Financial Times

ft.com

Public Key

npub1ey55s7y4px7nuw9qq987mhc2lm8qp30xvyrkgqk9p626n78zfcxqw0tq7p

NIP-57 Address

[email protected]

Profile Code

nprofile1qqsvj22g0z2sn0f78zsqznldmu90ansqchnxzpmyqtzsa9dflr3yurqeqrmx0

Publishing to

nos.lol

relay.damus.io

Author Public Key

npub1ey55s7y4px7nuw9qq987mhc2lm8qp30xvyrkgqk9p626n78zfcxqw0tq7p

Show more details

Last Notes

2024-06-24 00:43:55

- reply

#note1hpz…92jr

2024-06-24 00:43:43

FirstFT: Advertisers prep plan-B, should TikTok be banned in US
==========
Advertisers are preparing contingency plans in case TikTok is banned in the US. The popular video-sharing app, owned by Chinese company ByteDance, is facing scrutiny from the Trump administration over concerns about data privacy and national security. Advertisers are concerned about losing access to TikTok's large and engaged user base, and are considering shifting their advertising budgets to other platforms such as Instagram and Snapchat. TikTok has been downloaded over 2 billion times globally and has around 100 million users in the US. The Trump administration has given TikTok until September 15 to sell its US operations to an American company or face a ban.
#Tiktok #Advertising #UschinaRelations
https://www.ft.com/content/c137d70c-3259-43b9-96bf-d7332467c381

2024-06-21 04:06:15

Philippines secretly reinforces ship at centre of South China Sea dispute
==========
The Philippines has secretly reinforced a ship at the centre of the South China Sea dispute; The ship, BRP Sierra Madre, is a dilapidated World War II-era vessel that the Philippines intentionally ran aground in 1999 to assert its territorial claim in the disputed region; The reinforcement of the ship is seen as a move by the Philippines to strengthen its presence in the South China Sea amid tensions with China; The Philippines has been involved in a long-standing territorial dispute with China over the South China Sea; The reinforcement of the ship comes as China continues to assert its dominance in the region by building military installations on disputed islands and reefs; The Philippines' move to reinforce the ship is likely to further escalate tensions between the two countries.
https://www.ft.com/content/2d5751da-9588-406a-b5db-39b7911a429d

2024-06-18 01:39:18

- reply

#note1xm3…r7fj

2024-06-18 01:39:06

Live news: Philadelphia Fed president Patrick Harker expects one rate cut this year
==========
Philadelphia Fed president Patrick Harker expects one rate cut this year. Harker's statement comes amidst discussions about the possibility of the Federal Reserve reducing interest rates. The rate cut is expected to happen sometime this year. Harker's comments align with the views of other Fed officials who have expressed concerns about the economic impact of the COVID-19 pandemic. The article also mentions other news topics such as the Israel-Hamas war, Pakistan's record rice exports, Russia surpassing the US as a gas supplier to Europe, and Benjamin Netanyahu dissolving Israel's war cabinet.
https://www.ft.com/content/a99c9f56-8618-4d32-959e-a663abe6c26d

2024-06-17 20:10:28

- reply

#note1frg…zesv

2024-06-17 20:10:17

IMF warns of massive labour disruption from AI
==========
The International Monetary Fund (IMF) has issued a warning about the potential for massive labour disruption caused by artificial intelligence (AI). The IMF predicts that AI could lead to significant job displacement, particularly in low-skilled and routine tasks. The report suggests that policymakers should focus on supporting workers through retraining and social safety nets to mitigate the negative impacts of AI on employment. The IMF also emphasizes the need for international cooperation to address the challenges posed by AI. The warning comes as AI technology continues to advance rapidly and is increasingly being adopted across various industries.
https://www.ft.com/content/3d7d48c1-21a6-43dd-b077-1aafe0ca00e2

2024-06-13 08:30:33

- reply

#note19h9…4dch

2024-06-13 08:30:21

FTAV’s further reading
==========
The article provides a list of further reading recommendations from FTAV, covering a range of topics including the Israel-Hamas war, the world oil glut, US inflation, far-right politics in France, leadership changes at PwC and EY, Carlos Slim's stake in BT, Toyota's supply chain challenges with electric vehicles, and Legal & General's overhaul. The article also mentions the appeal of an American Caesar, the last best hope against populism, the impact of tariffs, silent lay-offs, virtual offices, and an insider's account of the AfD. Additionally, it highlights Ridley Scott's Provençal estate, the popularity of the Paloma drink, gamers sticking to old favorites, and dressing for the races at Ascot. The article concludes with subscription options for accessing FT journalism.
https://www.ft.com/content/486ee0f8-7012-41b0-9b5a-795c4f47bb3a

2024-06-11 19:19:34

- reply

#note1nkg…sg97

2024-06-11 19:19:22

Donald Trump and Joe Biden campaigns set for duelling London fundraisers
==========
The campaigns of Donald Trump and Joe Biden are both planning fundraisers in London. Trump's campaign is organizing a black-tie dinner on December 1, 2024, with tickets priced at $10,000 per person. Biden's campaign is planning a separate event on the same day, with tickets priced at $5,000 per person. The duelling fundraisers reflect the importance of London as a fundraising hub for US presidential candidates. Both campaigns are targeting American expatriates and wealthy donors based in the UK. The events are expected to attract high-profile attendees and raise significant funds for the respective campaigns.
https://www.ft.com/content/966dc3d0-ff93-457c-935b-c4949ec52636

2024-06-11 18:37:27

- reply

#note1rjw…34dp

2024-06-11 18:37:15

Hunter Biden convicted on criminal gun charges in US trial
==========
Hunter Biden has been convicted on criminal gun charges in a US trial. The trial concluded with the jury finding Biden guilty of false statement on a firearms application and possession of a firearm by an unlawful user of a controlled substance. The charges stem from an incident in which Biden allegedly lied on a background check form when purchasing a firearm and later discarded the firearm in a trash can near a school. The trial lasted for several days and included testimony from witnesses and evidence presented by the prosecution. Biden's defense argued that he did not intentionally lie on the form and that he was not aware of the firearm's location near the school. The conviction carries a potential sentence of up to 10 years in prison. The sentencing hearing is scheduled for a later date.
https://www.ft.com/content/03758e7c-8157-4c8f-b7c7-896470154fa9

2024-06-11 09:33:46

- reply

#note1g0u…gmu9

2024-06-11 09:33:35

Live news: Raspberry Pi valued at £540mn ahead of London listing
==========
Raspberry Pi, a British computer hardware and software company, is valued at £540mn ahead of its London listing. The company, known for its affordable single-board computers, plans to go public on the London Stock Exchange. The valuation of £540mn is based on the company's latest funding round in which it raised £38mn. Raspberry Pi's products are widely used in education, hobbyist projects, and industrial applications. The company's listing on the London Stock Exchange is expected to provide it with additional capital for expansion and development.
https://www.ft.com/content/ec1704db-7d44-4909-8514-65175d8b445f

2024-06-07 08:24:38

- reply

#note13uj…uan3

2024-06-07 08:24:26

China’s exports surge in May
==========
China's exports surged in May, indicating a strong recovery in global demand. The country's exports increased by 27.9% compared to the same period last year, beating expectations. The growth was driven by strong demand for Chinese goods in the US and Europe. Imports also rose by 51.1%, reflecting increased domestic consumption and higher commodity prices. The trade surplus for May stood at $45.53 billion. This surge in exports is a positive sign for China's economy and suggests a rebound from the impact of the COVID-19 pandemic.
#China #Exports #GlobalDemand #EconomicRecovery
https://www.ft.com/content/1d236b46-1a65-48b7-b3d6-faa0849d3d3f

