Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Smith & Nephew wants to increase the pay of its US executives to bring them closer to US levels, with the head of the FTSE 100 medical devices company describing UK pay packages as “unsustainable”. The company, which has had four CEOs in five years, on Monday published a package of changes to its pay policy as part of efforts to address high executive turnover. Smith & Nephew's move is the latest sign that major UK-listed companies with a large proportion of…
Author: ricardofrancois
Stocks move: Zeeland Pharma, PC fallThe European Stoxx 600 index fell on Monday, with Dutch semiconductor equipment designer Besi leading losses down 8.8%.This follows a sharp decline for the company on Friday after analysts raised concerns about its hybrid link technology business, according to Reuters.Stock chart icon Stock chart iconPC stock price.Raiffeisen Bank shares fall 6.7%Raiffeisen Bank shares fell nearly 7% on Monday amid concerns that the Austrian bank could face US sanctions over its dealings with Russia.The stock was down 6.7% at 2:20pm London time.Reuters reported last week that US sanctions officials are set to warn banks in Austria…
Here is the face behind the presses. Top row, from left, ink officer Enrique Romero, color officer David Oma, press operator Joaquín Velasquez, senior color printing officer Daniel Koval and color setter Jerón Bostic. Middle row, from left, journalist Samuel Pulido, journalist Paul Rogers, operator Mark Strong, journalist Alex Burgon and roller specialist Emmett Jaime. Bottom row, from left, journalist Craig Pesce, pressroom shift supervisor Kal Hämäläinen, journalist 2nd color Jonathan De Leon, press operator Raul Aceves and press operator Jimmy Chadwick. (Gennaro Molina/Los Angeles Times)
Former President Donald Trump declared Monday that “I'm a big believer in tariffs,” and indicated he would likely reimpose tariffs on foreign goods if he wins reelection to a second term.In an interview with CNBC, Trump pointed to the economic and political benefits of targeting foreign goods entering the United States”I absolutely believe in them economically when you're being exploited by other countries,” the presumptive Republican nominee said during an interview on “Squawk Box,” referring to tariffs. “Apart from economics, it gives you power in dealing with other countries.”These comments come at a time when Trump is locked in a…
Chesnot | Getty Images News | Getty ImagesBitcoin prices rose on Monday to reach a new record high above $72,000, after Britain's financial watchdog said it would allow exchanges to list cryptocurrency-related exchange-traded products for the first time.The Financial Conduct Authority said in a notice on Monday that it will not object to applications from recognized investment exchanges to create a UK-listed market segment for crypto-backed exchange-traded securities, or ETNs.Exchanges will need to ensure they have adequate controls, so that trading is regulated and professional investors are provided with appropriate protection. It must meet all requirements of the UK listing…
Stay informed with free updatesSimply sign up for the World myFT Digest – delivered straight to your inbox.This article is an on-site version of our FirstFT newsletter. Sign up for our Asia, Europe/Africa or Americas edition to get it sent straight to your inbox every weekday morning.Good morning. Private equity groups globally have a record 28,000 unsold companies worth more than $3 trillion, as a sharp slowdown in deal-making creates a crisis for investors seeking to sell assets. The figures, revealed in Bain & Co's annual private equity report, show how quickly the industry has grown over the past decade,…
Stay informed with free updatesSimply subscribe to the UK financial system myFT Digest – delivered straight to your inbox.The UK's financial regulator will allow some bitcoin-linked securities to be listed on the stock market, relaxing its tough stance on digital assets as investors around the world snap up money investing directly in cryptocurrencies.The Financial Conduct Authority said on Monday that it “will not object” to the creation of trading securities backed by bitcoin and ethereum for professional investors. Issuers can apply to list securities linked to Bitcoin and Ethereum on the London Stock Exchange from April. ETFs are debt securities…
OILDALE, CA – The church, located at Oildale Drive and Miner Street, has been on the corner since 1954, and was built after an earthquake destroyed the building of the Oildale Church of Christ. Since then, the church went through various denominations and congregations until it was abandoned in 2021.But the Kern County Housing Authority saw another life for the church building, in an often overlooked area of the county. Oildale is an unincorporated town north of Bakersfield, bordering the Kern River Oil Field, one of the largest active oil fields in California. The city was founded in the early…
Sacramento — President Biden, in his State of the Union address, reminded me of a cranky old grandfather flatly telling his anxious adult children: “Look, kids, I'm not getting out of the house. So we can forget about this.”In this case it was the White House. “I'm not leaving,” Biden insisted. He was talking about not abandoning American values. But I also heard something else:He's not going out to the South Lawn and climbing aboard Navy Ship 1 to go by helicopter to a retirement home in Delaware. Not this year anyway.Perhaps no one is more relieved than California Governor…
Elon Musk's AI startup xAI will open source Grok, a chatbot that competes with ChatGPT, the entrepreneur said this week, days after filing a lawsuit against OpenAI and complaining that the Microsoft-backed startup had deviated from… Its roots are open source. xAI launched Grok last year, packing it with features including access to “real-time” information and opinions that counter the “politically correct” approach. The service is available to customers who pay for the $16 monthly X subscription. Musk helped found OpenAI with Sam Altman nearly a decade ago as a counterweight to Google's dominance in AI. But OpenAI, which was…