Maskot | Digitalvision | Getty Images While homeownership is out of reach for many Black Americans, most still see it as a hallmark of success. About 66% of Black Americans consider themselves successful in some way, according to a recent study by the Pew Research Center. Slightly more than half of all those surveyed, 52%, believe
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Early on in his leadership, Sir Keir Starmer would occasionally address the scale of the task he faced by saying that he needed to do in just five years what Neil Kinnock, John Smith and
Stay informed with free updates Simply sign up to the Capital markets myFT Digest — delivered directly to your inbox. Chris Rokos’s hedge fund has racked up profits of more than $1bn so far this year after a bet on US interest rates paid off. Rokos Capital Management, which manages just under $16bn of assets,
While pension funded ratios for states and other municipal issuers have improved in the last five years, measures of pension safety have deteriorated, analysts say. The condition of pensions is still the “elephant in the room” for municipal bonds, said HilltopSecurities Managing Director Tom Kozlik. Supporting pensions absorbs a large percentage of government spending. “That’s
Stay informed with free updates Simply sign up to the US politics & policy myFT Digest — delivered directly to your inbox. It pays in US politics to follow the money. In Donald Trump’s case, the money is flowing away from him in the form of various fines and damages — roughly $530mn worth in
New houses are seen for sale at Woodland Village, built by Lifestyle Homes housing developer, in Cold Springs, Nevada, on June 28, 2023. Andri Tambunan | AFP | Getty Images Mortgage interest rates surged last week to the highest level since early December, and that hit mortgage demand hard. Total application volume plunged 10.6% compared
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The former chair of the Post Office has released a memo that alleges he was told by a senior civil servant to stall requests for government support and develop a financial plan to “hobble” into
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Bankers’ bonuses in Asia have been plunging. But not for Noel Quinn. Total pay for the HSBC chief executive nearly doubled to £10.6mn ($13.4mn) in 2023. The Asia-focused lender also boosted its overall bonus pool
Stay informed with free updates Simply sign up to the Pensions industry myFT Digest — delivered directly to your inbox. Once upon a time, big US companies provided their longtime employees with clearly defined pension benefits that guaranteed them enough to live on for the rest of their lives. That fairy tale ending disappeared for
Stay informed with free updates Simply sign up to the Science myFT Digest — delivered directly to your inbox. As some accounts have it, the stones were first noticed in around 2500 BCE by a shepherd in Magnesia, in what is modern-day Turkey. He observed that they clung to the nails in his shoes. The
“Huge numbers of independent financial advisers are incompetent,” Peter Hargreaves, co-founder of Hargreaves Lansdown, told the Financial Times in 2007, on the eve of the investment manager’s flotation. The plan was simple. Hargreaves Lansdown would enable customers to bypass the old guard of financial advisers and dispel the notion that investing was solely the preserve
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. HSBC’s pre-tax profits fell 80 per cent year on year in the final three months of 2023 as it took a $3bn charge on the value of its stake in China’s Bank of Communications, the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. England needs as many as half a million new homes a year to keep up with the country’s rising population, according to a Financial Times analysis — far more than either the Conservatives or Labour
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A British nuclear missile test failed after the Trident weapon crashed into the sea near to the submarine that fired it, in another embarrassing flop after the UK’s last trial launch also failed eight years
Stay informed with free updates Simply sign up to the UK tax myFT Digest — delivered directly to your inbox. UK households are set to end up in a “tax sandwich” where potential cuts at Jeremy Hunt’s upcoming Budget sit between big earlier tax increases and further rises after the general election, a leading think-tank
US stocks fell on Tuesday, with chipmaking giant Nvidia recording its worst day since October ahead of its quarterly earnings report on Wednesday. The blue-chip S&P 500 fell 0.6 per cent, while the tech-heavy Nasdaq Composite fell 0.9 per cent, both driven by a sell-off in tech stocks. Chipmaker Nvidia fell 4.4 per cent, its
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Citigroup has lifted chief executive Jane Fraser’s pay by 6 per cent in 2023 to $26mn, despite the bank’s profits falling almost 40 per cent amid a sweeping reorganisation. The bank said in a regulatory
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Sequoia Capital has aborted an attempt to oust its former partner Michael Moritz from the board of Klarna, days after the Silicon Valley venture capital firm launched an extraordinary bid to unseat him as chair
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump entered the 2024 election year with about 200,000 fewer donors than in the previous presidential campaign four years ago, raising questions about his fundraising machine just as legal bills eat into his war
Municipals were little changed Tuesday as most investors were awaiting new-issue supply, U.S. Treasuries offered little direction in a mixed session and equities were down near the close. Wednesday will see the release of January’s Federal Open Market Committee Meeting minutes, which “should show any division amongst the committee members as to the continued direction
Kemi Badenoch, business and trade secretary, was on Tuesday locked in a new political row, this time over her contested claim that she was engaged in trade talks with Canada, negotiations Ottawa insists do not exist. Badenoch told MPs “explicitly” on January 29 that talks with Canada were “ongoing” to avoid a March 31 tariff