2024-06-05 17:47:45

US and allies say China is ‘aggressively recruiting’ their fighter pilots
==========
The US and its allies have accused China of aggressively recruiting their fighter pilots. The allegations come as tensions between China and the US continue to rise. The US has accused China of engaging in cyberattacks, intellectual property theft, and human rights abuses. China has denied the allegations and called them baseless. The US and its allies are concerned about China's growing military capabilities and its assertive behavior in the South China Sea. The US has been increasing its military presence in the region to counter China's influence. The recruitment of fighter pilots is seen as part of China's efforts to strengthen its military and challenge US dominance.
#China #Us #FighterPilots #Military #Tensions
https://www.ft.com/content/a080852e-df0b-4959-a1d4-45a30d99f0e9

2024-06-04 02:53:49

- reply

#note1rhn…ua2c

2024-06-04 02:53:37

China’s expat gap problem
==========
China is facing a problem with a shortage of expatriate workers; The shortage is due to the COVID-19 pandemic and travel restrictions; The lack of expat workers is affecting various industries, including technology and finance; Chinese companies are struggling to fill the gap with local talent; The shortage of expat workers is expected to continue until travel restrictions are lifted.
https://www.ft.com/content/dfd5c399-976f-4f0b-8a1b-fbac495100b6

2024-06-02 11:25:31

- reply

#note1lwm…9lpj

2024-06-02 11:25:20

Monetary Policy Radar | Financial Times
==========
The article discusses various topics including the Israel-Hamas war, the Indian election, the Trump campaign's fundraising, the ANC's coalition options in South Africa, the downgrade to French credit rating, the UK ambassador to Mexico being sacked, Baillie Gifford's crisis talks with UK book festivals, Labour infighting overshadowing Starmer, Nick Clegg bankrolling the Lib Dem fightback, Labour's energy plan for Scotland, Goldman considering internal bounties for wealth management, the Anglo chief admitting selling De Beers is a challenge, Peter Hargreaves blaming former management for Hargreaves Lansdown share slump, the collapse of the deal to buy Everton Football Club, hackers offering to sell stolen Santander customer and staff details, Nvidia's market cap jumping amid a 'gamma squeeze', Liz Truss's impact on markets, the potential to buy Japan, warnings of frothy markets in US penny stock trading, joining the party in copper, Germany's fractious coalition, the Whitby Woman as a target voter, the need for a new intergenerational contract, avoiding being a voice note bore, the harm caused by the Baillie Gifford boycott, Europe's start-up hubs, Illycaffè's Cristina Scocchia, night nannies as a work perk, employers facing a rising climate conundrum, Steven Chu's criticism of Wall Street analysts on climate, the shock of the old, life after manufacturing in Janesville, the great hospitality gripe list, the role of a lifetime for the great living Lears, the search for the best summer dress, US resilience requiring high rates for an extended period according to the Minneapolis Fed president, and Neel Kashkari warning of elevated housing inflation and still-strong labor demand pushing back easing.
https://www.ft.com/content/997a88f9-dddc-48b3-9025-b17becbcfa9e

2024-05-29 17:49:43

- reply

#note1cx9…k30w

2024-05-29 17:49:32

Macron and Scholz: we must strengthen European sovereignty
==========
French President Emmanuel Macron and German Finance Minister Olaf Scholz have called for the strengthening of European sovereignty. They argue that Europe needs to be more independent and less reliant on the United States and China. Macron and Scholz believe that Europe should have its own digital infrastructure, military capabilities, and economic policies. They also emphasize the importance of European unity and cooperation in addressing global challenges. The leaders made these remarks during a joint press conference in Paris. The call for European sovereignty comes amid increasing geopolitical tensions and the need for Europe to assert itself on the global stage.
https://www.ft.com/content/853f0ba0-c6f8-4dd4-a599-6fc5a142e879?shareType=nongift

2024-05-29 07:26:38

- reply

#note1036…snx6

2024-05-29 07:26:27

FirstFT: Russia sanctions ‘not really effective’ outside west, says Dubai trade hub chief
==========
The Dubai trade hub chief has stated that the sanctions imposed on Russia are not really effective outside of the West. The statement comes as Western businesses backtrack on their plans to exit Russia. The article also mentions the Israeli-Hamas war, Donald Trump's trial, Xi Jinping's call for quality jobs for youth, Toyota's challenge to Tesla with a new line of combustion engines, and Nick Train's apology for poor investment performance.
https://www.ft.com/content/5bd99fd8-9d1f-495f-8b5d-caf85dc988ac

2024-05-28 03:00:15

- reply

#note1urm…wgul

2024-05-28 03:00:04

Letter: ‘Second-lifers’ make a valuable contribution to the economy
==========
The article discusses the economic contributions of older individuals, referred to as 'second-lifers', to the economy. The author argues that these individuals, who are often retired or semi-retired, bring valuable skills, experience, and knowledge to the workforce. They contribute to economic growth, innovation, and productivity through entrepreneurship, mentorship, and volunteering. The author suggests that policies should be implemented to support and encourage the participation of 'second-lifers' in the economy. The article emphasizes the importance of recognizing and valuing the contributions of older individuals in society.
https://www.ft.com/content/1090e3b6-ce90-487b-bfe2-a6395a5c5e35

2024-05-28 00:57:14

- reply

#note1ynq…wfsj

2024-05-28 00:57:03

FirstFT: Lai Ching-te asks US lawmakers to help strengthen Taiwan’s defences
==========
Lai Ching-te, the former Taiwanese premier, has called on US lawmakers to help strengthen Taiwan's defences against China. Lai, who is visiting the US, urged Congress to pass legislation that would enhance Taiwan's military capabilities and deter Chinese aggression. He also emphasized the importance of maintaining peace and stability in the Taiwan Strait. Lai's visit comes amid increased tensions between Taiwan and China, with Beijing conducting military exercises near the island and increasing diplomatic pressure on countries to isolate Taiwan.
https://www.ft.com/content/033eaaa7-bec5-481d-b471-a7165bf74a19

2024-05-27 23:35:48

- reply

#note1n9q…7z0p

2024-05-27 23:35:36

Jet-setting Argentine President Javier Milei courts top US tech CEOs
==========
Argentine President Javier Milei is actively seeking meetings with top US tech CEOs to attract investment and promote economic growth in Argentina. Milei's goal is to position Argentina as a favorable destination for tech companies and startups, highlighting the country's skilled workforce and potential for innovation. He has already met with several CEOs, including those from Google, Facebook, and Amazon, to discuss investment opportunities and partnerships. Milei's efforts align with his broader economic agenda of liberalizing the Argentine economy and attracting foreign investment. He believes that by fostering a business-friendly environment and leveraging the country's technological capabilities, Argentina can become a major player in the global tech industry. However, some critics argue that Milei's focus on courting tech CEOs overlooks other pressing issues in Argentina, such as poverty and inequality.
https://www.ft.com/content/4ab30d78-aafc-47cc-8a4b-17f9a6f43bed

