Stay informed with free updates Simply sign up to the Climate change myFT Digest — delivered directly to your inbox. The United Arab Emirates is preparing to launch a $30bn climate-related investment fund with BlackRock, TPG and Brookfield, according to people familiar with the matter. The launch comes as the UAE attempts to bolster its
Pudgy Penguins minted in July 2021, but quickly saw high drama after its former founder came under suspicion he was going to rug the project. A few months later Luca Schnetzler stepped in. With an entrepreneurial streak since his early teens he had a history of building internet businesses and bought the project and its
The American dream, a term first used by a Depression-era historian named James Truslow Adams, is all about upward mobility. Any US citizen, if they work hard, should be able to not only succeed, but rise above the station of their parents. In The Epic of America, published in 1931, Adams acknowledged that the ongoing
Federal Reserve officials are preparing to leave their historic interest-rate raising campaign on hold next month for the third meeting in a row — but that does not mean they are ready to discuss cuts. Since July the federal funds rate has held steady at a 22-year high of 5.25 per cent to 5.5 per
Stay informed with free updates Simply sign up to the Capital markets myFT Digest — delivered directly to your inbox. Investors are piling into risky assets in the growing belief that the Federal Reserve and other major central banks are close to winning their battle with inflation, fuelling the biggest rally in global stocks since
The cryptocurrency mining platform AntPool released an update on Nov. 30, saying it will refund the transaction fee of 83 Bitcoin (BTC). It said its risk control system temporarily froze the fee when packaging the transaction, and therefore after the affected user verifies their identity, it will refund the fee. The affected user has until
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Alistair Darling, who was Labour chancellor of the exchequer during the financial crisis, has died at the age of 70. A spokesperson for the Darling family announced the death of the veteran Labour politician at
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Saudi Arabia has won provisional backing for further oil production cuts by the Opec+ group, boosting oil prices to the highest in three weeks ahead of a crucial meeting of the cartel. The meeting, which
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Ever since the first recorded battle in the 15th century BC at Megiddo, where Pharaoh Thutmose III’s forces crushed the rebellious Canaanites (and gave rise to the term Armageddon), our species has been steadily,
ARK Invest, a cryptocurrency investment firm founded by Bitcoin (BTC) advocate Cathie Wood, bought about $1.5 million of SoFi Technologies (SOFI) shares on Nov. 29, the day the latter announced its exit from crypto. On Nov. 29, ARK bought 200,275 SOFI shares to allocate to its ARK Fintech Innovation ETF (ARKF), according to a trade
The suggestion that Hong Kong could make an “Initial Coin Offering” (ICO) appeared in a list of propositions formulated by the Hong Kong Securities and Futures Association to revitalize Hong Kong’s economy. The document, signed by association president Chen Zhihua, was published on Nov. 29 and included various measures, ranging from routine to bold. The
Bitcoin (BTC) may hit $100,000 in one year’s time thanks to “earlier than expected” exchange-traded funds (ETF) launching, says Standard Chartered. In a research note issued on Nov. 28 quoted by sources including Business Insider, the banking giant doubled down on its bullish BTC price targets. Standard Chartered still expects six-figure BTC price Bitcoin is
Cryptocurrency payment platform Alchemy Pay is scaling its payment options by integrating new on-ramps — new ways to buy crypto — in Europe and the United Kingdom. Alchemy Pay has introduced new deposit options, including the euro instant solution, Single Euro Payments Area (SEPA) Instant, and the U.K. fast money transfer option, Faster Payments. Announcing
Stay informed with free updates Simply sign up to the Climate change myFT Digest — delivered directly to your inbox. This year has “shattered” climate records and is set to be the hottest since measurements began, with greenhouse gas and sea levels reaching all-time highs and Antarctic sea ice at record lows, a pattern set
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Inflation in the eurozone has fallen far more than expected to 2.4 per cent in November, the slowest annual pace since July 2021, providing some relief to consumers and fuelling hopes that interest rates could
The number of crypto hodlers in Canada dropped slightly in 2023, but the average value of their holdings rose significantly. However, 77% of respondents regret investing in crypto assets, according to a survey published by the Ontario Securities Commission (OSC). The OSC published a “Crypto Assets Survey 2023,” on Nov. 29, conducted in partnership with Ipsos
Binance’s $4.3 billion settlement with the United States Department of Justice (DOJ) is being hailed as a positive move for the company and the wider cryptocurrency industry, according to Galaxy Digital’s Mike Novogratz. In an interview with Bloomberg on Nov. 29, the CEO of the cryptocurrency investment firm expressed his belief that the high-profile settlement should assuage
What is the replace-by-fee (RBF) policy? The Bitcoin network’s replace-by-fee (RBF) policy enables users to replace pending (unconfirmed) transactions with new ones with higher transaction costs. The RBF policy was proposed in BIP 125 and introduced as a feature in the Bitcoin protocol with the release of Bitcoin Core version 0.12.0, which was released in
In late 2020, Huawei was fighting for its survival as a mobile phone maker. A few months earlier, the Trump administration had hit the Chinese company with crippling sanctions, cutting it off from global semiconductor supply chains. The sanctions prevented anyone without a permit from making the chips Huawei designed, and the company was struggling
For months, the Ford dealership in the North Hills neighbourhood of Los Angeles sold the electric Mustang Mach-E at a mark-up, citing huge demand. Today, more than 100 of the battery models sit on its lot, waiting for buyers. Down the road, the rival Kia dealership is offering money off its new battery vehicles, while
For years, as Berkshire Hathaway climbed towards its $780bn valuation, investors wondered what would happen when Warren Buffett or Charlie Munger, the nonagenarians who personified the sprawling conglomerate, died. They got their answer on Wednesday: almost nothing. The market response to Munger’s death was the kind of reaction that the two men, who spent more