The semiconductor industry has begun the year with growing confidence that it left its latest cyclical downturn behind in 2023, as analysts hail a “turning point” for the $600bn market. But behind headline forecasts of a double-digit recovery in chip spending this year lies uncertainty about how broadly based that bounceback will be, as rising
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Taiwan started counting votes on Saturday afternoon in a pivotal presidential and parliamentary election that could influence China’s approach to its democratic neighbour. The eighth national vote since the country of 23.5mn first held free
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Post Office scandal was uncovered not by officialdom but by dogged, independent-minded heroes. These included journalists at the BBC, Computer Weekly and Private Eye; an engineer who blew the whistle at Fujitsu; several MPs;
Vijay Parekh had just turned 50 when the Post Office took him to court on trumped-up charges alleging he had stolen tens of thousands of pounds from the government-owned business. The former sub-postmaster, now 65, was pursued by investigators and lawyers acting for the Post Office, who tried to convince him that pleading guilty would
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US has bombed Iranian-backed Houthi rebels in Yemen for the second day in a row, fuelling concerns that the conflict in the region could escalate. US Central Command described the attack on a radar
Stay informed with free updates Simply sign up to the Life & Arts myFT Digest — delivered directly to your inbox. Dinner with friends. All junior in age, all prolific readers. I come with bad news, and it isn’t humane to postpone or embroider these things. Literature — I notify them — is a lesser
BlackRock chief executive Larry Fink has been searching for years for the right private markets partner to make his $10tn money manager as formidable a player in alternative investments as it is in traditional asset management. His overtures to private equity, private credit and hedge funds rarely got beyond the first meal. Often the cultures
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Post Office claimed tax relief on compensation it paid to victims of the postmasters scandal, sparking warnings that it risks a £100mn bill and insolvency if authorities rule the move unlawful. In its latest
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The right thing for investors to do in 2023 was to ignore the worrywart consensus huggers (myself included) and leap with both feet in to a heady portfolio of the zingiest stocks. You only live
Washington state’s rating outlook was revised to positive from stable Thursday by S&P Global Ratings, citing the state’s growing economy and strong reserves. The outlook revision means there is a one-in-three chance the state could have its AA-plus rating upgraded to AAA by S&P over the two-year outlook period, said Oscar Padilla, an S&P director.
Puerto Rico Secretary of the Treasury and Chief Financial Officer Francisco Parés Alicea will resign effective Jan. 31. Gov. Pedro Pierluisi announced the resignation and said Nelson Pérez Méndez will serve as the interim Secretary of the Treasury. Pérez Méndez was deputy director of the Fiscal Agency and Financial Advisory Authority, focusing on the central
Municipals were little changed ahead of a holiday-shortened week, while U.S. Treasuries were firmer 10 years and in and equities were mixed near the close. The muni market, as expected, has “remained in a sideways mode” so far in this year with muni-UST ratios grinding lower, said BofA Securities strategists in a weekly report. While
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Iowa caucuses on Monday night will mark the official start of the presidential primary season and serve as an early test of Donald Trump’s frontrunner status for the party’s nomination for the White House.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. When Dave Calhoun, chief executive of Boeing, addressed its employees this week about a brush with disaster on a 737 Max aircraft carrying 171 passengers, he choked up. “I got kids, I got grandkids and
Stay informed with free updates Simply sign up to the Cryptocurrencies myFT Digest — delivered directly to your inbox. The writer is chief executive and chief investment officer of Richard Bernstein Advisors Proof of concept typically means evidence that a design idea is feasible. Cryptocurrency enthusiasts have suggested that the approval of bitcoin ETFs by
First Eagle Investments has hired John Suh and Andrew Belsky as credit analysts as the firm continues to build out its high-yield team under Chief Investment Officer and high-yield manager John Miller. Suh, based in New York, previously was a trader/analyst on the high yield desk in JPMorgan’s public finance division. He was at JPMorgan
UBS has settled charges with the Financial Industry Regulatory Authority, agreeing to a censure and a $100,000 fine for failing to include the Non-Transaction Based Compensation indicator when reporting 91,059 municipal securities transactions to the Municipal Securities Rulemaking Board. For this, UBS violated MSRB Rule G-14 on customer transaction reporting, which requires firms to report
Just a day after the Israel-Hamas conflict began, the US sent its newest, most advanced aircraft carrier to the eastern Mediterranean. Washington hoped the USS Gerald R Ford strike carrier group, plus further US forces, would deter Iran and its myriad proxies in the region and contain the crisis. But three months later, the US
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US aviation regulators said on Friday they were considering whether to strip Boeing of its right to conduct some of its aircraft inspections, the latest fallout after a door panel blew out of a 737
Stay informed with free updates Simply sign up to the UK inflation myFT Digest — delivered directly to your inbox. Hopes that inflation will fall much quicker than the Bank of England expects have been boosted by a key commodity that feeds into its forecasts, lifting the UK’s economic prospects ahead of the general election
In September 2015, then Bank of England Governor Mark Carney gave a speech in which he famously referred to the “Tragedy of the Horizon.” He was referring to the fact that financial markets tend to mis-price climate risk because the perceived timing for such risk lies far into the future, beyond the normal investment horizon