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Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The UK government is shifting to shorter-term borrowing to lower its interest bill as a global debt sell-off adds to the pressure on its tax and spending plans.Jessica Pulay, head of the UK’s Debt Management Office, said the agency was softening a reliance on long-term borrowing that has made the country an outlier among major global bond markets, amid falling demand from institutional investors. Shorter-term debt is currently cheaper to take out — an important consideration for a country whose issuance costs…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The writer is chief economist at ING The dollar is losing its status as an all-purpose haven, highlighted by Moody’s recent downgrade of its last remaining triple A credit rating from one of the big three agencies. The EU now has a unique chance to capitalise on investor doubts and promote the euro as a reserve currency, a move that would yield significant economic benefits. It is time to break the taboo around issuing common debt by the EU backed by member…
CNN — JPMorgan Chase CEO Jamie Dimon says the full effects of tariffs have yet to be felt and that markets are exhibiting an “extraordinary amount of complacency” in the face of those and other risks. “When I’ve seen all these things adding up that are on the fringes of extreme, I don’t think we can predict the outcome, and I think the chance of inflation going up and stagflation is a little bit higher than other people think,” Dimon said during his company’s annual investor day on Monday. “There are too many things out there, and I think you’re…
A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free here. New York CNN — Critics of the president’s decision to auction off a private dinner via his Trump-branded crypto token were worried about the stunt for a few reasons. At the top of the list: the potential for foreigners to buy access to the sitting president, something the US Constitution explicitly prohibits. Those concerns, it seems, were well founded. The vast majority of the top holders of Trump’s memecoin appear to be based overseas, including the top investor…
In her 20s, Claudia Woodham decided to quit her job in Manchester to travel abroad.She had a degree in marketing, but low starting salaries in the field had led her to take a job at a bank instead. But the 9-to-5 corporate lifestyle left her feeling stressed and unfulfilled, and she knew she had to get out.What began as a yearlong trip through Southeast Asia and Australia with her partner, Danny, turned into four years of full-time travel. But eventually, the two of them craved something more permanent.”We kind of got sick of living out of the suitcase, so we…
Herman Ko is 27 but already has experience sitting on both sides of the recruiting table.The former banker worked at JPMorgan for about 3 ½ years before joining Career Hackers, a human resources and education technology startup in March 2024. Ko is now the company’s head coach and chief program director, where he helps to design and administer AI hiring assessments for companies.Ko told Business Insider that it is becoming increasingly common for recruiters to use AI to screen job applicants. This includes video-based interviews, essay writing, job simulations, and psychometric tests to assess leadership potential.Ko said using AI allows…
This as-told-to essay is based on a conversation with Andrew Moo, 33, co-founder of Taste Collective — a creative agency — and co-owner of two restaurants in Shanghai. The following has been edited for length and clarity.I grew up in Perth as a fourth-generation Australian. Any connection to my Chinese heritage felt long gone.My great-grandfather arrived on the northern coast by boat from Guangdong in 1889, chasing the classic immigrant dream. Fast-forward a few generations, and assimilation had done its job.By the time my parents were raising me, we didn’t speak Chinese, eat Cantonese food at home, or celebrate any…
CNN — The Federal Trade Commission on Wednesday sent Media Matters for America a letter demanding communications between the progressive media watchdog and advertising entities as the commission probes whether the watchdog colluded with advertisers to pull funding from Elon Musk’s X. Media Matters was notified in a letter dated May 20 from the FTC that it is being investigated, a source familiar with the letter told CNN. The letter, which CNN has viewed, directs Media Matters to turn over all documents, materials and communications with a range of ad entities and related organizations — including the World Federation of…
Hong Kong CNN — A surprise truce in a spiraling tariff war between the US and China last week was hailed by Chinese pundits as a success for the country. But Beijing is gearing up for a rocky path in relations, and negotiations, ahead. Already, in the days immediately following the May 12 agreement between American and Chinese negotiators in Geneva, Beijing has been lashing out at Washington. On Monday, China’s Commerce Ministry accused the US of “undermining” the Geneva talks after the Trump administration warned companies against using AI chips made by national tech champion Huawei. Two days later,…
New York CNN — Hours before President Donald Trump’s “reciprocal” tariffs were set to take effect last month, he said, “These countries are calling us up, kissing my a**. They are dying to make a deal. ‘Please, please, sir, make a deal. I’ll do anything, I’ll do anything, sir.” But the reality was that deals were not free-flowing. Instead, financial markets tanked after the tariffs took effect as impacted nations readied up retaliation plans, deepening the already steep losses markets experienced after Trump unveiled the rates on April 2. Even some of Trump’s biggest supporters begged him to back down.…