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US Fed holds interest rates and defends central bank independence
Two Fed officials voted in favour of an interest rate cut – Stephen Miran, who is on leave from his post at the White House where he leads Trump’s Council of Economic Advisers, and Christopher Waller, a Trump appointee whose name has been floated as contender to succeed Powell.
TikTok owner signs join venture agreements to avoid US ban
TikTok’s Chinese owner ByteDance has signed binding agreements with US and global investors for the majority of its business in America, TikTok’s boss told employees on Thursday. Half of the joint venture will be owned by a group of investors, including Oracle, Silver Lake and the Emirati investment firm MGX, according to a memo sent…
Global dealmaking hits $4.5tn in second-best year on record
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Global dealmaking topped $4tn this year for the first time since the boom of 2021, as a record number of megadeals lifted investment banking fees to their second-highest level ever. A total of 68 deals…
Why your chocolate is getting smaller, more expensive and less chocolatey
Archie MitchellBusiness reporter Getty Images Crack open a tub of Celebrations or pull a Terry’s Chocolate Orange from a stocking these days, and have you noticed, there seems to be a little less to go around? Not only that, you might find – no, it is not your imagination – that some popular treats taste…
Elon Musks Grok AI image editing limited to paid users after deepfakes
Elon Musk’s platform X has limited image editing with its AI tool Grok to paying users, after it came under fire for allowing people to make sexualised deepfakes. There has been a significant backlash after the chatbot honoured requests from users to digitally alter images of other people by undressing them without their consent. But…
Watch: How war in Iran may affect food and fuel prices
As the US and Israel continue strikes on Iran, and with retaliatory strikes hitting nearby Middle East states, key shipping routes are being disrupted. Oil and gas production in the region is also being affected. The BBC’s Nick Marsh examines how the war could cause a rise in living costs around the world.
