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...Bondholders who invested in additional tier 1 — or AT1 — securities lost $17bn when UBS took over its rival Credit Suisse last March....
...Omar Sultan al Olama, the UAE’s AI minister, said more than 1,000 companies with a focus on AI were now operating in the Gulf state....
...Golden acknowledged the problem, saying last year was “arguably the worst” in his time running Princo....
...In a study published last year, Transparency International’s Spain arm said the country had granted 2,700 visas to Chinese citizens and more than 1,100 to Russians....
...A year later, the debt was refinanced by Credit Suisse. Internally, the deal was viewed as a big success: the bank earned more money and was paid back faster than anticipated....
...The author is vice-chair at Oliver Wyman Private credit firms have enjoyed a “golden moment”, as Blackstone president Jonathan Gray put it last year, while banks have been on the back foot from the sharpest...
...This prompts the question of whether the ‘golden age’ of private credit’s capital deployment is behind us....
...As part of the lifeline to help the company through the next four months, the French government will provide a €50mn loan, and will acquire golden shares in the parts of Atos deemed strategically essential...
...On Tuesday, Italy’s finance ministry also cut its growth forecast for this year to 1 per cent, down from its 1.2 per cent forecast in September but still above the 0.6 per cent foreseen by the Bank of Italy...
...The $34bn portfolio suffered a 1.7 per cent loss last year, mainly because of the underperformance of the portfolio....
...In Canada and France, the ratio of state-to-charity funding for cancer was 3:1 and 2:1, respectively....
...This is the set-up for Sugar, a new series on Apple TV+ which delivers an affectionate homage to the golden age of silver-screen crime dramas for precisely six of its eight episodes....
...Residential property prices fell 0.3 per cent in the EU in 2023 and 1.1 per cent in the eurozone, according to data from Eurostat on Thursday....
...Email me: alan.livsey@ft.com. 1) Lex felt it was time to get something off its chest. Oil prices do not seem to reflect any fear of a Middle East conflagration....
...Of the USW’s 1.2mn members, only about 11,000 work for US Steel. Their fear is that Nippon will close the ageing blast furnaces where most of them work....
...chain had also agreed to allow customers to tip workers with credit cards at unionised stores for the first time in a “sign of good faith.”...
...Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. Special thanks to Pierre Nicholson. CREDIT: UAW Read a transcript of this episode on FT.com...
...The National Labour Relations Board on Tuesday said petitions for union representation elections continue to “surge”, and increased 35 per cent from a year ago to 1,618 in the first half of fiscal year 2024...
...It said the US would continue to outperform in 2025 with growth of 1.9 per cent, versus 1.5 per cent in the euro area....
...But he has not finalised a deal with unions ahead of a crunch meeting in mid-April. “We are going to help families,” he said, adding that bonuses could go from €500 to €1,500....
...According to the IPCC, “all pathways that limit global warming to 1.5C with limited or no overshoot” require carbon dioxide removal at a massive scale, between 100bn and 1,000bn tonnes this century....
...The report said government spending on the state pension, pension credit and winter fuel payment was expected to be £132bn in 2023-24, or 5.1 per cent of national income....
...Adams, as the golden generation lives on....
...In the fiscal year ending in June 2023, Princeton’s endowment returned a negative 1.7 per cent, leaving its value at $34bn....
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