Texas Republicans fail in move to curb renewable energy projects
Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world A campaign by rightwing lawmakers in Texas to limit renewable power projects has failed, underscoring the state’s commitment to all sources of energy as it strains to meet exploding demand. A package of … Read more
Private credit could ‘amplify’ next financial crisis, study finds
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Private credit is now so intertwined with big banks and insurers that it could become a “locus of contagion” in the next financial crisis, a group of economists, bankers and US officials has warned. Researchers … Read more
BlackRock-backed fintech raises funds to be ‘European Charles Schwab’
Stay informed with free updates Simply sign up to the Fintech myFT Digest — delivered directly to your inbox. Scalable Capital, a German investment platform backed by BlackRock, has raised €155mn in fresh equity at a valuation of about €1.5bn, as part of a push to become a pan-European investment powerhouse in the model of … Read more
Mark Carney courts oil industry in bid to Trump-proof Canada’s economy
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Mark Carney has vowed to work with Canada’s oil industry to boost production and reduce emissions, as the new prime minister touts an economic agenda to face down Donald Trump’s tariff threats. The Canadian leader … Read more
US moves to open Alaskan wilderness to oil drilling with Biden rule rollback
Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Donald Trump’s administration has begun a process to open swaths of Alaska’s wilderness to oil drillers by scrapping Joe Biden-era restrictions as the president pushes ahead with sweeping green rollbacks. The US interior … Read more
Saudi Aramco raises $5bn in bond sale as it grapples with lower oil prices
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Saudi Aramco, the world’s largest oil company, said on Monday it had raised $5bn in a bond sale as it positions for a downturn in oil prices and prepares for further borrowing. Aramco said demand … Read more
Google to spend $500mn on compliance to settle shareholder antitrust suit
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Google’s parent company Alphabet will spend at least $500mn over the next 10 years on rebuilding its global compliance structure, under the terms of a proposed settlement with shareholders suing it for alleged antitrust violations. … Read more
Fintech Chime readies IPO but faces drastically lower valuation
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Chime Financial will seek to raise up to $832mn in an initial public offering this month, giving the US mobile banking group an $11.2bn valuation that is sharply reduced from four years ago. The San … Read more
Dollar slides towards 3-year low as weak US data stokes economic fears
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The dollar slid towards a three-year low and US government bonds came under pressure on Monday as weak manufacturing data combined with growing warnings over the sustainability of the country’s debt pile to unnerve investors. … Read more