Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US has urged Israel not to expand its military attacks in Gaza to Rafah, warning that a major operation in the southern town where more than a million displaced people are sheltering would be
Stay informed with free updates Simply sign up to the UK banks myFT Digest — delivered directly to your inbox. Barclays has agreed to buy the bulk of Tesco’s banking business in a £600mn deal, as UK supermarket chains accelerate their retreat from financial services. Barclays said on Friday that it would take on Tesco
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. OpenAI’s revenues have surpassed $2bn on an annualised basis, as the runaway success of its flagship artificial intelligence product ChatGPT puts it among the fastest-growing technology companies in history. The San Francisco-based start-up’s yearly run
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Memo to economic policymakers. Global capital is unhappy with the deleterious impact of competition between financial centres on standards of corporate governance and shareholder protection. That much is clear from the pungent critique of proposed
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The extent to which young people tend to vote more for leftwing parties and older people for conservatives is often overstated. For all the talk of Donald Trump’s toxicity to America’s diverse youth, almost 40
Adam Neumann’s skill at wooing investors and bankers powered WeWork from a tiny start-up to a continent-spanning co-working giant that touched a $47bn valuation before a crash that led to his abrupt exit in 2019. This week, the charismatic co-founder reappeared, looking to convince a new set of financial titans to let him lead WeWork
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Ministers have lowered performance standards for the UK’s largest rail franchise after its operator Govia Thameslink Railway failed on most measures of service quality in the first year of its contract. The softening of the
Joe Biden bristled during a fiery appearance at the White House on Thursday night as reporters pounded him with questions about his age and mental fitness to be president. “I know what the hell I’m doing,” said Biden, who is 81. “I’m the most qualified person in this country to be president of the United
The US has been Israel’s staunchest ally since Hamas fighters attacked it on October 7. But as US secretary of state Antony Blinken ended his latest visit, it was the two countries’ deepening divisions that were most clearly on display. After a day of meetings between US and Israeli officials, Benjamin Netanyahu, Israel’s prime minister,
Vladimir Putin on Thursday said he believed “an agreement can be reached” to free imprisoned US journalist Evan Gershkovich, suggesting he would swap him for a Russian assassin serving a life sentence in Germany. Russia’s president compared Gershkovich’s imprisonment in Moscow to “a person serving a sentence in an allied country of the US”, a
The S&P 500 stock index has touched the milestone of 5,000 for the first time, setting a fresh record high as a narrow group of companies continued to drive the benchmark upwards. The basket of blue-chip US stocks rose as high as 5,000.4 on Thursday, seconds before closing the session 0.1 per cent higher at
A US Department of Justice report on Thursday cast Joe Biden as a “well-meaning, elderly man with a poor memory” in a damaging portrayal of the president even as he was spared from criminal charges following a months-long probe. The report from special counsel Robert Hur, who oversaw the DoJ’s investigation into Biden’s handling of
Municipals were steady to a touch firmer in spots Thursday, more new-issues saw strong demand while small outflows returned to muni mutual funds. U.S. Treasuries were weaker, and equities ended up. After four weeks of inflows into muni mutual funds, outflows returned, with LSEG Lipper reporting $121.1 million of outflows for the week ending Wednesday
Ex-IFS Securities trader Keith Wakefield committed securities and wire fraud when, as the broker-dealer’s head of fixed income, the Chicago resident made forbidden speculative trades and embezzled hundreds of thousands of dollars over a two-year period, an Illinois federal court jury found this week. According to the U.S. Attorney’s Office for the Northern District of
The slow rolling demise of the Highway Trust Fund combined with uncertainty about an eventual Bipartisan Infrastructure Law reauthorization has states and industry leaders exploring new funding and financing options. Sales tax charged on gasoline and diesel fuel remain the main engine powering the funding stream that states use to maintain roads, bridges, and public
The Securities and Exchange Commission’s recent suspension of the Municipal Securities Rulemaking Board’s rate card model is causing some confusion in the market, as the fees set for 2023 are now in effect for this year. That’s according to Mark Kim, chief executive officer at the MSRB, speaking during the Bond Buyer’s 2024 National Outlook
Jason Lisec was named head of HilltopSecurities’ fixed income capital markets. He had been co-head of the department since 2020. “Jason has a proven record as an outstanding leader who brings clarity, decisiveness and expertise to his role with our fixed income capital markets division,” said HilltopSecurities CEO Brad Winges. “He has established great partnerships
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Sir Keir Starmer has long argued his party would give businesses the certainty they need to invest in the UK. But the Labour leader’s volte-face on his green investment plan showed how hard that is, even
Children’s Health and UT Southwestern Medical Center unveiled plans Wednesday for a $5 billion pediatric health campus in Dallas that will be financed in part with bonds. The project, which is expected to be completed in six to seven years, includes an approximately 2 million-square-foot hospital with three towers that will replace the existing Children’s
Stay informed with free updates Simply sign up to the US foreign policy myFT Digest — delivered directly to your inbox. Billions of dollars in US aid to Ukraine were hanging in the balance on Thursday, as several Republican lawmakers voiced fresh disapproval for a new bill that would send $60bn in additional support to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Is there any way that a company can still be considered a bargain if its share price has risen more than five-fold in little more than a year, putting it on the verge of becoming