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
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Senior British MPs have raised concerns about TikTok’s ownership in the UK, after the US House of Representatives last week approved a bill that would ban distribution of the video app unless it is sold
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Investing is not immune to passing fashions. In recent years, it has mainly been a macro game, with Fed tea-leaf readers, consumer-spending trackers and China analysts much in demand. Big shifts have sunk whole sectors
Stay informed with free updates Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox. In a viral TikTok video, celebrity podcaster Joe Rogan appears to deliver a damning message: “We are all probably going to die in the next few years. Did you hear about this? There’s this asteroid
The party to celebrate the relaunch of the Sotheby’s London real estate franchise did not cost £2.5mn. George Azar would like to be clear about that. The world of luxury London estate agents has been awash with rumours about Azar, and his ambition to disrupt the business of selling multimillion pound homes to the global
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Federal Reserve officials unleashed their optimism on Wednesday, unveiling projections for faster than expected US economic growth this year while still leaving room to cut interest rates three times. It was a moment of vindication
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Changes to UK planning rules introduced by the ruling Conservative party last December are already causing local councils to cancel housing developments. The reforms to the National Planning Policy Framework (NPPF) introduced by Michael Gove
Shares of Micron surged more than 12 per cent on Wednesday after the US chipmaker swung to a profit for the first time since 2022 and shared a rosy outlook for the current quarter, crediting strong demand for artificial intelligence-related products. Micron projected $6.6bn in revenue for the current quarter, about $600mn higher than analysts
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. FTX’s caretaker chief executive has branded Sam Bankman-Fried a deluded criminal who masterminded a “colossal fraud”, and accused the bankrupt cryptocurrency exchange’s founder of lying about the losses incurred by former customers in an attempt
State tax revenue collections are softening and some are even negative compared to a year earlier, analysts say. “Most states are now grappling with weakened tax revenues and growing uncertainties, particularly related to the presidential election, potential federal policy changes, and geopolitical crises,” said Urban Institute Principal Research Associate Lucy Dadayan. “Overall, growth in state
Municipals were weaker Wednesday with the largest losses on the front end, leading to muni to UST ratios rising slightly there as a result of a firmer U.S. Treasury curve10 years and in, while equities rallied after the Federal Open Market Committee kept rates unchanged. Treasury bonds rallied after the announcement as the market interpreted
S&P Global Ratings on Wednesday upgraded Louisiana’s general obligation bonds to AA from AA-minus. S&P also raised the long-term rating on the state’s appropriation-backed debt to AA-minus from A-plus. “The upgrades reflect our view of Louisiana’s demonstrated commitment to improving and maintaining reserves above levels that we consider very strong and the state’s ongoing effort
The Securities and Exchange Commission to is under fire from lawmakers and the financial industry regarding the volume and scope of regulations raining down from the regulator under the leadership of Chairman Gary Gensler. “Chair Gensler’s frenetic partisan rulemaking agenda at the SEC has threatened the health of U.S. capital markets and highlights the need
A proposed settlement with firefighters would cost Houston about $72 million a year to cover debt service payments on $650 million of judgment bonds and to fund pay hikes under a five-year contract, the city council learned Wednesday. The deal announced by Mayor John Whitmore last week got its first public airing at the council
The state of California has published its fiscal year 2022 annual comprehensive financial report, marking the fifth year in a row the state’s ACFR has been significantly delayed. The audited financial statements were dated Friday and announced Monday by State Controller Malia Cohen, almost a full year later than the state’s internal goal of releasing