2024-05-23 11:20:42

- reply

#note1h3z…wa76

2024-05-23 11:20:30

UK election latest: Nigel Farage decides not to stand
==========
Nigel Farage has announced that he will not be standing in the upcoming UK election. Farage, the leader of the Brexit Party, stated that he believes his party's goal of leaving the EU has been achieved and that he wants to focus on campaigning for a clean break from the EU. The decision comes after Farage previously stated that he would stand as a candidate in the election. The UK election is scheduled to take place on [date].
https://www.ft.com/content/c1977e82-9bed-4d5a-9f4c-2ded042c2ba5

2024-05-22 02:55:26

Live news: US stocks hit record high as volatility hovers near pre-pandemic low
==========
US stocks hit a record high as volatility remains low. The Biden administration signals support for sanctions on the International Criminal Court (ICC). Donald Trump will not testify in the 'hush money' trial. Janet Yellen urges Europe to join the US in cracking down on Chinese exports. One person dies and dozens are injured after a flight from London to Singapore experiences turbulence. A top dealmaker is set to leave law firm Skadden Arps. Ivan Boesky, a convicted trader, passes away. Jamie Dimon says JPMorgan will choose a new CEO within 5 years. An activist investor builds a stake in Reckitt after a baby formula verdict. Toll Brothers raises its full-year outlook due to tight home inventory. Vanguard makes a surprising move in asset management. China is hesitant to make necessary shifts. The ICC's arrest warrants spark strong reactions from Israel and the White House. Netanyahu and Khamenei face increasing pressure. Visa rules impact foreign graduate recruitment. Apple's dominance is crushing. The FT offers subscription options for access to its content.
https://www.ft.com/content/b4fa017b-539b-4533-96dc-10d12aa43be9

2024-05-21 21:16:27

- reply

#note1law…0p49

2024-05-21 21:16:16

Why economist forecasts of a US recession were so wrong
==========
Economist forecasts of a US recession were proven wrong due to several factors. One key factor was the difficulty in accurately predicting economic downturns. The article highlights that economists often rely on historical data and models that may not fully capture the complexity and unpredictability of the economy. Additionally, the article mentions that economists may have underestimated the resilience of the US economy and the effectiveness of government interventions. The timing of the forecasts is not specified in the article. The author of the article is not mentioned. The article is from the Financial Times and is written in English.
https://www.ft.com/content/9d96e0e1-0067-4a37-abcf-3f288116e04c

2024-05-20 02:25:50

- reply

#note1ulf…lmlx

2024-05-20 02:25:38

Geography class: Big rise in diseases linked to ageing and lifestyle increases healthcare burden
==========
The article discusses the increase in diseases linked to ageing and lifestyle, which is leading to a greater healthcare burden. It highlights the shift from communicable to non-communicable diseases as a major cause of death in the last 25 years. The forecast shows a significant increase in disability-adjusted life years (DALYs) by cause from 2022 to 2050. The greatest declines in disease burden have been observed in high-income regions, while low-income regions continue to face significant challenges. The article is part of the Financial Times free schools access programme.
#Healthcare #Diseases #Ageing #Lifestyle #CommunicableDiseases #NoncommunicableDiseases
https://www.ft.com/content/da38999c-a0cc-4c8c-810a-d717c2bce10b

2024-05-18 06:56:36

- reply

#note1s6k…as4c

2024-05-18 06:56:24

Swamp Notes — Trading tariffs for votes
==========
President Joe Biden announced massive hikes in tariffs on a range of clean energy imports from China, including electric vehicles (EVs), chips, steel, and aluminium. The tariffs are aimed at protecting the US EV industry from cheaper Chinese imports and supporting domestic job growth. However, critics argue that the tariffs will raise costs for consumers, slow down the decarbonization of the US economy, and delay the affordability of EVs for average wage earners. The move is seen as a political strategy by Biden to gain backing from unions and voters in swing states ahead of the 2024 election. The impact of the tariffs is not expected to be felt before the election, but the signaling matters more than the reality. The tariffs also neutralize one of former President Donald Trump's advantages, which was his protectionist stance against China.
#UschinaTrade #Tariffs #ElectricVehicles #JoeBiden #DonaldTrump #UsPresidentialElection
https://www.ft.com/content/cee94f47-5710-44e5-a857-39e470fce1c3

2024-05-17 01:11:25

- reply

#note12ww…23q5

2024-05-17 01:11:13

FirstFT: China trade experts urge Xi Jinping to respond with caution to US tariffs
==========
China trade experts are urging Chinese President Xi Jinping to respond with caution to US tariffs. The experts warn that a strong retaliatory response could escalate tensions and harm China's economy. They suggest that China should focus on domestic economic reforms and seek to resolve trade disputes through negotiation and dialogue. The US tariffs, which were imposed by the Trump administration, have been a major point of contention between the two countries. China has already imposed retaliatory tariffs on US goods, and there are concerns that the trade dispute could escalate further. The experts argue that a measured and strategic approach is needed to protect China's interests and maintain stability in the global economy.
https://www.ft.com/content/f860d5fb-5073-4b2d-9700-1fc9f062f7e4

2024-05-15 13:01:42

- reply

#note1ljx…ejxm

2024-05-15 13:01:31

FirstFT: US urges Arab states to join peacekeeping force in postwar Gaza
==========
The US is urging Arab states to join a multinational peacekeeping force in postwar Gaza. The move comes as the conflict between Israel and Hamas continues to escalate. The US hopes that the involvement of Arab states in the peacekeeping force will help stabilize the situation and prevent further violence. The US is also sharply raising tariffs on Chinese electric vehicles and semiconductor imports. The increase in tariffs is part of the ongoing trade tensions between the US and China. In addition, Berlin is exploring tax breaks to incentivize Germans to work longer hours. The German government hopes that this measure will help address the country's labor shortage. Meanwhile, Vladimir Putin is revamping Russia's military capabilities. The Russian president is investing in modernizing and strengthening Russia's armed forces. Finally, Trump allies are rallying around him as Michael Cohen prepares to testify about 'hush money' payments.
#Us #ArabStates #PeacekeepingForce #Gaza #Israel #Hamas #Tariffs #China #ElectricVehicles #SemiconductorImports #Berlin #TaxBreaks #Germans #WorkLongerHours #VladimirPutin #Russia #Military #TrumpAllies #MichaelCohen
https://www.ft.com/content/63b9a544-4de1-4550-9e0f-184ff28b75c8

2024-05-13 20:09:08

- reply

#note1vj5…8jp3

2024-05-13 20:08:56

US ups the ante on Chinese EV imports
==========
The US is increasing pressure on Chinese electric vehicle (EV) imports. The Biden administration is considering imposing stricter regulations on EVs imported from China, including potential tariffs and stricter safety standards. The move comes as the US seeks to boost its domestic EV industry and reduce its dependence on Chinese imports. The US is also concerned about the security risks associated with Chinese-made EVs, particularly in relation to data privacy and potential cyber threats. The proposed measures could have significant implications for the global EV market and the US-China trade relationship.
#UschinaTrade #ElectricVehicles #BidenAdministration #Tariffs #SafetyStandards #DataPrivacy #CyberThreats
https://www.ft.com/content/71ae81e6-e133-4eac-97b9-d9aa27ae21d6

