Trump world tries to corner crypto

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One scoop to start: Citadel Securities’ profits jumped nearly 70 per cent in the first quarter to $1.7bn, as the high-speed trading firm benefited from a surge of volatility across financial markets as Donald Trump retook office. Another scoop: McKinsey has cut more than 10 per cent of its staff in the past 18 months, … Read more

Elon Musk criticises Donald Trump’s ‘big, beautiful’ tax bill

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Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Elon Musk has strongly criticised Donald Trump’s showpiece tax bill, claiming it “undermines” the work done by his government cost-cutting team, in comments that are likely to widen the rift between the billionaire … Read more

US government will not renew Chevron’s Venezuela oil licence

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Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world The US has said it will not renew Chevron’s oil licence in Venezuela, as Donald Trump’s administration hardens its stance towards President Nicolás Maduro’s authoritarian government. The decision, announced by the US state … Read more

Nigeria’s shock therapy

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. For years, Nigeria has been not so much a sleeping giant as a comatose one. Home to nearly one in five sub-Saharan Africans, its market of 230mn people should be an engine of continental growth. … Read more

UK bioethanol factories face closure after Trump trade deal

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Britain’s only two bioethanol production plants are facing closure after the UK agreed to remove tariffs on US ethanol imports under its recent trade pact with America, the industry has warned. The so-called “prosperity deal” … Read more