Author: FT.com

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An end to super-cheap money? Central banks begin tightening cycle

An end to super-cheap money? Central banks begin tightening cycle

An end to super-cheap money? Central banks begin tightening cycle The world’s financial markets rarely sit glued to their screens waiting for the no-nonsense Norges Bank to pronounce its verdict on Norway’s monetary policy. This week was different. The 0.25 percentage point rise in its interest rate was the most visible expression yet of a...

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Huawei executive Meng Wanzhou reaches deal to resolve US charges

Huawei executive Meng Wanzhou reaches deal to resolve US charges

Huawei executive Meng Wanzhou reaches deal to resolve US charges US prosecutors have reached an agreement with Meng Wanzhou, the chief financial officer of Huawei and daughter of the Chinese tech giant’s founder, to resolve fraud charges against her. The details of the agreement are set to be announced in a court hearing in Brooklyn...

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SEC accuses advertising group WPP of bribery offences

SEC accuses advertising group WPP of bribery offences

SEC accuses advertising group WPP of bribery offences US regulators have accused WPP, the world’s largest advertising group, of paying bribes to Indian government officials and participating in further “illicit schemes” in other emerging markets. The Securities and Exchange Commission said on Friday that the London-listed company had agreed to pay $19m to resolve charges...

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Chinese conglomerate HNA says chief executive and chair arrested by police

Chinese conglomerate HNA says chief executive and chair arrested by police

Chinese conglomerate HNA says chief executive and chair arrested by police Chinese police have detained the two remaining co-founders of HNA in the latest twist in the collapse of China’s hitherto most acquisitive group. The bankrupt Chinese conglomerate, which is under state control, said chair Chen Feng and chief executive Adam Tan were taken into...

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GFG’s timetable slips for refinancing $5bn of Greensill debt

GFG’s timetable slips for refinancing $5bn of Greensill debt

GFG’s timetable slips for refinancing $5bn of Greensill debt Sanjeev Gupta’s timetable for refinancing $5bn of borrowing from collapsed finance firm Greensill Capital has slipped significantly, with cooling commodity markets threatening his battle to preserve his sprawling metals conglomerate. Gupta’s GFG Alliance borrowed heavily from supply-chain finance firm Greensill Capital, which collapsed in March after...

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Scholz leads by a whisker in last hours before German election

Scholz leads by a whisker in last hours before German election

Scholz leads by a whisker in last hours before German election Germany’s political leaders are making their final pitches to voters ahead of national elections on Sunday, with the latest polls suggesting the race to succeed Angela Merkel, the country’s long-serving chancellor, is tightening. All three top candidates — Armin Laschet of the CDU/CSU, Olaf...

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Credit Suisse dumped Evergrande exposure on risk fears

Credit Suisse dumped Evergrande exposure on risk fears

Credit Suisse dumped Evergrande exposure on risk fears Credit Suisse, once the top international underwriter of Evergrande bonds, sold down its entire exposure to the troubled Chinese property developer late last year, according to people familiar with the decision. The move will protect the Swiss bank from significant losses if the world’s most indebted developer...

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Sweden’s EQT hit by market abuse probe

Sweden’s EQT hit by market abuse probe

Sweden’s EQT hit by market abuse probe Swedish regulators have opened a market abuse investigation into private equity group EQT after a controversial $2.7bn share sale by top executives. Shares in EQT fell 6 per cent on Friday morning after the Swedish Financial Supervisory Authority said it was looking into whether one of Europe’s largest...

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Cyrus Vance: ‘I have no personal friendship or enemies. It’s law’

Cyrus Vance: ‘I have no personal friendship or enemies. It’s law’

Cyrus Vance: ‘I have no personal friendship or enemies. It’s law’ Just before I arrive for lunch with Cyrus Vance Jr, New York’s doughty district attorney, there is a “ping” on my cell phone. I glance idly and see a headline: “Trump 2024: could he win?” Could he, I wonder, as I walk through the...