Author: Press Room

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A top European Central Bank official wants to give risk managers more power to keep banker bonuses in check, just as senior industry executives are calling for Europe to follow the UK in loosening restrictions introduced after the financial crisis. ECB supervisory board member Elizabeth McCaul told the Financial Times that the central bank was keen for senior risk management staff to “ensure that compliance with the risk appetite framework is used as an input of . . . variable remuneration” including setting the bonus pool…

© Reuters. FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott By Tom Hals WILMINGTON, Delaware (Reuters) – A Delaware judge said she will grant a January trial requested by Warren Buffett’s Berkshire Hathaway (NYSE:), if it agrees to certain conditions, to resolve claims that billionaire Jimmy Haslam tried to improperly inflate his stake in a truck stop chain. Vice Chancellor Morgan Zurn of Delaware’s Court of Chancery said in a Friday ruling…

Spencer Platt/Getty Images News The hype train surrounding Grand Theft Auto 6 has reached fever pitch, with many on Wall Street thinking it will be a “major catalyst” for its maker. The release of the newest iteration in the series could generate “substantial enthusiasm” for Take Two (NASDAQ:TTWO), owner of GTA publisher Rockstar Games, according to Benchmark analyst Mike Hickey. He has a Buy rating and a $164 price target on the stock. “The anticipated release of Grand Theft Auto Next is likely to boost TTWO’s growth significantly in fiscal years 2025 and 2026,” Hickey wrote in a note. (On…

As he aims for an upset victory in Iowa’s Republican presidential caucuses, Florida Gov. Ron DeSantis is fulfilling his goal of stopping in all 99 counties in the state that holds the first contest on the GOP nominating calendar.DeSantis will make his final stop Saturday in Jasper County, where he’ll be joined by popular Iowa Republican Gov. Kim Reynolds, who endorsed him in early November.Also teaming up with DeSantis will be Bob Vander Plaats, president and CEO of The Family Leader, an influential social conservative organization in a state where evangelical voters play an outsized role in Republican politics. Vander…

Topline Federal Reserve Chairman Jerome Powell said Friday it’s too early for the Fed to declare victory in its war on inflation or roll back its related increases in interest rates, though markets continue to increasingly price in a friendlier Fed, driving stocks’ historic rally. Jerome Powell, pictured here last month, won’t commit to the Fed loosening its monetary stance. Getty Images Key Facts It’s “premature” to “speculate” on when the central bank may cut rates from its two-decade high of over 5%, Powell said during prepared remarks at Atlanta’s Spelman College, adding Fed staff are “prepared” to raise rates…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.UN climate talks on how to limit global warming have focused on renewable energy for too long, according to the chief executive of ExxonMobil, the biggest western oil supermajor. In an interview with the Financial Times at COP28 in Dubai on Saturday, Darren Woods said that talks on the energy transition had concentrated on “the electron solution”, while neglecting the role to be played by hydrogen, biofuels and carbon capture.“The transition is not limited to just wind, solar and EVs,” said Woods.…

A federal judge on Friday rejected claims by former President Donald J. Trump that he enjoyed absolute immunity from criminal charges accusing him of seeking to reverse the 2020 election, slapping down his argument that the indictment should be tossed out because it was based on actions he took while he was in office.The ruling by the judge, Tanya S. Chutkan, was her first denying one of Mr. Trump’s many motions to dismiss the election interference case, which is set to go to trial in Federal District Court in Washington in about three months. It offered a sweeping condemnation of…

A 28-year-old man was arrested for planning an attack at Tesla’s delivery event in Austin.He is believed to hate technology and had previously threatened Tesla on Instagram.After his arrest, he said: “I was going to shoot up Elon Musk and the plant,” local news reported. 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 A Florida man was arrested this week after he was alleged to have planned a “mass casualty event” at Tesla’s Cybertruck promotional event on Thursday.Paul Ryan Overeem, 28, is believed to…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Sir Richard Branson has ruled out putting more money into his lossmaking space travel company Virgin Galactic, saying his business empire “does not have the deepest pockets” any more.Virgin Galactic, which was founded by Branson in 2004, last month announced it was cutting jobs and suspending commercial flights for 18 months from next year, in a bid to preserve cash for the development of a larger plane that could carry passengers to the edge of space.The group has said it has enough…

The House of Representatives voted to remove New York Republican Rep. George Santos from his post on Friday due to federal indictment charges. Here’s what happens to Santos’s seat now:New York Gov. Kathy Hochul announced a special election on Friday, just hours after she wrote a post on X claiming she was “prepared to undertake the solemn responsibility of filling the vacancy in New York’s 3rd District,” leading people to believe she would pick someone herself instead holding an election.In her later statement, Hochul clarified she was “prepared to undertake the solemn responsibility of filling the vacancy in New York’s 3rd…