Author: Arabian Media staff
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldDonald Trump’s commerce secretary Howard Lutnick will sell stakes in two publicly listed companies for $361mn to comply with government ethics rules.The Wall Street investor and Trump campaign mega donor will sell his shares in BGC and Newmark for $234mn and $127mn, respectively, the companies said on Monday.Separately, Lutnick also transferred his ownership in Cantor Fitzgerald into trusts for the benefit of his children, to be controlled by his son Brandon Lutnick.Wall Street executives who join government ranks are often…
Image: Supplied NABNI Developments has officially opened sales for the Waldorf Astoria Residences Dubai Business Bay, marking the iconic hospitality brand’s first standalone residential project outside the United States.Unveiled on 19 May 2025, the launch follows a landmark partnership signed in 2024 between NABNI and Hilton. The ultra-luxury development will feature 146 units across 65 storeys and is set to become the second tallest residential tower in the Business Bay and Downtown Dubai district once completed in Q4 2029. “This translates perfectly to the residential market and, more specifically, to Dubai’s incredibly competitive premium real estate landscape,” said Abdulrahman Abdulla…
Have a look at the default rate of sovereign issuers. Going back to 1983, precisely zero countries with a triple-A rating defaulted within 10 years of getting that gold-standard approval. Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.In a fallow year for mergers and initial public offerings, it is fitting that the largest US transaction of the year should be a combination of both. On Friday, the John Malone-backed Charter Communications announced that it would acquire smaller pay TV and broadband rival Cox Communications for $34.5bn including net debt. Cox is privately held by a family of the same name, with an empire that also includes local television networks and automotive trade publications. Of the $22bn equity purchase, only…
This article is an on-site version of our Swamp Notes newsletter. Premium subscribers can sign up here to get the newsletter delivered every Monday and Friday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersYou are in for a treat today, Swampians, because my respondent is the brilliant Princeton historian Harold James. I spoke to him for my column this week and wanted to expand upon some of the themes we touched on in today’s note.James is a scholar of globalisation and de-globalisation and believes, as I do, that we are at an important pivot point right…
Regeneron said it will continue uninterrupted service of 23andMe’s consumer genome services — such as connecting with living relatives with shared DNA — after its purchase closes as expected in the third quarter of this year. Source link
Stay informed with free updatesSimply sign up to the UK financial regulation myFT Digest — delivered directly to your inbox.The Bank of England is exploring ways to relax ringfencing rules that force UK lenders to separate their retail operations from other activities, as it aims to head off calls to scrap the regime entirely.Sam Woods, head of the BoE’s Prudential Regulation Authority, has told staff supervising the banking sector to draw up options for diluting the ringfencing rules without losing the core protection they provide for retail deposits, according to people briefed on the work.Regulators are examining two main areas…
Kotok in his latest email to clients walks through an estimate of just how much tariffs will take a bite out of corporate earnings. Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Klarna’s net loss more than doubled in the first quarter as more consumers failed to repay loans from the Swedish “buy now, pay later” lender as concerns rose about the financial health of US consumers.The fintech, which offers interest-free consumer loans to allow customers to make retail purchases, on Monday reported a net loss of $99mn for the three months to March, up from $47mn a year earlier. The company, which makes money by charging fees to merchants and to consumers who…
The EU and the UK have announced a deal to “reset” their relationship at a summit in London between UK Prime Minister Sir Keir Starmer and EU Commission president Ursula von der Leyen. Here are the key points:Defence and security pact Six-monthly foreign and security “policy dialogues” between the UK foreign secretary and the EU’s high representative for foreign affairs, alongside regular invitations for the UK to join high-level meetings of the EU, including European Councils.An annual EU-UK dialogue on defence, and potential for the UK to participate in crisis management exercises under the EU’s Common Security and Defence Policy.Deeper…