Author: Press Room

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Blackstone chief executive Stephen Schwarzman took home more than $1bn in 2024 as the private equity titan saw his income rise due to a rebound in investment activity at the world’s largest alternative investment group, according to the company’s annual report released late on Friday.Schwarzman’s income marked a 9 per cent increase from the prior year, fuelled entirely by rising dividend payments from his enormous Blackstone shareholding. The Blackstone co-founder owns 19 per cent of the New York-based investment group and has…

Jim Marquardt was 16 and seeking some privacy. He had an important letter to write and his short attention span couldn’t compete with the TV in the living room, so he retreated upstairs to his sister’s bedroom.He shut the door and started scribbling. It was a Saturday night, and while his brain was telling his right hand what to write on the white legal pad, his ears were listening to the St. Louis Blues hockey game. He loved the team and specifically its goaltender, Mike Liut. He tuned into KMOX radio to hear Hall of Fame broadcaster Dan Kelly belt…

Warren Buffett at a press conference during the Berkshire Hathaway Shareholders Meeting on April 30, 2022.CNBCLegendary investor Warren Buffett made a rare comment on President Donald Trump’s tariffs, saying punitive duties could trigger inflation and hurt consumers.”Tariffs are actually, we’ve had a lot of experience with them. They’re an act of war, to some degree,” said Buffett, whose conglomerate Berkshire Hathaway has large businesses in insurance, railroad, manufacturing, energy and retail. He made the remarks in an interview with CBS News’ Norah O’Donnell for a new documentary on the late publisher of the Washington Post, Katharine Graham. “Over time, they are…

Shares in Star Entertainment have been suspended from trading on the public markets again on Monday, spelling more trouble for the embattled gaming giant and its 9000 employees.The Australian Securities Exchange notified the market of the suspension on Monday morning, stating shares in the company would be placed into a trading halt after the company failed to lodge its half-year accounts on Friday.Star’s shares have now been on hold since Friday.On that day, the Board admitted there was “material uncertainty” about the company’s ability to continue as a “going concern”, meaning a collapse was potentially imminent.“The company is continuing to…

China will likely moderately step up fiscal and monetary policy, but it does not necessarily benefit other countries as much as during the global financial crisis. The massive stimulus package at that time was 4 trillion yuan, equivalent to 11 per cent of gross domestic product in 2008. It was a big boost to China’s domestic demand mainly through credit expansion and infrastructure investment but with a cost of higher government debt. Other countries benefited as China imported more goods and commodities, cushioning the global shock in demand. Things are different this time for two reasons. First, the Chinese government is…

new video loaded: Starmer Vows to Assemble ‘Coalition of the Willing’ to Help UkrainetranscriptBacktranscriptStarmer Vows to Assemble ‘Coalition of the Willing’ to Help UkrainePrime Minister Keir Starmer of Britain said he would work with other European leaders to develop a plan for ending the war in Ukraine. They hope the effort will win the backing of President Trump.“Through my discussions over recent days, we’ve agreed that the U.K., France and others will work with Ukraine on a plan to stop the fighting. Then we’ll discuss that plan with the United States and take it forward together. We will go further…

Canadian Prime Minister Justin Trudeau will meet with King Charles III, the country’s head of state, on Monday where he will discuss U.S. President Donald Trump’s threats to make Canada the 51st state.The king has come under criticism in Canada for being silent about Trump’s threats to annex Canada.Trudeau said in London on Sunday he will discuss matters of importance to Canadians with Charles and said “nothing seems more important to Canadians right now than standing up for our sovereignty and our independence as a nation.”Charles is the head of state in Canada, which is a member of the British Commonwealth…

Defense Secretary Pete Hegseth has ordered U.S. Cyber Command to halt offensive operations against Russia, according to a current official and two former officials briefed on the secret instructions. The move is apparently part of a broader effort to draw President Vladimir V. Putin of Russia into talks on Ukraine and a new relationship with the United States.Mr. Hegseth’s instructions, part of a larger re-evaluation of all operations against Russia, have not been publicly explained. But they were issued before President Trump’s public blowup in the Oval Office with President Volodymyr Zelensky of Ukraine on Friday.The precise scope and duration…

With about two weeks left of winter, Alberta’s wildfire season – and funding for fire preparedness – have already begun. The province’s wildfire season officially begins on March 1 and runs until Oct. 31. According to provincial numbers, Alberta kicked off the season with 10 active wildfires, down from 60 at the same time last year.This week’s Alberta budget had $7.5 billion allocated over three years for municipal infrastructure support, which included $47 million for wildfire management for communities. Broken down, it includes $22 million for wildfire enhancements, $19 million for a facility upgrade program and $6 million for management…

This is going to hurt.The pragmatist in Sydney coach Dean Cox is never one to waste time with pretence.”I said that to the players. Pre-Christmas, I said, this is going to be clunky,” Cox told AAP.”It’s going to not feel right at times. We’re going to get exposed, and I don’t know when it’ll all gel.”Figuring out how to guide an AFL team after a heartbreaking grand final loss as a first-year coach can be a bit like that.Even more so when the team had also been belted in a grand final only two years previously, and have lost four…