Author: Press Room

Stay informed with free updatesSimply sign up to the Pensions industry myFT Digest — delivered directly to your inbox.The UK’s first commercial pension “superfund” deal has been cleared by the regulator opening a new route for employers to offload weaker retirement schemes from their balance sheets.Under the agreement, to be announced on Monday, 10,000 members of the Sears Retail Pension Scheme will transfer to Clara Pensions, a “superfund” that promises employers a cheaper way to offload their pension obligations than a traditional insurance “buyout”.The deal, which will see Clara take over the scheme’s £590mn assets, is the first of its…

© Reuters. A currency dealer works at a dealing room of a bank in Seoul, South Korea, August 25, 2015. REUTERS/Kim Hong-Ji/File Photo By Wayne Cole (Reuters) – A look at the day ahead in European and global markets from Wayne Cole. It’s been an upbeat start to the week in Asia as markets cast aside concerns about rate hikes, and go straight to pricing in early cuts. All the major equity indices are well into the green with South Korea surging 4%, helped by the re-imposition of a short-selling ban. U.S. equity futures and Treasuries have steadied after last…

© Reuters. Indian e-commerce startup Udaan, backed by Lightspeed Venture Partners and Tencent Holdings (OTC:) Ltd., is planning for its initial public offering (IPO) in 2025. The company is currently strategizing to cut costs and form partnerships with consumer brands as part of its preparation for the IPO. The firm, which competes with industry giants such as Reliance Industries and Walmart (NYSE:)’s Flipkart, is also aiming for operational profitability within the next 18 months, according to CEO Vaibhav Gupta. In response to investor demands for profitability, Udaan has reduced its workforce to about 1,800 employees and strengthened its internal controls.…

In the upcoming week of November, investors can anticipate a flurry of quarterly reports from major companies, promising significant market activity. Notable among them is Disney (NYSE:DIS), a household name set to disclose its financial performance. Other key players in the reporting lineup include Take-Two Interactive (NASDAQ:TTWO), Roblox (NYSE:RBLX), Novavax (NASDAQ:NVAX), BioNTech (NASDAQ:BNTX), Biogen (NASDAQ:BIIB), Teva (NYSE:TEVA), AstraZeneca (NASDAQ:AZN), and MannKind (NASDAQ:MNKD). Adding to the mix, Unity Software (U), Lucid Motors (NASDAQ:LCID), Rivian (NASDAQ:RIVN), Li Auto (NASDAQ:LI), Beyond Meat (NASDAQ:BYND), Fisker (FSR), Under Armour (UAA), Warner Bros. Discovery (WBD), AMC Entertainment (NYSE:AMC), and Uber (UBER) will also share their financial…

The rise in antisemitism at several American universities has led some Republican presidential hopefuls to call for the removal of federal funds from the colleges whose officials refuse to handle the issue appropriately.Harvard University and the University of Pennsylvania – two schools that both have received billions in federal payments over the past five years and billions more in federal tax breaks on their endowments – have found themselves embroiled in controversy over their handling of antisemitic incidents on campus following Hamas’ bloody attacks on Israelis and Israel’s response.The issues have boiled over in recent weeks, leading to outside pressure…

64% of college students rely on family for financial guidance, according to a new survey.They beat out banks, friends, and celebrities as the most frequent source of financial advice.Another survey found that over 6 in 10 Gen Z said they were still financially dependent on their parents. 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 Younger people in need of financial advice are not turning to banks or successful entrepreneurs — they’re going to mom and dad instead.That’s according to a new study published…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Novo Nordisk, Europe’s most valuable drugmaker, will accelerate its US expansion at the expense of the EU unless Brussels changes a plan to reform regulation of the industry, the company’s chief executive has said.Lars Fruergaard Jørgensen said much of the Danish company’s research was now done in Boston and “the journey of expanding in the US would be further accelerated” if the EU implemented its new pharmaceutical rules that would cut drugmakers’ years of market exclusivity.Jørgensen, president of EFPIA, the industry association,…

© Reuters. A woman walks at the Maeklong market next to the train tracks, on the outskirts of Bangkok, Thailand September 21, 2016. REUTERS/Jorge Silva/File Photo BANGKOK (Reuters) – Thailand’s inflation rate fell for the first time in 25 months, thanks to falling energy prices due to government support measures and lower food prices, the commerce ministry said on Monday. Thailand’s consumer price index (CPI) fell 0.31% in October from a year earlier, versus a 0.3% year-on-year rise in the previous month, according to data. The figure compared with a forecast for 0.0% for October in a Reuters poll. The…

© Reuters. Boeing (NYSE:), the global aerospace and defense leader, has confirmed a significant cybersecurity breach by the notorious ransomware group, LockBit. The group has threatened to release Boeing’s data unless contacted within a specific timeframe. This breach was confirmed on Monday by both Boeing and VX Underground, an independent cybersecurity tracking organization. The cybercriminals targeted Boeing’s parts and distribution business under its Global Services division. This division provides material and logistical support to customers in over 150 countries, manufacturing commercial jets, defense products, and space systems. Despite the breach, Boeing assured that flight safety was not compromised. LockBit had…

© Reuters. Investing.com– Gold prices fell in Asian trade on Monday, as any relief over a potential pause in the Federal Reserve’s rate hikes was largely offset by traders selling the yellow metal in favor of more risk-driven assets.  Gold saw some strength last week as weaker-than-expected U.S. data, coupled with less hawkish signals from the Fed spurred deep declines in the dollar and Treasury yields. But any major upside in the yellow metal was limited, as traders pivoted largely into risk-driven assets such as stocks and currencies. Safe haven demand for the yellow metal was further dented by a…