Author: Lily Harper

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The Bank of England has announced a one-year delay to key provisions in the post-financial crisis banking reforms as part of a raft of changes designed to ease capital requirements for UK lenders.The central bank said on Tuesday it would delay from 2027 to 2028 the application of the part of the so-called Basel III package that applies to the wholesale trading activities of investment banks, to allow more time for the US to decide how to apply them.The delay, which comes…

Stay informed with free updatesSimply sign up to the Fintech myFT Digest — delivered directly to your inbox.Starling Bank is examining the case for listing in New York, as the UK digital bank presses ahead with an expansion into the US.Declan Ferguson, the chief financial officer of the London-based fintech, told the Financial Times that Starling was currently weighing a US listing, where it could potentially achieve a higher valuation.“We continue to observe what is happening externally with our peers, and also what is happening on the global stage in terms of the UK versus US [stock markets],” he said.…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The writer is chief executive of Lloyds Banking Group and a member of the British Infrastructure Taskforce and the Defence & Economic Growth TaskforceThere has been some sobering news on the state of the UK economy over the past week. Weaker than expected data showed a contraction in GDP in May, the second month in a row of decline. That came after a warning by the Office for Budget Responsibility that the country’s ability to respond to future shocks has been severely weakened.…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Calpers, the largest public pension fund in the US, has signalled an appetite for more exposure to private equity despite concerns that these assets could expose retirees to too much risk. Stephen Gilmore, chief investment officer of the California Public Employees’ Retirement System, said it was “reasonable to expect our private equity exposure will continue to increase somewhat”. Despite concerns about lower than expected returns from some managers and the reliability of private valuations, Calpers has already boosted its allocation to private equity…

Stay informed with free updatesSimply sign up to the Cryptocurrencies myFT Digest — delivered directly to your inbox.We try, valued reader. We really do try. We want to approach all types of tokenised finance with an open mind. Maybe one day, someone will invent something to do with a blockchain that’s not crime, self-enriching grift, black-box frippery, or a distributed Ponzi scheme. We’re ready to reverse ferret a long-standing editorial line, should useful innovation ever happen, so we need to put in the work.But sometimes . . . but sometimes . . . we just want to skip all that and show you a press release. Here’s…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Sometimes — when researching other things — we come across data sets that are just too cool not to share.In this case it’s a snapshot of all the world’s financial assets held by all the world’s financial entities at the end of 2023 — all $480tn of it:Some content could not load. Check your internet connection or browser settings.The data comes from the Financial Stability Board — the international body that monitors and makes recommendations about the global financial system. It’s analysed…

Stay informed with free updatesSimply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox.US investors are relaunching a key Ukrainian grain export terminal after wresting control from alleged looters, in a test of Kyiv’s ability to attract capital to rebuild its economy in its fourth year of war.US-based funds Argentem Creek Partners and Innovatus Capital Partners have taken over the Olimpex terminal in the port of Odesa, after securing victory in a saga of alleged loan fraud that underlines the challenges of reviving international investment in wartime Ukraine.Sustained Russian attacks on infrastructure and fading…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.After decades during which pensions in many parts of the world have been de-risked — spurred by scandal, accounting changes and other policy tweaks — the pendulum is fast swinging the other way. In many instances that may be appropriate. In others it may be open to abuse.Consider the case of Italy’s sales rep pension scheme Enasarco, which was revealed last week to have allocated 67 per cent of its entire European equities portfolio to one stock, Mediobanca. That group is at…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Jane Street has deposited more than $560mn of what India’s markets regulator has called “illegal gains” in an escrow account to comply with an order that banned the company from trading securities over alleged market manipulation.The Securities and Exchange Board of India said on Monday that Jane Street had informed the regulator that Rs48.4bn ($564mn) “has been credited to an escrow account with a lien marked in favour of Sebi”.The deposit is a precursor to lifting a trading ban imposed by Sebi…

Welcome to FT Asset Management, our weekly newsletter on the movers and shakers behind a multitrillion-dollar global industry. This article is an on-site version of the newsletter. Subscribers can sign up here to get it delivered every Monday. Explore all of our newsletters here.Does the format, content and tone work for you? Let me know: harriet.agnew@ft.com One podcast to start: the FT’s Unhedged Podcast looks at three surprises that might spook the markets. In today’s newsletter:A new twist on an old bet with BuffettAn Apollo-backed insurer is coming for the UK’s pensionsDutch pension funds set to sell €125bn of government…