This article is an on-site version of our Moral Money newsletter. Sign up here to get the newsletter sent directly to your inbox.Visit our Moral Money hub for the latest ESG news, views and analysis from across the Financial Times Good morning from New York. Yesterday, the Stockholm District Court approved the bankruptcy application of Renewcell, a Swedish startup that produces clothing from recycled textiles. Clothing giant H&M was among Renewcell's investors, as the Financial Times reported in 2019. I mention this in part because of the topic of today's newsletter, which focuses on finding cleaner materials for ubiquitous consumer…
Author: ricardofrancois
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.French payments group Worldline expects revenue growth to slow this year as European consumers curb spending, sending its shares down as much as 15 percent even as it pledges to cut costs and improve profitability.Worldline gave a forecast on Wednesday as it also announced a loss of €817 million for 2023, citing a revaluation of some acquisitions on its books that resulted in an impairment charge of €1.15 billion. Its shares recovered some of their earlier losses to trade 9 percent lower…
Voters and Democratic elites are concerned about President Biden's age and ability to carry out his duties, as well as his lackluster polls against former President Trump. The movement to register dissatisfaction with Biden in the Michigan primary on Tuesday did not amplify concerns.Some have gone so far as to suggest that the party choose a new standard-bearer at this late date, perhaps through an old-fashioned “brokered agreement” that ignores the results of the primaries. But replacing the presumptive nominee now would be bad for Democrats and democracy.Biden will not officially become the nominee until he receives a majority of…
Russian President Vladimir Putin and Defense Minister Sergei Shoigu attend a wreath-laying ceremony, marking the beginning of the Great Patriotic War against Nazi Germany in 1941, at the Tomb of the Unknown Soldier next to the Kremlin Wall in Moscow, Russia June 22, 2022. Michael Mitzel | Sputnik | ReutersRussia appears to be relishing French President Emmanuel Macron's gaffe this week when he suggested NATO countries had discussed the possibility of deploying Western ground forces in Ukraine, saying such a possibility could not be “ruled out.”Macron's proposal was widely – and publicly – rejected by NATO member states yesterday. The…
There is no reason to be silent about new releases. The London-based phone company's media push is largely based on leaking information about the devices bit by bit. It's been a solid strategy so far (if a bit annoying as someone who covers this world), since many of its announcements have been first-generation products, each generating buzz beyond the company's loyal fan base. Nothing that the Phone (2a) fits the bill for sure. Although it is actually the company's third phone, it is aimed squarely at a different demographic than the flagship (1) and phone (2). The “a” bit, as…
An urban view of high-rise buildings at dusk as seen from Victoria Peak in Hong Kong.norphoto | norphoto | Getty ImagesHong Kong developer shares rose after Finance Minister Paul Chan scrapped property cooling measures in a bid to boost the sector, which has been hurt by rising borrowing costs and weak economic sentiment.In his budget speech on Wednesday, Chan announced that Hong Kong will withdraw all buy-side tightening measures for residential properties and waive stamp duty on the transfer of REIT units with immediate effect.The Hang Seng Real Estate Index jumped 2.4% after the announcement, but has since fallen from…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Sam Bankman Fried deserves to spend just a few years in prison, lawyers for the disgraced FTX founder argued in a recent appeal for clemency, portraying him as a “selfless” and “altruistic” young man who “devoted his life to charity.”The former cryptocurrency mogul, who was convicted of seven counts of fraud and money laundering last year, is a “non-violent first-time offender….” . . “In a matter where victims are prepared to recover — have always been prepared to recover — one hundred…
The Chinese flag flies over the Great Hall of the People before the opening ceremony of the Belt and Road Forum (BRF), celebrating the 10th anniversary of the Belt and Road Initiative, in Beijing, China, October 18, 2023.Edgar Su | ReutersBEIJING – China is strengthening national security measures by expanding measures to protect state secrets to include a broad category of “business secrets.”Chinese President Xi Jinping on Tuesday signed an order to formally adopt amendments to the “Protection of State Secrets” law, according to state media, which reported that lawmakers approved the updated law at a meeting earlier that day.The…
An aerial photo shows a residential area at Country Garden in Nanjing, east China's Jiangsu Province, on February 5, 2024. Future publication via Getty ImagesFuture Publishing | Future Publishing | Getty ImagesChina Country Garden Holdings The company said on Wednesday that it had received a liquidation request submitted by one of its creditors, deepening concerns about the country's beleaguered real estate sector.The troubled property developer said in a regulatory filing that it received a “liquidation” petition dated February 27 filed by creditor Ever Credit Limited.The petition was issued for failure to repay a loan worth HK$1.6 billion ($204.4 million).Country Garden…
Stay informed with free updatesSimply sign up for the World myFT Digest – delivered straight to your inbox.Good morning. Vladimir Putin's forces trained to use tactical nuclear weapons at an early stage of a conflict with a major world power, according to leaked Russian military files that include training scenarios for an invasion of China.The classified papers, seen by the Financial Times, describe the threshold for using tactical nuclear weapons as lower than Russia has publicly admitted, according to experts who reviewed and verified the documents. The cache consists of 29 classified Russian military files prepared between 2008 and 2014,…