Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Sweden’s central bank cut interest rates for the first time in eight years as European monetary policymakers diverge from the US to support their economies even if it comes at the expense of their currencies.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. China’s President Xi Jinping has praised Hungarian Prime Minister Viktor Orbán’s government for pursuing an “independent” foreign policy and “defying” great power politics on a European trip that analysts say is aimed at exploiting divisions
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. High Speed 2 is set to get the green light to dig a 4.5-mile tunnel under central London within weeks, with the government expected to release over £1bn of taxpayer cash for the work, according
Stay informed with free updates Simply sign up to the Science myFT Digest — delivered directly to your inbox. The writer is a science commentator Volcanoes house more than molten rock. Alongside the magma sits a mysterious substance called magmatic brine, a mineral-rich soup that collects underneath both active and dormant volcanoes. Geologists are now
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The author is a Hoover fellow at Stanford University This year may be the year of the missile. Last month, Iran launched a salvo of approximately 150 of them, many shot down by American and Israeli
Stay informed with free updates Simply sign up to the Equities myFT Digest — delivered directly to your inbox. Fifty corporate winners from the coronavirus pandemic have lost roughly $1.5tn in market value since the end of 2020, as investors turn their backs on many of the stocks that rocketed during early lockdowns. According to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rachel Reeves, Britain’s shadow chancellor, on Tuesday declared to a City audience that “stability is change”, vowing that Labour would break from the “chaos” of recent Conservative economic policymaking. But while Reeves’s reference point is
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Investors have been building up bets against the pound, as conviction grows that the Bank of England will start cutting interest rates by the summer, ahead of its US counterpart. Currency speculators’ wagers on a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US last week paused a shipment of bombs to Israel over concerns about its looming ground operation in Rafah, a senior administration official said on Tuesday. The move marks the first known time that
In the middle of Hong Kong’s business district, on the site of a former car park, an unusual new addition to the city’s famous skyline is nearing its opening date. The Henderson is a 36-storey office building by Zaha Hadid Architects and named for Henderson Land Development, a developer controlled by one of Hong Kong’s
When the Thames Barrier was built as an elegant stainless steel-capped bulwark to protect Londoners from flooding in the 1980s, it was designed with additional capacity just in case melting glaciers raised sea levels. “Climate change was not even in the dictionary,” said Andy Batchelor, 63, the operations manager who started work on the barrier
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The federal judge presiding over the criminal case related to Donald Trump’s handling of classified documents has postponed the Florida trial indefinitely, citing the need for “adequate preparation”. In a filing on Tuesday afternoon, Aileen
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Reddit beat Wall Street’s revenue expectations and raised its forecast in its first earnings announcement since its market debut, sending shares in the social media group up more than 12 per cent in after-hours trading.
Reddit revenues topped analysts’ expectations, sending shares up 16 per cent in after-hours trading in its first quarterly results since its market debut in March. In the second quarter of 2024, the social media group estimated revenue in the range of $240mn to $255mn, above consensus expectations. Revenues rose 48 per cent to $243mn, well
Municipals were firmer in secondary trading as the primary market took focus, led by the accelerated pricing of $1.8 billion general obligation bonds from Illinois. U.S. Treasury yields fell out long and equities ended mixed. The two-year muni-to-Treasury ratio Tuesday was at 64%, the three-year at 63%, the five-year at 61%, the 10-year at 60%
The Good Brigade | Digitalvision | Getty Images More Americans are paying capital gains taxes on home sale profits amid soaring property values — but there are ways to reduce your bill, experts say. In 2023, nearly 8% of U.S. home sales yielded profits exceeding $500,000, compared to about 3% in 2019, according to an
Municipal issuers have seen more upgrades this year than downgrades, continuing a trend that began in 2021, while the overall rated universe of muni issuers has also grown. If current economic conditions persist, the trend will likely continue for the foreseeable future, market participants said. The total rated share of the market increased in the
The Securities and Exchange Commission’s “regulation by enforcement” came under fire on Tuesday during a House Financial Services hearing that brought into question how effective its enforcement wing is at doling out punishments and how effective certain regulatory matters can be on their own. Some lawmakers said they were concerned about regulatory trends like the
Puerto Rico Electric Power Authority bondholders requested documents they say will support their motion to lift the stay on seeking a receiver, in a motion filed Monday night. Syncora Guarantee and GoldenTree Asset Management want documents detailing PREPA’s monthly reports of financial activity to determine how PREPA is calculating and disposing of net revenues. Further
Benjamin Netanyahu waited for months to send troops into Rafah, the southern tip of the Gaza Strip where more than 1mn Palestinians have sought refuge from fighting. When the order finally came on Monday, it was within hours of Hamas finally signalling that it had accepted the outlines of a hostage-for-prisoner ceasefire proposal drawn up with
Israel threatened to expand its military operation in Rafah after tanks and troops seized the main border crossing between Gaza and Egypt, as international mediators struggled to continue talks aimed at ending the conflict. Israel launched its ground offensive into eastern Rafah on Monday, hours after Hamas said it had accepted a draft proposal of