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Ailing retailers like Walgreens Boots Alliance have scared off even the most daring Wall Street financiers. But that fear has repeatedly proven an opportunity for Sycamore Partners’ Stefan Kaluzny. The intensely secretive co-founder of the private equity firm has been able to make big bets that Americans are not done with malls and in-person shopping,…
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. How do you know when a bubble has popped? Twenty-five years ago on Monday, a multiyear US stock rally hit its peak and began a precipitous decline that would wipe 77 per cent off the…
It took just a few hours for Friedrich Merz to conduct one of the sharpest U-turns in recent political history. At lunchtime last Friday, Germany’s chancellor-to-be received a sobering briefing on the state of the economy from finance minister Jörg Kukies. Kukies explained that after two years of stagnation and with more clouds gathering over…
Stay informed with free updates Simply sign up to the Life & Arts myFT Digest — delivered directly to your inbox. Alaska Airlines flight 1805, Los Angeles to Washington DC, March 5 2020. So spookily empty is the cabin, the nice stewardess keeps offering me the surplus sandwiches, somehow not realising that the physical splendour…
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A proposed €150bn injection into the EU’s defence industry has become a new flashpoint in a long-standing battle between France and Germany over the continent’s rearmament drive and whether it should include countries outside the…
Stay informed with free updates Simply sign up to the Trade disputes myFT Digest — delivered directly to your inbox. China has said it will impose tariffs on Canadian agricultural and food products in retaliation for Ottawa’s levies on Chinese electric vehicles, adding to trade uncertainties clouding the Canadian economy. China’s commerce ministry on Saturday…
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world The US is in exploratory discussions with the Democratic Republic of Congo about a possible deal giving it access to critical minerals in the African country, the latest in a series of efforts…
Scores of people were reported killed in Syria on Friday as members of the government’s security forces clashed with loyalists of deposed president Bashar al-Assad for a second day, marking the most violent episode for the country’s new leaders since the fall of the regime. Syrian officials said the clashes began on Thursday when gunmen attacked state…
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Saudi Arabia’s sovereign wealth fund and PwC clashed over the Big Four firm’s plans to hire a senior executive from one of the fund’s most important projects, as relations between the two sides deteriorated last…
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. JPMorgan Chase claimed to the UK financial regulator that it had evidence indicating former Barclays chief executive Jes Staley was involved in criminality related to sex offender Jeffrey Epstein’s convictions, a London court was told….
