Three other US regulators have opened investigations into Morgan Stanley, managers plan to close or convert major US money market funds ahead of new regulations, and the European Central Bank has kept interest rates steady. In addition, the sanctioned Russian oligarch won a major victory in an EU high court. Mentioned in this podcast:The EU sanctions regime is in turmoil after oligarchs win legal battleManagers are closing or transferring $220 billion in U.S. money market funds before the rules changeUS allies urge Iran not to retaliate against IsraelThe European Central Bank keeps interest rates at 4% in a disputed decisionRegister…
Author: ricardofrancois
Stay informed with free updatesSimply sign up for the Utilities myFT Digest – delivered straight to your inbox.Thames Water's business is simple even if its financial structure is very complex. Remember, this is the first half of a fair solution for the future of struggling utilities. The second involves more difficult and political issues. If both halves are played skillfully, the company's current problems represent an opportunity to demonstrate that the British authorities are playing by the rules, enhancing the safety and attractiveness of investment in the UK. Despite all the talk of complexity, the business structures of private water…
A San Francisco man suspected of vandalizing a Nob Hill mosque was arrested Wednesday evening while visiting the scene of his alleged crime for the second time in as many days.San Francisco resident Robert Gray, 35, was booked on charges of vandalism with damage over $400 and misdemeanor civil rights violation by damaging other property. He is currently sitting in the county jail.Gray or any representative could not be reached for comment.San Francisco police officers responded to a call from worshipers at the Tawhid Mosque around 7:55 p.m. on Wednesday. Mosque-goers told police that Gray was the man who vandalized…
An aerial view of a container ship leaving a shipyard in Qingdao, east China's Shandong Province.Future Publishing | Future Publishing | Getty ImagesAsia-Pacific markets were mixed on Friday after an inflation-fueled sell-off in the previous session, with investors weighing economic data from Singapore and South Korea and awaiting Chinese trade numbers.Chinese trade data for March will be released later today, with exports expected to fall 2.3% year-on-year by economists polled by Reuters. This comes after a weaker-than-expected rise in the country's inflation rate on Thursday.Advance estimates showed that Singapore's GDP rose in the first quarter by 2.7% year-on-year, faster than…
Former Shohei Ohtani translator Ibe Mizuhara stole more than $16 million from the Los Angeles Dodgers star to cover millions of dollars in gambling debts, the U.S. Attorney's Office announced Thursday.The office, which filed a criminal complaint against Mizuhara alleging bank fraud on Thursday, said Ohtani had no knowledge of the fraud and is considered a victim in the case.The office said no bets were placed on baseball games.Mizuhara has been Ohtani's translator for years. During that time, the lawyer's office discovered that Mizuhara had full access to Ohtani's bank accounts. The office said phone records indicate he accessed them…
Two California agencies that regulate robo-taxis said they had not heard from Tesla about its plans for the cars, even though Tesla CEO Elon Musk announced last week that he would unveil a new robo-taxi product in August. Tesla has not applied for the two permits it will need to operate a self-driving car service in the nation's most populous state, the California Department of Motor Vehicles and the California Public Utilities Commission, or CPUC, said in separate statements to NBC News. The lack of permits – or any attempt to obtain them – raises questions about how quickly Tesla…
Just eight months after being attacked in state prison, the man convicted of killing Kristin Smart was stabbed by another inmate and hospitalized again. The incident is being investigated as attempted murder. Paul Flores, 47, was convicted in 2022 of murdering Smart, a Cal Poly San Luis Obispo student last seen on campus with Flores more than 25 years ago, and was sentenced to 25 years to life in state prison for the murder of first degree. On Wednesday at 3:27 p.m., staff at Pleasant Valley State Prison in Coalinga, California, witnessed Flores being stabbed by another inmate in the…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, selects her favorite stories in this weekly newsletter.Brookfield Asset Management is in advanced talks to buy a majority stake in private credit manager Castlelake for $22 billion, as the world's second-largest alternative investment manager uses acquisitions to push further into lending and debt investments that benefit from rising interest rates.The deal under discussion would see Brookfield invest more than $1.5 billion to buy a majority stake in Castelec and make a significant investment in its funds, three people familiar with the matter told the Financial Times. Brookfield and Casselec…
The double murder case against football star and actor OJ Simpson, who died of cancer on Thursday at the age of 76, changed the television landscape forever.Network news was still a limited enterprise in 1994, when more than 30 million viewers tuned into the evening news each night. The broadcasters of the time — Tom Brokaw on NBC, Peter Jennings on ABC, Dan Rather on CBS — were powerful arbiters of what the audience needed to know. The Internet was nascent, and CNN, available in about half the country via cable, was considered a tier below the Big Three.But the…
Investors looking to ride out a volatile market may want to choose physical gold over gold stocks.That's according to George Milling-Stanley, one of the world's gold experts and chief gold strategist at State Street Global Advisors.“One of the reasons I own gold bullion is because I think it gives me some protection against potential weakness in the stock market,” Milling-Stanley told CNBC's “ETF Edge” this week. “When the stock market goes down, Gold mining stocks Remember, they are stocks, and they tend to fall with the general level of the stock market. So, they don't give me that extra level…