Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.The world's largest cannabis producer and distributor is exploring a secondary listing in Europe, including in Frankfurt and London, to capitalize on increased investor interest after the use of the drug became legal in Germany on Monday.Germany now has some of the most tolerant European laws on recreational use of the drug, with adults allowed to carry 25 grams. Commercial cultivation remains illegal but prescriptions and production have been liberalized.“We are very interested in a European listing,” said Juan Martinez, president of…
Author: ricardofrancois
Skydance Media's bid to acquire National Amusements and merge its studio with Paramount Pictures is not a traditional takeover. Question for Paramount Global Shareholders may ask: Is this better than no agreement at all?Skydance made a unique offer to Paramount Global's special committee, responsible for approving or rejecting transactions, and its investors, according to four people familiar with the parameters of the offer. Paramount Global will continue to trade publicly. Skydance will acquire either a significant minority stake or a majority stake in Paramount Global by consolidating its assets and raising new shares, which it will acquire with private equity…
Spotify's live audio app is no longer active, but the company is using technology to better connect fans and artists through its Listening Party feature. This feature allows highly engaged fans to join events such as an artist's album release with opportunities to ask them questions. The company confirmed to TechCrunch that it has been testing this feature in the United States and Indonesia since December 2023, with plans to expand to more markets. “It's still in the early stages but we've been testing a few artists over the past few months including Zara Larsson and Bleachers,” a Spotify spokesperson…
An earthquake measuring 4.8 on the Richter scale struck the northeastern United States on Friday morning.The quake was felt from Boston to Baltimore at 10:23 a.m. ET, according to the US Geological Survey.In New York City, where people felt the earthquake for more than 30 seconds, there were no immediate reports of injuries or damage, but the quake caused numerous delays and temporary closures of transportation infrastructure in the area.The epicenter of the quake was discovered about 45 miles west of New York City and 40 miles east of Allentown, Pennsylvania, in an area north of Whitehouse Station, New Jersey,…
Stay informed with free updatesSimply subscribe to Equities myFT Digest – delivered straight to your inbox.Wall Street stocks rebounded on Friday after US job growth far exceeded economists' expectations, suggesting the labor market remains strong despite rising interest rates.The S&P 500 rose 1.3 percent by early afternoon in New York, while the Nasdaq Composite, which is dominated by technology stocks, rose 1.5 percent.The United States added 303,000 jobs in March, well above the 200,000 expectations of economists polled by Reuters. The unemployment rate also unexpectedly fell to 3.8 percent from 3.9 percent, according to the Bureau of Labor Statistics. Chris…
One of the pillars of behavioral economics is so-called prospect theory, the idea that the pain of loss is much greater than the expectation of gain. This insight, developed by Daniel Kahneman, winner of the 2002 Nobel Memorial Prize in Economic Sciences, was abundantly clear on Thursday, as the S&P 500 fell 100 points in the final two hours and thirty minutes of trading. President Joe Biden spoke Thursday with Israeli Prime Minister Benjamin Netanyahu, calling for an immediate ceasefire in Gaza and more protection for aid workers. News reports also surfaced that Israel was preparing for possible retaliation by…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Ocado is on course for another showdown with investors at its annual meeting this month over a new payout plan that includes an additional share award of up to £15m for its boss Tim Steiner. The FTSE 100 company, which sells its automated warehouses to other grocers around the world and jointly owns online supermarket Marks & Spencer, is seeking to change its pay scheme with the previous scheme expiring this year.Steiner, co-founder and chief executive, is set to receive a share…
This article is an on-site version of the Lex newsletter. Premium subscribers can sign up here for the newsletter delivered every Wednesday and Friday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersDear reader,It is good practice in life and journalism to check your precedence from time to time. This week's Lex column published two charts that provide a reason to consider ours.The first was this:Small biotech company Redx Pharma this week announced its intention to pull out of the London mini-market, blaming Aim for its cash-strapped exit. The company's rumblings haven't been entirely bullish: its revenues…
The US job market surprised economists with its strength once again, adding more than 300,000 jobs in March, with a few key sectors continuing to fuel its growth.Health care and social assistance was the top sector in terms of job gains – a common theme in recent years – adding 81,300 jobs. Government and leisure and hospitality were the next strongest sectors, and together these two major groups accounted for more than 60% of March's gains. In health care, ambulatory services and hospitals combined added 55,000 jobs, according to the Bureau of Labor Statistics. Local government was another strong employment…
Job creation in March easily exceeded expectations in a sign that a crowded and flexible labor market continues to accelerate.The Labor Department's Bureau of Labor Statistics reported Friday that the number of nonfarm payrolls rose by 303,000 during the month, well above the Dow Jones estimate for a gain of 200,000 and higher than the downwardly revised gain of 270,000 in February.The unemployment rate fell to 3.8%, as expected, although the labor force participation rate rose to 62.7%, an increase of 0.2 percentage points from February. The broader measure, which includes discouraged workers and those holding part-time jobs for economic…