Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. An ex-Goldman Sachs analyst who obtained sensitive information about deals the investment bank was advising on and used it to trade stocks has been handed a prison sentence of almost two years. Mohammed Zina was
Arriving weary and hungry from the bullet train in Hiroshima one night last spring, I trod the natural path by heading to a 7-Eleven convenience store for a can of beer, an onigiri rice ball and some fried chicken. In Japan’s cities, no matter the hour, one is never far from a bright haven of
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. The writer is an FT contributing editor, chair of the Centre for Liberal Strategies, Sofia, and fellow at IWM Vienna Uncertainty may reign in the world today, but we can be sure that the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Jailed opposition leader Alexei Navalny has died in a maximum-security prison in the country’s far north, Russia’s prison service has said. Navalny, 47 — President Vladimir Putin’s most prominent opponent and a fierce critic of
Investors are piling into stocks of European luxury goods and other sectors with exposure to China, believing they offer a safer way to profit from a possible recovery in the world’s second-largest economy than investing directly in its ailing stock market. The Stoxx Luxury 10 index — whose constituents derive around 26 per cent of
New assessments of Russia’s military capabilities and its threats to Nato’s security have led to a rising drumbeat of warnings from western governments and pressure to invest more heavily in defence. “We are living in truly dangerous times [and] at a point when large-scale conflict is more likely than it has been in recent history,”
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. When Thomas Suozzi won New York’s third congressional district in Tuesday’s special election, it was just the latest in a wave of impressive results for Democrats in off-cycle ballots. Averaged across the 57 contested elections
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. On average, women are paid less than men. And I’ll let you into a secret of the sisterhood: they don’t like it. Policymakers around the world have seized on a supposedly simple solution, which is
As shoppers were hitting the high street in the weeks leading up to Christmas last year, private equity firm Aurelius was eyeing a bargain of its own. The London-based fund manager announced in mid-November that it had scooped up British ethical beauty brand The Body Shop, buying it from Brazilian cosmetics conglomerate Natura in a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Prime Minister Rishi Sunak suffered a severe blow on Friday as the Labour party won the formerly safe Conservative seat of Kingswood, in what the opposition party hopes is a harbinger of victory at the
Brussels should incentivise Europe’s defence industry to increase production and promote consolidation, the president of the European Commission has said, as she warned the “world has got rougher”. Ursula von der Leyen said the commission was developing its defence industry strategy informed by the experience of using taxpayer cash to boost the production of Covid-19
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The White House on Thursday said it had received “troubling” intelligence that Russia is developing an advanced “anti-satellite capability”, confirming reports that had raised alarm bells among defence hawks on Capitol Hill. John Kirby, US
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Brussels should incentivise Europe’s defence industry to ramp up production and promote consolidation, the president of the European Commission has said, as she warned that the “world has got rougher”. Ursula von der Leyen said
The secondary market was active and trading showed strong prints across the curve, pushing triple-A yields lower following a stronger U.S. Treasury market. Triple-A yields fell two to four basis points while UST yields fell two to three basis points. Municipal bond mutual funds saw the second week of outflows, with LSEG Lipper reporting $142.2
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Microsoft is accelerating a push away from its own Xbox hardware, hoping to boost growth by selling more games on rival consoles as the industry reckons with a protracted slowdown. The technology group plans to
The Puerto Rico Oversight Board has brought on David Brownstein, who spent more than three decades at Citi with a focus on derivatives, distressed issuers and debt restructurings, as a restructuring advisor on its plan of adjustment for the Puerto Rico Electric Power Authority. Brownstein’s new boutique restructuring advisory firm, BGC Partners Advisory LLC, entered
The House Ways and Means Committee heard testimony from Internal Revenue Service Commissioner Daniel Werfel on Wednesday as he defended the $80 billion budget boost the agency received from the Inflation Reduction Act, an increase that bond lawyers have suggested will lead to increased audits. “There’s absolutely money being left on the table in terms
A measure to lift the federal deduction cap on state and local taxes failed to advance on a procedural vote in the House Wednesday, dooming the latest effort by high-tax state lawmakers to kill the controversial law. The SALT Marriage Penalty Elimination Act, sponsored by Rep. Mike Lawler, R-N.Y., would have doubled the current $10,000
Stay informed with free updates Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox. The writer is chief executive of Google and Alphabet Last year saw rapid and significant technological change powered by progress in artificial intelligence. Millions of people are now using AI tools to learn new things,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Jeremy Hunt has warned Conservative colleagues not to expect big tax cuts in his March 6 Budget, after a new set of internal fiscal forecasts showed he has dwindling room for manoeuvre. Rising government borrowing
The Chicago Park District Board of Commissioners on Wednesday unanimously approved ordinances laying the groundwork to issue roughly $26 million of general obligation limited bonds and $11 million of alternate revenue bonds, and to refund up to $145.9 million outstanding of Series 2021A bonds through a tender that would convert the taxable bonds to tax-exempt