Author: Arabian Media staff
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Stanley Fischer, a former top policymaker at the US Federal Reserve and the Bank of Israel whose thinking was highly influential among generations of economists, has died at the age of 81.A former vice-chair of the Fed, Fischer also served at the IMF, where as first deputy managing director he worked on the response to the Asian and Russian crises of the late 1990s. He also served as chief economist at the World Bank. Fischer’s death was announced on Sunday by the Bank…
Stay informed with free updatesSimply sign up to the Global Economy myFT Digest — delivered directly to your inbox.When the 26 members of the European Central Bank’s governing council meet on June 5 in Frankfurt, anything but another quarter-point cut in its key deposit rate would be a huge surprise.Financial markets are pricing in a 97.5 per cent probability of such a move, according to LSEG data, which would lower borrowing costs to 2 per cent. This is the lowest in more than two years and half the level in June 2024, when the ECB started to ease monetary conditions.That…
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldZoe has “never voted for Trump, and will never vote for anyone from his inner circle”, she said. But on a blustery Friday afternoon in West Mifflin, Pennsylvania, the 24-year-old student walked through a cavernous US Steel plant to attend a rally headlined by the American president.The trainee physician’s assistant gestured to Anthony, a millwright at US Steel’s Irvin Works facility, as she explained what had brought her there: “I just want job security for my partner and our future…
Stay informed with free updatesSimply sign up to the Electric vehicles myFT Digest — delivered directly to your inbox.China’s BYD is planning an assault on one of the quirkiest parts of Japan’s car market, highlighting its bold global ambitions by challenging the likes of Toyota in its own back yard.The leading electric vehicle maker, whose cars overtook Tesla in European sales last month, plans to release a low-cost battery-powered kei car in Japan next year. The unique class of boxy minicars was worth $18bn in sales there last year and makes up about 40 per cent of the world’s fourth-largest car market.BYD…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Patients will be able to order prescriptions, receive test results and choose hospitals via their phones under a major expansion of the NHS app, part of the long-awaited 10-year plan for the UK’s health service.Ministers hope that by expanding the functions of the app, now used by more than 37mn people, they can change the public’s relationship with the NHS, often accused of being unwieldy and unresponsive, and give them a greater sense of control over their own care.Details of the app’s…
The hacking group that pierced the online defences of UK retailer Marks and Spencer has spent months this year laying digital traps designed to trick employees at the world’s biggest brands into giving up their passwords.Scattered Spider — which cyber security experts describe as a criminal gang of male trash-talking, English-speaking fraudsters — was observed registering websites with nearly identical company names and sharpening their malware tool kits.But their signature move is to exhaustively research company employees, successfully impersonating them on a phone call, and trick other colleagues into handing over the information needed to trigger a cyber attack.The mix…
A UK-wide ban on the sale of single-use e-cigarettes coming into force on Sunday will be inadequate to prevent young people vaping or significantly reduce the dangerous e-waste created by the devices, experts warn.From Sunday it will be illegal for businesses to sell or supply vapes that cannot be refilled with vape liquid or do not have rechargeable batteries.However, popular disposable brands such as Elf Bar, Lost Mary and Geek Bar have all created near-identical reusable versions of their products that will continue to be legal.“These products have the same features that made disposable vapes appealing to youth: low cost,…
Energy-rich Gulf monarchies are vying to become hubs for electricity-guzzling artificial intelligence infrastructure, as they bet on the technology to power everything from economic diversification to government services.Deals unveiled during US President Donald Trump’s visit to the region this month showcased Saudi Arabia and the United Arab Emirates’ aspirations to become AI superpowers. This includes a partnership between chip giant Nvidia and Humain, a newly formed and Saudi state-backed AI group that has ambitious plans to launch a $10bn venture fund and secure investment from US tech companies.Abu Dhabi has announced a gargantuan data centre cluster for OpenAI and other…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The $11bn platinum business being spun out of Anglo American will debut a secondary listing in London on Monday, in a significant milestone for the restructuring of the FTSE 100 mining company.Valterra, formerly known as Anglo American Platinum, is the world’s most valuable platinum producer and has benefited from a recent upturn in prices for the metal used in catalytic converters.The spin-off marks the biggest step yet by Anglo American as it implements an overhaul developed last year while it fought off…
Stay informed with free updatesSimply sign up to the Indian business & finance myFT Digest — delivered directly to your inbox.The investment opportunity in India’s technology sector is akin to Silicon Valley in the 1990s or China in the 2000s, according to the founders of an Indian tech-focused hedge fund set to launch next year, as foreign capital shows signs of returning to the market.India-based Panvira aims to raise $200mn in foreign capital to invest from January 2026 in the burgeoning tech sector of the world’s most populous country. The fund will focus on public rather than private markets to…