Author: Lily Harper

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.BlackRock has become the latest financial firm to bail out of a major climate change group in the wake of Donald Trump’s election as US president and heightened regulatory scrutiny.The world’s largest money manager told institutional clients in a letter on Thursday that it had quit Net Zero Asset Managers, a global group that describes itself as committed to “the goal of net zero greenhouse gas emissions by 2050 or sooner”.Membership in NZAM had “caused confusion regarding BlackRock’s practices and subjected us…

Stay informed with free updatesSimply sign up to the US banks myFT Digest — delivered directly to your inbox.No one has ever accused the Federal Reserve’s research division of working too quickly. Delayed findings can still be interesting, though. Take this recent paper, which reviews the US’s regional bank run in March 2023. For readers who were following Alphaville’s coverage at the time, some findings won’t be terribly surprising: It was mostly large depositors who pulled their funds, meaning companies and investors rather than individuals. And they yanked cash from banks with weak balance sheets. But this bit of information…