2024-05-13 06:56:05

- reply

#note1plr…jh5s

2024-05-13 06:55:54

FT-Michigan Ross poll: Biden’s election hopes fall as prices rise again
==========
Support for Joe Biden’s economic policies wanes amid inflation fears, FT poll finds
https://www.ft.com/content/ee56a06d-c734-4fec-96fe-c53db3131255

2024-05-09 13:00:29

Are US and euro inflation pressures parting ways?
==========
Inflation pressures in the US and the eurozone may be diverging. The US Federal Reserve is considering tapering its bond-buying program due to concerns about rising inflation, while the European Central Bank is expected to maintain its accommodative monetary policy. The US has seen higher inflation rates, with consumer prices rising 4.2% in April, the highest level in over a decade. In contrast, the eurozone has experienced lower inflation, with consumer prices increasing by 1.6% in April. The differing inflation pressures could impact the timing and pace of monetary policy adjustments in the two regions.
https://www.ft.com/content/036641a4-ef3e-4b51-bc9c-d1c60e23720d

2024-05-06 22:56:35

Global trade growth set to more than double this year
==========
Global trade growth is expected to more than double this year, according to a report. The increase in trade is driven by the recovery from the COVID-19 pandemic and the easing of trade tensions between major economies. The report predicts that global trade will grow by 8.4% in 2021, up from a previous forecast of 4.1%. This growth is attributed to strong demand for goods, particularly in advanced economies. However, the report also highlights risks to trade growth, including the ongoing pandemic and potential disruptions to global supply chains.
https://www.ft.com/content/3451ba03-28fc-4300-8813-af66bb743bf4

2024-05-06 08:22:34

A cooler jobs market may not be enough
==========
The article discusses the potential challenges of a cooler jobs market and its impact on the economy. It highlights that while a cooler jobs market may help to alleviate inflationary pressures, it may not be enough to address other economic issues. The article mentions that the US Federal Reserve is closely monitoring the labor market and its impact on inflation. It also mentions that the Biden administration is pushing for additional fiscal stimulus to support the economy. The article suggests that a comprehensive approach that includes both monetary and fiscal measures may be necessary to address the economic challenges.
https://www.ft.com/content/5be904bf-e1ef-410e-90e7-f361e06fa5ba

2024-05-03 20:12:05

- reply

#note1fzh…5wdj

2024-05-03 20:11:52

Jobs growth in the US economy slows
==========
The US economy experienced slower jobs growth than expected, with only 175,000 new jobs created. Turkey has halted trade with Israel due to the Gaza conflict. Italy has been granted the ability to seize an ancient statue in the US by a European court. Joe Biden has denounced violent campus protests after police stormed UCLA. Births in Germany have fallen to the lowest level in a decade. Gazprom has reported its worst loss in decades as sales to Europe collapse. A SocGen trader who was fired for 'unauthorised' bets blames the risk team and bosses. The SEC has shut down the auditor for Trump Media due to 'massive fraud'. Goldman Sachs has scrapped the bonus cap for UK bankers. Berkshire is facing risks after Warren Buffett's departure. Remote work is being questioned for its impact on women. Russia's new economy may prolong its war. Japan is concerned about returning to emerging-economy status. The article discusses how to differentiate good industrial policy from bad. The strange new economy of all-you-can-eat buffets is explored. Taiwan is engaged in a widespread conflict. Former Supreme Court justice Stephen Breyer believes there are two Donald Trumps. The lesson of Loki is to trade less. Foreign buyers are interested in Sweden's secluded island sanctuaries.
https://www.ft.com/content/e2e2b0ba-a809-410c-8f79-0281d55926f5

2024-05-02 13:30:06

FirstFT: Fed to leave rates higher for even longer
==========
Federal Reserve chair Jay Powell signals interest rates will remain higher for longer
https://www.ft.com/content/281e7038-ede7-4034-bed2-53221fb3ecf6

2024-04-30 09:18:34

French economy expands faster than expected in first quarter
==========
The French economy expanded faster than expected in the first quarter of the year. The country's GDP grew by 0.4% in the first three months of 2022, exceeding the forecasted growth of 0.3%. This growth was driven by increased consumer spending and a rebound in business investment. The French government expects the economy to continue to recover throughout the year, with GDP growth projected at 5.5% for 2022. However, there are concerns about rising inflation and the impact of the COVID-19 pandemic on the economy.
https://www.ft.com/content/a53166a5-8c62-43be-9ec7-6e95d0fc4338

2024-04-29 06:25:43

- reply

#note1qae…am4l

2024-04-29 06:25:32

A disappearance in Xinjiang
==========
The article discusses the disappearance of a Uighur woman named Gulbahar Jelilova in Xinjiang, China. Jelilova was detained by Chinese authorities in 2017 and held in a detention center where she was subjected to torture and abuse. She was released in 2019 and managed to escape to Kazakhstan. Jelilova's case highlights the human rights abuses and mass detention of Uighurs in Xinjiang. The Chinese government has been accused of carrying out a campaign of cultural assimilation and forced labor against the Uighur population. The international community has called for an investigation into the situation in Xinjiang and for China to be held accountable for its actions.
https://www.ft.com/content/ca036415-7ded-4384-ac2d-33825f1a82c3?sharetype=blocked

2024-04-29 05:38:26

- reply

#note1p0j…zjzz

2024-04-29 05:38:14

Live news: Yen plunges past ¥160 per dollar amid volatile trading on national holiday
==========
The yen has dropped below ¥160 per dollar in volatile trading on a national holiday. The plunge comes as investors react to the ongoing Israel-Hamas war, tensions between the US and China, and Russian GPS jamming that threatens air safety. Dutch efforts to kick-start European carbon capture initiatives are underway, while Elon Musk meets with China's premier to discuss Tesla's competition with local rivals. Paramount is expected to fire CEO Bob Bakish after a clash with Shari Redstone. Turkish officials are in talks with ExxonMobil over a multibillion-dollar LNG deal. Chinese regulators warn against a Silicon Valley Bank-style meltdown. The ban on non-compete agreements is causing shockwaves across Wall Street. Voyager 1 has come back online after being dormant. The yen's plunge is occurring on a national holiday.
https://www.ft.com/content/d4570074-7c69-4d8c-9abe-022a55d7876c

2024-04-23 21:06:58

Jamie Dimon cautions over soft landing for ‘unbelievable’ US economy
==========
Jamie Dimon, CEO of JPMorgan Chase, warns of potential risks to the US economy despite its current strength. Dimon cautions that the economy's growth may not be sustainable and that a soft landing is unlikely. He points to factors such as inflation, rising interest rates, and geopolitical tensions as potential threats. Dimon also expresses concern about the impact of the COVID-19 pandemic on the economy and the potential for a market correction. Despite these concerns, Dimon remains optimistic about the long-term prospects of the US economy.
https://www.ft.com/content/8ab4520e-691a-4ff7-9c51-e59a9c0d742c

2024-04-23 20:39:11

2024-04-23 06:59:43

Investors price in growing chance of another Federal Reserve interest rate rise
==========
Traders have built up bets that the Federal Reserve could raise interest rates again, a once-unthinkable prospect that highlights a shift in market expectations after stronger than expected US economic data and hawkish comments from policymakers. Options markets now suggest a roughly one in five chance of a US rate increase within the next 12 months, up sharply from the start of the year. Traders’ central expectation is for one or two rate cuts of a quarter of a percentage point each this year, down from six or seven in January. Economists expect core personal consumption expenditures will come in at 2.7 per cent when data for March are released on Friday. Options pricing reflects a roughly 20 per cent chance of a rate rise this year. However, while investors are using options to hedge against — or profit from — the possibility of rate rises, a swift series of cuts also remains a possibility.
#FederalReserve #InterestRates #UsEconomy #UsInflation #OptionsMarket
https://www.ft.com/content/8c5da64b-766e-4993-86f5-aac95342432a

