Javier Milei is pledging rapid reforms to halt Argentina’s decline as he takes the reins of a country in a deep economic crisis three weeks after winning the presidency with an insurgent anti-establishment campaign. Argentina’s markets have rallied since the election in response to a pragmatic shift from Milei, a first-term congressman who only founded
During their swift takeover of Gaza in 2007, Hamas militants from the group’s Khan Younis stronghold sped northward up the central Salah ad-Din Road, heading to Gaza City. They met little resistance from the western-backed forces of the Palestinian Authority. “They looked left and right, no one was there, so they just kept going” towards
In March Isaac Levido, the Conservative party’s campaign supremo, issued a warning about the dangers of a lack of discipline to Tory MPs gathered for a pep talk at a five-star country hotel near Windsor. With a general election coming into view, the Australian strategist told the MPs to look around the room. “Isaac said,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Iron ore prices have defied investors’ expectations and climbed by almost two-fifths since May, driven by a surge in Chinese steel production in spite of the near collapse of the country’s real estate sector. Prices
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UBS has been hit with $400mn of real estate costs tied to its takeover of Credit Suisse, including breaking leases on offices occupied by its defunct rival. UBS has begun transferring thousands of Credit Suisse
Seoul, South Korea ranked in the top three of the fastest growing destination for digital nomads. Prasit Photo | Moment | Getty Images Company: Samsung C&T (028260.KS) Business: Samsung C&T Corp is a Korea-based company engaged in the trading of industrial goods. The company operates its business through a group of segments. These include engineering
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is chief executive of Ark, an academy trust that operates comprehensive state schools across England Over the past year, thanks to the state of public finances, the government has only been able to
Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. China’s consumer prices fell 0.5 per cent year on year in November, the sharpest decline in three years as the world’s second-largest economy grapples with worsening deflation. Consumer prices dropped by more than the 0.2
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. EU lawmakers have agreed the terms for landmark legislation to regulate artificial intelligence, pushing ahead with enacting the world’s most restrictive regime on the development of the technology. Thierry Breton, EU commissioner, confirmed in a
Ohio for the first time can boast of a trifecta of triple-A ratings after S&P Global Ratings on Friday gave top marks to the state’s issuer and general obligation ratings. “The upgrades reflect our view of Ohio’s demonstrated commitment to active budget management and building and maintaining reserves through economic cycles,” said S&P analyst Rob
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US vetoed a UN security council resolution demanding an immediate humanitarian ceasefire in the war between Israel and Hamas. The vote on the draft resolution put forward by the United Arab Emirates underscored the
Municipals were steady Friday, ignoring weakness in the U.S. Treasury market after the jobs report came in hotter-than-expected. Equities ended up. The November payroll report “was stronger than Wall Street was expecting, and we are already seeing significant upward pressure on Treasury yields,” said Scott Anderson, chief U.S. economist and managing director at BMO Economics.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Simultaneous disruption in the Panama and Suez canals, two vital corridors for global trade, is threatening global supply chains in the run-up to Christmas. Shipowners and importers have warned that a drought in the Panama
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. If you ever see me, in any forum, recommending that people should buy crypto, then one of two things has happened. Either someone has created a deep fake of me, or I have been kidnapped.
Stay informed with free updates Simply sign up to the Central banks myFT Digest — delivered directly to your inbox. The writer, an FT contributing editor, is chief executive of the Royal Society of Arts and former chief economist at the Bank of England Like many parents, I used to try disciplining badly-behaved children in the
Ukraine’s president Volodymyr Zelenskyy was blunt when he addressed G7 leaders this week. “Russia hopes only for one thing: that next year the free world’s consolidation will collapse. Russia believes that America and Europe will show weakness, and will not maintain support for Ukraine,” he said in a video call on Wednesday evening with his
Moody’s Investors Service raised its outlook on U.S. nonprofit higher education sector to stable from negative on Thursday, citing expected narrowing gaps between expense and revenue growth. Also on Thursday, S&P Global Ratings affirmed its “bifurcated” outlook for the sector, which includes a negative outlook for less selective, more regional institutions without financial flexibility and
Alan Appelbaum, former managing director and head of Aegis Capital Corp.’s municipal bond desk, has agreed to settle Securities and Exchange Commission charges that he disregarded his obligations as a broker-dealer and violated antifraud provisions in his recommendation of certain variable interest rate structured products to seven investors. Without admitting or denying the findings, Applebaum,
California Gov. Gavin Newsom will need to close a $68 billion shortfall as he wraps up work on the proposed budget for fiscal 2024 that he will present to lawmakers in January. The upshot is that the flooding and massive storms that hit California in early 2023 and pushed income tax filings in the state
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Palestinian Authority is working with US officials on a plan to run Gaza once the war between Israel and Hamas is over, the Palestinian Prime Minister Mohammad Shtayyeh has said. Shtayyeh said he did
Texas and its public schools could face future budget pressures in the wake of last month’s passage of a constitutional amendment to decrease school property taxes, Fitch Ratings said Thursday. Proposition 4 was among 12 other constitutional amendments Texas voters approved Nov. 7 with many of the measures tapping surplus state money for tax relief