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When Donald Trump rang the opening bell at the New York Stock Exchange on December 12, the chants of “USA” from the trading floor epitomised the investor exuberance that had greeted the president-elect’s victory and powered US stocks to a series of record highs. But just a few months later, investors betting that the new…
Microsoft has walked away from some of its commitments with cloud computing provider CoreWeave in a significant blow to a company seeking to launch a blockbuster $35bn initial public offering next month. CoreWeave provides Microsoft with computing capacity from data centres, which the tech giant uses to scale up powerful AI models such as OpenAI’s…
Friedrich Merz’s “whatever it takes” plan to unleash defence spending and overhaul German infrastructure is set to usher in the largest economic stimulus since the fall of the Berlin Wall. While details still need to be fleshed out, the historic deal between the chancellor-in-waiting and his likely coalition partners, the centre-left Social Democrats, allows for…
In July last year, part of a Manhattan landmark changed hands. A stake in One Liberty Plaza, the ageing former US Steel building that looms over a park once occupied by anti-Wall Street activists, was quietly purchased by a Texas life insurer. A rare transaction in a moribund market for office towers, it received little…
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Canada and the US could imperil North American energy stability if they restricted cross-border electricity and gas supplies in a trade war, an industry watchdog warned. Canada and the US have a “symbiotic…
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Japan’s 10-year borrowing costs rose to a 16-year high on Thursday as Tokyo joined a global bond sell-off sparked by Germany’s decision to spend more on defence. The yield on the 10-year Japanese government bond…
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. HSBC has renamed its “eastern markets” and “western markets” business sections, within months of creating them, after the branding prompted renewed speculation that the bank might formally split along east-west lines. The bank is now…
Donald Trump has warned Hamas that “it is OVER for you” unless it hands over the remaining hostages it holds in Gaza, hours after Washington said it had held direct talks with the militant group. In his most belligerent remarks yet on the conflict, the US president added that he was “sending Israel everything it…
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world President Emmanuel Macron has said he will hold talks with allies over how France’s nuclear weapons could protect Europe, as the continent steps up efforts to guard against an emboldened Russia. In a…
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Billionaire Izzy Englander is exploring opening up the ownership of his $76bn hedge fund Millennium Management to its top executives for the first time, in the latest step to prepare it for life beyond its…
