Author: Arabian Media staff
As its oldest members enter their mid-20s, Gen Z is coming into its own as an economic force. The generation’s spending power is likely to reach $12 trillion by 2030, and with Gen Z making up a quarter of the global population, their spending habits will shape markets for decades to come. Key Takeaways Gen Z spending is growing faster than previous generations and will reach $12 trillion by 2030. As a global, digitally native generation, Gen Z is interested in the environment, authenticity, and quality in its shopping habits. Still, Gen Z tends to spend heavily in person and…
This is why the stock is on pace to reach a new all-time closing high and reclaim its spot as the largest company by market capitalization. Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Asda plunged to a near £600mn loss last year as weak trading, a costly IT upgrade and asset writedowns combined to push the troubled supermarket chain deep into the red. The private equity owned retailer reported a pre-tax loss of £599mn, compared with a profit of £180mn the year before, according to accounts filed Wednesday at Companies House. Total revenues rose by 5 per cent to £26.8bn in the year to December 31. However, Asda’s like-for-like food sales declined by 3.7 per…
Stay informed with free updatesSimply sign up to the US financial regulation myFT Digest — delivered directly to your inbox.The Federal Reserve has kicked off one of the largest reductions of US bank capital requirements since the 2008 financial crisis by proposing to allow higher leverage at the biggest American banks.The US central bank said on Wednesday it planned to slash the enhanced supplementary leverage ratio for the biggest banks. The rule requires them to have a preset amount of high-quality capital against their total leverage, which includes assets such as loans and off-balance sheet exposures such as derivatives. It was…
U.S. regulators took their first concrete steps on Wednesday toward deregulating banks in a way that is seen as likely to have big implications for the Treasury market, investors and the broader financial market. Source link
Federal Reserve Chair Jerome Powell made clear this week that he’s not ready to give in to demands by President Donald Trump to immediately cut U.S. interest rates. So what would convince him? Source link
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldPanicked Wall Street financiers are racing to rally behind an “anyone-but-Mamdani” candidate for New York City mayor after 33-year-old democratic socialist Zohran Mamdani unexpectedly clinched the Democratic nomination on Tuesday. Within hours of the primary result, hedge fund investors, private equity titans, corporate lawyers and investment bankers called and texted each other to find the best way to back a centrist challenger ahead of the November vote, according to people involved in the discussions.The financiers are gaming whether Andrew Cuomo, the…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Sir Keir Starmer will on Thursday launch a new trade strategy focused on boosting UK services exports, while strengthening anti-dumping defences to protect Britain from the fallout from Donald Trump’s global tariff war.Trade minister Douglas Alexander said Starmer would set out a policy based on hard-headed “pragmatic patriotism”, embracing free trade and seeking to build markets across the world, including China and the Gulf.“Our strategic response to this new world can’t be based on nostalgia or post imperial delusion, let alone any…
Life insurance living benefits can offer much-needed funds if you’re diagnosed with a terminal or critical illness. But you might face delays or denials if the insurer disputes your diagnosis, life expectancy, or paperwork. Knowing how the claims process works can help you avoid these issues and get the benefits you’re owed. Key Takeaways Some life insurance policies include living benefits, which let you access money if you’re diagnosed with a terminal or critical illness. These benefits depend on strict rules about your diagnosis and life expectancy, which can lead to delays or denials. If your claim is denied, you…
Stay informed with free updatesSimply sign up to the Oil & Gas industry myFT Digest — delivered directly to your inbox.Shell has denied it is in talks to acquire rival BP after months of speculation about a deal that would combine the UK’s two biggest oil companies. “No talks are taking place,” said a Shell spokesperson, who added that the company has repeatedly said it is focused on its own performance, rather than growing through a major acquisition. Shell’s chief executive, Wael Sawan, told the FT in May that he preferred to buy back Shell’s own shares than to use…