Author: Press Room

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The United Arab Emirates planned to use meetings about the COP28 climate summit it is hosting later this week to pitch oil and gas deals to foreign governments, according to leaked briefing documents obtained by the non-profit Centre for Climate Reporting alongside the BBC.Sultan al-Jaber, president-designate of this year’s UN climate summit, has called for a “phaseout” of fossil fuels globally. But his position as head of COP28 while also leading the UAE state oil company Adnoc has attracted criticism from politicians…

3/3 © Reuters. FILE PHOTO: An employee hiring sign is seen in a window of a business in Arlington, Virginia, U.S., April 7, 2023. REUTERS/Elizabeth Frantz/File Photo 2/3 By Howard Schneider WASHINGTON (Reuters) – Economists who have studied employment during the recovery from the coronavirus pandemic agree that Black, Hispanic, and less-educated workers saw outsized gains relative to whites or college degree holders whose fortunes typically outpace others. But as the demand for workers begins to ease, they are also hoping the U.S. may break the historic pattern where the burden of rising joblessness falls most heavily on those same…

© Reuters Entain downgraded to sell at Goldman Sachs due to disappointing online growth, BetMGM JV losing US market share London-listed sports betting, gaming and interactive entertainment company Entain (LN) (GMVHF) was double downgraded to Sell from Buy at Goldman Sachs, with the price target slashed to 820p from 1,450p per share. Analysts told investors that they are downgrading the stock based on the firm’s view of the fundamentals and because they believe the company’s free cash flow yield merits caution. The investment bank noted they have been wrong on Entain previously due to the company’s disappointing online growth, owing…

FilippoBacci VanEck highlighted that mid-caps can be a potential “sweet spot” for investors as Wall Street looks for opportunities in the last few weeks of trading in 2023. The exchange traded fund issuer argued that mid-caps are often overlooked in favor of large-cap household names and popular small-cap companies. However, the firm said the space can offer value and growth for the right investor. “Mid-caps offer an attractive mix of characteristics from both larger and smaller cap stocks and are currently valued at a near 30% discount to their long-term average and an even greater relative discount to where large…

© Reuters. FILE PHOTO: A Russian state flag flies over the Central Bank headquarters in Moscow, Russia, August 15, 2023. A sign reads: “Bank of Russia”. REUTERS/Shamil Zhumatov/File Photo MOSCOW (Reuters) – The Russian central bank said on Monday it would resume domestic foreign exchange market interventions from January 2024, taking into account FX purchases deferred since August, as well as the government’s spending of rainy day funds to finance its budget deficit. The central bank in August stopped buying foreign currency until the end of the year to avoid aggravating pressure on the rouble, which tumbled past 100 to…

Negative mailers are overstuffing Iowa mailboxes. Attack ads are cluttering the airwaves. And door knockers are fanning out from Des Moines to Dubuque and everywhere in between.The Iowa caucuses, the first contest in the Republican nominating calendar, are poised to play an especially consequential role in 2024. But with only 49 days to go, Donald J. Trump’s top rivals are running out of time to catch him as Ron DeSantis and Nikki Haley thrash each other in the final sprint to the starting line.Far ahead in national polls, Mr. Trump is aiming for an emphatic victory on Jan. 15 in…

P&O’s Pacific Adventure was supposed to stop at multiple ports in New Zealand, The Guardian reported.But it was turned away due to invasive species on the hull, and poor diving conditions stopped it being cleaned.Passengers have been suffering from sea sickness, and can receive a refund and $200 onboard credit after an outcry. 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 Passengers on a P&O cruise have been stuck onboard and suffering from sea sickness after the ship was turned away from New Zealand,…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The value of rare whiskies sold at auction has recorded the steepest fall in a decade other than during the pandemic, indicating that softening demand for luxury items is spreading to an asset class previously seen as a haven from volatile markets.Investment bank Noble & Co said analysis based on about 8,500 transactions of “fine and rare” single malts, defined as whiskies selling for more than £1,000 per 700ml or 750ml bottle, showed a 7 per cent drop to £27mn in the…

© Reuters. FILE PHOTO: Chancellor Olaf Scholz speaks during a hearing at Germany’s lower house of parliament Bundestag following the ruling of Germany’s Constitutional court that the government’s re-location of 60 billion euros ($65 billion USD) of unused debt fro (Reuters) – Germany’s cabinet is expected to agree a supplementary 2023 budget this afternoon, a government spokesperson said on Monday. The cabinet will also try to present a 2024 budget by the end of the year, the spokesperson said, adding that if this did not work out, the plan was to agree a budget in January. The cabinet would base…

© Reuters. Molten Ventures PLC has expanded its portfolio with the acquisition of Forward Partners Group PLC, a transaction valued at £41.4 million. The deal, which is an all-stock agreement, allows Forward Partners’ shareholders to exchange their holdings for new Molten shares at a ratio of one for nine, representing a 7.3% discount based on the closing prices from Friday. As a result of the acquisition, Molten shareholders will hold approximately 91% of the enlarged entity. In conjunction with the acquisition, Molten Ventures is set to increase its financial muscle by raising an additional £50 million. This capital raise will…