Author: Press Room
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Metro Bank has suspended its bid to secure regulatory sign-off on risk models that it previously said would turbocharge profitability. The UK challenger bank has quietly shelved work on its attempt to persuade the Bank of England to allow Metro to use its own internal calculations to model for risk, according to people familiar with the situation. Some added that the project would probably be abandoned as the possible benefits waned.Metro’s attempt to use internal models became headline news in October when…
© Reuters. FILE PHOTO: The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File Photo By Laura Matthews and Carolina Mandl NEW YORK (Reuters) – U.S. Treasury market participants hope the securities regulator will heed pleas for a careful phase-in of a rule it is due to finalize on Wednesday that would force more central clearing of transactions in a seismic overhaul of the $26 trillion market. The top five Securities and Exchange Commission (SEC) officials are scheduled to vote at 10:00 a.m. ET on the…
© Reuters. FILE PHOTO: An electric vehicle charging station is seen at the Volkswagen display during the media day at the Canadian International AutoShow in Toronto, Ontario, Canada, February 14, 2019. REUTERS/Chris Helgren/File Photo (Reuters) – Big companies in Europe, North America and Asia are investing in the fast-moving global EV charging industry, according to a Reuters analysis. That sector is undergoing rapid consolidation, with at least 85 companies being acquired since 2017. Many charging companies are being gobbled up by big energy companies such as Shell (LON:), Statkraft, EDF (EPA:), BP (NYSE:), Total and Engie; hardware companies such as…
© Reuters. Investing.com– Most Asian currencies retreated on Wednesday, while the dollar steadied as sticky U.S. inflation data cast some doubts over what the Federal Reserve will signal at the conclusion of a meeting later in the day. Regional currencies were nursing some losses in recent sessions, as the dollar rebounded on signs of resilience in the U.S. labor market. Data for November also showed a mild uptick in inflation, indicating that the U.S. economy may not be cooling as rapidly as the Fed was anticipating. This notion weighed on most Asian currencies, as did persistent concerns over an economic…
As Republicans struggle to coalesce around a single rival to former President Donald J. Trump, the popular governors of Iowa and New Hampshire have also split their ticket.Gov. Kim Reynolds of Iowa, which votes first in the Republican presidential nominating contest, is backing Gov. Ron DeSantis of Florida. Gov. Chris Sununu of New Hampshire, which votes second, is supporting Nikki Haley, the former United Nations ambassador and South Carolina governor.On Tuesday, Mr. DeSantis played up the power of Ms. Reynolds’s backing while dismissing the potency of Mr. Sununu and calling Ms. Haley an avatar of “the old failed Republican establishment…
Wall Street guru Jim Grant told Fox Business Network inflation is “permanent.”Grant said the Fed is likely to cut rates later rather than sooner.Grant has been the editor of “Grant’s Interest Rate Observer” for the past four decades. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Market watchers expecting the US Federal Reserve to cut interest rates soon may be disappointed.Jim Grant — who’s been editing “Grant’s Interest Rate Observer” for the past four decades — expects Fed chair Jerome Powell to be cautious as inflation…
Stay informed with free updatesSimply sign up to the Renewable energy myFT Digest — delivered directly to your inbox.One of the few bright spots to come out of the COP28 climate summit over the past couple of weeks was a promise by 118 countries to triple the world’s renewable energy capacity by 2030.But in the US, a pledge by the Biden administration will not be enough to get companies fully on board with the energy transition without further help on untangling bureaucratic red tape. Permitting delays and complex state and local regulations are already ensnaring wind farms, solar fields and…
© Reuters. FILE PHOTO: Federal Reserve Board Chairman Jerome Powell answers a question at a press conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy at the Federal Reserve in Washington, U.S., November 1, 2023. A look at the day ahead in European and global markets from Rae Wee: The Federal Reserve’s rate decision on Wednesday is all but a done deal, so that leaves Chair Jerome Powell’s language and the central bank’s dot plot of future policy as the main focus. The world’s most powerful central banker has a tightrope to walk,…
© Reuters. Australia stocks higher at close of trade; S&P/ASX 200 up 0.31% Investing.com – Australia stocks were higher after the close on Wednesday, as gains in the , and sectors led shares higher. At the close in Sydney, the gained 0.31% to hit a new 1-month high. The best performers of the session on the were Zip Co Ltd (ASX:), which rose 6.25% or 0.03 points to trade at 0.51 at the close. Meanwhile, Polynovo Ltd (ASX:) added 5.12% or 0.08 points to end at 1.54 and Star Entertainment Group Ltd (ASX:) was up 4.35% or 0.02 points to…
Florida Gov. Ron DeSantis invoked the name of former President Donald Trump when asked in a CNN town hall on Tuesday about a controversial satanic display in the Iowa state capitol building.”So it’s interesting,” DeSantis told CNN’s Jake Tapper. “I heard this and then I was like, well, how did it get there? Is that even a religion? And lo and behold, the Trump administration gave them approval to be under the IRS as a religion. So that gave them the legal ability to potentially do it.”DeSantis continued, “So I don’t know what the legislature, how they analyzed it, but…