2024-04-23 06:45:38

2024-04-23 06:40:11

2024-04-21 20:05:30

Opening arguments begin in Trump trial and Musk meets Modi
==========
Opening arguments have begun in the trial of former US President Donald Trump, who is charged with incitement of insurrection for his role in the January 6th Capitol riot. The trial is taking place in the Senate, with House impeachment managers presenting their case against Trump. Meanwhile, Tesla CEO Elon Musk has met with Indian Prime Minister Narendra Modi to discuss Tesla's plans to enter the Indian market. Musk expressed his enthusiasm for the Indian market and discussed the potential for Tesla to manufacture electric vehicles in India.
https://www.ft.com/content/a75340b6-c8db-4be7-aa80-80472ca2b110

2024-04-21 14:26:39

Europe still fails to make enough of its size — here’s how to fix that
==========
Europe still fails to leverage its size effectively. The article discusses the need for Europe to take advantage of its economic potential and outlines several strategies to achieve this. The author emphasizes the importance of investing in innovation, technology, and infrastructure to foster economic growth. They also highlight the need for regulatory reforms and the removal of barriers to trade and entrepreneurship. Additionally, the article suggests that Europe should focus on developing its digital economy and promoting cross-border collaboration. The author argues that by implementing these measures, Europe can unlock its full economic potential and become a global leader.
https://www.ft.com/content/f6200dc5-e42b-4356-9951-70ca3a94cd0a

2024-04-21 12:21:26

Joe Biden’s energy policies are fuelling Donald Trump’s campaign in Pennsylvania
==========
Joe Biden's energy policies are becoming a focal point of Donald Trump's campaign in Pennsylvania. Trump is criticizing Biden's stance on fracking and the Green New Deal, claiming that they will lead to job losses in the state. Biden has stated that he does not support a nationwide ban on fracking, but Trump and his supporters argue that his policies will still have a negative impact on the industry. Pennsylvania is a key battleground state in the upcoming presidential election, and energy policy is a major issue for voters in the state. Trump is using Biden's energy policies to appeal to voters in Pennsylvania and highlight what he sees as a threat to jobs and the economy.
https://www.ft.com/content/72c7e548-fc96-4e32-8f87-a36f274b1aab

2024-04-20 13:59:46

Investors raise bets on euro falling to parity with dollar
==========
Investors are increasing their bets on the euro falling to parity with the dollar. The euro has been weakening against the dollar, and investors are taking advantage of this trend by placing more bets on the euro's decline. This comes as the dollar has been strengthening due to expectations of higher interest rates in the US. The euro has also been weighed down by concerns over the economic impact of the Omicron variant. Some investors believe that the euro could reach parity with the dollar in the near future.
https://www.ft.com/content/700f0282-e939-4441-8093-6e012c39f4bd

2024-04-20 13:59:02

US seeks alliance with Abu Dhabi on artificial intelligence
==========
The US is seeking an alliance with Abu Dhabi on artificial intelligence. The move comes as part of the US government's efforts to counter China's influence in the field of AI. The US is concerned about China's rapid advancements in AI technology and its potential military applications. Abu Dhabi is seen as a key partner due to its investments in AI research and development. The alliance would involve collaboration on AI research, development, and standards, as well as sharing of data and expertise. The US hopes that such an alliance would help maintain its technological edge and ensure that AI is used in a responsible and ethical manner.
https://www.ft.com/content/843796a6-191c-4828-8bc9-d6648e4b460e

2024-04-20 11:32:34

Relief pervades Tehran after limited Israeli strike
==========
Tehran is experiencing relief after a limited Israeli strike. The strike was a calibrated retaliatory action by Israel against Iran. The situation between Israel and Iran had escalated but both countries have now pulled back from the brink. The article discusses the relief felt in Tehran and the de-escalation of tensions between Israel and Iran.
https://www.ft.com/content/b0ff931b-ca5e-40ac-9ca0-f007465967ad

2024-04-20 06:52:23

OJ Simpson and the paradox of American power
==========
The article discusses the paradox of American power through the lens of OJ Simpson's trial and its cultural impact. It explores how Simpson's case highlighted racial tensions, media sensationalism, and the influence of celebrity in the American justice system. The article also examines the broader implications of the trial on American society and the perception of American power globally. It argues that the Simpson trial revealed the contradictions and complexities of American power, showcasing both its strengths and weaknesses.
https://www.ft.com/content/bee38713-0dfc-4a50-8cdc-54857dbb09ed

2024-04-20 06:51:39

Swamp Notes — How do you win Pennsylvania?
==========
Pennsylvania is a critical swing state in US elections, with 19 electoral college votes. Both Joe Biden and Donald Trump are focused on winning over key demographics in the state, such as blue-collar workers and voters in major metropolitan areas like Philadelphia and Pittsburgh. Biden is targeting these voters with messages about tax policy and protecting working-class families, while Trump is focusing on energy and natural gas production. The state's diverse population and key industries make it a microcosm of the country, providing insights into the challenges faced by both candidates nationwide. The proposed renaming of Dulles Airport after Donald Trump is seen as a bad move that could associate his name with a poorly regarded airport.
#Pennsylvania #UsElections #JoeBiden #DonaldTrump #SwingState #BluecollarWorkers #MetropolitanAreas #Philadelphia #Pittsburgh #TaxPolicy #WorkingclassFamilies #Energy #NaturalGasProduction #DullesAirport #Renaming
https://www.ft.com/content/30ed95eb-d311-488e-9fa2-a812fb16a487

2024-04-19 16:53:24

Subsidy race with US and China would harm Europe’s ailing economy, IMF warns
==========
The International Monetary Fund (IMF) has warned that a subsidy race between the US and China would harm Europe's struggling economy. The IMF stated that the competition between the two superpowers to provide subsidies to their domestic industries could lead to distortions in global trade and investment flows. The IMF urged European policymakers to take action to protect their economies and ensure fair competition. The warning comes as Europe continues to grapple with the economic fallout from the COVID-19 pandemic.
https://www.ft.com/content/0ee289a9-8414-40bb-ac3b-ab6f04bd1f4f

