Author: News Room

Stay informed with free updatesSimply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox.G7 finance ministers have backed the idea of issuing a loan to Ukraine, secured by profits on frozen Russian assets, in an effort to secure financing for Kyiv beyond 2024.Ministers’ discussions were based on a US proposal that circulated ahead of the gathering in Stresa, Italy, to issue a loan of about $50bn to be repaid with profits from around €190bn Russian central bank assets. The Russian assets are stuck in Belgian central securities depository Euroclear.On Saturday, ministers said they were…

Things have gone mostly according to plan since I last covered the iShares MSCI Turkey ETF (NASDAQ:TUR) (see TUR: Deck Cleared, Turkish Equities Headed Higher Post-Election), the largest and most liquid Turkish large-cap tracker fund listed in the US. To recap, following a period of unorthodox policies pre-election, we’ve seen a significant post-election focus on macro stabilization, led by finance minister Mehmet Simsek. As for the monetary side, the current administration, despite some reshuffling at the head of the central bank, has overseen a faster-than-expected pace of interest rate hikes, underlining its commitment to a much lower inflation target (25%…

Last updated: May 25, 2024 12:00 EDT | 2 min read The Delaware Supreme Court has ruled in favor of BitGo by overturning a lower court’s dismissal of the company’s $100 million lawsuit against Galaxy Digital.The lawsuit stems from a failed acquisition between the two entities.In its filing on May 22, the Delaware Supreme Court stated that the language used in the BitGo-Galaxy Digital $1.2 billion merger agreement was “ambiguous.”The ambiguity led the court to reverse the decision made by the Delaware Chancery Court and open the opportunity for the consideration of additional evidence to resolve the ambiguity.BitGo Can Pursue…

Boeing will present its plan to fix quality problems with its assembly line to US regulators next week, the company said Thursday. The plan was ordered up by the Federal Aviation Administration in late February after a hole blew open in the side of an airborne 737 Max a month earlier. The FAA said it audited the production line at Boeing and its key 737 Max supplier and found “multiple instances where the companies allegedly failed to comply with manufacturing quality control requirements.” It gave Boeing 90 days to present a plan — and that deadline is next week. Boeing chief financial officer…

Kristina Knighten and her husband, Paul Cordier, were living in the United Arab Emirates and working as TEFL-certified teachers when they decided they were serious about buying their first home in America.Knighten, 38, was raised in the Chicago suburbs, and Cordier, 45, was raised in London but loved the idea of living just outside the Windy City after having visited with Knighten over the course of their relationship and two-year marriage.”We knew we didn’t necessarily want to move back straight away but more as a long-term investment and we could maybe retire there,” Knighten tells CNBC Make It.The couple lived…

Cereal is still a breakfast staple for many Americans. The quick and easy meal was among America’s top 10 breakfast foods in 2019, according to a survey conducted by OnePoll in collaboration with Dave’s Killer Bread.Nutritionists highly recommend starting your morning with foods that will keep you energized throughout the day like protein shakes and whole grain oats, experts told CNBC Make It last January. And cereal doesn’t fit that category.”I never recommend cereal to my patients to have for breakfast, simply because it’s processed. I don’t recommend anything that’s processed,” said Dr. Nancy Rahnama, an internist and clinical nutritionist.But cereal…

College tuition can sometimes cost $10,000 more than budgeted, but despite the unexpected expense, many students are making ends meet, a recent survey said. About 66% percent of college students said college costs were more than they expected and 26% said that these costs rang in at about $10,000, according to a College Ave survey of college students at four-year universities conducted by Barnes and Noble College Insights. The cost of higher education remains a significant expense for families who often underestimate the price as costs have skyrocketed over the last 40 years, even after adjusting for inflation, according to figures reported by the Education…

Mortgage rates are back down below 7% this week. A 30-year fixed-rate mortgage averaged 6.94%, Freddie Mac reported. Rates for 30-year mortgages averaged 7.02% last week. Fixed rates for 15-year mortgages also declined, averaging 6.24%. This is down just slightly from last week when 15-year mortgage rates averaged 6.28%. Falling rates and an increasing housing inventory are bright spots in the housing market plagued by unaffordability the last few years.”Spring homebuyers received an unexpected windfall this week, as mortgage rates fell below the seven percent threshold for the first time in over a month,” said Sam Khater, Freddie Mac’s chief…

Most people are confused about how much money they need to retire comfortably, and financial services firms often add to the confusion. Two recent surveys show the confusion, especially when compared with other data. American adults say on average they now need $1.46 million to retire, according to the Northwestern Northwestern Mutual 2024 Planning & Progress Study. That’s 15% higher than a year earlier and a 50% increase since 2020. The increase is significantly more than the roughly 5% annual inflation during that period. In another survey, about 49% of workers said they needed more than $1 million, according to…

Biden campaign officials have no idea what next week will bring in Donald Trump’s hush money trial in New York – including whether the former president will be convicted or found not guilty or whether the whole saga will ultimately end in a mistrial. But regardless of precisely how the weeks-long historic trial ends, President Joe Biden’s reelection campaign is preparing to enter its next, more aggressive phase. On everything from the ads the campaign runs to the messaging and rhetoric that comes from the president himself to growing the campaign’s infrastructure, a person familiar with the campaign’s thinking said,…