The writer was previously a commander in the Metropolitan Police and chief constable of Devon and Cornwall Police As a former chief constable, I was appalled at last week’s revelations of pervasive bullying, misogyny, homophobia and racism by some officers based at Charing Cross Police Station. Coming so soon after the rape and murder of
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The Philippines, under the leadership of President Benigno Aquino III and followed by Rodrigo Duterte, is slowly yet steadily emerging as a rising tiger, something that was highlighted by Motoo Konishi, World Bank Country Director, during the 2013 Philippines Development Forum. Clean governance, strong leadership, growing infrastructure, and policy endeavors have catapulted the Philippines onto
Prudential’s next chief executive will be based in Asia for the first time after Mike Wells said he is stepping down following seven years at the top of the UK’s biggest listed insurance company. The decision to base the top job in Asia cements the 174-year-old group’s shift to the region and follows a radical
Good morning. The Facebook note yesterday drew a lot of responses. We respond to some readers below, after having another look at the (apparently) benign credit landscape. Later today we get the January CPI report, so we can all go back to doing what we enjoy most: arguing about inflation. Meanwhile, email us: Robert.Armstrong@ft.com and
American Express has launched a new checking account. The financial services company primarily focuses on credit cards and payments processing but now offers a new checking product for consumers. The new members-only American Express Rewards Checking will offer debit card rewards plus a high yield on balances compared to other checking accounts. Key Takeaways American
Labour’s biggest donor, Unite the Union, has threatened to cut financial support for the party over a dispute between a Labour-run local authority in the Midlands and local bin collectors. Sharon Graham, elected as general secretary of Unite last year, said she was launching a review of the organisation’s financial support for Labour as a
A batch of Starlink satellites deploy in orbit after a launch on Nov. 13, 2021. SpaceX Elon Musk’s SpaceX expects to lose nearly an entire launch’s worth of Starlink satellites after a storm created by the sun struck the Earth’s atmosphere. The company launched 49 Starlink satellites with a Falcon 9 rocket on Feb. 3.
Economic news: Huw Pill, the Bank of England’s chief economist, delivers a speech on the UK’s monetary policy outlook at the annual conference of the Society of Professional Economists, while Sweden’s Riksbank holds its monetary policy meeting in Stockholm. A range of companies publish results on Wednesday. L’Oréal: The French consumer group reported robust third-quarter
There are many reasons for using your property as a rental. Maybe your home has been on the market for a long period, and you’ve determined that you can’t sell it at a value that allows you to break even. Maybe you inherited or were gifted a property that you don’t want to sell. Or
Boris Johnson has announced plans to end the legal requirement to self-isolate after a positive Covid-19 test as he moves to scrap the last remaining coronavirus restrictions in England. The UK prime minister, attempting to raise Conservative morale after weeks of Tory divisions, won cheers from his MPs as he suggested the worst of the
European scientists have set a new record for the most energy to be generated from nuclear fusion, the latest breakthrough in a decades-long effort to produce power by harnessing the reaction that powers the sun. A team of researchers from the Eurofusion consortium produced 59 megajoules from a sustained reaction lasting five seconds — enough
NVIDIA Corp. (NVDA) designs, develops, and markets graphics processors as well as related software and hardware products. The company has played a pioneering role in the development of the graphics processing unit (GPU), a type of chip or electronic circuit capable of rendering graphics for display on electronic devices. GPUs were originally designed for the
Investors are growing worried that if the European Central Bank signals too aggressive a tightening in monetary policy, it could trigger the type of bond market tumult that worsened the eurozone debt crisis a decade ago. Government debt across the currency bloc has tumbled since last week’s ECB meeting, when president Christine Lagarde declined to
You can enable subtitles (captions) in the video player The travel industry was first to suffer when the global pandemic hit America’s shores in March 2020, but one American company was more exposed than any other. Hertz, the iconic car rental company, had a debt pile of over $20bn, and its debt was unusually unstable.
