Many people dream of building their own home, but few have the up-front cash needed to build it. This means that most will require a loan to cover the costs of construction. These are known as construction loans. For buyers purchasing an existing home, it’s relatively easy to get approved for a conventional mortgage, as
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This week is rich with commemorations. It begins with the anniversary of the Maastricht treaty, signed 30 years ago on Monday by the 12 member states of what had been the European Community. It established the EU and laid the foundations for monetary union as well as fuelling concerns among those opposed to further political
Brussels is examining how to shield consumers from a potential energy crisis as part of plans to protect Europe’s households, businesses and borders from the fallout of a Russian military escalation in Ukraine. Diplomats told the Financial Times that the EU was discussing contingency measures to deal with surging gas prices, a possible migratory emergency
The exchange rate between Canada and the U.S. is often strongly correlated to the price of oil. Over the long run, when the price of oil rises, the value of the Canadian dollar (also called the loonie) also usually rises relative to that of the U.S. dollar. That correlation can be directly attributed to the way Canada earns
Westminster council is calling for new powers to curb the use of Airbnb-style rental properties and crack down on rogue landlords who are “making life hell for many of our residents”. The London council is urging the UK government to introduce regulations that would allow it and other local authorities to refuse permission to homeowners
Credit Suisse has securitised a portfolio of loans linked to its wealthiest customers’ yachts and private jets, in an unusual use of derivatives to offload risks associated with lending to ultra-rich oligarchs and entrepreneurs. The Swiss lender, which has endured a bruising year marked by repeated scandal, quietly sold on a slice of the risk
Paying foreign officials for expediting legal processes or obtaining contracts was a common business practice around the world well into the 1970s. In 1973, the Watergate scandal, that ultimately caused Richard Nixon’s resignation as president, brought corporate bribery into the spotlight. The Securities Exchange Commission (SEC) and the U.S. Department of Justice (DoJ) began investigating
In this article SQ MARA RBLX BA AMD A Boeing 777X airplane takes off during its first test flight from the company’s plant in Everett, Washington, January 25, 2020. Terray Sylvester | Reuters February started on a dramatic note as Big Tech companies, including Meta Platforms and Amazon, issued quarterly earnings and swayed the major
The UK is planning to spend £6bn over three years on a new global science fund, if the EU refuses to let the country take part in its Horizon Europe research programme, the government’s preferred option. George Freeman, science minister, told the FT that he was working on the new international fund, known in science
The writer is a former anti-apartheid leader and former Labour cabinet minister South Africa’s decade of corruption under former president Jacob Zuma robbed its taxpayers of many hundreds of millions of pounds (billions of rand) and contributed to a catastrophic loss of gross domestic product of around a fifth. But the recent finding of the
Roth IRAs are popular accounts for investors to leave to their heirs because of these accounts’ tax-free status and lack of required minimum distributions (RMDs) during the original owner’s lifetime. Roth contributions are made with after-tax money, and any distributions you take are tax-free as long as you are at least 59½ years old and
On one side of the border between Russia and Ukraine, more than 100,000 of Moscow’s troops are massed. On the southern side, thousands of Ukrainian citizens are getting military training to repel what western intelligence says is a possible Russian attack. This is one of the world’s most tense borders — where little more than
Footage of overwhelmed doctors treating patients in makeshift conditions in Italy’s Lombardy region in March 2020 was the first sign of the deadly threat posed by coronavirus in Europe. The sight of clinicians struggling to find beds in Spain’s capital, Madrid, also foreshadowed the public health emergency ahead. Two years on, the situation has been
How will you manage money as a newly married couple? One practicality you need to discuss, preferably before saying, “I do,” is what your money style will be going forward. While it’s true that, in general, getting married makes financial sense, how do you make it make sense—and cents—for you? There are three main ways
Boris Johnson has announced two new Downing Street appointments following a chaotic week, which saw the departure of five senior officials and public criticism from cabinet ministers. Steve Barclay, chancellor of the Duchy of Lancaster, has been appointed Johnson’s chief of staff. Guto Harri, a former BBC journalist and communications director during Johnson’s first term
