Last May, Lord Jacob Rothschild hosted a 100th birthday lunch for former US secretary of state Henry Kissinger at Waddesdon Manor, his 19th-century French château in the Buckinghamshire countryside. Among the illustrious guests were former British prime ministers Tony Blair and John Major; private equity titan Stephen Schwarzman; media barons Rupert Murdoch and Michael Bloomberg;
Angry mobs clashing with police in eastern cities. Networks of saboteurs smuggling arms across the border for attacks on police stations and military barracks. A resentful nuclear power boosting defence production as it accuses its neighbour of ethnic cleansing. These all sound like Russia’s playbook when it first invaded Ukraine in 2014, then launched a
As Chancellor Jeremy Hunt and his Treasury team work through the detail of fiscal policy ahead of the Budget on March 6, officials in Manchester are occupied by a very different set of problems. By last week, council offices in the northwestern city were experiencing queues of 70 to 80 refugees every day in search
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Chancellor Jeremy Hunt is set to announce new investment to boost public sector productivity as he seeks to curb the growth in government spending and focus on tax cuts in next week’s Spring Budget. A
Stay informed with free updates Simply sign up to the UK financial regulation myFT Digest — delivered directly to your inbox. The UK’s top financial regulator is resisting Jeremy Hunt’s effort to make pension funds reveal more about their investments, setting the scene for a clash with the Treasury ahead of next week’s Budget. The
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. On Tuesday morning, five days before the 2024 Tokyo Marathon, the sportswear supremo and race sponsor, Asics, was forced to issue a formal apology over something it might have embraced. An illustrated map of the
Tech stocks fell by the most in a week in another session of declines for Wall Street’s major indices. The tech-heavy Nasdaq Composite closed 0.5 per cent lower on Wednesday, its biggest one-day drop since February 20. The S&P 500 dropped 0.2 per cent. The Nasdaq closed at a record high on February 22, while
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Joe Biden is “fit for duty”, his doctor said on Wednesday, following his annual physical examination in which he identified “no new concerns” about the president’s health. “He continues to be fit for duty and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US Supreme Court has agreed to take up an appeal over whether Donald Trump is immune from criminal prosecution for acts committed in office, putting another potentially blockbuster case involving the former president on
Puerto Rico leaders and analysts highlighted fiscal risks facing Puerto Rico’s central government, including a change in how multinationals are taxed, that could, if unresolved, jeopardize future bond payments. At the Puerto Rico Oversight Board meeting Wednesday, board Executive Director Robert Mujica Jr. said the government faced major risks in the coming fiscal years, including
Municipals were mostly steady in secondary trading Wednesday with the focus on the primary market as New York City saw yields rise significantly on the short end as institutional investors demanded more ahead of a growing New York issuance slate. U.S. Treasuries were firmer and equities ended down. The Investment Company Institute reported inflows into
A New York judge has denied Donald Trump’s request to temporarily stop the state’s attorney-general from collecting on a $450mn judgment against the former US president as he appeals against the civil fraud ruling. The decision on Wednesday means Trump will have to find hundreds of millions of dollars to deposit with the court, or
The city of Los Angeles will receive nearly $60 million in long-awaited federal reimbursements from the Federal Emergency Management Agency to cover housing expenses associated with the COVID-19 pandemic as part of a larger $300 million package of pandemic-related funding. City officials learned of the reimbursements from the California Office of Emergency Services in one
Stay informed with free updates Simply sign up to the UK inflation myFT Digest — delivered directly to your inbox. The Bank of England is struggling to bring inflation back to target because price rises are increasingly driven by people who are immune to the pressures of higher interest rates, a senior policymaker has said.
In this article Follow your favorite stocksCREATE FREE ACCOUNT Chesnot | Getty Images Retail traders appear to be using a new tool during this huge rally for bitcoin — exchange-traded funds. The funds, which launched last month, have seen their trading volume surge this week as bitcoin continues to climb. For example, the iShares Bitcoin
In this photo illustration, the Webull Financial logo seen displayed on a smartphone screen. Rafael Henrique | SOPA Images | LightRocket | Getty Images Webull is planning to go public through merging with a special purpose acquisition company in a deal that values the digital investing platform at $7.3 billion. The New York-based online brokerage
Morgan Stanley has hired four former Citi public finance employees, becoming the latest firm to tap the talent from Citi’s shuttered municipal business. Three of the new hires will be group heads in key public sector and structured finance businesses, a source said. Alex Zaman is the new head of Surface Transportation and Urban Development
Proponents of the Modernizing Agricultural and Manufacturing Bonds Act which could expand aggie bond issuance are pessimistic about the possibility of any congressional movement this year. Versions of MAMBA have been bouncing around in both houses of Congress since 2017 as a proposed bipartisan update to regulations governing aggie bonds. The legislation is also designed
Stay informed with free updates Simply sign up to the UK tax myFT Digest — delivered directly to your inbox. Jeremy Hunt has drawn up emergency Budget plans to scrap or scale back Britain’s “non-dom” tax rules, in the event that he needs to raise billions of pounds to fund mass-market pre-election tax cuts. The
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Many people have seen enough of artificial intelligence by now to appreciate its potential benefits to humanity, as well as its risks. Not so many may be aware of what a big guzzler of natural
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Mitch McConnell, the longest-serving Senate leader in US history who has played a pivotal role in Washington for decades, will step down from his post as the Republican minority leader in November. McConnell announced his