One scoop to start: Macquarie-controlled Southern Water asked Ares Management and other lenders to write off about £370mn of debt, in an effort to allow new equity to flow directly into the utility’s heavily-indebted operating company. And another thing: Activist investor Elliott Management has won the backing of influential proxy adviser Institutional Shareholder Services for … Read more
Stay informed with free updates Simply sign up to the Pensions industry myFT Digest — delivered directly to your inbox. Rachel Reeves will on Tuesday set out contentious “backstop” plans to force large pension funds to invest up to £50bn in private assets if they fail to meet voluntary targets in a new “Mansion House … Read more
Stay informed with free updates Simply sign up to the US equities myFT Digest — delivered directly to your inbox. US stocks soared on Monday as investors bet that the tariff agreement between Washington and Beijing meant Donald Trump’s trade war was moving beyond its most intense phase. The blue-chip S&P 500 ended the day … Read more
Stay informed with free updates Simply sign up to the Cryptocurrencies myFT Digest — delivered directly to your inbox. American Bitcoin, the US cryptocurrency miner backed by Eric and Donald Trump Jr, will list its new venture on Nasdaq, aiming to tap into investors’ enthusiasm for equity vehicles that stockpile cryptocurrencies. The company, formed at … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. For sale: a giant heap of a much-used and politically strategic metal bouncing back from historically low prices, wrapped in a listed company. While it may sound like an odd pitch, the case for Cobalt … Read more
US Treasury secretary Scott Bessent has suggested US tariffs on Chinese goods will not be reduced any further following Washington’s interim deal with Beijing, as he held out the prospect that the duties could stabilise close to their current levels. In an interview with Bloomberg, Bessent described the 90-day deal as a “pause” that brought … Read more
Stay informed with free updates Simply sign up to the US equities myFT Digest — delivered directly to your inbox. Sorry about the dual Y axis on the following chart. Blame Citigroup, not us: CY ‘25 Consensus Gross Margins by Size (Last 1Y) © Citi Research, Bloomberg It shows the average expected profit margin edging … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Cobalt Holdings has said it plans to list in London in June in an initial public offering that will see commodities trader Glencore take a 10 per cent stake in the metal investment company. Cobalt … Read more
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