Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. At Rome’s National Gallery of Modern and Contemporary Art, rooms recently devoted to an exhibition of Picasso drawings now hold more curious relics: a 19th-century travel trunk emblazoned “M. Tolkien”; dictionaries of old English dialects;
Just days before negotiators from more than 60 countries descended on Abu Dhabi last month for the final round of climate talks ahead of the UN’s COP28 summit, Sultan al-Jaber, president-designate of the conference, travelled more than 1,000 miles north to Azerbaijan. Jaber, who juggles at least eight different jobs including chief executive of the
Barclays is exploring a plan to drop thousands of clients at its investment bank as part of a strategic overhaul that is meant to boost profits and cut £1bn of costs. Barclays executives have met several times this year to thrash out the restructuring, codenamed Minerva after the Roman goddess of wisdom, according to people
Bitcoin mining is a “critical tool” for clean energy and balancing the grid, according to a new working paper penned by Bitcoin advocates and the former president of ERCOT, the operator of Texas’ electrical grid. The Nov. 22 paper titled “Leveraging Bitcoin Miners as Flexible Load Resources for Power System Stability and Efficiency” argued that
A cameraman takes video footage of a stock index board showing South Korea’s benchmark stock index (L) after a ceremony celebrating the New Year’s opening of the South Korea stock market at the Korea Exchange in Seoul on January 2, 2023. (Photo by Jung Yeon-je / AFP) (Photo by JUNG YEON-JE/AFP via Getty Images) Jung
A Bloomberg spokesperson said the discontinuation of BSBY, which lagged in the race to succeed the defunct Libor rate, was the result of the “limited” commercial opportunities.Adobe Stock Bloomberg L.P. says it’s shutting down its BSBY interest rate benchmark, marking a quiet end to the data provider’s attempt to offer a successor to the defunct
A swath of unfinished apartment blocks across China, indebted buyers uncertain if they will ever move into their new homes and anger at the loss of their deposits — the impact of China’s property crisis has been immense. The 2021 default of Evergrande, the world’s most indebted developer, and dozens of its peers ushered in
Ether (ETH) is struggling to maintain the $2,000 support as of Nov. 27, following its third unsuccessful attempt in 15 days to surpass the $2,100 mark. This downturn in Ether’s performance comes as the broader cryptocurrency market sentiment deteriorates, thus one needs to analyze whether It’s possible that recent developments, such as the U.S. Department
Chinese fast-fashion group Shein has filed confidential paperwork for its initial public offering with the US securities regulator, according to two people briefed on the matter, in what is likely to be one of the largest New York listings of the past decade. The IPO decision comes a year after Shein raised cash at a
Bitcoin (BTC) briefly reached $38,000 on Nov. 24 but faced formidable resistance at the price level. On Nov. 27, Bitcoin price traded below $37,000, which is unchanged from a week ago. What is eye-catching is the unwavering strength of BTC derivatives, which signals that bulls remain steadfast in their intentions. An intriguing development is unfolding
New York’s Metropolitan Transportation Authority faces potential budget gaps that could widen to nearly $900 million in 2026, according to the Citizens Budget Commission. The nonprofit think tank that analyzes state and city finances warns in a report released Monday that the MTA’s promised cost-saving measures may fall short and revenue from yet-to-be-built casinos could
The Nasdaq MarketSite is seen on October 12, 2022 in New York City. The Nasdaq Composite Index yesterday hit its lowest level since July, slipping into a bear market for the second time this year. (Photo by Michael M. Santiago/Getty Images) Michael M. Santiago | Getty Images The rapid growth in short-dated options that have
Municipals were firmer Monday as investors prepare for a larger, $7 billion new-issue calendar while U.S. Treasuries made gains and equities were mixed near the close. Triple-A yield curves were bumped one to four basis points, depending on the curve, while UST yields fell by six to eight basis points. Munis continued to rally last
A federal judge signed off on the sale of an Arizona participant sports venue for a price that will result in a miniscule cash payment to owners of the bankrupt facility’s defaulted bonds. U.S. Bankruptcy Court Judge Daniel Collins last week approved the deal agreed to by the bond trustee and other parties for $25.7
A new Biden administration rule requiring states to reduce transportation-related carbon emissions, which could affect infrastructure spending, faces opposition from states and Congressional Republicans. The rule, finalized last Wednesday, requires state departments of transportation and metropolitan planning organizations to measure greenhouse gas emissions from vehicles and implement targets to reduce the emissions. It’s part of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Executives at Volkswagen are warning of job cuts, as negotiations with the group’s powerful works council heat up while the German carmaker prepares the ground for a €10bn cost-cutting programme. At a meeting with union
Bitcoin (BTC) exchange-traded products (ETPs) registered $312 million in inflows for the week of Nov. 24, bringing year-to-date inflows to around $1.5 billion, according to CoinShares. The weekly inflows for all cryptocurrencies totaled $346 million, continuing a nine-week trend of positive net flows. New record of inflows with US$346m this week, the highest total observed in
The Arizona Industrial Development Authority as conduit issuer is set to offer a $230 million social bond next week to support a variety of high-performing public charter schools across the United States. Siebert Williams Shank as senior manager is slated to price the Series 2023A senior National Charter School revolving loan fund social revenue bonds
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Christine Lagarde has said the European Central Bank is likely to discuss speeding up the shrinkage of its balance sheet by ending the last of its bond purchases earlier than planned. The ECB president’s comments
Bitcoin (BTC) has started the week on a negative note. The failure of the bulls to pierce and sustain above the $38,000 resistance has given a small window of opportunity for the bears to try and make a comeback. Strong selling has pulled the price below $37,000 on Nov. 27. However, lower levels are likely
Morgan Housel, author of “The Psychology of Money” and partner at the Collaborative Fund, says no one is crazy when it comes to money. But we all need to update our thinking in key ways in order to build true wealth. Morgan Housel (Note: Morgan Housel will be on HalfTime Report today at 12:35 PM