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Business
LVMH is suffering a vibe shift in the luxury business
Some art collectors in Hong Kong got a disappointing phone call from the auction house Phillips last week. They had consigned paintings for sale, anticipating a crowd of wealthy…
Gas prices decline despite Middle Eastern uncertainty: AAA
The average price of gas dropped to $3.64 for the week ending October 12, a 12-cent drop from the week prior, according to the latest report from AAA. Gas prices in the U.S.…
US banks: bigger is still better for now
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.America’s biggest banks are doing just fine. Businesses…
Microsoft completes $69B Activision Blizzard acquisition
Microsoft closed its $69 billion purchase of Activision Blizzard on Friday after clearing a series of regulatory hurdles since the deal was first announced in January 2022. …
SEC to require short selling data after softening proposed rule
Stay informed with free updatesSimply sign up to the US financial regulationmyFT Digest -- delivered directly to your inbox.Data on borrowed stocks will for the first time be made…
US housing market: Expert says ‘all hope is not lost’ for potential homebuyers
The U.S. housing market continues to pose significant challenges, but a recent report from real estate brokerage Redfin argues that there's still hope for potential buyers.…
Novo Nordisk raises profit guidance as weight-loss drug sales boom
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Soaring sales of weight loss and diabetes drugs Wegovy…
JPMorgan CEO Jamie Dimon warns: ‘This may be the most dangerous time the world has seen in decades’
JPMorgan Chase CEO Jamie Dimon kicked off bank earnings season on Friday with a stark warning about the perils facing the world today. The war in Ukraine, along with the…
Partners vote through Allen & Overy’s $3.5bn merger with Shearman
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Partners at “magic circle” law firm Allen & Overy and…
Autoworker union president who donned ‘eat the rich’ shirt is in top 5% of earners
The president of the United Auto Workers (UAW) labor union leading the ongoing strike against the largest three U.S. automakers earned hundreds of thousands of dollars last…