In celebrating the centenary of the publication of James Joyce’s Ulysses (Life & Arts, January 22), Colm Tóibín and Miles Ellingham point out that such rejoicing was not ever thus. In 1981, a year before the centenary of Joyce’s birth, I was on placement in the library of his alma mater, University College Dublin, where
Investing is a way to set aside money while you are busy with life and have that money work for you so that you can fully reap the rewards of your labor in the future. Investing is a means to a happier ending. Legendary investor Warren Buffett defines investing as “the process of laying out
In this article MRCY Julian Elliott Photography | Stone | Getty Images Company: Mercury Systems Inc. (MRCY) Business: Mercury Systems is a technology company, engaged in the manufacture and sale of components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. The company’s products and solutions
Cryptocurrency investment products suffered record outflows in January, as sliding token prices and a flight from risky assets reversed the fortunes of a sector that had frenzied interest last year. Vehicles such as the Grayscale Bitcoin Trust, which gives investors exposure to crypto assets without holding the tokens directly, attracted billions of dollars in 2021,
The writer is a fellow at the Joseph Rowntree Foundation and a contributing editor at Prospect magazine It is not quite true to say that we’ve never been here before. For most of human history, living standards did not advance in a way visible to the naked eye. Historians guesstimate English gross domestic product per
The price for shares of Starbucks Corporation (SBUX) recently continued its wider losing streak after the company reported earnings for the fiscal first quarter. Starbucks beat analysts’ expectations for revenue but missed on earnings per share (EPS). Analysts expected the company to announce $0.80 in EPS and $7.5 billion in revenue for the quarter—Starbucks reported
Nike and Amazon are separately evaluating bids for Peloton, which has come under fire from an activist investor who has urged the board of the maker of connected fitness bikes and treadmills to sack its chief executive and explore a sale. Amazon and Nike have not held any talks with Peloton and the considerations are
The world’s top players come to India to compete in a league that pays more than any other competition. It has changed the business of cricket, bringing unprecedented funds into the sport. Also: racism scandal delivers new blow in testing times; The Hundred plays the long game; Test cricket loses out to fast formats
Carbon dioxide (CO2) is an odorless gas that is highly important to life on Earth. CO2 is also known as a greenhouse gas; an excessive concentration can disrupt the natural regulation of temperature in the atmosphere and lead to global warming. The concentration of CO2 has especially increased as a result of the Industrial Revolution
At a fairground in Conroe, Texas, last Saturday night, Donald Trump seemed as riled up as ever. The “fake news” was under-reporting the crowd, the “raving lunatics” on the left, including Joe Biden, were running the country into a ditch — and “everyone in Washington” was obsessed with protecting Ukraine’s borders instead of America’s. But
A contractor for First Solar works on construction of a solar project in Imperial County, California. Sam Hodgson | Bloomberg | Getty Images The Biden administration said Friday that it will extend Section 201 tariffs on imported solar cells and panels for another four years, but with several changes to existing provisions. The tariff rate
This article picked by a teacher with suggested questions is part of the Financial Times free schools access programme. Details/registration here. Specification: Inflation, Wage Price Spiral, Monetary Policy Click to read the article below and then answer the questions: Can the UK avoid a wage-price spiral? Define the term inflation Explain the term wage price spiral
NEWS ALERT February 3, 2022, 10:13 a.m. EST: Meta stock plunged 25% Thursday morning after the social media giant reported disappointing 2021 earnings and forecast revenue growth next quarter would fall short of analyst expectations. The company also reported its first-ever decline in daily active users on its Facebook app. Meta Platforms Inc. (FB), the
CEO Rafal Modrzewski inspects some of the company’s satellite hardware. ICEYE Finnish satellite-imagery venture ICEYE has raised $136 million in new funds, the company announced on Thursday, as it looks to add to its spacecraft fleet in orbit and further develop its product line in natural catastrophe detection. The latest round of venture capital fundraising,
To reach the old villa restaurant where we are to have lunch, my guest takes me along a beach fringing her childhood hometown. It is a stunning stretch of Albania’s Adriatic coast. It is also a trip down a dictatorial memory lane. Lea Ypi played here, just outside the port of Durrës, in the 1980s,
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