Author: Press Room
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.As governments around the world promise to clamp down on tax avoidance, there is a boom in the market for insuring against costly disputes with the taxman.Brokers and underwriters say 2023 will be a record year for tax insurance, after the number of companies seeking to purchase policies hit a new high and the money available to cover unfavourable rulings increased.In some cases, brokers say, companies have been able to buy insurance to cover more than $1bn of tax payments in the…
Warning: JAPAY is at high risk of cutting its dividend
More than three dozen members of Congress have already said they are planning to leave their seats, setting the stage for major turnover in the 2024 election.Few of the departures that have been announced are expected to alter the balance of power in the closely divided House, where the vast majority of seats are gerrymandered to be safe for one of the two political parties, or in the Senate. But a handful are already putting crucial seats up for grabs.Many of those who are leaving are expressing frustration about the polarization and paralysis that has gripped the institution particularly this…
Panera founder Ron Shaich says that successful entrepreneurs are opportunists, not risk-takers.In his new book, Shaich says the “swashbuckling entrepreneur of popular imagination” is a myth.A good entrepreneur is someone who’s able to see opportunities others don’t, Shaich says. 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 Although a German study once found that millionaires are more likely to take risks, founder and former Panera CEO Ron Shaich disagrees that leaning into risk is a winning strategy — he argues that successful entrepreneurs and…
David Sleath, chief executive of industrial property group Segro, has a tough sell.The former accountant knows the warehouses the 100-year-old company builds are viewed as boring, ugly spaces that were long associated with the “dirty” business of a declining UK manufacturing industry. Segro has come up against dissent from local residents who have complained its warehouses are an eyesore. Sleath is taking on the naysayers, hammering home the point these buildings are “vital national infrastructure”. Segro’s “very generic boxes” are now at the forefront of digitalisation, he argues, housing data centres and offering space to online retailers, food distributors and…
© Reuters. FILE PHOTO: The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo By Libby George and Rachel Savage LONDON/JOHANNESBURG (Reuters) -The collapse of Zambia’s $3 billion bond rework deal this week is reverberating well beyond the country’s borders, raising doubts about the very framework designed to get bankrupt nations back on track quickly. Zambia’s government said on Monday an International Monetary Fund-approved deal with bondholders – agreed in principle less than a month ago – could not proceed due to objections from bilateral creditors, who say the…
© Reuters. FILE PHOTO: A Chinese flag flutters near a Huawei store in Shanghai, China September 8, 2023. REUTERS/Aly Song/File Photo BEIJING (Reuters) – Huawei has joined with Chinese carmaker Chongqing Changan Automobile to set up a company engaged in the research and development, design, and sales of intelligent automotive systems and component solutions, according to a Sunday filing on the Shenzhen Stock Exchange. “The two parties will jointly support the target company to become an industry leader in automotive intelligent systems and component solutions based in China,” the filing from Changan Auto said.
Florida governor Ron DeSantis is upping his game on the campaign trail in Iowa, away from his home state in Florida. Voters in the two states say they support him — but for contrasting reasons.Iowa residents who support DeSantis told Fox News they admired his willingness to be tough on the U.S. border and say his immigration policies have a national appeal.”I like the fact that he’s supporting the border. You can’t just let people run through,” said Pam from Sigourney, Iowa.Steve in Davenport, Iowa, agreed, adding the border is his top concern and that DeSantis caught his eye with…
Ukraine’s Ministry of Foreign affairs said the country shot down more than 70 drones near Kyiv.The drone attack is Russia’s largest since its invasion of Ukraine began in 2022.Five people were injured and a kindergarten caught fire during the attack. 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 Ukraine says it intercepted most of Russia’s drones launched toward Kyiv as part of the largest drone attack on the country since Russia invaded in February 2022.Ukraine’s Ministry of Foreign affairs said in a post on…
Stay informed with free updatesSimply sign up to the Chinese business & finance myFT Digest — delivered directly to your inbox.Chinese authorities have opened a probe into Zhongzhi, one of the biggest conglomerates in the country’s sprawling shadow financing market, days after the group declared that it was “severely insolvent”.Beijing police said that Zhongzhi was suspected of committing “illegal crimes”, and that “mandatory criminal measures” have been placed on a number of suspects, including one surnamed Xie, the same as its late founder. The statement did not specify the suspects’ alleged crimes or details of the measures being taken.Zhongzhi had…