The head of France’s far-right Rassemblement National party has said its brand of nationalist anti-immigration politics was winning the battle of ideas in the country and would also prevail in European parliament elections next year. Jordan Bardella, Marine Le Pen’s right-hand man who will lead the RN list in the June vote, described President Emmanuel
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Revolut swung to a loss last year as increased costs offset a windfall from higher interest rates, according to delayed annual accounts from the fintech group on Friday. The results came as the group’s auditor
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK economy shrank slightly in the third quarter, according to revised figures that highlight the country’s struggle to shake off its low-growth performance. The Office for National Statistics said on Friday that gross domestic
Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. China’s five biggest state-run banks cut deposit rates on Friday as Beijing strengthened efforts to protect lenders’ profitability and provide a buffer against further economic headwinds amid flagging growth. Chinese banks including the Industrial and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is a science commentator The October email might as well have asked if I would like to continue breathing. Would I consider representing my alma mater, it inquired, on Christmas University Challenge, a
Stay informed with free updates Simply sign up to the Social affairs myFT Digest — delivered directly to your inbox. The holiday season is a time to reflect on some important questions. How did the year go? Which gifts should you buy? What are the chances that over the next decade we’ll be wiped out
When Joe Biden broached the conflict in Gaza at a fundraiser in Washington earlier this month, his audience would not have immediately sensed anything out of the ordinary. The US president made a point of telling the Democratic donors gathered at the luxurious Salamander hotel on December 12 that America’s commitment to Israel was “unshakeable”.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US law firm Paul Weiss has signed the largest commercial office lease in the country this year, according to its new landlord, taking more than 18 floors of a Midtown Manhattan skyscraper in a move
Running Hong Kong’s stock exchange was never going to be an easy job for Nicolas Aguzin, but some who worked with the former star JPMorgan banker say the task was not helped by some of his more unconventional ideas. Months after joining Hong Kong Exchanges and Clearing as chief executive in May 2021, Aguzin proposed
Nike warned of a softer revenue outlook in its second half and that it planned to cut $2bn in costs over the next three years, ultimately sending its shares more than 7 per cent lower in after-hours trading. The athletic apparel group said Thursday that areas of potential savings included simplifying its product mix, increasing
Stay informed with free updates Simply sign up to the US politics & policy myFT Digest — delivered directly to your inbox. Joe Biden has thrown his support behind investigating Nippon Steel’s purchase of US Steel on national security grounds, despite Japan’s status as one of Washington’s closest allies. Nippon’s proposed $14.9bn acquisition of the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Jeremy Hunt has raised the prospect of the Bank of England reducing interest rates in 2024, saying a cut would be a crucial moment in shifting the economic mood in what is expected to be
Municipals were little changed Thursday as inflows to municipal bond mutual funds returned. U.S. Treasuries were weaker five years and out, and equities ended up. The two-year muni-to-Treasury ratio Thursday was at 58%, the three-year at 59%, the five-year at 59%, the 10-year at 59% and the 30-year at 86%, according to Refinitiv Municipal Market
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A striking story is bubbling away in the private capital world about Chinese tech company ByteDance, owner of the short-form video platform TikTok. This is not (just) about accusations that TikTok’s user community has a
News of the $68 billion budget deficit projected for California in fiscal years 2022-23 and 2023-24 raised alarm bells. But several state budget watchers say longer-term trends are less worrying. Though S&P Global Ratings revised the state’s outlook to stable from positive Friday, the rating agency has said the state remains solidly in the double-A
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK government has said its plans to increase the salary threshold needed to sponsor a loved one for a visa will begin with a jump to £29,000, after a widespread backlash to proposals to
Fitch Ratings has raised the Illinois Sports Facilities Authority’s bonds to investment grade, bumping the authority’s rating two notches to BBB from BB-plus, with a rating outlook of stable. The ISFA issued bonds for Guaranteed Rate Field, home of the Major League Baseball Chicago White Sox, and Soldier Field, home, at least for now, of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. BlackRock’s push into alternative investments led it to hold talks with Warburg Pincus as the world’s largest money manager seeks a transformational deal that could reshape the $27tn private funds industry. The two investment groups
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Bank of England is likely to incur much bigger losses on its quantitative easing programme than other central banks, according to an analysis by a former member of its interest rate-setting committee. Michael Saunders,
The New York City retirement systems increased their investments in climate solutions by 24.7% in fiscal 2023, according to city comptroller Brad Lander. The city’s retirement portfolio of climate investments stood at $10.5 billion as of June 30. “Preserving a livable planet and a thriving economy will require a collective global commitment both to the phase-out
The Regents of the University of California appears to have dropped Citigroup as a senior manager on an upcoming deal. The issuer is set to come to market with general revenue bonds the week of Jan. 21, according to the university’s investor website. The deal is of an unknown size and preliminary offering documents were