Category: FT

Stay informed with free updates Simply sign up to the Pensions industry myFT Digest — delivered directly to your inbox. One of Australia’s largest pension funds is ahead of schedule with its plans to invest billions in the UK and Europe, citing attractive investment opportunities, while the US outlook has become more uncertain. Deanne Stewart, chief executive of Aware Super, which manages A$190bn ($124bn) for more than 1.1mn savers, said she saw a “really significant opportunity for Europe and the UK”, and while there were trade challenges with the US “if…

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A surge in long-term borrowing costs, high inflation and a month-long string of weak debt auctions are raising the pressure on the Bank of Japan ahead of its monetary policy meeting next week. Yields on 30-year bonds hit a record high of 3.2 per cent last month, pushed up by an ongoing buyers strike among domestic life insurers. While they have since dipped to about 2.9 per cent, many analysts…

Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Donald Trump has approved Nippon Steel’s $14.9bn bid for US Steel after an agreement to settle national security concerns swayed the US president into backing the takeover. In a White House executive order issued on Friday, Trump approved the “historic partnership”, which comes with conditions including a golden share for the US government and a commitment to invest $11bn by 2028. The deal’s approval caps 17 months of…

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. By cancelling the permits of four out of five nickel mining companies operating in Indonesia’s Raja Ampat archipelago, President Prabowo Subianto this month handed a rare win to environmental groups that have long criticised the rapidly growing industry. Prabowo’s intervention followed a report by Greenpeace that said nickel exploitation on three Raja Ampat islands had destroyed more than 500 hectares of forest and caused soil run-off threatening the coral reefs…

At noon on Friday, Manish Namdar entered the examination hall of Ahmedabad’s BJ Medical College, now converted to a DNA collection room for the next of kin of the more than 250 people who died in the Air India crash a day earlier. Namdar and his family had driven 800km overnight, desperate to see the faces of his 32-year-old daughter Raxa Modha and one-and-a-half-year-old grandson Rudhra, who were on board the Boeing 787-8 Dreamliner that fell on a nearby college student hostel on Thursday. But officials told Namdar the bodies…

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Investigators into the causes of India’s worst civil aviation disaster in almost three decades have found a “black box” flight recorder from the Air India flight for London that crashed in Ahmedabad, killing all but one of 242 people on board. Civil aviation minister Ram Mohan Naidu Kinjarapu said in a social media post that the recovery of the Boeing 787-8 Dreamliner’s flight recorder on Friday marked “an important step…

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Jane Street has struck one of Hong Kong’s largest prime office leases since before the Covid-19 pandemic, underlining how the New York-based trading firm has emerged as a challenger to Wall Street’s biggest banks. Under the deal, which relates to a central business district complex still under development, Jane Street will pay an estimated rent of more than HK$30mn per month ($3.8mn) for a five-year lease of six floors starting…

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Now where were we? In my last Skin in the Game column I said three issues were making me especially nervous at the moment. “Which way the dollar is heading and ditto for inflation and rates globally.” I only covered the first of these, but I recommend reading my lovely colleague Katie Martin this week to understand why all portfolio managers are struggling with the dollar. (I’ve forgiven her for…

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Toyota Motor chair Akio Toyoda has gained 96.72 per cent approval for his re-election in a sign of significant shareholder support as the world’s largest carmaker starts to put a data falsification scandal behind it. The stronger backing, revealed in a company filing on Friday, marks a major recovery from last year’s shareholders’ meeting, when the scion of Toyota’s founding family received just 72 per cent backing, the lowest ever…