Author: Arabian Media staff
If you are over the age of 40, there is a good chance you remember where you were on September 15 2008, the day Lehman Brothers went bust. It was one of the first of many shocking moments during the last global financial crisis, a searing time of bank runs, crashes and bankruptcies when big economies tumbled into some of their deepest recessions since the Great Depression. Stunned Lehman staff, who left the 158-year-old investment bank’s offices carrying their belongings in cardboard boxes, came to symbolise the millions who lost their jobs, homes and life savings in a disaster that destroyed…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.As more companies order their workers back to the office, queues at coffee shops in London are definitely getting longer. With most of the capital’s chains charging around £4 a cup, it’s also an expensive habit. So when my caffeine-loving FT colleague Katie Martin challenged me to investigate how much time and money could be saved using coffee apps, I gleefully accepted. As a skinflint who’s happy to drink the free coffee in the FT canteen, I confess this new wave of…
Stay informed with free updatesSimply sign up to the Fund management myFT Digest — delivered directly to your inbox.Investors are fleeing long-term US bond funds at the swiftest rate since the height of the Covid-19 pandemic five years ago as America’s soaring debt load tarnishes the appeal of one of the world’s most important markets. Net outflows from long-dated US bond funds spanning government and corporate debt have hit nearly $11bn so far in the second quarter, according to Financial Times calculations based on EPFR data. The second-quarter exodus is on track to be the heaviest since severe market turbulence…
Spy balloons over the American Midwest, warnings from Beijing of a clash if Washington “doesn’t hit the brakes” and intense congressional scrutiny of investment in China — there could hardly be a less auspicious time for US business to attend Beijing’s flagship investment conference.But this weekend, former secretary of state Henry Kissinger, investor Ray Dalio and American business chiefs including Jon Moeller of Procter & Gamble will head to Beijing for what has been billed as an opening-up party after three years of a strict zero-Covid policy.Many of the business figures attending the China Development Forum will be seeing their…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Amazon MGM Studios has named Denis Villeneuve as the director of the next James Bond film in a sign that the company is moving quickly to revive the franchise just months after it took full creative control from the Broccoli family.Villeneuve is known for his science fiction works, including two Dune films, Arrival and Blade Runner 2049. The French-Canadian director will also serve as an executive producer of the new Bond film alongside filmmaker Tanya Lapointe.“I’m a diehard Bond fan,” Villeneuve said…
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldA mediator has suggested Paramount pay Donald Trump about $20mn to settle the US president’s lawsuit against CBS News as the two sides inch closer to a deal.The potential Paramount settlement would include a $17mn donation to Trump’s presidential library as well as millions of additional dollars in legal fees and public service announcements on its television channels to combat antisemitism, according to two people familiar with the matter.Paramount executives have been concerned about shareholder lawsuits if they were to…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Hong Kong’s de facto central bank has intervened in foreign exchange markets to defend the city’s currency peg.The Hong Kong Monetary Authority said it used HK$9.4bn ($1.2bn) of its reserves to buy Hong Kong dollars on the open market. It acted after the local currency dropped past HK$7.85 per US dollar, the weak end of the band within which it is allowed to trade.The move will drain liquidity out of the banking system and is set to push up interbank lending rates,…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Nearly “one child in every classroom” is now born through IVF in the UK with egg-freezing hitting a record high, the fertility regulator has said, as people increasingly delay parenthood against a backdrop of historically low birth rates.More single patients and female same-sex couples are opting for assisted fertility treatments, the Human Fertilisation and Embryology Authority found, highlighting how the sector “could develop in the years to come”, according to chair Julia Chain.“IVF is helping more people have babies, including patients of…
Stay informed with free updatesSimply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox.Meta’s use of millions of books to train its artificial intelligence models has been judged “fair” by a federal court on Wednesday, in a win for tech companies that use copyrighted materials to develop AI. The case, brought by about a dozen authors, including Ta-Nehisi Coates and Richard Kadrey, challenged how the $1.4tn social media giant used a library of millions of online books, academic articles and comics to train its Llama AI models.Meta’s use of these titles is protected under copyright…
Shares of Steelcase Inc. fell after hours on Wednesday, after the office-furniture maker’s second-quarter outlook disappointed investors, amid weaker demand from its government customers and in Europe that could bring more cuts after a recent round of layoffs. Source link