Author: Press Room
WASHINGTON, DC – OCTOBER 30: U.S. President Joe Biden signs a new executive order guiding his … [+] administration’s approach to artificial intelligence during an event in the East Room of the White House on October 30, 2023 in Washington, DC. President Biden issued a new executive order on Monday, directing his administration to create a new chief AI officer, track companies developing the most powerful AI systems, adopt stronger privacy policies and “both deploy AI and guard against its possible bias,” creating new safety guidelines and industry standards. (Photo by Chip Somodevilla/Getty Images)Getty Images As the global race to…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The office is dead, long live the office. That, at least, is the message from the City of London. It says it will welcome 11 new towers by 2030. With 500,000 square metres of office space being built, and a further 500,000 in the development pipeline, space in the Square Mile may increase by up to a tenth. On the face of it, such lofty constructions look misguided. Companies have struggled to get employees back into the office following the pandemic, and it…
© Reuters. Raiffeisen, a part of the RBI Group, has seen significant declines in its Russian operations this year. The bank reported a 5.7% decrease in profitability from January to September, falling to just over $1 billion. Additionally, the operating income suffered a 19.2% decrease to €2.1 billion ($2.2 billion) during the same period. The bank’s loan portfolio also contracted by two-thirds within nine months, shrinking to €6.3 billion. In the third quarter alone, Raiffeisen reported an after-tax profit of €339 million, significantly lower than the previous year. The revenue for this quarter was recorded at €331 million. Raiffeisen and…
Before a single ballot was cast, Louisiana Democrats knew they couldn’t win control of the State Legislature this year. It was mathematically impossible, because a lack of candidates meant they were not even contesting the majority of districts.Their best hope for political success rested with Shawn Wilson, a former state transportation secretary, and the expectation he would force a runoff against Jeff Landry, the state’s hard-line Republican attorney general, in an open primary for governor.At least, Democrats reasoned, Mr. Wilson would make it a little harder for the overwhelmingly favored Republican to flip control of the governor’s mansion in a…
When you buy through our links, Insider may earn an affiliate commission. Learn more You’re just a few clicks away from a free England vs. Australia live stream. We’ve been running coverage from the start of the tournament on how to watch the Cricket World Cup online, and this is a match we’ve been eagerly anticipating for a long time as it features one of the biggest rivalries in global cricket.Truth be told, though, England (the current holders, no less) have been an absolute disaster in India and are effectively out of the tournament already. When a rivalry is as…
When New York’s nightlife reopened as pandemic lockdowns eased, partygoers wanted to drink one thing: cognac. “Everybody was ordering excessive amounts of bottles . . . at one point there was a shortage of Henny,” said club promoter Frankie Banks, referring to LVMH’s Hennessy brand cognac. But the party is now over. After a three-year boom, US demand for cognac has slumped, with the French groups that dominate the market — LVMH, Rémy Cointreau and Pernod Ricard — each reporting declining sales in their third-quarter earnings. The trend matches a slowdown in the broader market for luxury goods. Premium alcohol sales rocketed during Covid…
© Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect The initial public offering (IPO) market opened November with three new issuers trading and one deal postponed. Reinsurer Hamilton Group initiated a $255 million US IPO, with the pricing due to be announced next week. The company aims to raise funds at a $1.9 billion market cap through its subsidiaries in Bermuda and Europe, offering diverse insurance products globally. In contrast, Waystar, a healthcare billing platform, has delayed its IPO until December. Furthermore, Shimmick (SHIM), a firm specializing in public water infrastructure, plans to raise $50 million at a $333 million…
Ohio Rep. Greg Landsman, a Democrat, canceled a town meeting scheduled for Saturday in the city of Lebanon in response to threats being made against Jewish people across the U.S. amid the war between Israeli forces and Hamas terrorists.Landsman, who is Jewish, announced Friday that the event in the Cincinnati suburb would be canceled, citing security concerns.”We have been advised by the House Sergeant at Arms and local law enforcement that due to problematic online discourse and very serious national threats against Jews, it is imperative we take necessary steps to keep people safe,” Landsman’s office wrote in a statement.FBI…
Investors need to pay careful attention to which bonds you’re buying.getty “Time to Buy Bonds” proclaims the cover of this week’s Barron’s. A recent New York Times headline reads, “Bonds Have Been Awful. It’s a Good Time to Buy.” The Telegraph’s Ambrose Evans-Pritchard chimes in, “This looks like the perfect entry point.” That may very well prove to be excellent advice. The Fed looks like it’s at or close to the end of the interest rate tightening that drove up yields to levels that finally look appetizing. But if you’re thinking of jumping in for a short-term trade, pay careful…
Stay informed with free updatesSimply sign up to the ESG investing myFT Digest — delivered directly to your inbox.UK investors pulled money out of so-called responsible funds at a record rate, as the market adjusted to the view that interest rates would stay higher for longer and ESG lost its shine in a more volatile market.Responsible investment funds registered a record outflow of £544mn in September, meaning investors have withdrawn more than £1bn so far in 2023, according to figures from the Investment Association.Responsible funds, which take into account environmental, social and governance factors in investment decisions, saw huge inflows…