Author: Press Room
Stay informed with free updatesSimply sign up to the Global Economy myFT Digest — delivered directly to your inbox.Good morning. The US is rushing to strengthen Taiwan’s defences against a potential Chinese attack, including by training its troops, Taipei’s top national security official has said.Wellington Koo, secretary-general of President Tsai Ing-wen’s National Security Council, said yesterday that Washington’s security co-operation with Taiwan covered “all aspects”. His remarks are likely to rankle Beijing as Xi Jinping prepares for a summit with President Joe Biden today in San Francisco.“[Our] relationship on these security issues is so close, but we must keep a…
© Reuters. A view of a Lego logo inside a store in Copenhagen, Denmark August 29, 2023. REUTERS/Tom Little/File Photo MEXICO CITY (Reuters) – Toymaker Lego will invest more than $200 million to expand its plant in the northen Mexican state of Nuevo Leon, the state’s government said on Tuesday. The government cited two figures for the investment: $205 million and $250 million. A spokesperson did not immediately respond to a request for clarification about the size of the funds set to go toward the expansion. Lego did not immediately respond to a request for comment. Operations in the new…
3/3 © Reuters. Former Goldman Sachs CEO Lloyd Blankfein and Goldman Sachs chairman and CEO David Solomon speak together during Goldman Sachs analyst impact fund competition at Goldman Sachs Headquarters in New York City, U.S., November 14, 2023. REUTERS/Brendan McDermid 2/3 By Lananh Nguyen and Saeed Azhar NEW YORK (Reuters) – Goldman Sachs Chief Executive Officer David Solomon and his predecessor gave career advice to about 4,000 analysts as junior bankers pitched for grants to be given to charity on Tuesday. Solomon interviewed former CEO Lloyd Blankfein, who handed over the reins in 2018, for an audience of junior employees…
vchal/iStock via Getty Images NuScale Power (NYSE:SMR) CEO John Hopkins defended the company Tuesday, saying work continues in the U.S. and two other countries despite last week’s cancellation of its first plant at the Idaho National Laboratory because of concerns about low subscription for the plant’s power. “We have $200M in the bank. That’s cash, no debt. So we have a healthy balance sheet,” Hopkins told an American Nuclear Society conference in Washington, D.C. The CEO said NuScale (SMR) projects in Romania and South Korea continue to develop, and a plan with service provider Standard Power to develop 2 GW…
A state judge in Michigan partly rejected an effort to disqualify former President Donald J. Trump from running for president in the state, ruling that Mr. Trump will remain on the ballot in the Republican primary, and that the state’s top elections official does not have the authority alone to exclude him from the ballot.But the judge appeared to leave the door open for a future battle over Mr. Trump’s eligibility as a candidate in the general election, saying that the issue “is not ripe for adjudication at this time.”The ruling notches a preliminary victory for Mr. Trump in a…
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Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Investors are stepping up pressure on companies to end the production and use of hazardous “forever chemicals” amid concerns over increasing litigation and regulatory scrutiny.More than 50 investment firms representing $10tn in assets will write on Wednesday to the world’s biggest producers of perfluoroalkyl and polyfluoroalkyl substances, known as PFAS, to demand a “time-bound phaseout plan”, increased transparency on production and greater investment in safer alternatives. This is the third year that investors such as LGIM, Aviva Investors, BNP Paribas Asset Management, Nordea and…
© Reuters. Biogen logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration (Corrects paragraphs 1 in Nov 8 story to say Biogen (NASDAQ:) cut profit forecast due to costs related to a deal, not the launch of its Alzheimer’s drug) (Reuters) -Biogen cut its annual profit forecast below Wall Street expectations on Wednesday, on higher expenses related to the recent acquisition of rare disease drugmaker Reata Pharmaceuticals (NASDAQ:). The company had said in July it would cut about 1,000 jobs, or 11% of its workforce, to lower elevated costs compared to rivals and focus on higher-growth…
© Reuters JPMorgan CEO Jamie Dimon signals inflation might not subside quickly Jamie Dimon, CEO of JPMorgan Chase & Co. (NYSE:), expressed concerns about persistent inflation and the overreaction to short-term financial data in a recent interview. Speaking on El Financiero Bloomberg TV, Dimon warned that inflation might not subside quickly. The Federal Reserve is right to have paused hikes for now but “they might have to do a little bit more.” Dimon’s comments followed an unexpected cooling in consumer-price increases, which sparked optimism that the Fed’s anti-inflation efforts are effective. For over a year, Dimon has cautioned about major…
Avicanna Non-GAAP EPS of -$0.01, revenue of $6.27M