A federal judge found that Los Angeles city officials altered evidence to support the city's defense against allegations that it illegally seized and destroyed the property of homeless people.Warning that the city would likely face penalties after the forensic examination, U.S. District Judge Dale S. Fisher said in the order that the city not only “altered, modified, and created documents relevant to Plaintiff's allegations” but also failed to lawfully submit the requested documents. “Suffice it to say that the City’s credibility has been significantly damaged,” she wrote.According to court filings, records documenting what was captured during the cleanups and legal…
Author: ricardofrancois
PHOENIX — When a group of voters were asked during a focus group about Vice President Kamala Harris, their assessments were brutal: If she's helping Biden, you don't see it. It rubs me the wrong way. It was chosen because of its demographic. The big things she had, she failed.The comments, whether fair or not, are a problem for President Biden and Harris, and that was echoed in interviews with voters here in Arizona, a key swing state where Harris spoke on Friday. More than three years after the oldest president in the first term in history, his replacement has…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, selects her favorite stories in this weekly newsletter.FTSE 250 engineering services firm John Wood Group should either move its listing to the United States or consider going private, activist investor Sparta Capital Management said on Tuesday.The call comes a year after the collapse of a £1.7bn takeover of Wood from buyout group Apollo. Wood's shares have fallen by a third, to an all-time low, since Apollo pulled out of a 240p-a-share cash offer last April, but rose 1 per cent in early trading on Tuesday to 142p after the…
Stay informed with free updatesSimply sign up for the myFT Currency Digest – delivered straight to your inbox.Indonesia's central bank intervened to support the rupiah on Tuesday, while the Indian rupee fell to a record low as a rising dollar sparked a wave of turmoil in emerging market currencies.Rising tensions in the Middle East in the wake of Iranian attacks on Israel and growing expectations that the Federal Reserve will delay interest rate cuts have strengthened the US currency. Last week, the dollar recorded its strongest weekly performance since 2022 after strong US inflation numbers increased bets that the Federal…
Rafael Henrique | Rocket Lite | Getty ImagesTelecommunications equipment maker Ericsson on Tuesday reported revised first-quarter earnings that beat expectations and said sales may stabilize in the second half of the year despite weak demand for 5G equipment.Operating profit excluding restructuring charges unexpectedly grew to 4.3 billion kroner ($394.40 million) from 4.0 billion kroner a year earlier despite a 15% drop in sales. Analysts polled by LSEG on average expected a decline to 1.7 billion kroner.Ericsson said the earnings included a one-time gain of 1.9 billion crowns related to the resolution of a commercial dispute.The Swedish group said it expects…
Berlin-based finmid — one of several startups building embedded fintech solutions, in its case targeting markets that want to provide their own payment and financing options — has raised €23 million ($24.7 million) in a Series A round to continue… Build your company's product and enter new markets. The round values the company at €100 million ($107 million), after funds. Marketplaces – typically a two-sided business that brings together retailers or other third-party service providers with customers to buy their products or services – are very classic targets for embedded finance companies, not least because they host a lot of…
This article is part of the FT Globetrotter's Milan guideRome may be the capital of Italy, but Milan is definitely the capital of design. Since the early 20th century, Italy's commercial and financial center has been at the forefront of innovative design, an inspiring place for the likes of the innovative furniture designer Osvaldo Borsani and the architect Gio Ponti, one of the predecessors of the skyscraper. Although the city flaunts its style year-round, each spring this creative spirit surfaces more actively: Milan Design Week returns this week, along with the popular furniture fair Salone del Mobile Milano (both running…
Authorities on Monday identified a man suspected of shooting from the top of an apartment complex in Marina del Rey over the weekend.The Los Angeles County Sheriff's Department identified the suspect as 41-year-old Victoriluc Nguyen, who remains jailed in lieu of $2 million bail.No one was injured in the shooting Saturday night in the 4100 block of Via Marina, according to a written statement from the Sheriff's Department.The incident began at 10:15 p.m. when deputies from the Marina del Rey Sheriff's Department responded to reports of shots fired from inside the apartment complex.Later, a police helicopter “spotted a suspect on…
Los Angeles Mayor Karen Bass used her State of the City address to announce a fundraising campaign to bring homeless Angelenos into their homes, and called on business leaders, charitable organizations and wealthy individuals to contribute to the effort.Bass told the audience gathered at City Hall on Monday evening that her administration has already made decisive strides in combating homelessness, in part by working more closely with county, state and federal agencies.Now, Bass is urging those with the means to contribute financially to buy or rent buildings that can be converted into homes for the city's unhoused residents.Bass declared a…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, selects her favorite stories in this weekly newsletter.In March, when a visiting delegation of Swedish investors and bankers passed through factories and shipyards in China for the first time since the pandemic, what they witnessed was a shock to their systems.Across the mainland, where Swedish manufacturers have a long-standing presence, competition from Chinese companies has been “fierce,” even “brutal,” according to Matthias Sandling, chief equity strategist at Handelsbanken. “The way they were able to catch up and develop in just two or three years was amazing to us,” he…