British Steel’s Chinese owner pushed for £1bn state support for Scunthorpe plant

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Chinese owner of British Steel wanted close to £1bn from the government to keep its Scunthorpe plant open and move to greener methods of steel making, according to people familiar with the situation.  The … Read more

CoreWeave falls in market debut after downsized IPO

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. CoreWeave shares fell on their US debut after the data centre operator downsized its initial public offering over concerns about its business model and waning exuberance in groups linked to artificial intelligence. The cloud computing … Read more

Galaxy Digital pays $200mn to settle luna crypto-trading probe

Stay informed with free updates Simply sign up to the Cryptocurrencies myFT Digest — delivered directly to your inbox. US billionaire Mike Novogratz’s cryptocurrency group Galaxy Digital will pay $200mn to settle an investigation by New York regulators into alleged manipulation of the token whose failure kicked off the 2022 crypto market collapse. In a … Read more

Sympathy for the sovereign credit analyst

Sovereign credit analysts have a great life. They’re paid to fly around the world, rub shoulders with policy movers and shakers, build glorious Excel workbooks, and dispense important opinions. Moreover, these opinions don’t need to change very often. It’s probably preferable if they don’t. In the case of the United States government there have been … Read more

Public markets risk becoming a dumping ground for bad companies

Livingston, New Jersey (population 31,330) has always punched above its weight. Its residents have included Seinfeld’s Jason Alexander, my novelist brother Harlan, and Genovese crime family capo Ritchie “The Boot” Boiardo, who some say inspired The Sopranos. Its main landmark is the Livingston Mall, which opened to great fanfare in 1972 and has since slid … Read more