Author: Lily Harper

One scoop to start: Donald Trump is considering appointing antitrust officials who may press on with the Biden administration’s crackdown on Big Tech’s market power, in what would represent a break with the Republican party’s traditionally business-friendly stance.And a top Treasury job: Wall Street investors Scott Bessent and Howard Lutnick are the leading contenders to be Donald Trump’s Treasury secretary after hedge fund billionaire John Paulson dropped out of the race for the job.Welcome to Due Diligence, your briefing on dealmaking, private equity and corporate finance. This article is an on-site version of the newsletter. Premium subscribers can sign up…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.I am in London on a one-year assignment and looking to rent a family home before potentially buying. We are expecting to pay between £6,000 and £8,000 a month but were not expecting the landlord or letting agent to ask for the full year’s rent to be payable in one go. Is this legitimate and, if so, can we expect a six-month break clause in case our circumstances change?Tristan Ward, partner at law firm BDB Pitmans Tristan Ward, a partner at the law…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Lloyds Banking Group will stop recognising the trade union membership of its highest-paid employees, replacing union negotiations with “people forums” to discuss issues ranging from job cuts and pay to health and safety.In a memo sent to all staff last month, Lloyds, which has about 60,000 employees, said it had “reached a new agreement” with trade unions Unite and Accord.This will change how the group “[consults] on collective matters such as organisational change, policies, reward and health and safeties,” the memo said.…

A stock exchange based in the Channel Islands is trying to capitalise on a global drought in initial public offerings with the launch of a facility for buying and selling shares in privately held companies. But this reinvention of its role looks likely to attract stiff competition from larger rivals.The International Stock Exchange (TISE) — which has, for years, specialised in providing a listing venue for corporate debt — last year launched a unit allowing private companies to run auctions in their own shares, without the need for a broker.This move comes as more companies choose to remain privately owned…

In 2003, having built a small student housing business in his native Scotland, Charlie MacGregor, then in his late 20s, moved to the Netherlands to do the same there.By 2012, armed with backing from Carlyle, the private equity group, he had found a new operating model: to keep costs down, he licensed buildings as hotels, rather than residential units; he created high-end interiors, emphasising amenities and large communal spaces; then he rented rooms out to students for long stays, while keeping some back for visiting parents — which generated a handy auxiliary income.One day, he met a 60-year-old sales rep…

Stay informed with free updatesSimply sign up to the UK financial regulation myFT Digest — delivered directly to your inbox.Chancellor Rachel Reeves will on Thursday call for an overhaul of the UK system for consumer redress in the financial services sector, as lenders brace for a potential multibillion pound bill for alleged mis-selling of car finance.Reeves wants to modernise the operation of the Financial Ombudsman Service (FOS) to give consumers and businesses more clarity about the compensation landscape in future, according to allies of the chancellor.She will use her Mansion House speech on Thursday to promise stability as she attempts…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.This article is the latest part of the FT’s Financial Literacy and Inclusion CampaignTwo million women in the UK do not think they will ever be able to afford to retire, according to a landmark study — but pension providers hope greater digital engagement will boost the prospects for future generations. Now in its 20th year, the Scottish Widows’ Women & Retirement Report found that women still face significantly worse retirement outcomes than men, even though the gender pensions gap is gradually…

Unlock the White House Watch newsletter for freeYour guide to what the 2024 US election means for Washington and the worldDonald Trump Jr has chosen to join a venture capital firm that invests in conservative-leaning companies and the “anti-ESG” economy, rather than being part of his father’s team in the White House.The president-elect’s eldest son will join Florida-based firm 1789 Capital as a partner, said a person with direct knowledge of the move. Trump Jr had played a central role in the re-election campaign, including throwing his support behind JD Vance, who eventually saw off competition from more established rivals…

Stay informed with free updatesSimply sign up to the European banks myFT Digest — delivered directly to your inbox.Spanish bank BBVA has suffered a setback in its €11bn hostile bid for local rival Sabadell as the country’s antitrust regulator announced it would subject the deal to a more rigorous competition review.The CNMC, Spain’s antitrust regulator, said on Tuesday that “in view of circumstances of the transaction and its potential impact on the maintenance of effective competition” it would submit the deal to what it calls a phase 2 review.The regulator’s decision will further delay any advance in the deal, which would…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Shares in Nissan surged as much as 20 per cent on Tuesday, after a fund managed by activist investor Effissimo Capital Management was revealed to have taken a stake in the struggling Japanese automaker.Singapore-based hedge fund Effissimo is famous for its high-profile campaigns against some of the biggest names in corporate Japan including Toshiba and transportation company Kawasaki Kisen. Nissan’s stock closed up 12 per cent in Tokyo, recouping much of last week’s collapse after it unveiled measures including 9,000 job cuts…