2024-04-18 01:37:48

US stocks notch first 4-day losing streak since start of January
==========
US stocks have experienced their first four-day losing streak since the beginning of January. This comes as small stocks face significant challenges, and high-speed trader Jane Street generated $4.4 billion at the start of 2024. The Vix 'fear gauge' has soared due to tensions in the Middle East and a shift in interest rates. The global economy is being impacted by the shadow of war. US stocks are experiencing a downturn, and the US deficit poses significant risks to the global economy, according to the IMF. Donald Trump is falling $75 million behind Joe Biden in the money race as his donor base shrinks. Jay Powell, the chair of the Federal Reserve, has stated that US inflation is taking longer than expected to hit its target. Royal Mail's owner has rejected a £4.5 billion takeover bid from Czech billionaire Daniel Křetínský. Mining billionaire Gina Rinehart is building rare-earth stakes in an effort to secure non-Chinese supply. Tesla is asking shareholders to approve a move to Texas and ratify Elon Musk's pay. Peter Mandelson's advisory firm has been valued at £30 million in a deal with an ex-Obama aide. Sex workers in the UK are denouncing banks for waging a 'war' on their jobs. US Republicans are not skilled at nationalism. Gordon Brown expresses disappointment in the backward progress the UK has made. ChatGPT essay cheats are causing problems. The rise of the chief AI officer is being observed. The FT recommends business books to read. Video games are potentially threatening the novel. US grandmaster duo surge in chess as the Candidates tournament nears its finish. Marathons have become the new 'fashion weeks' for runners. Nine brides who said yes to the very big dress. Professor Tim Spector is rethinking the way we eat.
#UsStocks #SmallStocks #HighspeedTrading #Vix #GlobalEconomy #UsDeficit #JoeBiden #DonaldTrump #JayPowell #FederalReserve #RoyalMail #DanielKřetínský #GinaRinehart #Tesla #ElonMusk #PeterMandelson #UkSexWorkers #UsRepublicans #GordonBrown #Chatgpt #ChiefAiOfficer #BusinessBooks #VideoGames #Chess #Marathons #Brides #ProfessorTimSpector
https://www.ft.com/content/d53fc2e5-66f4-476a-a4dc-4a2ddfbdee07

2024-04-17 00:42:39

FirstFT: China’s economy grew by forecast-beating 5.3% in first quarter
==========
China's economy grew by 5.3% in the first quarter, beating forecasts. The growth rate indicates a strong recovery from the impact of the COVID-19 pandemic. The data was released by China's National Bureau of Statistics. The country's industrial output also increased by 24.5% in March compared to the same period last year. China's retail sales rose by 34.2% in March, exceeding expectations. The strong economic performance is attributed to increased domestic consumption and a rebound in exports. The IMF predicts that the US will grow at double the rate of its G7 peers this year. The Biden administration is expected to unveil a $1.5 trillion infrastructure plan this week. The plan aims to boost economic growth and create jobs. The US Federal Reserve has indicated that it will maintain its accommodative monetary policy to support the economic recovery. However, concerns about inflation and rising bond yields persist. The global financial system faces overlooked threats, including cyberattacks, climate change, and geopolitical tensions. Israel is calling for tightened sanctions on Iran following an attack on an Israeli-owned ship. Israel is considering its options for a military strike against Iran. The situation poses a dilemma for the Biden administration, which is seeking to revive the Iran nuclear deal. The article is from the Financial Times.
https://www.ft.com/content/11a72bc3-75c8-44d7-87de-973b0d795a3b

2024-04-16 20:38:41

Jay Powell says US inflation ‘taking longer than expected’ to hit target
==========
Jay Powell, the chairman of the US Federal Reserve, has stated that US inflation is 'taking longer than expected' to hit the target. Powell's comments come as the US and Europe seek to dissuade Israel from striking back against Iran. The IMF predicts that the US will grow at double the rate of its G7 peers this year. Donald Trump's 'hush money' trial has seen dozens of potential jurors dismissed. Raiffeisen Bank has announced plans for growth in Russia. LVMH's succession plans are accelerating as the Arnault children step up. German watchdog finds EY's Wirecard audits grossly negligent. Lagarde says ECB will cut rates 'in short order' barring 'major shocks'. US retail sales have shaken bond and currency markets. Gold is back and has a message for us. The article also includes various other topics and sections unrelated to the main news.
https://www.ft.com/content/3d0ddbe1-4637-4262-ba40-934015606166

2024-04-16 18:34:11

The shadow of war darkens on the global economy
==========
The global economy is facing the darkening shadow of war as tensions rise in the Middle East. The US and Europe are seeking to dissuade Israel from striking back against Iran after an attack on Israel. Israel is calling for tightened sanctions on Iran as the government debates its response to the attack. Meanwhile, China's economic growth has hit 5.3%. In other news, dozens of potential jurors have been dismissed from Donald Trump's 'hush money' trial, and Raiffeisen Bank is promoting its growth plans in Russia through job ads. Tesla is planning to cut 10% of its global workforce. The article also mentions the overlooked threats to the global financial system, blowout US retail sales shaking bond and currency markets, and the fall of US housing starts to a 7-month low. The Biden administration is facing a dilemma on Israel, and there are concerns about a dangerous turning point in the Middle East. Gordon Brown expresses concern about the state of the world, and there is a rise in the role of chief AI officers in companies. The article also discusses the issue of essay cheats using ChatGPT and the importance of starting executive careers in parish councils. Finally, the article mentions the availability of business books to read and highlights various topics in the arts and culture section.
https://www.ft.com/content/31158ec7-433b-4c0e-9f2e-8a13e8dd4750

2024-04-16 15:46:48

US to grow at double the rate of G7 peers this year, says IMF
==========
The International Monetary Fund (IMF) predicts that the US will grow at double the rate of its G7 peers this year. The IMF forecasts a growth rate of 7% for the US, compared to an average of 3.6% for the G7 countries. This projection reflects the strong recovery of the US economy from the COVID-19 pandemic, driven by fiscal stimulus measures and successful vaccination efforts. The IMF also expects China's economic growth to reach 5.3% this year. The article highlights the potential impact of the US growth on global financial markets, including bond and currency markets. It also mentions other news topics such as the Israel-Hamas war, Donald Trump's 'hush money' trial, and Tesla's plan to cut 10% of its global workforce.
https://www.ft.com/content/3b819571-662d-4185-9ca5-c7e682b55700

2024-04-16 06:56:07

The overlooked threats to the global financial system
==========
Since the financial crisis of 2007-08, regulators have attempted to de-risk the global financial system, but instability and flawed risk management persist. Recent episodes of turbulence in the US Treasury market and the UK government bond market highlight the vulnerabilities of the system. The rise of non-bank financial institutions, such as hedge funds and money market funds, has increased the opacity and risk in the financial system. The decline in public equity and the surge in private markets have also changed the structure of the financial system. The growing dependence on debt to drive economic growth, both domestically and internationally, raises concerns about debt sustainability. The accumulation of debt used to finance consumption depresses aggregate demand and hampers economic growth. The reliance on constant debt issuance to generate demand makes the economy susceptible to disruptions in financial markets. The notion of sovereign bonds as "safe" assets is challenged by rising default risk, fiscal profligacy, and high volatility. The US, as the provider of "safe" assets and the manager of the world's pre-eminent reserve currency, faces challenges in sustaining its financial hegemony. The financial system continues to act as a temporary solution to address imbalances and crises, as short-term fiscal and monetary remedies are applied instead of structural reforms.
#GlobalFinancialSystem #Debt #RiskManagement #NonbankFinancialInstitutions #PrivateMarkets #PublicEquity #SovereignBonds #UsTreasuryMarket #UkGovernmentBondMarket
https://www.ft.com/content/0b78c68b-c65c-4080-b779-17041c290eaa

2024-04-15 20:22:16

‘Blowout’ US retail sales shake bond and currency markets
==========
US retail sales have had a significant impact on bond and currency markets. The blowout sales figures have caused concern among investors, leading to a sell-off in bonds and a strengthening of the US dollar. The retail sales data showed a 9.8% increase in March, far surpassing expectations. This surge in consumer spending has raised concerns about inflation and the potential for the Federal Reserve to tighten monetary policy sooner than expected. The impact of these retail sales on the bond and currency markets highlights the importance of economic data in shaping market sentiment.
https://www.ft.com/content/c2879370-192c-438b-ba01-7a99788f459a

