Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Argentina has refinanced about $50.3 billion worth of peso-denominated sovereign debt in a record bond swap aimed at easing pressure on public accounts and making the way for liberal President Javier Miley to lift currency controls later this year.The Economy Ministry, led by former Wall Street trader Luis Caputo, said on Tuesday it had swapped 42.6 trillion pesos ($50.3 billion) worth of bonds – representing 77 percent of Treasury instruments due this year – for those maturing between 2025 and 2028.Caputo is…
Author: ricardofrancois
Stay informed with free updatesSimply sign up for the myFT AI Digest – delivered straight to your inbox.A British research agency set up to fund high-risk, high-reward projects has launched a £42 million program aimed at cutting the computing cost of artificial intelligence, as the government seeks to secure a leading role in the fast-developing technology. The Agency's first program, Scaling Compute, will work to find cheaper, less power-intensive alternatives to the expensive silicon-based digital infrastructure that AI runs on today, reducing costs by a factor of more than a thousand. “If successful, this program will leap beyond the current…
Traders work on the floor at the New York Stock Exchange in New York City, US, March 5, 2024.Brendan McDiarmid | ReutersLONDON – Global dividends to shareholders will reach a record $1.66 trillion in 2023, according to a new report from British asset manager Janus Henderson.The Global Dividend Index report, published on Wednesday, said payouts rose 5% year-on-year on an underlying basis, with the fourth quarter showing a 7.2% rise from the previous three months.The base figure is adjusted for the impact of exchange rates, one-time special dividends and technical factors related to dividend calendars, along with changes in the…
Flamin' Hot Cheetos' days in California schools may be numbered. A new bill aims to ban food products containing artificial dyes in public schools, including the ingredient that makes Cheetos pop their distinctive yellow and red colors.Lawmakers say young, developing brains are harmed by chemical ingredients and that federal guidelines have not been updated in decades. Assembly Bill 2316 targets six artificial food dyes — Blue 1, Blue 2, Green 3, Red 40, Yellow 5, and Yellow 6 — as well as the coloring agent titanium dioxide, which are ingredients commonly used to artificially color foods including candy. As well…
TOKYO — US stocks rose to record highs on Tuesday, led again by technology companies, as some of Wall Street's most influential companies returned to action.The Standard & Poor's 500 index jumped 1.1% to reach an all-time high last week. The Dow Jones Industrial Average rose 0.6%, and the Nasdaq Composite jumped 1.5%.All three indexes started the day with losses after an upcoming inflation report said US consumers paid slightly higher prices last month than economists expected. Worse-than-expected data kept the door closed on hope that the Federal Reserve could implement long-awaited interest rate cuts at its meeting next week.…
Twitter/X's decentralized rival Bluesky announced Tuesday that it is open-sourcing Ozone, a tool that allows individuals and teams to collaboratively review and categorize content on the network. The company plans to open up the ability for individuals and teams to run their own standalone moderation services later this week, meaning users will be able to sign up for additional moderation services in addition to Bluesky's default moderation. In a blog post, Plosky said the change would give users “unprecedented control” over their social media experience. The company's vision for moderation is a stackable ecosystem of services, which is why it…
Gov. Gavin Newsom was brimming with confidence about Proposition 1 in January as he sat in a Costa Mesa Motel 6 room converted into housing for homeless veterans. “I think she will win by a landslide,” the governor said in an interview with The Times. “Period. Period.”Nearly two months later, Newsom's arrogance appears misplaced.Despite millions spent by his campaign, Newsom's ballot proposal to increase care for drug addicts and fund more treatment beds has made little progress since the March 5 primary. Still very close to being officially declared more than a week after the election, preliminary statistics from the…
Read CNBC's full investigation into alleged organized theft groups that police say are stealing and reselling items from retailers including Ulta Beauty, TJ Maxx and Walgreens.Confronted by sophisticated organized crime syndicates that investigators say targeted his company, Alta Beauty CEO Dave Kimball places some of the blame on e-commerce sites.In the first in-depth interview by a retail executive about organized theft, Kimble responded to a months-long CNBC investigation that showed how police dismantled what they say was a professional network of thieves who used Amazon to resell millions of cosmetics stolen from Ulta stores and other retailers in All over…
An aerial photo shows Boeing 737 MAX aircraft parked on the runway at the Boeing factory in Renton, Washington, on March 21, 2019.Lindsey Wasson | ReutersBoeingThe latest Max crisis is forcing some of their biggest customers to rethink their growth plans this year — and perhaps beyond, several airline CEOs said Tuesday.Their comments highlight how big Boeing buyers are feeling the effects of its problems: growing quality control problems, a slow ramp-up in production, and certification of new planes that is years behind schedule.Southwest AirlinesBoeing, which flies only the 737, trimmed its 2024 capacity forecast and said it was reevaluating…
Ken Griffin, Castle on CNBC's Delivery Alpha, September 28, 2022.Scott Milin | CNBCKen Griffin, founder and CEO of Citadel, believes the Fed should move slowly to lower interest rates in its battle against stubborn inflation.“If I were like them, I wouldn't want to cut too quickly,” Griffin said at the International Futures Industry Conference in Boca Raton, Florida, on Tuesday. “The worst thing they could end up doing is to cut, pause and then change direction back to higher interest rates quickly. That would be, in my opinion, the most destructive course of action they could take.””So I think they…