Author: Lily Harper

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The New York Stock Exchange announced plans to extend trading hours for equities on its Arca venue to 22 hours on weekdays, in an effort to meet global demand for buying and selling US-listed assets around the clock.NYSE, which is part of Intercontinental Exchange, said the extended trading hours for its all-electronic Arca exchange would cover 1:30am to 11:30pm Eastern time, excluding holidays.The proposed expansion, which targets a 2025 launch and is subject to approval by the Securities and Exchange Commission, follows…

Stay informed with free updatesSimply sign up to the US financial regulation myFT Digest — delivered directly to your inbox.Failure to finalise stricter stability rules could lead to an “unravelling internationally” of guardrails put in place after the financial crisis and create conditions for a new global banking meltdown, a top US regulator has warned.Michael Hsu, the acting Comptroller of the Currency, told the Financial Times such a breakdown “would create unhelpful uncertainty for US banks, could lead to a race to the bottom, which would sow the seeds for a future financial crisis and it would hurt US credibility…

Keep abreast of significant corporate, financial and political developments around the world. Stay informed and spot emerging risks and opportunities with independent global reporting, expert commentary and analysis you can trust.Subscribe to unlock this article Try unlimited access Only ¥100 for 4 weeks Then ¥9,000 per month New customers only Cancel anytime during your trial Explore our subscriptionsIndividualFind the plan that suits you best.ProfessionalPremium access for businesses and educational institutions.Check if your university or organisation offers FT membership to read for free. Source link

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Millennium Management is considering launching its first fund since it was founded more than three decades ago in a bid to target less liquid assets, including private credit, according to people familiar with the matter.Private credit, involving loans made to risky companies, has ballooned into an almost $2tn asset class as traditional banks have retreated from what was one of their core lending businesses.Despite the explosive growth in private credit, Millennium believes there are still opportunities in that market and other less…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Shares in Close Brothers fell more than 15 per cent on Friday after the Court of Appeal sided with consumers who complained of “secret” commissions paid to dealerships when they took out car loans.In a landmark ruling that could open the door to more demands for compensation from lenders, senior judges found that dealerships owed a “fiduciary” duty to consumers taking out motor loans, meaning they had to act in their best interests.Close Brothers said it had temporarily paused the writing of…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Payouts for EY’s UK partners fell by 5 per cent this year to £723,000 on average, as the Big Four firm was hit by a sharp slowdown in sales growth and its partnership increased in size.The fall in partner pay for the most recent financial year followed a rise in the number of equity partners who share in the firm’s profits, EY said on Friday. Its average equity partner headcount stood at 903 in the year to the end of June, up…

Stay informed with free updatesSimply sign up to the Workplace pensions myFT Digest — delivered directly to your inbox.Whatever tax rises chancellor Rachel Reeves announces at the Budget on October 30, four financial experts will be on hand to answer questions about the impact on your personal finances. Claer Barrett, the FT’s consumer editor, will join Sir Steve Webb, former pensions minister and now partner at LCP, Dawn Register, head of tax dispute resolution at BDO, and Majid Hussain, head of private client at Haysmacintyre, to answer your queries live.To take part, leave your question in the online comments below…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.UK bank NatWest has reported a 25.7 per cent rise in quarterly profits and upgraded its forecasts for the year thanks to improved margins and growth in its lending and deposit base.Pre-tax operating profit in the three months to September was £1.7bn, compared with £1.3bn in the same period last year and above analyst expectations of £1.5bn. Revenues rose to £3.7bn, slightly above forecasts. The bank now expects its return on tangible equity — a key measure of profitability — to be above…

As betting markets and polls begin tentatively to suggest a Donald Trump election win, yields in 10-year Treasuries have risen. Some on Wall Street think that is because traders believe Trump will win, bringing with him inflationary spending and policies. Today on the show, Rob Armstrong discusses what the bond market knows with Derek Brower, the FT’s US political news editor. Also we go long Coca-Cola, and short a decisive election result. For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedofferYou can email Robert Armstrong at robert.armstrong@ft.com and Katie Martin at katie.martin@ft.com. Read a transcript of this…

Keep abreast of significant corporate, financial and political developments around the world. Stay informed and spot emerging risks and opportunities with independent global reporting, expert commentary and analysis you can trust.Subscribe to unlock this article Try unlimited access Only $1 for 4 weeks Then $75 per month New customers only Cancel anytime during your trial Explore our subscriptionsIndividualFind the plan that suits you best.ProfessionalPremium access for businesses and educational institutions.Check if your university or organisation offers FT membership to read for free. Source link