Author: Press Room

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Santander executive chair Ana Botín has welcomed the removal of the UK’s banker bonus cap and said a similar move in the rest of Europe would better align bankers’ interests with those of their shareholders.The UK last month scrapped the controversial rule brought in following the global financial crisis of limiting banker’s bonuses to twice their base pay.The change was heralded by the UK government as a measure to boost the City of London’s competitiveness after Brexit, but it was criticised by…

© Reuters. Bangkok’s skyline photographed before sunrise in Bangkok, Thailand, April 8, 2023. REUTERS/Athit Perawongmetha/File Photo BANGKOK (Reuters) – Thailand’s previous 2023 economic growth forecast of 2.7% will be lowered after a weaker-than-expected third quarter, Deputy Finance Minister Krisada Chinavicharana said on Monday. Southeast Asia’s second-largest economy expanded much slower than expected, at 1.5%, in the July-September quarter from a year earlier, the slowest this year, due to declining exports and government spending. For next year, while the ministry is aiming for economic growth of slightly higher than 3%, it will try to push for even more with upcoming government…

© Reuters. ZURICH – Julius Baer Group (OTC:) Ltd., the Swiss private banking group, is setting aside provisions for potential credit losses following a significant exposure to a European conglomerate’s commercial real estate and luxury retail assets. The bank confirmed that it had allocated CHF 70 million in loan-loss provisions after assessing the risk at the end of October. Despite the financial setback, Julius Baer maintains a robust Common Equity Tier 1 (CET1) ratio of 16.1%, showcasing the bank’s financial resilience. This development comes as the bank reported an exposure totaling CHF 606 million to the unnamed conglomerate, which according…

© Reuters. Investing.com– Gold prices came close to a one-month high on Monday, rising past key levels as caution before a string of key economic readings fed safe haven demand for the yellow metal. Weakness in the , amid growing bets that the Federal Reserve was done raising interest rates, also benefited the yellow metal, as did signs of weakening economic conditions across the globe.  rose 0.5% to $2,013.69 an ounce, while expiring in December rose 0.6% to $2,014.35 an ounce by 00:15 ET (05:15 GMT). Both instruments were now comfortably above the $2,000 level after flitting with the level…

Earlier in September, Mastercard SpendingPulse had predicted a 3.7% surge in retail sales, excluding automotive, for the holiday season from November 1st to December 24th. E-commerce sales were expected to increase +6.7% year-over-year, and in-store sales to increase +2.9% year-over-year.Black Friday refers to the day after the U.S. Thanksgiving holiday, when retail sales are traditionally strong.Top retailers: Amazon (AMZN), Target (TGT), Walmart (WMT), Best Buy (BBY), Apple (AAPL), Costco (COST), Home Depot (HD), Lowe’s Companies (LOW), eBay (EBAY), Wayfair (W), and Etsy (ETSY).

© Reuters. A Japan Yen note is seen in this illustration photo taken June 1, 2017. REUTERS/Thomas White/Illustration By Tetsushi Kajimoto and Takaya Yamaguchi TOKYO (Reuters) – Former top Japanese currency official Tatsuo Yamasaki said he expects the yen will not weaken significantly from the current 150 to the dollar and is likely to regain strength next year. Yamasaki, Japan’s top financial diplomat from 2014 to 2015 as vice minister of finance for international affairs, told Reuters in an interview that the Bank of Japan could ditch its negative interest rate policy in April at the earliest, when policymakers consider…

Alibaba cofounder Jack Ma just set up a new company called “Hangzhou Ma’s Kitchen Food,” per media reports.It’s involved in sales of pre-packaged food and the processing and retail of agricultural products, per SCMP.Ma has shown interest in the agriculture business since retiring from Alibaba in 2019. 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 For years, Alibaba cofounder Jack Ma has been the poster boy for China’s tech industry — but it looks like he’s moving on to the food business.On Wednesday, Ma incorporated…

It’s once again that time of year, when every financial institution on the planet decides it would be a good idea to make broad predictions about the coming year — despite epochal events occurring in the early months of 2020 and 2022 to quickly remind us just how absurd such an approach is.FTAV’s finest minds will trawl through them for kompromat notable predictions soon enough, but as we wait for more to trickle in, here’s something totally reductive to tide you over.Befitting their status as prestige publications, year-ahead reports get given extra attention in the visual department. What are this…

India is poised for a robust economic performance, with S&P Global Ratings upgrading its forecast for the country’s GDP growth in FY24 to 6.4%, aligning with predictions from the Reserve Bank of India (RBI). However, the forecast for FY25 has been adjusted downward in a similar fashion. The adjustment reflects a broader expectation of a strong rebound to a 7% growth rate in the years following, echoing recent revisions by the International Monetary Fund (IMF). An Economic Times poll suggested that India’s economy may have performed better than anticipated, with a second-quarter FY24 surge estimated at 6.7%, surpassing the RBI’s…

© Reuters. Hansa Biopharma AB, a leader in enzyme technology for transplant and autoimmune diseases, announced today that Chief Financial Officer Donato Spota will resign from his position effective February 28, 2024. The company has initiated the process to find a successor to Spota, who has been instrumental in guiding Hansa through significant growth and transformation. During his tenure, Spota played a key role in Hansa’s evolution into an integrated commercial-stage company adept at navigating complex financial landscapes. President and CEO Søren Tulstrup praised Spota’s critical contributions over the past five years, which have included overseeing the company’s financial strategies…