Shared office space provider WeWork announced on Monday a settlement with its junior creditors and a new cash infusion from its senior lenders, moving ahead with a bankruptcy deal that rejects a $650 million offer from co-founder and former owner Adam Neumann. During a hearing in Newark, NJ, US Bankruptcy Judge John Sherwood signed off on the
On Saturday, protesters rallied outside the White House Correspondents’ Association dinner in Washington, D.C. Protesters staged a die-in to honor the more than 140 journalists killed in Gaza during Israel’s assault. Protesters screamed “Shame on you” as journalists dressed in black tie attire entered the Washington Hilton. CodePink co-founder Medea Benjamin was violently thrown out
In the not-too-distant future, automatic emergency braking will have to come standard on all new passenger vehicles in the US, a requirement that the government says will save hundreds of lives and prevent thousands of injuries every year. The National Highway Traffic Safety Administration unveiled the final version of the new regulation on Monday and
Enjoy complimentary access to top ideas and insights — selected by our editors. Bond counsel in the first quarter of 2024 handled a combined $98.894 billion across 1,580 bond issues, up from $74.397 billion in 1,387 transactions this time last year. The top 10 bond counsel saw some shuffling and welcomed two new entrants. The
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In the next several months, state and local governments, along with other tax-exempt organizations, are going to start to receive payments from the Federal government to help offset the cost of investments they have made electric vehicles or solar panels or charging stations. When they do, it will mark not just a milestone in the
A Redfin sign in front of a home for sale in Atlanta, Georgia, on Sunday, Nov. 13, 2022. Elijah Nouvelage | Bloomberg | Getty Images Strong demand and tight supply continue to push home values higher, even though mortgage rates are now moving higher again. Home prices in February jumped 6.4% year over year, another
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. There are three things that Joe Biden cannot shake off: his Secret Service guards, his own shadow and the phrase “ . . . since Lyndon Johnson”. He is described as the most consequential Democratic president since Lyndon Johnson.
Texas voters will decide Saturday on 270 bond propositions totaling $17.4 billion, which marks a drop in debt requests compared to the last two years. The proposed debt authorizations sought by schools, cities, and other issuers are down from the state’s biannual bond elections since November 2022 that all topped $20 billion, according to Texas
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK mortgage approvals hit their highest for 18 months in March, according to official figures that suggest the property market is continuing to recover despite recent rises in quoted rates. Net mortgage approvals rose to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Quitting while ahead makes sense when things start looking tough. The surprise announcement of HSBC chief executive Noel Quinn’s departure on Tuesday comes as investor sentiment towards China has weakened. Quinn, who took the top
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. St James’s Place has suffered a sharp drop in net inflows over the first quarter as the wealth manager grapples with customers withdrawing their money and potential redress payments to clients. The FTSE 100 company
It is standard fare for a politician to invoke family on the campaign trail. But it lands differently when the candidate is Robert F Kennedy Jr. When he talks about “my father” — and how no one thought he had a chance to win his bid for the presidency — he is talking about the
Apple has poached dozens of artificial intelligence experts from Google and has created a secretive European laboratory in Zurich, as the tech giant builds a team to battle rivals in developing new AI models and products. According to a Financial Times analysis of hundreds of LinkedIn profiles as well as public job postings and research
Stay informed with free updates Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox. The writer is international policy director at Stanford University’s Cyber Policy Center and special adviser to the European Commission Western governments are racing each other to set up AI Safety Institutes. The UK, US, Japan
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Grosvenor, the Duke of Westminster’s property company, is taking a big bet on flexible workspaces to meet West End office tenants’ post-Covid requirements and generate higher returns. The group, which owns large parts of London’s
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer, a Labour and Co-operative party MP, chairs the cross-party public accounts committee in the House of Commons For more than a decade I’ve had the privilege of scrutinising how government spends taxpayers’ money,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. HSBC’s chief executive Noel Quinn is to retire unexpectedly after five years, setting off a hunt for a successor at the UK-based bank. Quinn has overhauled the lender since taking charge in 2019, selling off
Stay informed with free updates Simply sign up to the UK inflation myFT Digest — delivered directly to your inbox. Prices of non-food items in UK supermarkets have fallen year on year for the first time since 2021, taking overall shop inflation below 1 per cent, according to industry data that will come as a
BNP Paribas and Macquarie have become two of the latest banks to push back their expectations of US interest rate cuts. A team of economists at French bank BNP said in a note that they expect the first Federal Reserve rate cut to take place in December, later than previously anticipated. “In light of stronger-than-expected
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Skydance and Shari Redstone’s holding company are offering a $3bn investment in Paramount in an effort to win support for a complex merger that has frustrated investors and led to the departure of the Hollywood