With Israel’s air strikes still pounding Beirut and Donald Trump packing his diplomatic team with Middle East hawks, many Lebanese have pinned their hopes for peace on one man: the automotive tycoon Massad Boulos. As a Trump in-law, no other Lebanese voice is as close to the president-elect, or seemingly as well placed to win
Olaf Scholz is facing a “Biden moment” amid growing pressure from his own party to abandon his bid for a second term as German chancellor and make way for the more popular defence minister. Scholz has the backing of the Social Democratic leadership, which so far supports his bid to lead the party in its
As OpenAI raced to raise almost $7bn last month, one investor was always on hand. Thrive Capital stayed close to the AI start-up’s co-founder and chief executive Sam Altman and contributed over $1bn to a funding round that valued the artificial intelligence group at $150bn. The bet is the boldest yet for the New York-based
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. When regular companies report quarterly earnings, investors peruse them, and the shares move up, down or sideways. When those earnings come from Nvidia, however, the financial world tilts on its axis. The chipmaker’s stock dipped
US stocks were mixed at the market’s close, as investors hunkered down ahead of earnings — and outlook on the much-hyped artificial intelligence sector — from chipmaker Nvidia. Wall Street’s S&P 500 finished less than 0.1 per cent higher, with the index staging a late rally to recover from losses earlier in the session. The
€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
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Indian billionaire Gautam Adani has been charged by federal prosecutors in New York over an alleged years-long scheme to bribe Indian officials in exchange for billions of dollars’ worth of solar power contracts and concealing
<img src=”https://public.flourish.studio/visualisation/20399114/thumbnail” width=”100%” alt=”chart visualization” /> Municipal secondary trading did little to move triple-A yield curves, outperforming a weaker U.S. Treasury market again, as the primary market took focus. Triple-A yield curves barely budged while USTs saw losses of three to four basis points across the curve. The day’s moves pushed ratios lower still. The
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Former Wall Street trader Bill Hwang has been sentenced to 18 years in prison, capping an extraordinary fall from grace for the Archegos founder who was earlier this year found guilty of orchestrating a massive
Bloomberg News The regulation of municipal advisors, a topic of great interest since it was initiated by the Dodd-Frank Act 14 years ago, may well be subtly expanding based on how the Securities and Exchange Commission enforces both its own and Municipal Securities Rulemaking Board rules. That’s according to panelists at the SEC, Financial Industry
“We have designed this competitive project development process to attract extremely capable teams with outside-the-box ideas for bringing water to Arizona and to give WIFA the opportunity to publicly and transparently vet those projects, ensuring that we select the right one for our state,” Ted Cooke, chairman of the authority’s Long Term Water Augmentation Committee,
The John Hancock building, left, and Trump Tower, right, stand in the cityscape as seen from the Willis Tower in Chicago. Bloomberg News S&P Global Ratings placed Chicago’s general obligation bond rating on watch negative Tuesday, warning the city against heavy reliance on one-time budget solutions, as reports suggest Mayor Brandon Johnson has slashed his
The Tampa Bay Rays expect Pinellas County, Florida, to help finance its new major league baseball stadium. Bloomberg News Tensions between Pinellas County Commission, Florida, and Major League Baseball’s Tampa Bay Rays appeared to have increased Tuesday as the team seeks a new financing deal and the commission declined to vote on $312 million of
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world The US Department of Justice is expected to ask a judge to force Google to divest one or more of its core products, including its Chrome browser and Android mobile operating system, among
In the years after the 2008 economic crash, the rating agencies faced criticism largely in how it rated mortgages and securities, which resulted in the Dodd-Frank legislation bringing greater scrutiny to the industry and resulting in vast changes, Moody’s Ratings’ Eric Hoffmann said. With the cost rising and methodologies changing, the California Debt and Investment Advisory
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Unilever has shelved plans to run a sales process intended to find a private equity buyer for its €15bn ice cream division and will instead focus on a push to spin off the unit in
It will take longer for this toll to generate the necessary revenue for the MTA’s 2020-2024 capital program, MTA Chair Janno Lieber said, but the agency is satisfied.Bloomberg News The Metropolitan Transportation Authority Board voted once again to implement congestion pricing, the tolling program budgeted to cover $15 billion of its current capital plan, but
We’re selling 165 shares of Best Buy at roughly $86 each. Following Wednesday’s trade, Jim Cramer’s Charitable Trust will own 600 shares of BBY, decreasing its weighting to about 1.5% from 1.9%. Best Buy shares have been on a steady decline since October on concerns about electronic retail sales and the potential for higher tariffs
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK will retire ageing helicopters and assault ships under plans to save £500mn in the coming five years, defence secretary John Healey has said. The “outdated” equipment includes a planned refit of the frigate
€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
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. FTX co-founder Gary Wang has avoided prison time after his swift co-operation with prosecutors helped seal the criminal conviction of the crypto exchange’s other founder Sam Bankman-Fried. At a hearing on Wednesday, Judge Lewis Kaplan