Author: Press Room

Stay informed with free updatesSimply sign up to the Pensions industry myFT Digest — delivered directly to your inbox.Rachel Reeves faced resistance from pension funds on Tuesday over plans that would give ministers a “backstop” power to force them to honour a new voluntary pact to invest up to £50bn in private assets.Asked whether she would mandate pension funds to push more cash into the economy — including an estimated £25bn into UK companies, infrastructure and property — the chancellor said “never say never”.Treasury officials confirmed that a new pension schemes bill, expected in the summer, would give ministers a…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.UnitedHealth Group has said former chief executive Stephen Hemsley will return to the helm as its current boss Andrew Witty steps down amid a tumble in the US healthcare giant’s shares.The group on Tuesday said Witty was quitting the top job immediately for “personal reasons” as it suspended its annual outlook. UnitedHealth shares were down almost 12 per cent in early Wall Street trading, taking the stock’s year-to-date loss to about 34 per cent.Witty, who was appointed chief executive in 2021, has…

The Eurovision Song Contest has brought in lawyers, following rehearsal footage of the competition being leaked online, after a “potential hack” of an online feed.Switzerland, where the competition began in Lugano in 1956, will host Tuesday’s first 2025 semi-final in Basel.It will see the Netherlands return to the stage after their act was kicked out of the competition shortly before the final last year.When asked about rehearsal leaks at a press briefing on Tuesday, the European Broadcasting Union’s Eurovision director Martin Green said: “We have to send signal out to the juries during those shows and amongst our different members,…

ISLAMABAD: Pakistan’s army announced on Tuesday (May 13) a new death toll of 40 civilians and 11 military service members killed last week in the worst confrontation with India in decades. The nuclear-armed neighbours engaged in four days of tit-for-tat strikes that threatened to escalate into all-out war before US President Donald Trump announced a ceasefire on Saturday he said Washington brokered. Pakistan’s army said in a statement that India’s “unprovoked and reprehensible dastardly attacks” killed 40 civilians, including seven women and 15 children. “While defending the motherland with exemplary valour, 11 personnel of the Pakistan Armed Forces embraced martyrdom and 78…

NEWYou can now listen to Fox News articles! NCAA President Charlie Baker said Monday he was “up for anything” when asked about reports that President Donald Trump is set to create a commission on college sports.The presidential commission would tackle issues the college sports landscape faces with former Alabama Crimson Tide football coach Nick Saban and billionaire Cody Campbell leading it, Yahoo Sports reported last week.LICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM Then-former President Donald Trump prepares to throw a football to the crowd during a visit to the Alpha Gamma Rho, an agricultural fraternity, at Iowa State University…

American presidents have been visiting Saudi Arabia for decades, and the trips have often produced memorable moments — some dramatic, others downright odd.As President Trump returns to Saudi Arabia, here is a look back at four moments from past presidential trips to visit leaders of the oil-rich Gulf state.2022: The Biden Fist BumpThe relationship between the United States and Saudi Arabia appeared to be wilting before President Joseph R. Biden Jr. visited Jeddah in 2022.Mr. Biden, as a candidate in 2019, had vowed to turn Saudi Arabia into a “pariah” over the killing of the Washington Post journalist Jamal Khashoggi,…

President Trump is set to deliver remarks Tuesday at a U.S.-Saudi investment summit and will sign agreements for the Pentagon, Justice Department, FBI and other agencies to cooperate with their Saudi Arabian counterparts.  Mr. Trump and Crown Prince Mohammed bin Salman announced multiple economic and defense agreements, an indication of Mr. Trump’s intent to deepen U.S.-Saudi ties, despite long-held concerns from State Department reports and human rights groups about its restriction of civil liberties and political rights.The president arrived in Saudi Arabia earlier Tuesday, the first stop on a four-day trip to the Middle East for Mr. Trump. The trip…

Morehouse College, the storied Atlanta school, named F. DuBois Bowman as its next president on Tuesday, as historically Black colleges grapple with the Trump administration’s intentions for campuses nationwide.Dr. Bowman, who will start on July 15, has been dean of the University of Michigan’s public health school since 2018. He is poised to assume Morehouse’s helm at a fraught moment in higher education, as President Trump seeks to upend academic life and stamp out diversity, equity and inclusion efforts that had become common on campuses.Leaders of historically Black colleges and universities, such as Morehouse, have been left to weigh Mr.…

Prime Minister Mark Carney is set to reveal his new cabinet in an overhaul that is expected to see a slate of senior and junior ministers, with more than 50 per cent of the MPs expected to be first-timers, sources tell Global News. Carney and his ministers will arrive at Rideau Hall Tuesday morning, with the ceremony to begin at 10:30 a.m. eastern.The cabinet, according to sources, will be separated into two groups.The first group will be made up of fewer than 30 senior ministers, holding portfolios including foreign affairs, defence and the minister poised to lead negotiations with the…

Check out the companies making headlines in premarket trading. UnitedHealth — Shares dropped 7% in the premarket Tuesday after the company announced it was suspending its 2025 outlook due to higher-than-expected medical expenditures. UnitedHealth also announced CEO Andrew Witty was stepping down, effective immediately, for personal reasons. Stephen Hemsley will replace Witty as chief executive. Rigetti Computing — Shares tumbled 11.4% after the quantum computing firm recorded $1.5 million for first-quarter revenue, below the $2.6 million consensus forecast from analysts polled by FactSet. Coinbase — Shares rallied 9.2% following the announcement that the crypto trading platform will join the S…