, the 25-year-old data consultant has invested in funds like the
Receive free Financial literacy updates We’ll send you a myFT Daily Digest email rounding up the latest Financial literacy news every morning. The writer is chief executive of Fair4All Finance and a previous CEO of Grant Thornton UK It is welcome that a spotlight is being shone on exclusion from vital financial services. But the
European stocks rose in morning trade on Wednesday, rebounding after hitting five-week lows in the previous session, as investors shrugged off further evidence of weakness in the Chinese economy. Europe’s region-wide Stoxx Europe 600 rose 0.2 per cent, led by consumer cyclical stocks. France’s Cac 40 was up 0.4 per cent and Germany’s Dax added
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Lower gas and electricity prices drove a sharp drop in UK inflation to 6.8 per cent in July from 7.9 per cent the previous month, the lowest rate of price increases since February last year. The figure met economists’ expectations and will come as a modest relief after wage data on Tuesday was surprisingly strong, highlighting the work
The United States crypto mining industry is getting a new lobbying group, with one of its biggest goals to dispel misconceptions about its sustainability from policymakers. Launched on Aug. 15, the Digital Energy Council said its aim is to advance policies that encourage the growth of digital asset mining and energy development. DEC founder and
Greensill Capital charged an “unreasonable and excessive” fee for arranging financing for NHS building projects and deliberately avoided disclosing this fact, according to the collapsed company’s main insurer. Australian insurance agency Bond & Credit Co arranged $10bn of coverage for Greensill, which specialised in supply chain finance and collapsed into administration in 2021 after its
The US is pushing Iran to stop selling armed drones to Russia as part of discussions on a broader “unwritten understanding” between Washington and Tehran to de-escalate tensions and contain a long-simmering nuclear crisis. The Biden administration has raised the issue with the Islamic regime at indirect talks in Qatar and Oman this year, according to
A year ago, President Joe Biden launched a new era of US industrial policy, signing into law the Inflation Reduction Act and the Chips and Science Act. Passed within days of each other last August, the two laws offered more than $400bn in tax credits, loans and subsidies, all designed to spark development of a