Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Markus Jooste, the former chief executive of retailer Steinhoff allegedly at the heart of South Africa’s largest corporate fraud back in 2017, has died, according to a person close to him. Jooste’s death comes a
Stay informed with free updates Simply sign up to the Property sector myFT Digest — delivered directly to your inbox. That doughty — somewhat dull — Canadian insurance company known as Manulife does not often attract attention. This week, however, it caused a frisson in the real estate world. Shortly before Jay Powell, Federal Reserve
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US is suing Apple for allegedly using its power in the smartphone sector to quash competition from rivals and limit consumer choice, in the latest broadside against the dominant Big Tech companies from Joe
Stay informed with free updates Simply sign up to the Middle Eastern politics & society myFT Digest — delivered directly to your inbox. The writer is author of ‘Black Wave’, distinguished fellow at Columbia University’s Institute of Global Politics and an FT contributing editor A year has passed since Saudi Arabia and Iran made their
Initial funding for a $2.55 billion bond-financed terminal project at Houston’s George Bush Intercontinental Airport is moving forward after months of delays. The city council on Wednesday appropriated $150 million, which marks the first portion of the city’s share of the project that will be financed with up to $624 million of general airport revenue
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is a former central banker and a professor of finance at the University of Chicago’s Booth School of Business The push for international openness to trade and capital flows has always been an
Belmont, North Carolina, Myers Park, large brick mansion with for sale sign in front yard. Jeff Greenberg | Universal Images Group | Getty Images Sales of existing homes surged 9.5% in February from January to 4.38 million units, on a seasonally adjusted annualized basis, according to the National Association of Realtors. Housing analysts had been
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Short sellers have amassed a record bet of almost €1bn against the shares of Telecom Italia, as chief executive Pietro Labriola seeks investors’ backing for an asset sale to slash debt. Data from S&P Global
With the high-yield municipal bond market riding a tide of inflows and new deals in 2024, investors say Citigroup’s December exit from the space appears manageable so far, but that the true test will come when flows reverse and the market has to fare without its longtime, go-to liquidity provider. For a thinly traded market
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Bank of England has kept UK interest rates on hold at 5.25 per cent, pushing sterling lower as the central bank signalled it is edging closer to cutting borrowing costs. Governor Andrew Bailey said
The Kentucky State Property and Buildings Commission has $649 million of bonds on the calendar next month in a deal that will refund all of its outstanding Build America bonds, provide new money for capital projects and include a tender offer. Separately, the Kentucky Housing Corp. and the Kentucky Infrastructure Authority are seeking firms to provide
The whistleblower who brought a lawsuit charging Wall Street banks with rigging the state of Illinois’ variable-rate bonds will receive a $14.4 million payout under a final settlement that ends the decade-long case. The payout is part of a $70 million agreement that the group of eight banks agreed to pay last year to end
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK government is facing a compensation bill of up to £10.5bn after an Ombudsman on Thursday ruled it had mishandled state pension age rises affecting millions of women born in the 1950s. In a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Turkey’s central bank surprised economists and investors on Thursday with a big rate rise as policymakers seek to cool runaway inflation and halt an accelerating capital flight among local savers. The central bank increased its
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. For all the angst about polarisation and disinformation, something very different is in fact going on in news consumption: the mass-media age is ending. We’re returning to a time when most people get almost no
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Being an old-school broker in the City of London ain’t what it used to be. Technology and competition have hurt profitability in traditional dealing services. Look at stalwart TP ICAP: the part-creation of Michael Spencer
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Australia and the UK have signed a defence and security agreement, deepening their ties in the face of rising Chinese power in the region. Australian defence minister, Richard Marles, and his UK counterpart, Grant Shapps,
You can enable subtitles (captions) in the video player Lego’s fundamental business model is it buys ABS plastic for about $1 a pound and sells it back to us for about 50 times that. There’s probably more Minifigures on the planet than there are humans. I mean, there has to be. I buy and sell
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Apple chief Tim Cook has said China is “critical” to its business in comments made during a visit to the country, where consumers are showing signs of souring on the company’s iPhones and US technology.
Argentina’s libertarian president Javier Milei has launched an aggressive campaign to overhaul state-owned companies from an airline to an oil group and the postal service as lawmakers hold back his plans to privatise them. Milei, who counts Margaret Thatcher among his political heroes, on the campaign trail described privatising Argentina’s state companies as a top
One hundred years ago on Thursday, Edward Leffler, a former door-to-door salesman of pots and pans, revolutionised financial markets. His invention, the open-ended mutual fund, allowed retail customers to buy into a diversified portfolio of stocks and be confident that they would get a fair value when they wanted their money back. Leffler’s innovation gave