Filing taxes can be an overwhelming experience in ordinary times. Given this year’s advance child tax credits, stimulus payments, and other COVID-related twists and turns, these are definitely not ordinary times. For small businesses and the self-employed, tax matters can be, and often are, even more complicated. Knowing this, the Internal Revenue Service (IRS) has
French president Emmanuel Macron on Tuesday said he had obtained assurances from his Russian counterpart, Vladimir Putin, that there would be no “deterioration or escalation” of the crisis over Ukraine. Macron was speaking on the way to Kyiv, where he met Ukraine’s President Volodymyr Zelensky after more than five hours of talks on Monday night
Japan’s SoftBank plans to list Arm Holdings in New York after a $66bn sale to Nvidia fell through. The collapse of the deal has sparked a political and corporate battle over the future home of one of Britain’s most successful tech companies. “I believe that Arm is about to enter its golden age and so
Accounting firm KPMG is getting into cryptocurrencies. The firm announced in a press release on Feb. 7, 2021, that its Canada office had purchased Ethereum (ETHUSD) and Bitcoin (BTCUSD) for its corporate treasury. KPMG did not divulge the amount or figures related to its investment in cryptocurrencies. “This investment reflects our belief that institutional adoption
Boris Johnson has begun a mini reshuffle of his ministerial team, moving Jacob Rees-Mogg, an ardent Leaver, to the role of minister for Brexit opportunities. Rees-Mogg was heavily criticised in his previous job as Leader of the House of Commons for his role in the Owen Paterson sleaze scandal. Rees-Mogg admitted he supported collapsing the
Peloton’s co-founder is ceding the top job at the fitness bike maker in a shake-up that will cost 2,800 jobs, after a collapse in its market value drew pressure from activist investors and potential bidders. The company announced on Tuesday morning that Barry McCarthy, the former chief financial officer of Spotify and Netflix, will replace
Traders spend hours fine-tuning entry strategies but then blow out their accounts taking bad exits. In fact, most of us lack effective exit planning, often getting shaken out at the worst possible price. We can remedy this oversight with classic strategies that can enhance profitability. Before we jump into the strategies, we’ll start with a look
Macquarie chief executive Shemara Wikramanayake said “extreme” volatility in the energy market had led to increased trading income © Al Drago/Bloomberg Australia’s Macquarie Group has reported a “record” third quarter, boosted by increased client hedging and trading in the company’s gas and power business in response to “unusually challenging market conditions”. The financial services giant
A former Bank of America lawyer in Hong Kong has been sent back to prison for assaulting a plainclothes police officer during pro-democracy protests two years ago, in a case that analysts said highlighted the legal risks for foreigners working in the city. Hong Kong’s High Court on Tuesday rejected the appeal of Samuel Bickett,
What Is an Economic Moat? The term economic moat, popularized by Warren Buffett, refers to a business’ ability to maintain competitive advantages over its competitors in order to protect its long-term profits and market share from competing firms. Just like a medieval castle, the moat serves to protect those inside the fortress and their riches
US President Joe Biden and Germany’s chancellor Olaf Scholz struggled to present a united front in the stand-off over Russia’s threat to invade Ukraine after a pivotal White House meeting exposed lingering differences over the fate of the Nord Stream 2 gas pipeline. During a joint press conference on Monday afternoon, Biden said if Russia
Peter Thiel will not seek re-election to the board of Facebook’s owner Meta later this year, the social media group said on Monday Thiel, a billionaire tech investor and Silicon Valley’s most prominent supporter of the former president Donald Trump, took the decision in order to focus on “political endeavours” and “avoid that being a
Key Takeaways Analysts estimate adjusted EPS of $0.85 vs. $0.42 in Q4 FY 2020. Pfizer’s revenue is expected to grow at a robust pace, but slower than Q3 FY 2021. The U.S. government has doubled its order for Pfizer’s recently approved oral treatment for COVID-19. Pfizer Inc. (PFE) has seen its earnings and revenue grow
Bob Cortright of DriveWealth Source: DriveWealth DriveWealth, the SoftBank-backed start-up that helps fintech firms like Revolut offer stocks, is getting into cryptocurrency trading, CNBC has learned. The New Jersey based start-up, valued at $2.85 billion in a recent fundraising, is acquiring a crypto firm founded by Harvard-trained quants and launching two subsidiaries to handle and
Asset manager Abrdn has been forced to delay a shareholder vote on a £1.5bn transaction owing to a shortage of paper caused by international supply chain problems. The FTSE 100 group will contact shareholders on Wednesday announcing the delay to the vote on its proposed acquisition of retail funds platform Interactive Investor. Abrdn had originally
US low-cost carrier Frontier has agreed to acquire rival Spirit for $6.6bn, including net debt, in what would be the first large airline merger since the industry was rocked in 2020 by travel bans and lockdowns introduced to stem the spread of Covid-19. Under the terms of the agreement on Monday, Spirit shareholders will receive
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