Washington – The Supreme Court ruled Monday that former President Trump cannot be disqualified from appearing on state ballots despite allegations that he “engaged in insurrection” after losing the 2020 election, and therefore must be constitutionally barred from holding office.The Supreme Court, in overturning a ruling by Colorado justices, said states had no authority to interpret the 14th Amendment after the Civil War or use it to remove a presidential candidate from a state's ballot. It was a unanimous, unsigned resolution.In December, the Colorado Supreme Court decided to disqualify Trump from running for president because he violated Section 3 of…
Author: ricardofrancois
Regina Yee says she and Topsort co-founder Francisco Larraín have learned a lot in the past two years since launching their auction-based advertising startup. The company raised $8 million in seed funding in 2022 to value the company at $110 million. Topsort develops retail media technology for small businesses to use auctions as a way to create effective advertising. They were tired of the complexity of creating ad campaigns on Meta, Amazon, and Google, and created a simple API that users could install. When they start a campaign, customers can add elements like sponsored menus, banner ads, and video ads.…
Stay informed with free updatesSimply subscribe to myFT Digest of the US Economy – delivered straight to your inbox.The rapid and frequent improvements to the US stock market outlook as Wall Street strategists scramble to keep up with the rally have been eye-catching, but nowhere near as optimistic as economists are.Take a look at this chart of the US consensus forecast for US real GDP growth in 2024, from UBS. A reminder that in mid-2022, nearly four in five economists polled by the Financial Times predicted we would be in a recession by now. The initially hard landing has become…
Check out the companies making headlines before the bell. Super Micro Computer and Deckers Outdoor – Shares of Super Micro Computer and Deckers Outdoor jumped 12% and 5%, respectively, after S&P Dow Jones Indices said Friday that the two companies will be added to the S&P 500 index later this month. . They will replace Whirlpool and Zion Bancorp, which will move into the S&P MidCap 400 index effective at the March 18 open. Macy's – Macy's stock rose nearly 17% after Arkhouse Management raised its buyout offer for the department store chain to $24 from $21 a share, or…
Apple logo.Coast Photo | norphoto | Getty ImagesThe European Commission, the European Union's executive arm, made the announcement on Monday apple With an antitrust fine of more than €1.8 billion ($1.95 billion) for allegedly abusing its dominant market position to distribute music streaming apps.This is the first antitrust fine Apple has imposed on Brussels, and is among the largest ever imposed by the European Union on a technology company.The European Commission opened an investigation into Apple after a complaint from Spotify in 2019. The scope of the investigation was narrowed to focus on contractual restrictions Apple imposed on app developers…
Last October, the Los Angeles City Planning Department abandoned some of the region's most ambitious measures to address racial and economic segregation and confront an ongoing affordability crisis. Two housing initiatives — the Affordable Housing Overlay and expansions of the Transit Oriented Communities program — would make it possible to build affordable, mixed-income housing in areas that were traditionally off-limits to multifamily homes.But key components of these proposals to protect single-family neighborhoods from development have been withdrawn. The move puts the City of Los Angeles at risk of violating the California Fair Housing Act, falling short of its housing production…
Maslak Financial and Commercial Center in Sariyer district of Istanbul.Ayhan Alton | moment | Getty ImagesAnnual consumer price inflation in Turkey rose to 67.07 percent in February, exceeding expectations, the Turkish Statistical Institute said on Monday.Analysts polled by Reuters expected annual inflation to rise to 65.7% last month.The hotels, cafes and restaurants sector together witnessed the largest increase in annual price inflation at 94.78%, followed by education at 91.84%, while the health rate reached 81.25% and transportation at 77.98%, according to the Institute of Statistics.Food and non-alcoholic beverage consumption prices jumped 71.12% in February year-on-year and recorded a surprisingly large…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.The UK's accounting watchdog has fined KPMG £1.5m for “serious failings” in its audit of M&C Saatchi, one of Britain's best-known advertising agencies.The Financial Reporting Council said on Monday it had fined the Big Four company for failing to meet audit requirements during its audit of M&C Saatchi's accounts for the year ending December 2018.“KPMG’s audit did not meet the required quality standards in a number of respects amounting to serious audit failures and breaches of auditing standards,” said Claudia Mortimore, Deputy…
Stay informed with free updatesSimply subscribe to myFT Digest for ETFs – delivered straight to your inbox.Latest news about ETFsVisit our ETF Center to learn more and explore our in-depth data and comparison toolsChina's “national team” of major state-backed financial services companies has pumped 410 billion renminbi ($57 billion) into domestic stock exchange-traded funds so far this year, according to UBS estimates.Analysts at the bank said they obtained the figure by making estimates based on trailing transaction calculations for 54 Chinese exchange-traded funds.Strategists at the Swiss bank estimated that ETFs tracking the CSI 300 account for more than 75 percent…
British Finance Minister Jeremy Hunt said earlier this month that the UK would not enter a recession this year.Hannah McKay | ReutersLONDON – Economists expect British Finance Minister Jeremy Hunt to use a small fiscal windfall to deliver a modest package of tax cuts in the spring budget on Wednesday.As what will likely be the Conservative government's final financial event before the country's next general election, Hunt is under pressure to offer consolation to voters, with his party trailing the main opposition Labor party by more than 20 points in all national opinion polls.But it must also overcome constraints imposed…