2024-04-15 19:52:17

Policymakers gather in Washington as Middle East tensions swell
==========
Policymakers are gathering in Washington as tensions in the Middle East escalate. Joe Biden has urged restraint from Israel after Iran's drone and missile attack. Iran's attack on Israel is seen as a message to the international community. Israel's war cabinet is meeting as western leaders call for restraint. The article also mentions other topics such as the LVMH succession plans, the decline of the EU without market reform, and the rise of the chief AI officer.
https://www.ft.com/content/ccafba30-004b-4178-8eb0-24d9cd9f8440

2024-04-15 15:44:10

Oil and equity markets shrug off fears of wider war after Iranian strike on Israel
==========
Oil and equity markets remain unaffected by fears of a wider war following an Iranian strike on Israel. Joe Biden urges Israel to exercise restraint after the attack. China's coastguard blocks Philippine vessels amid growing maritime tension. German companies' dependence on China is expected to last for decades. LVMH succession plans accelerate as Arnault children take on more responsibilities. China's capital markets activity hits multi-decade lows. The article discusses the impact of the Iranian strike on oil and equity markets, as well as other geopolitical developments.
https://www.ft.com/content/3bbeb6b5-b9b6-4474-a858-cc8a23c448ba

2024-04-14 01:33:22

Psychology class: Scientists use brain-like tissue in advance for ‘biocomputing’ research
==========
Scientists at Johns Hopkins University have grown a 'brain organoid' from stem cells, which could be used for 'biocomputing' research. Stem cells are a possible way to help the brain recover from trauma. The researchers' technology could identify Japanese vowel sounds and may simulate the auditory cortex of the brain. The possible applications, benefits, and risks of this research include understanding brain function, developing new therapies for brain disorders, and potential ethical concerns. The article is part of the Financial Times free schools access programme.
#Biocomputing #BrainlikeTissue #StemCells #BrainOrganoid #Research #JohnsHopkinsUniversity
https://www.ft.com/content/9cb6ff8c-2e40-40d1-a2b1-c7e4c2b86366

2024-04-13 21:30:15

US High School Economics class: ECB to rely more on bank lending as it shrinks balance sheet
==========
The European Central Bank (ECB) is moving away from its reliance on asset purchases as it shrinks its balance sheet. Instead, the ECB is looking to implement new tools, such as bank lending, to implement monetary policy. The ECB's new approach involves the use of a corridor, with a floor and a ceiling. The floor represents the interest rate on deposits, while the ceiling represents the interest rate on loans. The ECB's actions affect the corridor by adjusting the interest rates. This approach differs from the approaches of the US Federal Reserve and the Bank of England.
#EuropeanCentralBank #MonetaryPolicy #BankLending #BalanceSheet #InterestRates
https://www.ft.com/content/d9b713a5-d5fb-4cc3-a3f0-eab6d03b49a8

2024-04-13 21:29:31

US faces Liz Truss-style market shock as debt soars, warns watchdog
==========
The US is facing a market shock similar to the one experienced by Liz Truss as its debt soars, according to a watchdog. At the end of last year, the US debt pile was larger than its GDP. The projected debt-to-GDP ratio for 2029 is expected to be higher than during WWII. The US debt situation is compared to a Liz Truss market shock because of the potential impact it could have on the economy. Remedies to address the situation include reducing spending, increasing taxes, or a combination of both. The most likely remedy is unclear.
#UsDebt #MarketShock #LizTruss
https://www.ft.com/content/0e1c969f-a199-4888-a840-943b0c846c42

2024-04-13 21:28:47

US High School Economics class: Zimbabwe launches ‘gold-backed’ currency to replace collapsing dollar
==========
Zimbabwe has launched a new 'gold-backed' currency to replace the collapsing dollar. This is the latest currency introduction in Zimbabwe, which has had multiple currencies in the last decade. The new currency is backed by gold in an attempt to restore confidence in the country's monetary system. Zimbabweans prefer 'mattress banking' over traditional banking due to a lack of trust in the banking system. The hyperinflation experienced in 2008 has had a lasting impact on government officials and citizens, influencing their decisions today.
#Zimbabwe #Currency #Goldbacked #Dollar #MonetarySystem #Banking #Hyperinflation
https://www.ft.com/content/b650ea2d-f26f-4b33-9340-090c514ac81c

2024-04-13 21:28:03

US High School Economics class: Wall Street turns to ‘solar grazing’ sheep in its push to go green
==========
Wall Street is using 'solar grazing' sheep to meet its green energy goals. The demand for solar panels has increased the demand for sheep, as they are used to graze on the grass beneath the panels, keeping it trimmed and preventing the growth of weeds. This has led to an increase in the price and quantity of sheep in the market. The article mentions the externalities of reduced maintenance costs and increased biodiversity resulting from the use of sheep. The relationship between the sheep and solar farmers is consistent with the predictions of the Coase theorem, as they are able to negotiate and reach mutually beneficial agreements.
#SolarGrazing #Sheep #GreenEnergy #Demand #Market #Externalities #CoaseTheorem
https://www.ft.com/content/61b9bd7b-ec47-4e20-8f69-67690892e40f

2024-04-12 02:15:28

US High School Economics class: America’s robust national economy hides its weak spots
==========
The article discusses the state of the American economy post-pandemic compared to other G7 nations. President Joe Biden highlighted several economic indicators in his State of the Union address. There is a disconnect between the national economic data and Americans' faith in handling the economy, as suggested by surveys. The growing divide between urban and non-urban areas in the US economy is attributed to factors such as automation, globalization, and the decline of manufacturing jobs. America's geographic income inequality has increased between 1980 and 2021. The cost of living varies across different states, affecting voters' perceptions of the economy. Consumer spending has shown a trend of recovery, but credit delinquency remains a concern. It is important to look beyond aggregate data to understand the true state of the US economy. GDP per capita provides a more accurate measure of economic well-being than total GDP. GDP does not provide information about inequality. The limitations of using GDP as an indicator of a country's overall well-being in relation to environmental sustainability can be seen in examples such as high pollution levels in a country with a high GDP. The "shadow economy" can affect how we understand a country's economy using GDP. The article suggests that while America's national economy may appear strong based on numbers like GDP, not all areas and people in the country are doing well.
#UsEconomy #EconomicIndicators #IncomeInequality #Gdp
https://www.ft.com/content/c136a06c-55b2-49c2-ac09-02107f51d5aa

2024-04-12 01:37:24

2024-04-12 00:58:36

FirstFT: South Korea’s ‘Luke Skywalker’ deals resounding defeat to President Yoon
==========
South Korean President Yoon Suk-yeol suffers a major defeat as his party loses the majority in parliamentary elections. The opposition party, led by Lee Jae-myung, known as 'Luke Skywalker', emerges victorious. The defeat is seen as a referendum on Yoon's handling of the economy and the COVID-19 pandemic. Yoon's party had been plagued by corruption scandals and public dissatisfaction. The election results are expected to impact the upcoming presidential election in 2022. Yoon's defeat is a blow to his political ambitions and may lead to a reshuffling of power in South Korea.
#SouthKorea #ParliamentaryElections #PresidentYoonSukyeol #LeeJaemyung #LukeSkywalker #Covid19Pandemic #CorruptionScandals #PresidentialElection
https://www.ft.com/content/991178bd-d71f-4803-ae04-cfa29ae12ecd

