The US economy’s lead over that of Europe, a trend first evident in the aftermath of the global financial crisis and cemented during the coronavirus pandemic, is set to last into 2024 and beyond. The IMF last week became the latest economics organisation to declare that the US economy would power ahead, forecasting an expansion
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Fresh evidence of sticky inflation in the UK is likely to harden the Bank of England’s determination to keep monetary policy tighter for longer, as it seeks to squeeze persistent price pressures out of the
Stay informed with free updates Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox. Premature regulation of artificial intelligence will only serve to reinforce the dominance of the big technology companies and stifle competition, Yann LeCun, Meta’s chief AI scientist, has said. “Regulating research and development in AI is
Ghassan Abu Sitta, a British-Palestinian surgeon treating injured survivors of bombings in Gaza, received an alarming call from London this week that counter-terrorism officers had visited his home. Abu Sitta, who volunteers with Doctors without Borders and is still in the besieged enclave, told the BBC the visit was a “kind of brutish attempt at
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Traders have been increasing their bets against the Israeli shekel, increasing the pressure on the Bank of Israel to keep interest rates on hold and stabilise the currency, despite the cost of a war looming
English prisons are not only bursting at the seams after years of under-investment, some are also dangerously understaffed with prisoners living in “inhumane” conditions, the chief inspector of prisons told the Financial Times. Charlie Taylor’s roving role inspecting the 123 jails in England and Wales has revealed a system that is failing to keep criminals
Sui’s native SUI token has struggled to regain ground after plunging more than 9% amid allegations from South Korean regulators, which have accused the Sui Foundation of manipulating the supply of the token for its own gain. SUI token gained a little under 1% in the last 24 hours after falling from $0.41 on Oct.
Electric vehicle maker Tesla made no changes to its sizeable Bitcoin (BTC) holdings — the fifth quarter in a row — though it has directed more funds to double its computing capacity amid artificial intelligence efforts. Tesla’s Q3 2023 results released on Oct. 18 show as of Sept. 30, it held $184 million worth of
Bitcoin layer-2 infrastructure firm Lightning Labs has released the mainnet alpha of Taproot Assets, a protocol aimed at enabling stablecoins and real-world assets to be issued on the Bitcoin and Lightning Network. The current version, Taproot Assets v0.3, will provide a “feature-complete developer experience” to issue, manage and explore stablecoins and other assets on the Bitcoin
The US deported its first group of Venezuelan migrants on Wednesday, following a breakthrough after years of refusal from the government in Caracas. The deportation came amid a wider crackdown on migrants and a thaw of frosty relations with the South American country. A Boeing 737 jet took off from Harlingen, Texas, for Caracas via
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak will arrive in Israel on Thursday for talks with prime minister Benjamin Netanyahu and other leaders in the region, urging them to avoid “a further dangerous escalation” of the conflict. The UK prime
A recent panel at the Swan Pacific Bitcoin festival was cleverly titled, “Are halving price cycles bullshit?” Throughout the discussion, host and founder of the Bitcoin Layer Nik Bhatia asked Marathon Digital CEO Fred Thiel, Swan CIO Ralph Zagury and Swan product manager Andy Edstrom to share their thoughts on whether the Bitcoin halving is
Partners in the development of a pair of nuclear reactors in Georgia have settled a legal dispute that threatened the project’s underlying financing structure. Investor-owned Georgia Power and cooperative Oglethorpe Power, primary partners on the construction of two new nuclear reactors at Georgia Power’s Plant Vogtle in Waynesboro, recently agreed to new terms regarding cost-sharing
Municipals faced more pressure Wednesday and two billion-dollar-plus deals for Connecticut and the New York City Transitional Finance Authority saw yields rise up to 12 to 13 basis points from Tuesday’s retail pricings while the third consecutive week of $2 billion plus outflows were reported. U.S. Treasuries saw more losses and equities sold off. Triple-A
Ethereum decentralized finance (DeFi) protocol Hope Lend has next to zero assets left in its protocol after a devastating hack. According to multiple blockchain security firms, on Oct. 18, two individuals, a frontrunner who beat the original hacker after discovering the exploit, and the original hacker itself, stole a combined 526 Ether (ETH) from Hope
Stay informed with free updates Simply sign up to the Private equity myFT Digest — delivered directly to your inbox. CVC is preparing to announce its intention to float in Amsterdam as soon as next week in a mood-defying move by Europe’s largest private equity group. The firm, which has €161bn under management, was valued
Within hours of a deadly explosion at a Gaza hospital on Tuesday, Palestinian president Mahmoud Abbas abruptly cancelled a meeting with Joe Biden in Jordan to rush home and accuse Israeli forces of being behind the carnage. But when Palestinians rallied in the occupied West Bank that evening to voice their anger at the killings
A mountain chalet built in 1942 for an early backer of one of California’s oldest ski resorts has come on the market for the first time. The three-story family home at Sugar Bowl Ski Resort near Lake Tahoe played a pivotal role in gathering early ski enthusiasts who were committed to bringing skiing to the
Federal Reserve Governor Christopher Waller said the U.S. central bank can wait and gather more data before deciding if the economy needs further monetary restraint, signaling that he favors holding interest rates steady when officials meet in two weeks. “I believe we can wait, watch and see how the economy evolves before making definitive moves
The Oklahoma Turnpike Authority took on a tough market Tuesday when it sold $500 million of bonds in its inaugural issuance of debt for a controversial expansion program, but the issuer said the deal was met with good demand. Underwriters led by RBC Capital Markets, priced 5% coupon second senior revenue bonds, serials 2035-2043, with
Bitcoin (BTC) price continues to show strength this week by hitting an intra-day high at $28,516 even as macroeconomic headwinds in the United States continue to weigh on investor sentiment. It’s possible that a certain degree of BTC’s price stability can be attributed to increasing institutional activity and positive institutional investor interest in Bitcoin. On