Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The former chair of the Post Office has released a memo that alleges he was told by a senior civil servant to stall requests for government support and develop a financial plan to “hobble” into
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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. Bankers’ bonuses in Asia have been plunging. But not for Noel Quinn. Total pay for the HSBC chief executive nearly doubled to £10.6mn ($13.4mn) in 2023. The Asia-focused lender also boosted its overall bonus pool
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. HSBC’s pre-tax profits fell 80 per cent year on year in the final three months of 2023 as it took a $3bn charge on the value of its stake in China’s Bank of Communications, the
“Huge numbers of independent financial advisers are incompetent,” Peter Hargreaves, co-founder of Hargreaves Lansdown, told the Financial Times in 2007, on the eve of the investment manager’s flotation. The plan was simple. Hargreaves Lansdown would enable customers to bypass the old guard of financial advisers and dispel the notion that investing was solely the preserve
Stay informed with free updates Simply sign up to the Science myFT Digest — delivered directly to your inbox. As some accounts have it, the stones were first noticed in around 2500 BCE by a shepherd in Magnesia, in what is modern-day Turkey. He observed that they clung to the nails in his shoes. The
Stay informed with free updates Simply sign up to the Pensions industry myFT Digest — delivered directly to your inbox. Once upon a time, big US companies provided their longtime employees with clearly defined pension benefits that guaranteed them enough to live on for the rest of their lives. That fairy tale ending disappeared for
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. England needs as many as half a million new homes a year to keep up with the country’s rising population, according to a Financial Times analysis — far more than either the Conservatives or Labour
Stay informed with free updates Simply sign up to the UK tax myFT Digest — delivered directly to your inbox. UK households are set to end up in a “tax sandwich” where potential cuts at Jeremy Hunt’s upcoming Budget sit between big earlier tax increases and further rises after the general election, a leading think-tank
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A British nuclear missile test failed after the Trident weapon crashed into the sea near to the submarine that fired it, in another embarrassing flop after the UK’s last trial launch also failed eight years
US stocks fell on Tuesday, with chipmaking giant Nvidia recording its worst day since October ahead of its quarterly earnings report on Wednesday. The blue-chip S&P 500 fell 0.6 per cent, while the tech-heavy Nasdaq Composite fell 0.9 per cent, both driven by a sell-off in tech stocks. Chipmaker Nvidia fell 4.4 per cent, its
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Sequoia Capital has aborted an attempt to oust its former partner Michael Moritz from the board of Klarna, days after the Silicon Valley venture capital firm launched an extraordinary bid to unseat him as chair
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Citigroup has lifted chief executive Jane Fraser’s pay by 6 per cent in 2023 to $26mn, despite the bank’s profits falling almost 40 per cent amid a sweeping reorganisation. The bank said in a regulatory
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump entered the 2024 election year with about 200,000 fewer donors than in the previous presidential campaign four years ago, raising questions about his fundraising machine just as legal bills eat into his war
Kemi Badenoch, business and trade secretary, was on Tuesday locked in a new political row, this time over her contested claim that she was engaged in trade talks with Canada, negotiations Ottawa insists do not exist. Badenoch told MPs “explicitly” on January 29 that talks with Canada were “ongoing” to avoid a March 31 tariff
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. After two heavy by-election defeats last week, rightwing Conservatives are twisting Rishi Sunak’s arm to shift further to the right on issues such as migration. Absurd as it might seem for a government that has
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Nikki Haley slammed Donald Trump on Tuesday and rejected calls to suspend her presidential campaign, saying she felt “no need to kiss the ring” and endorse his bid for the White House. “I refuse to
Stay informed with free updates Simply sign up to the Eurozone economy myFT Digest — delivered directly to your inbox. Europe has long looked across the Atlantic at the US economy with a mixture of horror and awe. The EU population would not accept the health and social inequalities in America, but it wishes it
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Lawmakers in Germany’s ruling coalition are set to vote this week on a motion that could finally push Chancellor Olaf Scholz to deliver long-range precision Taurus cruise missiles to Ukraine. A draft resolution prepared
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Walmart said prices for some of its products did not decline as much as it had anticipated during the most recent quarter, reflecting the sticky inflationary environment in the US that is prompting investors to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A tinkle of warning bells is ringing Down Under for investors still waiting for recessions to bite or eagerly anticipating a swift global pivot to interest rate cuts. Earlier this month, Australia’s central bank —
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Barclays has increased the number of its bankers earning more than €1mn a year by 49, even as the lender cut bonuses on the back of a loss in 2023. The bank, which reported a