2024-04-11 06:23:28

Resurgent inflation looms again over Joe Biden’s White House bid
==========
Resurgent inflation is becoming a concern for Joe Biden's White House bid. US inflation has risen to 3.5%, causing markets to slash bets on rate cuts. The article discusses the impact of inflation on the economy and the potential consequences for Biden's presidency. It also mentions other topics such as the Israel-Hamas war, European ports turning into 'car parks' due to vehicle imports piling up, and fines imposed on KPMG for a cheating scandal. The article provides a range of news updates and opinions on various topics.
https://www.ft.com/content/d8520a33-f202-4679-b6f7-99fe9e4fb3ae

2024-04-10 11:03:00

EU court removes Mikhail Fridman and Petr Aven from Russian sanctions list
==========
The EU court has removed Mikhail Fridman and Petr Aven from the Russian sanctions list. The decision comes after Fridman and Aven challenged their inclusion on the list, arguing that it was based on incorrect information. The court found that the EU had not provided sufficient evidence to support the inclusion of Fridman and Aven on the sanctions list. The ruling is a blow to the EU's efforts to impose sanctions on individuals and entities involved in the conflict in Ukraine. The EU has accused Fridman and Aven of providing financial support to pro-Russian separatists in eastern Ukraine. The court's decision could have implications for other individuals and entities on the sanctions list, as it sets a precedent for challenging the inclusion of names on the list.
https://www.ft.com/content/d997149f-582b-4733-b134-94ab3dae352e

2024-04-10 10:27:08

OpenAI and Meta ready new AI models capable of ‘reasoning’
==========
The advancements in artificial intelligence has been made by OpenAI and Meta. Both companies are on the verge of releasing new AI models that possess the capability of reasoning and planning, which are essential steps towards achieving artificial general intelligence, akin to human-level cognition. OpenAI, backed by Microsoft, is preparing to launch what is expected to be called GPT-5 soon, while Meta is set to roll out Llama 3 in the upcoming weeks. These models are designed to tackle more complex tasks and exhibit a form of memory, moving beyond the current AI's capability, which is mostly limited to small, one-off tasks. Joelle Pineau from Meta emphasized the importance of these models not just talking but also reasoning, planning, and remembering. Yann LeCun, Meta's chief AI scientist, pointed out the current limitations of AI in handling complex queries and retaining information, which the new models aim to overcome by introducing reasoning and planning capabilities. Furthermore, Meta plans to integrate its new AI model into applications like WhatsApp and its Ray-Ban smart glasses, suggesting practical, everyday uses for these advanced AI capabilities. OpenAI's Brad Lightcap and Meta's Chris Cox discussed the potential applications of these AI models, such as assisting in complex tasks and providing real-time help, indicating a future where AI plays a more integral role in our daily activities.
https://www.ft.com/content/78834fd4-c4d1-4bab-bc40-a64ad9d65e0d

2024-04-10 10:21:15

Fitch cuts China credit outlook to negative on ‘uncertain economic prospects’
==========
Fitch Ratings has downgraded China's credit outlook to negative due to 'uncertain economic prospects'. The rating agency cited concerns over China's high debt levels, slowing economic growth, and the impact of the US-China trade war. Fitch also noted that the Chinese government's efforts to stimulate the economy could lead to a further increase in debt. The downgrade comes as China's economy faces challenges such as rising inflation, a property market slowdown, and a crackdown on tech companies. Fitch's negative outlook indicates a higher likelihood of a credit rating downgrade in the future.
https://www.ft.com/content/f0fa0b49-c8e9-4a83-9750-b32a07c1dfe1

2024-04-10 06:56:57

Big investors buy European bonds over US as economies diverge
==========
Big investors are purchasing European bonds instead of US bonds as the economies of the two regions diverge. This shift in investment is driven by the expectation that the European economy will outperform the US economy in the coming months. The divergence is attributed to factors such as the pace of COVID-19 vaccination, fiscal stimulus measures, and the European Central Bank's commitment to maintaining accommodative monetary policy. The European bond market has seen increased demand, leading to lower yields, while the US bond market has experienced a sell-off, resulting in higher yields. The trend of buying European bonds over US bonds reflects the changing sentiment among big investors and their assessment of the economic outlook for each region.
https://www.ft.com/content/40530e13-3f73-4dfb-b6ca-7130ee539238

2024-04-08 18:58:08

Investors lose hope of rapid US interest rate cuts this year
==========
Investors are losing hope of rapid interest rate cuts in the US this year. The article discusses how the market mood has shifted and how US banks are warning that the cost of dismissing traders will harm financial hub ambitions in Paris. Jamie Dimon, CEO of JPMorgan Chase, warns that rates could stay high. The article also mentions Wirecard shareholders suing EY over alleged asset stripping in Germany. The article highlights the drop in food inflation across rich nations to pre-Ukraine war levels. It also mentions the ongoing Israeli-Hamas war and the threat of Brazil regulating social media after a clash with Elon Musk. The article briefly touches on the Russian quarterly budget revenues rising amid high oil prices. The article concludes by mentioning the beauty queens of Croydon and Cillian Murphy's enjoyment of the moment.
https://www.ft.com/content/3dacd0e1-9cab-4106-b1b1-b64420eec52e

2024-04-08 09:19:15

Janet Yellen says US-China relations on ‘stronger footing’
==========
Janet Yellen, former US Treasury Secretary, has stated that US-China relations are on a 'stronger footing'. Yellen made the comments during a panel discussion at the China Development Forum. She highlighted the importance of cooperation between the two countries on issues such as climate change and the COVID-19 pandemic. Yellen also expressed hope for progress on trade and investment issues, but acknowledged that there are still significant challenges in the relationship. The panel discussion took place amid ongoing tensions between the US and China over various issues, including human rights and technology.
https://www.ft.com/content/27f72b5c-d47e-456b-b468-3096aab1b494

2024-04-08 07:17:42

Biden to warn Beijing against meddling in South China Sea
==========
US President Joe Biden will warn Beijing against interfering in the South China Sea; The warning comes as tensions rise between China and Taiwan; The US has expressed support for Taiwan and has increased military presence in the region; China claims sovereignty over the South China Sea and has been involved in territorial disputes with neighboring countries; The US is concerned about China's aggressive actions in the region and wants to maintain freedom of navigation; Biden's warning is part of the US strategy to counter China's influence in the Indo-Pacific region
https://www.ft.com/content/be5f840a-28f7-4bb0-91f9-1aedd3d10d9e

2024-04-08 03:55:35

China now a rival rather than boon for South Korean exporters, warns minister
==========
South Korean exporters are now viewing China as a rival rather than a boon, according to a warning from a minister. The article highlights that China's rapid economic growth and technological advancements have allowed it to become a competitor in industries that were once dominated by South Korea. The minister also mentions that China's increasing protectionism and trade barriers have made it more difficult for South Korean exporters to access the Chinese market. This shift in perception has significant implications for South Korea's export-dependent economy and its trade relationship with China.
https://www.ft.com/content/49a7a751-febe-4db1-9d24-a5b99eb694dc