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The Dow topped 45,000 for the first time but Wall Street’s main indexes closed lower on Wednesday, with the Nasdaq leading declines as technologystocksslumped ahead of the Thanksgiving holiday. Worries the Federal Reserve may be cautious about rate cuts after stubbornly strong US inflation data weighed on investors. The Dow Jones Industrial Averagefell 138.25 points,
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A top Swiss court on Wednesday acquitted Credit Suisse, now part of UBS, of failing to prevent money laundering by a Bulgarian cocaine trafficking gang, overturning a 2022 conviction. The Federal Criminal Court’s original ruling was seen as a test case for the prosecution of banks. It had found an ex-employee of the bank guilty of money-laundering, and Credit Suisse of
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Billionaire Elon Musk, tasked with slashing government costs by President-elect Donald Trump, on Wednesday called for the elimination of a federal regulatory agency charged with protecting consumers in the financial sector. The comment on the Consumer Financial Protection Bureau (CFPB) followsMusk’srecent appointmentto a government efficiency role, further amplifying the influence of the world’s richest man, who
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Meta CEO Mark Zuckerberg dined with Donald Trump at Mar-a-Lago after reportedly requesting the meeting with the president-elect to discuss the incoming administration Wednesday. Its an important time for the future of American Innovation. Mark was grateful for the invitation to join President Trump for dinner and the opportunity to meet with members of his
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Billionaire Elon Musk, tasked with slashing government costs by President-elect Donald Trump, on Wednesday called for the elimination of a federal regulatory agency charged with protecting consumers in the financial sector. The comment on the Consumer Financial Protection Bureau (CFPB) followsMusk’srecent appointmentto a government efficiency role, further amplifying the influence of the world’s richest man, who
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Meta CEO Mark Zuckerberg dined with Donald Trump at Mar-a-Lago after reportedly requesting the meeting with the president-elect to discuss the incoming administration Wednesday. Its an important time for the future of American Innovation. Mark was grateful for the invitation to join President Trump for dinner and the opportunity to meet with members of his
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Meta CEO Mark Zuckerberg dined with Donald Trump at Mar-a-Lago after reportedly requesting the meeting with the president-elect to discuss the incoming administration Wednesday. Its an important time for the future of American Innovation. Mark was grateful for the invitation to join President Trump for dinner and the opportunity to meet with members of his
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. If the fast-fashion group Shein manages to become one of the largest UK-listed public companies next year, no one can claim to be unprepared. Founded in China, headquartered in Singapore, spurned by US politicians and
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€69 per month Complete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%. What’s included Global news & analysis Expert opinion FT App on Android & iOS FT Edit app FirstFT: the day’s biggest stories 20+ curated newsletters Follow topics & set alerts with myFT
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Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Russia has used cluster munitions and other highly destructive bombs to target Ukraine’s energy infrastructure, prompting emergency shutdowns across the country on Thursday. “Again, the energy industry is under massive enemy attack,” said energy
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Net immigration to the UK exceeded 900,000 for the year to June 2023, the highest annual total on record and much more than previously thought, according to official figures issued on Thursday. The revised Office
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Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world The Bank of Korea on Thursday cut interest rates unexpectedly in a rare back-to-back move reflecting concern over the impact of Donald Trump’s second presidency on Asia’s fourth-largest economy. The BoK lowered the
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€69 per month Complete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%. What’s included Global news & analysis Expert opinion FT App on Android & iOS FT Edit app FirstFT: the day’s biggest stories 20+ curated newsletters Follow topics & set alerts with myFT
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