Author: Press Room

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.South African petrochemicals group Sasol was forced to cancel its annual meeting on Friday after climate activists stormed the stage, interrupting chief executive Fleetwood Grobler as he tried to address shareholders.The group was facing a shareholder rebellion after two of the country’s big investment managers, Ninety One and Old Mutual Investment Group, warned that they would vote against the company over environmental targets.They have been critical of the company, South Africa’s second-biggest greenhouse emitter, for what they say is its lack of…

© Reuters. Tesla, X (formerly known as Twitter) and SpaceX’s CEO Elon Musk speaks with members of the media during the AI Safety Summit at Bletchley Park in Bletchley, Britain on November 1, 2023. Leon Neal/Pool via REUTERS/File Photo (Reuters) – X Corp will be filing a lawsuit against Media Matters and those who attacked social media platform X, Elon Musk said on Saturday in a post on the social media platform, soon after major U.S. companies paused their advertisements on his social media site. Media watchdog Media Matters earlier this week said it found that corporate advertisements by IBM…

Arizona State University canceled an on-campus event where Rep. Rashida Tlaib, D-Mich., was going to speak Friday.The event was organized by the Arizona Palestine Network, which is not an on-campus organization at ASU. Tlaib was going to give a speech at the “Palestine is an American issue” event.An ASU spokesperson told Fox News Digital the event didn’t follow university policies and procedures.”Organizers of events using ASU facilities must be properly registered with ASU and must meet all university requirements for crowd management, parking, security, and insurance. In addition, the events must be produced in a way which minimizes disruption to…

SpaceX is working to send the world’s most powerful rocket yet into space. On its first launch, the Starship-Super Heavy created a huge amount of heat and pressure.The amount was similar to a volcanic eruption, a planetary scientist said.  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 SpaceX has an immense force on its hands as it tries to send Starship-Super Heavy, the world’s most powerful rocket, into space.In fact, the rocket is so powerful that its first launch in April created the equivalent of…

This article is an on-site version of The Lex Newsletter. Sign up here to get the complete newsletter sent straight to your inbox every Wednesday and FridayDear reader,It feels increasingly as if the answer to the question posed in our headline is “Yes”. Between them, the Federal Reserve, Bank of England and European Central Bank have raised rates 35 times since inflation started ripping. For the record, reference rates are 4.5 to 5.5 per cent across the group.Strategists will debate the impact of every morsel of economic data. But the market is already discounting further significant rises. Yields on benchmark…

© Reuters. FILE PHOTO: The logo of Amazon is seen, November 15, 2022. REUTERS/Pascal Rossignol/File Photo By Greg Bensinger (Reuters) -Amazon.com on Friday announced it is trimming jobs at its Alexa voice assistant unit, citing shifting business priorities and a greater focus on generative artificial intelligence. The cuts affect several hundred employees working on Alexa, according to the email. A spokeswoman declined to elaborate on exactly how many were affected. “We’re shifting some of our efforts to better align with our business priorities, and what we know matters most to customers – which includes maximizing our resources and efforts focused…

The White House on Friday condemned House Republicans’ wide-ranging impeachment inquiry into President Biden, saying that there was no legitimacy to the investigation and that recent subpoenas and demands for congressional testimony from the former White House counsel, White House aides and Biden family members were “irresponsible.”“You appear so determined to impeach the president that you have misrepresented the facts, ignored the overwhelming evidence disproving your claims and repeatedly shifted the rationale for your ‘inquiry,’” Richard Sauber, a special counsel for Mr. Biden, wrote to Representatives James R. Comer, a Kentucky Republican who leads the Oversight Committee, and Representative Jim…

Some sailors off the Iberian coast are turning to heavy metal to deter orcas from ramming into their boats.A marine mammal researcher told Insider that the strategy could backfire. The music will also add to human-made ocean noise, which is already a major issue for marine animals. 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 Sailors using heavy metal music to deter orcas from ramming into their boats could find that the strategy backfires.After a series of incidents this year where a population of orca…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Kate Shiber wondered why there was so much hurry-up-and-wait in investment banking. “I would really appreciate if we could strategise how we/I can be more efficient earlier in the day,” she wrote in an August 2020 email to a more senior banker on the “Project Dragon” deal team to which she had just been assigned. A few weeks earlier, Shiber had joined Centerview Partners, the elite boutique M&A investment bank, as a 21-year-old, first-year analyst. The Dartmouth graduate said she had worked past…

© Reuters. FILE PHOTO: Unfinished apartment buildings stand at a residential complex developed by Jiadengbao Real Estate in Guilin, Guangxi Zhuang Autonomous Region, China September 17, 2022. REUTERS/Eduardo Baptista BEIJING (Reuters) – China’s central bank and financial regulators pledged on Friday to ensure financing support for the property sector and to work together to resolve local government debt risks. Chinese leaders are trying to revive the economy and fend off potential financial risks from a property slump and 92 trillion yuan ($12.77 trillion) in local government debt. Financial institutions will meet reasonable financing needs of property firms and refrain from…