Author: Arabian Media staff

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Deutsche Bank’s retail unit has pledged to deliver an extra €50mn in cost savings from IT next year, after telling investors last month it would fall short of a long-standing target for 2025 because of further delays to the integration of its Postbank subsidiary.Claudio de Sanctis, the head of Deutsche’s private bank, told the Financial Times that the German lender was stepping up efforts to streamline its IT and planned to eliminate more software systems and IT infrastructure than intended. The plans,…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Union Investment, one of Germany’s largest asset managers, has divested all of its holdings in US oil major ExxonMobil, accusing the company of “insufficient commitment” to climate targets.Henrik Pontzen, Union Investment’s head of sustainability, said the €500bn asset manager had sold its holdings in ExxonMobil and smaller US peer EOG Resources following a review of the most carbon-intensive investments in its portfolio.Union’s move highlights a divergence between fund managers in Europe and US asset managers, as a number of the latter reassess…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The NHS in England risks being locked in “a cycle of crises” in which it can only meet immediate needs unless Rachel Reeves lifts average day-to-day funding by at least 2.5 per cent a year in the spending review, a think-tank has warned. The estimate by the Health Foundation comes after health service leaders told the Financial Times they were braced for the chancellor to increase real-terms, day-to-day spending by only about 2 per cent — a less generous uplift than in…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The consortium behind a planned $23bn ports deal has held talks with China’s antitrust regulator, as it seeks to navigate tensions between Washington and Beijing over the Panama Canal.Representatives of the Swiss-Italian shipping company MSC and US asset manager BlackRock held in-person discussions with the State Administration for Market Regulation (SAMR) in recent weeks, according to people briefed on the matter.The meeting occurred ahead of a required formal submission by the consortium for official review of a deal made with Hong Kong’s…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Activist investor Farallon Capital Management has taken a top-three position in one of Japan’s largest insurance groups and is pushing for rapid changes in investment and governance, as it aims to tap opportunities on the “final frontier” of the sector.The San Francisco-based firm has built a stake of between 4 and 5 per cent in T&D Holdings and is pushing for it to reduce investment risk at a faster pace, concentrate on its core insurance business and address its conglomerate discount, according…

This article is an on-site version of our FirstFT newsletter. Subscribers can sign up to our Asia, Europe/Africa or Americas edition to get the newsletter delivered every weekday morning. Explore all of our newsletters hereWe apologise for delaying today’s FirstFT to bring you breaking news on Poland’s presidential election. Today’s agenda: Polish polls; Ukraine strikes Russian airfields; Colorado attack; and Ruchir Sharma on the Swiss francGood morning. This just in: a nationalist candidate backed by Donald Trump has won Poland’s presidential run-off vote — we have more on this below. But first, we start with a look at private equity…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Northern Irish designer Jonathan Anderson has been named creative director of women’s, men’s and haute couture collections of Dior, replacing Maria Grazia Chiuri who held the role for almost a decade. The expanded role for Anderson, who was made menswear designer in April, cements his status as a star of the business after his decade-long rise at Dior’s parent company LVMH. Bernard Arnault, chair and chief executive of LVMH, described Anderson — son of former Irish rugby captain Willie Anderson — as…

Stay informed with free updatesSimply sign up to the Global Economy myFT Digest — delivered directly to your inbox.The writer is a professor at Columbia University and a Nobel laureate in economicsThe late Pope Francis was right to raise the alarm on the debt and development crisis facing developing countries. And he was right to link the issue of debt to broader questions of global justice, human dignity and intergenerational responsibility. Some have claimed that the debt problem in the developing world is dissipating, but in fact the situation in many low- and lower-middle-income countries (LLMICs) has become deeper and…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldDonald Trump’s trade war has slammed the brakes on a global dealmaking recovery for the private equity industry, with a new forecast indicating that a long-awaited rise in dealmaking has reversed since the US president’s “liberation day” tariff announcements. The value of deals for buyout funds to purchase companies in the second quarter is on course to fall by 16 per cent from the first three months of 2025, according to projections from consultancy Bain & Company. The figure for…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The writer is president of Queens’ College, Cambridge, and an adviser to Allianz and GramercyIt was not supposed to be this way. By now, the Federal Reserve should have been able to declare “mission accomplished”, closing the chapter on a period when US inflation ran higher and longer than it should have. In doing so, it could also have pointed to its success in avoiding the economic “pain” it warned about in August 2022 in tackling rising prices.Instead, the Fed will have…