Category: Business News

Credit rating agency Moody’s Ratings today upgraded the global banking sector from negative for the first time since March 2023. In explaining its bank upgrade, the agency cited monetary easing among Group of 20 members, as well as interest rate cuts that will improve asset quality and robust funding and liquidity in most systems. “We…

When the Supreme Court abolished women’s right to abortion in 2022, it was hard to believe that this could follow in access to contraception. And yet, even before the election, legislative initiatives began to restrict access to certain contraceptives. The Trump administration could continue down this regressive path, suggesting a slippery slope to the brutal…

Unlock Editor’s Digest for free Roula Khalaf, editor of the FT, picks her favorite stories in this weekly newsletter. Sir Keir Starmer refused to repeat his manifesto pledge to make Britain the fastest growing economy in the G7, as a new report suggested the US and Canada were outstripping the UK. Asked by Conservative leader…

After nearly two years of speculation about when—or even if—Amazon would launch its own competing family of AI models to take on OpenAI, Google, and Anthropic, the company finally delivered the mic drop moment at its AWS re:Invent conference. Amazon has announced a new family of AI models for text, images and video, called Nova,…

Unlock Editor’s Digest for free Roula Khalaf, editor of the FT, picks her favorite stories in this weekly newsletter. It will go down as one of the shortest introductions of a state of emergency in history. Only six hours passed between South Korean President Yoon Suk Yeol’s declaration of military rule on Tuesday night and…

A gunslinger who died UnitedHealthcare CEO Brian Thompson is still at large and was last seen fleeing the scene on an electric bicycle in Central Park, according to the NYPD. Thompson was killed outside New York Hilton Midtown on Wednesday morning in front of health care giant UnitedHealth’s planned investor day. He was rushed to…

Unlock Editor’s Digest for free Roula Khalaf, editor of the FT, picks her favorite stories in this weekly newsletter. France’s parliament voted Wednesday to oust Prime Minister Michel Barnier over his proposed cuts to the budget deficit, plunging the country into deeper political turmoil. The motion of no confidence was approved by 331 votes in…

Narong Yuenyonghattaporn, a retired civil servant in Bangkok, bought an electric car from GAC Aion earlier this year. He is part of a growing number of Thai drivers buying electric vehicles sold by Chinese car companies but made in Thailand, a country that has become one of the front lines in the global battle for…

A spokesman for UBS Group AG said he was “appalled” that witnesses described the bank as a mafia-like organization as the French subsidiary was accused in Paris of harassing its former staff who reported whistleblowers. “I don’t work in a mafia-style company,” Régis Turrini, currently president of UBS Europe’s French arm, said in preliminary remarks…

President-elect Donald Trump has selected Paul Atkins, a veteran financial regulator and self-proclaimed libertarian, to chair the Securities and Exchange Commission. Trump’s selection of Atkins, which he announced on Truth Social, comes two weeks after current SEC chairman Gary Gensler he said he would step down on January 20, the last day of President Biden’s…