Author: Press Room
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.SoftBank’s Vision Fund has been accused of deliberately “destroying” a Gen Z-focused social media company it once valued at more than $1bn to safeguard its reputation as an investor amid a probe by regulators. In a lawsuit filed on Wednesday, the co-founders of IRL, which attracted $150mn from SoftBank after being touted as an alternative to Facebook for younger users, claim the company and two other venture capital investors concocted a “flagrant, outrageous lie” that the app was almost entirely populated by…
© Reuters. FILE PHOTO: Wind turbines operate at sunrise in the Permian Basin oil and natural gas production area in Big Spring, Texas, U.S., February 12, 2019. REUTERS/Nick Oxford/File Photo By Nicole Jao NEW YORK (Reuters) – U.S. developers building renewable energy projects and power storage for grids are scrambling to procure critical components, leading to rising costs and project delays. Supply chain problems have tightened supply of high-voltage transformers necessary to connect wind and solar farms and batteries to the grid, projects that are key to the energy transition. The long lead-time for delivery of the transformers, which can…
© Reuters. Nu Holdings (NU) results top consensus but fail to impress buy-side investors Brazilian online lender Nu Holdings (NU) declined after it reported results for the third quarter. Overall, the financial services platforms’ performance was solid, but buy-side expectations were elevated heading into the print, leading to a negative reaction in the stock. Nu Holding reported third quarter net income of $303 million, beating the consensus for $251 million. Nu posted $2.1 billion in revenues, a new all-time record high, compared to the estimate of $2 billion. Commenting on the quarter, analysts at Morgan Stanley said, “Nubank delivered another…
SYLA Technologies signs deal to become largest shareholder of developer Riberesute
© Reuters. The South African rand has experienced a significant rally Tuesday, driven by a combination of US inflation data and shifts in global monetary policy. The currency surged over 2% to R18.22/$ amid a weakening dollar, as the latest US inflation figures suggested a potential pause in interest rate hikes by the Federal Reserve. The positive momentum for the rand continued into Wednesday, with an additional gain of 0.4%, marking a total increase of 3.1% over two sessions. This marks the rand’s largest two-day advance against the dollar since July. The following factors have contributed to this trend:Decreased volatility,…
American Federation of Teachers (AFT) President Randi Weingarten was slapped with an X community note after asking where the “women” were during an all-male Jewish prayer service.Weingarten, who said in 2010 she considers herself to be a “deeply religious” Jew, quoted Jewish conservative commentator Mark Levin’s video footage of the minyan — a quorum of Jewish adults, traditionally male, required for certain religious observances — outside the White House.”Where are the women?” Weingarten asked in the post, which has its comments section limited to Weingarten’s followers.RANDI WEINGARTEN GETS EDUCATED ABOUT EXACTLY WHO IS TO BLAME FOR THE RISE IN HOMESCHOOLING…
CHICAGO, IL – AUGUST 15: The Walmart logo is displayed on a shopping cart at a Walmart store on … [+] August 15, 2013 in Chicago, Illinois. (Photo by Scott Olson/Getty Images)Getty Images Note: Walmart’s WMT FY’2023 ended in January 2023. Walmart (NYSE: WMT), the world’s largest retailer (by revenue), operating discount stores, supercenters, neighborhood markets, and Sam’s Club warehouses, is scheduled to report its fiscal third-quarter results on Thursday, November 16. We expect WMT stock to likely trade lower with revenue and earnings missing consensus marginally in fiscal third-quarter results. The company expects Q3 sales to increase 3% year-over-year…
Two veteran rate watchers offer dramatically different takes on a risky security: the 30-year Treasury. By William Baldwin, Senior Contributor The bond bull market that lasted four decades came to a halt in 2020. The yield on long-dated government bonds has quadrupled. Now what? Facing off on this question are two extremists, both longtime analysts of the yield curve, both stubbornly sticking to views they have long held. One, a bull on bonds, was spectacularly right for 38 years and then just as spectacularly wrong. The other has a track record that is almost a mirror image. The bull is…
Stay informed with free updatesSimply sign up to the Accounting & Consulting services myFT Digest — delivered directly to your inbox.Mazars has agreed to merge its US business with Forvis, a top 10 American accounting firm by revenue, as part of a deal to create a global audit and advisory network with around $5bn in annual sales.Partners at both firms voted through the tie-up on Monday according to a person familiar with the matter, in the latest evidence of dealmaking in an industry undergoing a wave of consolidation.Firms are rushing to build scale in order to invest in technology and…
© Reuters. FILE PHOTO: A woman shops for groceries at El Progreso Market in the Mount Pleasant neighborhood of Washington, D.C., U.S., August 19, 2022. REUTERS/Sarah Silbiger/File Photo By Mike Dolan LONDON (Reuters) – The scale of the debt market reaction to October’s U.S. inflation undershoot partly reflects sheer relief in what’s now one of the biggest bond market bets of the century so far. While headline and ‘core’ annual consumer price inflation rates were just 0.1 percentage point below forecast, at 3.2% and 4.0% respectively, it’s enough to re-fire the disinflation story, cement peak Federal Reserve rates here and…