Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Billionaire hedge fund manager Bill Ackman made a profit of about $200mn from his high-profile bet against US 30-year Treasury bonds, according to people familiar with the trade. The founder of Pershing Square Capital Management
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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. Like shoppers, investors are often prone to the so-called left-digit bias — the tendency to place more emphasis on the leftmost digit of a price. Indeed, when the 10-year US Treasury bond yield — a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Mike Johnson, a loyal ally of Donald Trump, has been elected Speaker of the House of Representatives, ending weeks of congressional paralysis and signalling a sharp tack to the right for Republicans in the lower
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The main UN agency bringing humanitarian aid to Gaza has said it will run out of fuel in less than a day, threatening its ability to help roughly 1mn people displaced by the war in
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The owners of Canary Wharf Group will inject £400mn of fresh capital into the London office district, which has suffered the departure of key tenants as companies cut back office space in response to hybrid
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is former chief of MI6 and UK Ambassador to the UN In the Yom Kippur war, 50 years ago this month, the attacking armies from Egypt and Syria had a clear goal —
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Shares in Worldline fell more than 50 per cent on Wednesday to a record low after the French payments group warned that revenues and margins would take a hit this year from a deteriorating economic
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK’s official measure of unemployment stood at 4.2 per cent in the three months between June and August this year. The definition is precise. It means that of the population aged 16 or above
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Lloyds Banking Group has reported better than expected third-quarter profits but flagged that some of the benefits of higher interest rates are starting to wane. The UK’s largest high-street lender said on Wednesday that statutory
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Deutsche Bank said it would have capacity to increase dividends and share buybacks over the next two years as it reported better than expected third-quarter results. Pre-tax profit at Germany’s largest lender rose 7 per
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Santander’s net profit rose 20 per cent year on year in the third quarter, as Spain’s biggest lender became the latest European bank to report strong results thanks to record-high interest rates. The bank said
Early last summer, Adam Yedidia took Sam Bankman-Fried to one side after a game of paddle tennis. In the shadow of a hut in the grounds of the Bahamian penthouse they and others shared, he asked the crypto tycoon: “Are we OK?” Yedidia told a New York court this month that he was worried FTX,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Saudi Arabia’s energy minister Prince Abdulaziz bin Salman thinks that the return of the oil mega-deal is “testament” that “hydrocarbons are here to stay”. His view, echoed by many in the oil sector, is why
It was laziness that Leon Hess said pushed him into the oil game. In 1933, tired of lugging sacks of coal around New Jersey, he bought a used truck and began a heating oil delivery business. Nine decades later, his son John sold the company to Chevron for $53bn this week, in one of the
Stay informed with free updates Simply sign up to the UK house prices myFT Digest — delivered directly to your inbox. When Rishi Sunak, then Chancellor, announced a new mortgage guarantee scheme in early 2021 it was, he said, going to “turn generation rent into generation buy”. It will shock you to learn it didn’t
The US is using Israel’s delay in launching a ground offensive in Gaza to rush defensive systems into the region amid growing fears that Iran and its proxies will escalate attacks on US forces and allied interests once the invasion begins, according to officials. The move to stiffen its security in the region and build
© Brent Lewin/Bloomberg Snap beat expectations to post a 5 per cent sales rise in the third quarter, reversing two quarters of declines, but warned that the Israel-Hamas conflict was hurting its revenues in the current quarter. Revenue at the social media company rose to $1.189bn, above analysts’ expectations of an increase to $1.11bn —
Stay informed with free updates Simply sign up to the US politics & policy myFT Digest — delivered directly to your inbox. Donald Trump has torpedoed Tom Emmer’s bid to become Speaker of the House of Representatives, compounding the chaos that has gripped Capitol Hill for weeks and leaving the Republican party with no clear
Israel has yet to agree a detailed plan for postwar Gaza, raising fears within its unity government and in Washington that a land invasion against Hamas could begin without adequate preparation for its aftermath. Several people familiar with the deliberations described Israel embarking on a sprawling and ongoing effort, involving multiple Israeli military bodies and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Former Conservative party chair Sir Brandon Lewis has taken a job advising an investment company set up and still partly owned by two sanctioned Russian oligarchs. Lewis, a Tory MP, will join LetterOne, a London-based
Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. Three recent columns asked whether China’s rapid rise in relative gross domestic product and GDP per head was coming to an end, as many believe (or hope). The first argued that China had the potential