Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Diamonds of the kind that come from mines, not laboratories, got a fine endorsement last week from LVMH, the French luxury group that owns Bulgari and Tiffany & Co. “When it comes to jewellery, we
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A group of Thames Water bondholders has demanded an emergency meeting with the troubled utility’s management, seeking clarity on the situation at the UK’s biggest water supplier after its parent company defaulted on its debt
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. ExxonMobil’s chief financial officer said the US oil major is watching the “pretty troubling” geopolitical events in the Middle East and Russia closely as the company reported first-quarter profits that were below Wall Street expectations.
The last time an Italian man won a Grand Slam tennis tournament, ABBA were in the charts, The Omen was in cinemas and Jimmy Carter was on the campaign trail. That 48-year barren period came to an end in January when Jannik Sinner lifted the Australian Open trophy, leaving vanquished finalist Daniil Medvedev in his
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US private equity firm Thoma Bravo has agreed to take UK cyber security company Darktrace private in a transaction valuing the company at £4.3bn, marking the latest high-profile takeover of a London-listed group. The offer,
South Africa’s mining minister was campaigning in Rustenburg, the northern capital of the country’s platinum belt, when news broke of BHP’s £31bn proposal to take over Anglo American. Five weeks before critical general elections for the ruling African National Congress government, Gwede Mantashe was quick to shoot down the approach, telling the Financial Times that
Stay informed with free updates Simply sign up to the Mining myFT Digest — delivered directly to your inbox. Anglo American has rejected BHP’s offer to break up and buy the UK-listed miner, saying the proposal “significantly undervalues” the company and its future prospects and that the deal would be “highly unattractive” to its shareholders.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. I’m not about to argue that economists are useless. Nor will I argue that they should all be obviously useful. If some want to do research that might seem like “mathturbation” but that is actually
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Is immigration good for a country, or bad? This question always strikes me as unhelpful. It depends on the country. Even if we couch the question strictly in economic terms, things vary. Immigration adds millions
When UK ministers invited a fresh round of applications to the £4.8bn Levelling Up Fund for economically struggling areas in 2022, Durham county council was optimistic. Whitehall officials had praised a previous application from the north-east authority, which includes some of the UK’s poorest former mining communities, as an exemplar of “what a bid should
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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. Sequoia Capital, Silicon Valley’s best-known venture capital firm, has committed to investing in Elon Musk’s artificial intelligence start-up xAI, boosting the Tesla chief’s efforts to raise billions and take on OpenAI, Meta and Google. Musk
Stay informed with free updates Simply sign up to the Electric vehicles myFT Digest — delivered directly to your inbox. China’s control over a crucial battery material will make it nearly impossible for any electric-vehicle makers to qualify for the subsidy scheme at the heart of President Joe Biden’s flagship green tech legislation, South Korea
Shares of Los Angeles-based social media platform Snap jumped more than 30 per cent after its earnings beat analysts’ expectations as increasing demand for its advertising services boosted sales. The company’s revenue of $1.2bn in the first three months of 2024 was 21 per cent above the same period a year earlier. Net losses narrowed,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Microsoft beat expectations for revenue and cloud sales on Thursday in an earnings report that cheered investors who have been looking for signs of a pay-off from its investment in artificial intelligence. Revenue climbed 17
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Alphabet’s revenue jumped 15 per cent in the first quarter of 2024 and it announced it would pay its first dividend of 20 cents a share, buoyed by a rise in earnings across its main
Municipals saw losses Thursday following U.S. Treasuries to higher yields, while equities sold off after GDP growth slowed in the first quarter. While growth slowed, inflation was hotter, said ING Chief International Economist James Knightley, as the core PCE deflator rose 3.7% on an annualized basis, three-tenths of a point higher than expected. “Unsurprisingly Treasury yields
Stay informed with free updates Simply sign up to the Monetary policy myFT Digest — delivered directly to your inbox. The European Central Bank is likely to need extra interest rate cuts if global borrowing costs are pushed up by the US Federal Reserve maintaining its restrictive monetary policy stance, a top eurozone policymaker has
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. New York’s highest court has overturned Harvey Weinstein’s conviction for sex crimes and rape, and ordered a new trial for the once-powerful film mogul whose reported abuse of women fuelled the #MeToo movement. Weinstein was
Brightline, Florida’s privately owned passenger train, hit the tax-exempt market Thursday, after weeks of marketing, with more than $3.1 billion of low-investment grade and unrated bonds, some of which carried yields as high as 12%. The company enjoyed strong demand for all the paper, which was more than two times oversubscribed and saw more than
Kansas Gov. Laura Kelly on Wednesday vetoed tax cut legislation that she called “too expensive” and offered lawmakers a less-costly alternative. The Democratic governor, who in January vetoed a previous tax reduction bill passed by the Republican-controlled legislation, said the latest measure “jeopardizes our state’s future fiscal stability.” House Bill 2036, which cleared the House