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 worldLVMH boss Bernard Arnault has criticised the EU’s efforts to strike a deal with the US to reduce Donald Trump’s tariffs, saying the bloc’s negotiations with Washington had got off to a “bad start”.The chief executive of the French luxury company, one of Europe’s largest businesses by market capitalisation, urged the EU to engage “constructively” in negotiations with the Trump administration as he highlighted how the UK had quickly struck a trade deal with Washington.“The United States is the world’s…
Image: Getty Images/ For illustrative purposes Bain Capital has unveiled hscale, a dedicated hyperscale data centre platform. The announcement marks a significant milestone in Bain Capital’s broader EMEA digital strategy, which began with its October 2024 acquisition of AQ Compute. With a leadership team boasting a track record of delivering nearly 7 gigawatts of data centre capacity across EMEA and APAC, hscale is primed to meet soaring demand from hyperscalers driven by the surge in AI and cloud computing. Spearheading the venture is CEO Oliver Schiebel, former head of Mainova WebHouse, supported by a team of industry veterans with deep…
Today is a big day in drugs. It’s when the US Food and Drug Administration shuts down an emergency measure that allows pharmacies to sell copies of the most widely prescribed weight-loss injection. What happens afterwards is anyone’s guess.As MainFT reported in April:Millions of Americans must decide whether to give up on new weight-loss drugs or move to more expensive branded versions, after the US medical regulator in effect called time on the production of cheaper replicas.While Novo Nordisk and Eli Lilly were unable to keep up with demand for their new blockbusters Wegovy and Zepbound, an unusually large market…
The EU is in Donald Trump’s cross hairs. So how should it respond? In this week’s episode, Paschal Donohoe, Ireland’s finance minister and president of the Eurogroup of finance ministers, discusses whether the euro can challenge the dollar. He tells Gideon that European integration should go even further – and makes the case for immigration and a new relationship between the EU and the UK. Clips: Euronews,PBS NewshourFollow Gideon on Bluesky or X @gideonrachman.bsky.social, @gideonrachmanMore on this topic:Why the EU beats Trump at the art of the dealHow the UK and EU thrashed out a post-Brexit reset in relationsDonald Trump…
High transaction costs mean we’re stuck with a housing market dependent on price growth to function Source link
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldBrussels has dangled some fresh bait to hook a trade deal with Donald Trump: American lobsters.During the US president’s first term, the bloc agreed in 2020 to eliminate tariffs on the shellfish, as Trump sought to claw back support for his re-election bid in the fishing state of Maine.But the deal expires on July 31, just after the scheduled end of a truce in the two sides’ current trade war.The European Commission is open to extending the lobster deal as…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.After garnering an early reputation as a successful if somewhat boring Norwegian chief executive, Helge Lund has now found himself at the centre of corporate drama at not one but two of Europe’s biggest companies.The 62-year-old former McKinsey consultant has become a lightning rod for shareholder dissatisfaction at oil and gas group BP and drugmaker Novo Nordisk as chair of both businesses.At BP, Lund has presided over a board that changed both strategy and chief executives, while facing pressure from a large…
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 hereToday’s agenda: Israeli embassy staff killed in Washington; Telegram’s first annual profit; Nestlé CEO interview; Burkina Faso’s anti-west icon; and has Starlink already won the space race?Good morning. We begin with the market fallout as Donald Trump moves closer to passing a sweeping budget bill that would extend tax cuts and increase the US federal debt. Here’s what you need to know.Market reaction: US government bonds…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Billionaire UK media tycoon Richard Desmond’s companies do not have enough liquid assets to pay potential legal costs, it has been claimed in court as part of a £1.3bn lawsuit over the contract to run the National Lottery.The UK Gambling Commission and Allwyn, which won the contract to run the state-franchised lottery, asked a judge on Wednesday to make an order forcing Desmond’s Northern & Shell to set aside funds to ensure it can cover legal costs should he lose the high-profile…
Bets that currency deals will form part of trade negotiations with the US have helped lift a string of Asian currencies against the dollar, as traders look for signs that countries will offer to scale back intervention to appease President Donald Trump.The Korean won, Japanese yen and Taiwan dollar have rallied strongly in recent weeks, making them Asia’s top-performing currencies this year, in the expectation that talks on lowering sweeping US trade tariffs will touch on how countries manage their dollar exchange rates. “It is quite likely that the market believes that the US will look to introduce some language…