Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Chief executives of London-listed companies should be able to be paid like “top-rate footballers” without facing a backlash, according to billionaire financier Lord Michael Spencer. The founder of brokerage ICAP, part of which was sold
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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. BlackRock has bought a bonanza of billionaires. Now comes the challenge of keeping them in line. The world’s largest asset manager has been on a $28bn acquisition tear, snapping up two of the best known
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In July, Howard Lutnick, the pugnacious boss of broker Cantor Fitzgerald, regaled an audience of crypto devotees in Nashville with tales of his early days exploring the world of digital currencies. “I met every criminal who’s now in prison,” the 63-year-old joked, referring to his encounters with various youthful crypto executives now serving lengthy jail
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Qatar’s $500bn sovereign wealth fund is preparing to deploy its cash more aggressively ahead of a petrodollar windfall that could ultimately double its size. Mohammed Al-Sowaidi, the Qatar Investment Authority’s new chief executive, told the Financial Times the fund expected to “do bigger-ticket deals” and invest with “more frequency” as it embarks on a review
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Lighthouse at Montauk Point. Long Island. NewYorkMishella/Getty Images/iStockphoto Moody’s Ratings upgraded Suffolk County, New York, two notches citing the county’s improved fiscal position, sales tax growth and operational oversight.  Moody’s is the third rating agency to upgrade Suffolk this year, after Fitch Ratings and S&P Global Ratings upgraded the Long Island county. The county plans
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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. England’s NHS is heading into its busiest ever winter “confused” about the government’s priorities for the service, health leaders have warned, urging ministers to be honest about the trade-offs required to hit performance targets. Prime
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Vivek Ramaswamy, chairman and co-founder of Strive Asset Management, far left, and Tesla CEO Elon Musk met with Republican lawmakers on Dec. 5, 2024 about efforts to cut $2 trillion from the federal budget.Al Drago/Bloomberg California’s publicly funded high-speed rail project, a favorite target of Congressional Republicans, faces a fresh threat when President-elect Donald Trump
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<img src=”https://public.flourish.studio/visualisation/20727385/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were slightly weaker Tuesday as investors digested a large amount of new-issuance against the backdrop of a weaker U.S. Treasury market while equities were mixed. Muni yields were cut up to two basis points, depending on the scale, while UST yields rose by one to two basis points
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“What we’re looking at for 2025 is a few warning lights on the dashboard that there could be some stress on state budgets in the next year,” said Tim Storey, CEO at the National Council of State Legislatures.   ”I’ve seen five to seven states that are saying, ‘we’re starting to project slower revenue growth, perhaps even
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Puerto Rico Attorney John Mudd speculated PREPA bankruptcy may be headed for dismissal, with the court appointing a receiver for the authority. “No prospect” of a “mediated or consensual resolution” for the Puerto Rico Electric Power Authority bankruptcy exists, the PREPA mediation team told the court Monday, which an outside attorney said leaves the bankruptcy
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Transcription: Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio for the authoritative record. Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio for the authoritative record. Michael Scarchilli
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California’s bond rating outlook was revised to stable from negative by Moody’s Ratings.Bloomberg News California’s improved revenue outlook has brought the Golden State an improved rating outlook. Moody’s Ratings revised the outlook on California’s Aa2 rating to stable from negative Monday afternoon. Moody’s had revised the outlook to negative in May 2023 citing the state’s
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Stay informed with free updates Simply sign up to the Global Economy myFT Digest — delivered directly to your inbox. Has rapid economic growth in the world’s high-income countries come to an end? If so, did the bursting of the bubble economy in 2007 mark the turning point? Alternatively, are we at the start of
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