Author: News Room

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Thousands of Brazilians joined an independence day rally called by members of the rightwing opposition in protest against a supreme court judge who banned Elon Musk’s social media platform X in the country. Dressed in the national colours of yellow and green, attendees at Saturday’s demonstration in São Paulo held posters demanding the removal of justice Alexandre de Moraes, who has attracted controversy for a wide-ranging crackdown on digital disinformation. “I came here today in favour of freedom of expression. The constitution is being…

Introduction I don’t think JPMorgan (NYSE:JPM) needs to be introduced to any investor. As a US-based financial conglomerate, the financial institution is a household name. While I also like the company from an earnings perspective, its dividend yield is currently pretty low at 2.1%. That’s why I focused on the bank’s preferred securities in previous articles as I still believe the combination of owning common stock for capital gains and preferred stock for the income is the best way to be invested in JPMorgan. Data by YChartsNo need to be worried about JPMorgan’s ability to generate a profit – loan…

They’re not on any of the major television networks, but they have millions of viewers. Now, the Justice Department is alleging that some of the biggest stars in right-wing social media were, unwittingly, part of a sinister Russian operation to influence the 2024 US election. The personalities weren’t directly named or accused of wrongdoing by the Justice Department, but court documents unsealed Wednesday revealed Russian state media producers funneled nearly $10 million to an unnamed Tennessee-based online media company. The company, identified by CNN as Tenet Media, boasts a slate of high-profile right-wing commentators as “talent,” including Tim Pool, Benny Johnson, Lauren Southern, Tayler Hansen, Matt Christiansen and Dave Rubin, collectively boasting millions of followers across social media platforms. Two Russian state…

Big banks are jumping headfirst into the AI race. Over the past year, Wall Street’s largest names — including Goldman Sachs , Bank of America , Morgan Stanley , Wells Fargo to JPMorgan Chase — ramped up their generative artificial intelligence efforts with the aim of boosting profits. Some are striking deals and partnerships to get there quickly. All are hiring specialized talent and creating new technologies to transform their once-stodgy businesses. The game is still in its early innings, but the stakes are high. In his annual shareholder letter, JPMorgan CEO Jamie Dimon compared artificial intelligence to the “printing…

CIA Director William Burns believed there was a real risk in the fall of 2022 that Russia could use nuclear weapons on the battlefield against Ukraine, though he said the West should not be intimidated by Russian President Vladimir Putin’s threats. “None of us should take lightly the risks of escalation,” Burns said Saturday in a moderated conversation with the U.K.’s secret intelligence chief Richard Moore at the Financial Times Weekend Festival.”There was a moment in the fall of 2022 when I think there was a genuine risk of the potential use of tactical nuclear weapons,” Burns said.”I have never…

Mortgage rates dipped a bit this week, still holding steady around the mid-6% range while demand remains weak in the housing market. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage ticked down to 6.46% this week from 6.49% last week. The average rate on a 30-year loan was 7.23% a year ago. “Although mortgage rates have stayed relatively flat over the past couple of weeks, softer incoming economic data suggest rates will gently slope downward through the end of the year,” said Sam Khater, Freddie Mac’s chief economist. “Earlier…

The IRS is asking for comments about a new way to save for retirement. The super-charged saver’s match builds on the existing saver’s credit and has been described as “an important opportunity to improve the long-term financial security for millions of low- to moderate-income Americans.” Under the plan, beginning in 2027, qualifying individuals making annual contributions of up to $2,000 to certain retirement plans will be eligible to receive up to $1,000 in a saver’s match contribution from the Treasury each year. The Saver’s Match is made possible by the SECURE 2.0 Act of 2022. Background SECURE 2.0 Act is…

She asked Trump about childcare. Why she says his answer means he’s ‘not fit to be president’ CNN’s Jake Tapper interviews Reshma Saujani, who asked former President Donald Trump about his ideas for addressing the cost of childcare in the US at an event for the Economic Club of New York. Read the full article here

Stay informed with free updatesSimply sign up to the Equities myFT Digest — delivered directly to your inbox.US stocks suffered their worst week in more than a year, as weak economic data and cautious commentary from central bankers added to investor concerns over a possible economic slowdown.Wall Street’s benchmark S&P 500 dropped 1.7 per cent on Friday, bringing its loss for the week to 4.2 per cent — its worst weekly drop since March 2023.Large tech stocks were particularly badly hit, and the tech-dominated Nasdaq Composite had its sharpest weekly fall since January 2022, dropping 5.8 per cent, including a 2.6…

NEW YORK (September 6) — The Bureau of Labor Statistics (BLS) announced 142,000 new jobs this morning, according to the Establishment Survey, a collection of job creation data from businesses. The number is well below the 165,000 consensus estimate. June and July jobs creation figures were also revised down by 61,000 and 25,000 new jobs, respectively, bringing the average non-farms jobs creation figure for the last three months to a less-than-robust 116,000 new jobs. The BLS’s Household Survey, which polls the number of people taking jobs, and is viewed as eliminating workers taking more than one job, printed higher at…