Author: Press Room

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Fintech Atom has taken a valuation hit after raising more than £100mn from existing investors as the sector grapples with higher interest rates and weaker investor sentiment.The digital bank raised the equity from Spanish bank BBVA, private equity firm Toscafund and London-based Infinity Investment Partners, three of its longstanding shareholders.A person close to the company said the funding round valued the challenger bank at £362mn, down from a previously reported £435mn at the start of last year. The valuation cut is the…

© Reuters. A Tesla vehicle is charged at a Tesla supercharging station in Kettleman City, California, U.S., January 25, 2023. REUTERS/Mike Blake/File photo (Reuters) -More automakers signed up to access Tesla (NASDAQ:)’s electric-vehicle charging infrastructure across the United States, taking the Elon Musk-led company’s superchargers closer to becoming the industry standard. Texas has approved a plan to require EV charging companies to include Tesla’s plug if they want to be eligible for federal funds. Tesla’s North American Charging Standard is more widely available and reliable than rival charging network CCS, which is backed by automakers such as Volkswagen (ETR:) and…

© Reuters. Today, the S&P/TSX Composite Index in Canada closed up by 16.71 points or 0.09% at 18,873.47, despite a decline in metals and utilities stocks, according to Greg Taylor from Purpose Investments. Meanwhile, U.S. markets also experienced growth with the rising by 123.91 points, the increasing by 26.98 points, and the gaining 61.76 points. This surge in U.S. markets comes ahead of Apple (NASDAQ:)’s Q3 earnings release and crucial upcoming payroll data that may influence central bank decisions. Statistics Canada reported a flat economy with a slight contraction in Q3, while the Bank of Canada maintained its key rate…

© Reuters. Ingots of 99.98 percent pure platinum are placed in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, January 31, 2023. REUTERS/Alexander Manzyuk/File photo By Harshit Verma and Polina Devitt LONDON (Reuters) – Analysts and traders have lowered their price forecasts for platinum and palladium in 2024 due to weak auto production and concerns about a global economic slowdown, a Reuters poll showed on Wednesday. The two sister metals are used primarily by automakers, which embed them in engine exhausts to reduce emissions. Platinum is also used in other industries, jewellery,…

bagi1998/iStock via Getty Images Nyrstar (OTC:NYRSF) (OTC:NYRSY) said Wednesday it plans to temporarily close two zinc mines in Tennessee at the end of November because of low prices and high inflation; zinc prices on the London Metal Exchange have fallen 16% YTD. The company, majority owned by trading and logistics company Trafigura, said it will halt production starting November 30 at its Middle Tennessee Mines, which consists of two underground zinc mines, Gordonsville and Cumberland. The Middle Tennessee processing plant has a capacity of 3M metric tons/year of ore and 50K tons/year of zinc concentrates, according to Reuters. Nyrstar (OTC:NYRSF)…

The House of Representatives, fresh off nearly a month of paralysis and Republican infighting, is starting its first legislative week back consumed by a round of partisan blame-laying and institutional strife.Using the most severe tools at lawmakers’ disposal, the House is set to consider a trio of disciplinary measures that have divided members, mostly along partisan lines. There is a Republican-written resolution to expel Representative George Santos, the New York Republican who has been indicted on charges of fraud, stealing public funds and identity theft.Republicans are moving to formally censure Representative Rashida Tlaib, Democrat of Michigan and the only Palestinian…

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 Hi! Did you go a bit overboard with candy yesterday? Don’t sweat it. Here’s some guidance on how to undergo a sugar detox.In today’s big story, we’re looking at a Wall Street giant jumping into one of the hottest sectors in finance.What’s on deck: But first, do you need some money?The big storyEverybody’s a lender AP Photo/Julia Nikhinson; Arantza Pena Popo/Insider When you hear BlackRock, what’s the first thing that pops into your head?Larry Fink? ETFs? ESG?…

The Bureau of Prisons’ position on First Step Act is keeping people in prison longer than necessary … [+] … just ask a Federal Judge in New Hampshire.getty The First Step Act (FSA) was signed into law in December 2018. The law allowed prisoners, mostly minimum and low security offenders, to earn a reduction in their sentence for being productive while incarcerated. That productivity is measured by the prisoners’ participation in meaningful programs and having a job while incarcerated. However, nearly five years after the law was enacted, the complexities of the Federal Bureau of Prisons (BOP) ability to comply…

Stay informed with free updatesSimply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox.Twenty-eight countries including the US, UK and China have agreed to work together to ensure artificial intelligence is used in a “human-centric, trustworthy and responsible” way, in the first global commitment of its kind.The pledge forms part of a communique signed by major powers including Brazil, India and Saudi Arabia, at the inaugural AI Safety Summit. The two-day event, hosted and convened by British prime minister Rishi Sunak at Bletchley Park, started on Wednesday.Called the Bletchley Declaration, the document recognises the “potential…

The U.S. labor market continues to show strong performance, with significant wage increases for workers, despite the Federal Reserve’s tightening policies and looming recession fears. The Employment Cost Index (ECI), a measure of employer compensation expenditure, recorded a 1.1% rise in Q3, surpassing expectations. This comes amidst adjustments to the labor-short post-pandemic job market. Yearly civilian wages increased by 4.6%, exceeding pre-pandemic growth rates. Key agreements between the United Auto Workers (UAW) and Big Three automakers promise a 25% wage increase and a substantial 150% pay rise for low-wage temporary workers. State and local government employees also saw significant wage…