A “For Sale” sign outside a house in Albany, California, on Tuesday, May 31, 2022. David Paul Morris | Bloomberg | Getty Images After a stronger start to the year, mortgage demand plunged last week, despite another drop in interest rates. Total mortgage application volume fell 9% last week compared with the previous week, according
Vodafone’s interim chief executive said the group “can do better” after it announced revenues were falling in some of its biggest markets. Margherita Della Valle, who took on the role at the start of the year, said the telecoms group had made changes to improve performance. “The recent decline in revenue in Europe shows we
The writer is a lecturer at Stanford University, former deputy secretary-general of Nato and previously the US chief negotiator on New Start The US has just declared Russia to be in non-compliance with the New Start treaty, the last remaining legally binding measure between the two countries to control nuclear arms. The issues are straightforward:
Lord Karan Bilimoria, chancellor of Birmingham University, has warned that it would be “utter madness” for ministers to try to bring down migration by cutting the number of foreign students at UK universities. Bilimoria, founder of Cobra beer and former CBI president, said he was “very concerned” by government discussions on cutting overseas student numbers:
A trader works on the floor of the New York Stock Exchange. Peter Kramer | CNBC NYSE President Lynn Martin and other exchange officials confirmed to CNBC that the root cause of the Big Board’s trading glitch at the Tuesday open was due to a manual error involving the Exchange’s Disaster Recovery configuration. After the 9/11 disaster,
The bell at the NYSE Source: NYSE The day after a major trading glitch at the New York Stock Exchange open, the NYSE has issued a statement on what happened: “The root cause was determined to be a manual error involving the Exchange’s Disaster Recovery configuration at system start of day.” That’s all they are
In this article ICE Follow your favorite stocksCREATE FREE ACCOUNT A trader works on the floor of the New York Stock Exchange. Peter Kramer | CNBC The New York Stock Exchange experienced technical issues at the open Tuesday. Dozens of stocks opened at prices well above or below their prior day closing prices. Most were halted
As Cristiano Ronaldo jogged out to the pitch for his Saudi Arabian debut last week, gilded confetti popped and swirled down on the stands. The crowd in the Riyadh stadium roared. Seconds later, when Lionel Messi emerged to face his longtime rival, they erupted. Before the players’ entrance, Turki al-Sheikh, the kingdom’s entertainment emperor, had
In April 2020 a cargo flight took off from Zhukovsky airport outside Moscow heading towards Khartoum. According to the documentation, the aircraft was carrying 28,000 kilos of Russian gingerbread cookies being flown to the Sudanese capital by an obscure company registered in St Petersburg called RN Trading. At the time, the flight passed largely unnoticed.
In this article SPY Follow your favorite stocksCREATE FREE ACCOUNT (An excerpt from the book, “Shut Up and Keep Talking: Lessons on Life and Investing from the Floor of the New York Stock Exchange,” by Bob Pisani.) Thirty years ago this week, State Street Global Advisors launched the Standard & Poor’s Depositary Receipt (SPY), the first
The hedge fund management firm of billionaire trader Chris Rokos plunged to a loss in its most recent financial results after its fund was hit by a sharp sell-off in government bonds, even though its traders have since been able to profit handsomely from a surge in inflation. Rokos Capital Management, one of the world’s
Rupert Murdoch might be the most powerful man in news but for most of his career the 91-year-old fell short in one important respect: he did not have control of the family business. For roughly four decades, Murdoch’s reign depended on the goodwill of his siblings, three Australian women far from the public glare. Until
Burton G. Malkiel, professor emeritus of economics at Princeton University, speaks at the John C. Bogle Legacy Forum in New York, U.S., on Tuesday, Jan. 31, 2012. Peter Foley | Bloomberg | Getty Images This week, Princeton professor Burton Malkiel has published the updated, 50th anniversary edition of A Random Walk Down Wall Street: the
Burton Malkiel, a Princeton University economics professor, in New York, Jan. 26, 2010. Julie Glassberg | The New York Times Want to learn how to be a better investor in 2023? Two classic books on long-term investing are out in new editions. If your New Year’s resolution is to learn more about the stock and
The British government has ordered the sale of Upp, a regional broadband provider owned by LetterOne, an investment company backed by oligarchs, citing concerns around national security. LetterOne acquired Upp in 2021 as part of a £1bn plan to build a regional British broadband network to compete with BT. It would have covered 1mn premises
Britain’s largest telecoms group has unveiled a sweeping restructuring of its business, combining its global and enterprise divisions into a slimmer unit called BT Business as it attempts to drive down costs and revive some of its most poorly performing segments. The move to create BT Business will create £100mn in cost savings by 2025,
The UK and Italy’s groundbreaking partnership with Japan to build a new combat jet could open up export markets in Asia that have historically proved difficult to penetrate, according to the chief executives of two of the industrial groups involved. Alessandro Profumo, chief executive of Italy’s defence champion Leonardo, said the tri-national alliance was significant
US scientists have achieved energy gain in a fusion reaction for the first time, the country’s energy secretary Jennifer Granholm has confirmed, heralding the breakthrough as evidence that the technology could eventually provide an abundant, zero carbon alternative to fossil fuels. “This is a landmark achievement,” Granholm said at a press conference in Washington on
Bob Pisani, CNBC Scott Mlyn | CNBC Thinking of writing a book? You might want to reconsider. On Monday, a federal judge blocked Penguin Random House’s proposed purchase of Simon & Schuster, agreeing with the Justice Department that joining the two giant publishing houses would lessen competition for top-selling books. As an author, I agree
A flag outside the U.S. Securities and Exchange Commission headquarters in Washington, D.C., U.S., on Wednesday, Feb. 23, 2022. Al Drago | Bloomberg | Getty Images While Washington is consumed with the elections next week, the Securities and Exchange Commission is continuing to consider numerous rulemaking proposals that could significantly increase the reporting and disclosure
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The chief executive of BHP has signalled that the world’s biggest mining company will resist the temptation to go on an acquisition spree despite a growing war chest. Mike Henry told the Financial Times that