I helped bring in US bank stress tests. Now it is time to drop them
The time-consuming ritual risks misleading the public about the true health of the financial system
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Financial Times
Global business from the Financial Times
Business · 1843 articles · page 46 of 52 · fetched 8 minutes ago
Fed dissenters warn of challenges in taming inflation
Three rate-setters rebelled against US central bank’s majority decision to hold rates steady this week
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Burnham says Infantino is ‘wrong man’ to lead Fifa after stake-sale plan
UK prime minister’s intervention raises pressure on Fifa president after resignation of a top adviser
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Chevron and Exxon earnings soar as Trump threatens price interventions
Rise in profits comes amid increasing political scrutiny ahead of US midterm elections
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South Korean stock market soars 18% as investors pile back into AI
Chipmakers rebound at end of bruising month for the sector, helped by Wall Street rally
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Coal back in favour as US plant bidding war highlights rising demand to power AI
Top utility fought ‘aggressively’ to outbid data centre developer for control of West Virginia facility
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Eurozone inflation rises to 2.9% in July
Energy shock will keep the ECB on alert ahead of September rate decision
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Trump says Hamas has agreed to disarm over time
US president claims Board of Peace reached breakthrough in Gaza talks
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We’ve moved from income world to wealth world
Passive wealth gains increasingly matter more than earnings for one’s standing in society
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JPMorgan walks into another football firestorm
After getting caught up in the Super League controversy, the US bank has been instrumental in Fifa’s plans to raise…
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Russia targets hundreds of Ukrainian petrol stations
Missile and drone attacks on highly flammable fuel stops seen as retaliation for Kyiv’s strikes on refineries
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China is smarter about subsidies than everybody else
Beijing is stealing a march on its competitors by targeting strategic sectors
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The return of Boeing
The US aviation giant is winning back trust after a near-decade strewn with disasters. Now it needs to make money again
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Big Tech AI spending spree tops $1tn
Google, Amazon, Microsoft and Meta have vastly increased their investments since the AI boom began in 2023
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How Leopold Aschenbrenner, the ‘golden child’ of the AI trade, was laid low
The $20bn hedge fund manager’s wild ride ended with a call to Ken Griffin
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Anthropic’s Claude AI models hack into 3 outside groups during testing
Start-up discloses breach a week after rival OpenAI reported similar incident
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Trump ‘not sure’ he will let Ukraine build Patriot missiles
US president had earlier said he would allow Kyiv to produce the weapon vital for its defence against Russia
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Amazon increases AI infrastructure spending to $220bn this year
Seattle-based group had in April expected to spend $200bn in 2026
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Saudi Arabia announces maritime defence coalition as Houthi attacks threaten Red Sea route
Fourteen countries, including Pakistan, Turkey, Egypt and Sudan, vow to protect shipping and energy supplies
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Apple defies smartphone downturn with strong iPhone sales
Smartphone revenue rose more than a fifth as rivals struggle
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Skirts and sandwiches fail to excite cautious IPO investors
Reformation and Jersey Mike’s test market appetite for consumer sector that has faced twin pressures
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Fifa’s $20bn commercial spin-off at risk as Europe unites behind World Cup boycott
Concacaf joins Uefa in opposing Gianni Infantino’s plan to bring outside capital into football
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Madrid deploys army as thousands of Moroccans swim to Spanish enclave
Mass arrivals in Ceuta heap further pressure on embattled Prime Minister Pedro Sánchez
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Mark Zuckerberg is becoming the king of the ‘side quest’
Meta is working on a plethora of products outside its comfort zone — and the side hustles come with high stakes
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Citadel buys Situational Awareness equity holdings after steep AI losses
Deal comes after Leopold Aschenbrenner’s investment firm held overnight crunch talks with investors
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Kevin Warsh’s concerning communication style
Fed chair’s press conference exposes the shortcomings of his approach
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China is not the solution to the US chipflation problem
Buying memory chips from companies like CXMT could lower costs but risks dependence
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Microsoft adds record $480bn in market cap as results cheer investors
Revenue in tech group’s intelligent cloud segment surges 32% to $39.3bn
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Are investors really getting cold feet about the AI boom?
It is not clear whether there has been a serious change of heart about the trade underpinning the stock market
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Japan’s yen jumps 3% as speculation over intervention swirls
Currency on track for one of its biggest moves in recent years amid growing calls for action to arrest slide
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Warsh’s stripped-back Fed communication ‘already backfiring’, say investors
Traders warn lack of guidance on interest rates erodes US central bank’s influence on Treasury market
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Trump says he could pull Todd Blanche’s attorney-general nomination
President’s suggestion comes as two Republican senators threaten to torpedo top lawyer’s confirmation process
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Ferrari profits boosted by AI wealth and hyper-personalisation boom
Custom services set to account for as much as 20% of revenue, Italian luxury-car maker says
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US economy grew less than expected at 1.5% rate in second quarter
Slowdown comes amid continued impact from Middle East war
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