Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Retail investors poured money into gilts and passive funds in 2023, as they looked to capture yields driven up by high interest rates and to spread the risks of economic uncertainty. Interactive Investor, the UK’s
Federal Reserve Bank of New York President John Williams said it’s too early for officials to begin thinking about cutting rates as soon as March as they consider whether policy is restrictive enough to get inflation back to 2%. “We aren’t really talking about rate cuts,” Williams said Friday in an interview on CNBC. He
Noel Hendrickson/Getty Images After a year full of record-high interest rates and home prices, experts say there are signs of improvement for the housing market in 2024. In December, the average mortgage rates dropped below 7% for the first time since August and after an 8% peak in October, which pushed housing costs to the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is an FT contributing editor, the chair of the Centre for Liberal Strategies, Sofia, and fellow at IWM Vienna “There’s a man — Viktor Orbán — did anyone ever hear of him?” Donald
Puerto Rico Electric Power Authority bond parties presented the court with written expert testimony supporting their claim the Oversight Board’s proposed plan of adjustment assumptions underestimate Puerto Rico’s economic future and overestimate PREPA’s future expenses. The testimony could impact U.S. District Court Judge Laura Taylor Swain’s ruling on the plan, according to an attorney not
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Shari Redstone fought for years to take over her family’s media empire, enduring a bitter succession saga in which her own father was her biggest obstacle. Now, four years after finally taking the reins, the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK business activity rose at the fastest pace in six months in December, according to a closely watched survey that suggests economic output might not fall in the final quarter. The S&P Global/Cips flash UK
Stay informed with free updates Simply sign up to the Technology sector myFT Digest — delivered directly to your inbox. A California jury did not have much time for Google this week. After a four-week trial, it took less than four hours to decide that the company had broken antitrust laws to make billions from
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. EU leaders gathering in Brussels have vowed to find a way to support Ukraine after Hungary’s Viktor Orbán vetoed a €50bn lifeline for the war-torn country. Estonia’s Prime Minister Kaja Kallas said that “Ukraine will
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US national security adviser Jake Sullivan said it would neither “make sense” nor be “right” for Israel to reoccupy Gaza, as American and Israeli officials continue to push diverging visions of the strip’s postwar future.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Ukraine badly needs financial, military and political support from its western allies. On the latter, at least, the EU has come good. On financial aid, it has failed to step up to the plate at
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. This article is an on-site version of our Europe Express newsletter. Sign up here to get the newsletter sent straight to your inbox every weekday and Saturday morning Good morning. A mega scoop to start:
Chinese spies had run a far-right Belgian politician as an intelligence asset for more than three years in a case that shows how Beijing has conducted influence operations in an effort to shape politics in its favour. Daniel Woo, an officer in China’s Ministry of State Security spy agency, pushed Frank Creyelman, a former Belgian
The Spanish town of Marbella, on the country’s south coast, is popular among overseas buyers. Artur Debat | Moment | Getty Images There are three European countries that are “perennial favorites” for people to buy a vacation home, according to Kate Everett-Allen, a partner at real estate firm Knight Frank. France, Italy and Spain all
When can investors expect inflation to fall and central banks to ease the pressure on interest rates? This was the question that dominated stock markets in the US, UK and eurozone in 2023. After the US Federal Reserve raised rates to tackle soaring inflation, investors agonised over whether the Fed had done enough to tame
Before big games at Paris Saint-Germain’s home ground, the crowd of diehard ultras, well-heeled French elites and international celebrities are treated to a pyrotechnic show as a booming voice reminds them: “Ici, c’est Paris”. Over the past year the French champions have also hosted executives from US investment group Arctos Partners, which has been thrashing
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The past 12 months have provided a fascinating experiment in the effectiveness of different conservative strategies on immigration. Canada and Britain are large English-speaking countries whose conservative parties each appointed a new, young leader in
Clifford Asness’s office is an odd mix of finance old-timer and teenage bedroom. Books about Churchill stand alongside DC Comics encyclopaedias, the sea of family photos is dotted with islands of vintage Marvel memorabilia, and next to his computer a jar of Pepcid sits next to a jumbo bottle of sriracha. The Pepcid has probably
Citigroup will close its municipal division by the end of the first quarter of 2024, leaving behind a historic tenure in a market it once dominated in both underwriting and secondary market-making. The firm decided to “wind down our municipal underwriting and market-making activities” after a “broad-based review” of its muni business, according to a
RTX says over the summer it discovered issues with an estimated 1,200 P&W engines fitted to Airbus commercial jets © Reuters US aerospace and defence group RTX has appointed the former head of its Pratt & Whitney business as its new chief executive, as it continues to navigate the recall of aircraft engines made by
Municipals rallied hard Thursday, playing catch up to the moves in U.S. Treasuries, which extended their gains for a second session following the Federal Open Market Committee’s clear communication of future rate cuts in 2024. Equities continued their rally. Triple-A yields fell 13 to 17 basis points, depending on the curve, but the gains were