Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Modest cuts to fixed mortgage interest rates are likely over the coming weeks, brokers and housing market analysts said, following positive inflation data and upbeat expectations from the Bank of England. Simon Gammon, managing partner at property broker Knight Frank Finance, said the combination of lower-than-expected inflation figures and the Bank of England's decision to keep interest rates steady – amid upbeat comments from the bank – had added “stability” to the mortgage market. “One of the major lenders [NatWest] Their rates…
Author: ricardofrancois
Fanatics Founder and CEO Michael Rubin in his New York office.The Washington Post | Getty ImagesSports merchandise giant fanatics are hitting back at the sports book giant Kings Project In an ongoing legal battle over fanatics' hiring of a senior figure Kings Project executive.In a legal brief filed late Thursday in the U.S. District Court in Massachusetts, zealots accused DraftKings of distorting reality and character assassinating its former senior vice president of business development, Michael Hermalin.In February, Hermaline accepted the position of President of Fanatics VIP and Head of Fanatics' Los Angeles office. He reports directly to CEO Michael Rubin.DraftKings…
A view shows the logo for the Paris 2024 Olympic and Paralympic Games, in Paris, France, March 19, 2024. Benoit Tessier | ReutersMany of the world's greatest athletes will make their big screen debut IMAX Theaters this summer.nbc It announced Friday that its live coverage of the opening ceremony of the 2024 Paris Olympics scheduled for July 26 will be shown on more than 150 IMAX screens in the United States.The opening ceremony of the Summer Olympics will be the first not to be held in the stadium. Instead, organizers will send the Olympic athletes down the Seine on a…
Convicted murderer Rebecca Grossman's conversations from prison have angered prosecutors, who on Friday will ask to block her access to phones and cut off visitors.Grossman is awaiting sentencing after being found guilty last month of second-degree murder in the deaths of two young boys who were beaten and killed in a crosswalk while she was speeding along a residential Westlake Village street.Prosecutors allege she was inciting “unlawful conduct” via phone calls to her family in prison, and say her legal team tried to manipulate the jurors who convicted her. Here's what's happened since a jury found Grossman guilty of all…
US passengers.Carolyn Purser | Photo Bank | Getty ImagesThe recent influx of immigration to the United States is helping to boost the economy despite a host of global challenges, according to Joyce Chang, chair of global research at Harvard University. JP Morgan.The US Federal Reserve on Wednesday raised its forecast for US GDP growth to 2.1% for 2024, up from 1.4% in its December forecast, as the economy continues to show resilience despite higher interest rates as the central bank seeks to manage inflation levels.Meanwhile, the labor market remained relatively hot despite tightening monetary conditions, with unemployment remaining below 4%…
Federal Reserve Chairman Jerome Powell testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled “Semiannual Monetary Policy Report to Congress” in the Dirksen Building on Thursday, March 7, 2024.Tom Williams | Cq-roll Call, Inc. | Getty ImagesFed members still expect three interest rate cuts in 2024 despite the improving outlook for economic growth.The Federal Open Market Committee's March forecast for interest rate cuts, or the so-called dot chart, shows the federal funds rate averaging 4.6% in 2024. With the current federal funds rate in the range of 5.25% to 5.50%, The dot plot involves three reductions of…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Oil tankers suspected of helping Russia evade Western sanctions have begun routinely refusing to help experts navigate the dangerous straits linking the Baltic Sea and the North Sea, raising the risk of spills.Since the beginning of January, at least 20 tankers carrying Russian oil have refused to take on professional pilots, according to leaked internal reports seen by the Financial Times and Danwatch, a Danish media and research group.Denmark provides pilots to assist in safe passage through the Danish Straits, which are…
As the general election campaign begins in earnest, we can expect disinformation attacks to target voters, especially in communities of color. This has happened before: In 2016, for example, Russian disinformation programs focused on black Americans, created Instagram and Twitter accounts disguised as black voices and produced fake news sites like blacktivist.info, blacktolive.org, and blacksoul.us.Technological advances will make these efforts more difficult to recognize. These same fake accounts and websites feature hyper-realistic videos and photos intended to sow racial division and mislead people about their voting rights. With the advent of generative AI, this has become possible at little or…
A BYD Seagull mini electric car is on display during the 20th Shanghai International Automobile Industry Expo at the National Exhibition and Convention Center (Shanghai)VCG | China Optical Group | Getty ImagesLIVONIA, MICHIGAN – The small electric car is having a big impact on the global auto industry.It's not the electric car itself that's creating the hype, but rather its price and potential to disrupt domestic auto industries around the world.Chinese made BYD The Seagull, an all-electric small hatchback, starts at just 69,800 yuan (or less than $10,000), and is said to be generating profits for the increasingly influential Chinese…
Aston Martin DB11 on display during the 2018 Turin Motor Show. Stefano Guidi | LightRocket | Getty ImagesLONDON – Adrian Hallmark, an experienced Bentley leader, has been appointed the new chief executive of British luxury car maker Aston Martin.The 61-year-old will start in his new role no later than October 1, the company announced on Friday. Outgoing leader Amedeo Felissa will remain in office until then.“He brings more than 25 years of highly successful automotive experience from the US, Europe and Asia with companies such as Bentley, Porsche and Volkswagen,” Aston Martin Lagonda said in a statement.Hallmark also spent seven…