Author: Arabian Media staff

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Red Bull has sacked Christian Horner, replacing him at the helm of one of the most successful racing teams in Formula 1 and ending a 20-year reign that brought championships but also controversy.Horner, who was the longest-serving team boss on the grid, has been replaced by French engineer Laurent Mekies as chief executive of Red Bull Racing, the team said in a statement on Wednesday.The 51-year-old, who became team principal in 2005, was at the centre of controversy last year when a…

The sweeping and controversial One Big Beautiful Bill Act (OBBBA) fulfills many of Donald J. Trump’s 2024 campaign promises: it makes his first-term tax cuts permanent, includes a handful of family-friendly tax breaks, and introduces relief for tipped and overtime pay. At the same time, critics warn it will increase the national debt by several trillion dollars, give most benefits to higher-income earners, and pay for the bill, in part, by rolling back popular green-energy incentives and cutting Medicaid and SNAP eligibility. While many households may see a lower tax bill through at least 2035, the Congressional Budget Office projects that…

“Caregiving is no longer a personal issue. It’s a national crisis.” Source link

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Nvidia has become the first company to hit a $4tn market capitalisation, on the back of a rapid rebound for Wall Street technology stocks in recent months. Shares in the Silicon Valley-based maker of artificial intelligence chips rose as much as 2.8 per cent on Wednesday to $164.36. The group had already surpassed Apple’s $3.92tn record from last December.Nvidia stock has risen by more than 40 per cent since early May, when US President Donald Trump first signalled a thaw in his…

The sustaining growth of the company’s AI revenue and cloud platform Azure are not fully priced into the stock, Oppenheimer analysts said. Source link

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The Bank of England has imposed an £11.9mn fine on Vocalink, an offshoot of Mastercard that operates a key part of UK payments infrastructure, over its “ineffective risk management framework” and weaknesses in internal controls and governance.The BoE said on Wednesday that the fine reflected Vocalink’s failure to comply with the central bank’s requirement for it to fix a number of weaknesses in its systems and controls identified by supervisors by February 2022.The penalty is a stinging rebuke for Vocalink, which operates…

The growing use of stablecoins could increase the cost of lending for banks if they have fewer deposits to draw from, Moody’s says. Source link

Stay informed with free updatesSimply sign up to the Financial & markets regulation myFT Digest — delivered directly to your inbox.Hedge funds and other non-bank groups could face limits on the amount of leverage they can use and may have to provide more disclosure to regulators about their borrowing, under plans put forward by the world’s financial stability watchdog.The Financial Stability Board (FSB) said on Wednesday that its recommended measures — which follow a consultation announced late last year — were designed to tackle the build-up of leverage in non-banks, which “can be an important amplifier of stress. If not…

Image credit: Suppled photo EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa, announced it has acted as the Sole M&A Financial Advisor on a landmark $190m minority stake investment in Alameda Healthcare, one of Egypt’s top private healthcare providers. Read- EFG Holding posts resilient Q1 ’25 results despite FX impact The investment was led by Development Partners International (DPI) in partnership with a consortium of institutional investors and development finance institutions. Following the transaction, Dr Fahad Khater, Chairman of Alameda, will remain the majority shareholder. The deal, primarily structured as…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldInvestors have shrugged off US President Donald Trump’s threat to impose a 200 per cent tariff on pharmaceuticals, betting that the levy is unlikely to be implemented. Shares in most big European drugmakers started Wednesday down but have since crept up, and many are flat or slightly up. Shares in US-traded pharmaceutical companies on the S&P 500 ended Tuesday up 0.7 per cent. India’s huge drugmaking industry, which supplies the US with about 40 per cent of generic drugs, also largely glossed…