Author: Anthony M. Orbison

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Wealthy people leaving the UK in part driven by the government’s pledge to abolish the “non-dom” regime is hurting philanthropic funding for the already thinly spread arts sector, institutions and charities have warned. Caroline Douglas, director of the Contemporary Art Society, said donations it receives would fall by “hundreds of thousands” of pounds after a “handful” of non-domiciled backers said they would relocate because of proposed tax changes at the Budget. The loss of funds would be “a big deal”, Douglas said after a…

By Miho Uranaka and Sam Nussey TOKYO (Reuters) – Investors pushed Bain Capital to almost halve the valuation it was seeking for Japan’s Kioxia in an IPO, leading the U.S. buyout firm to scrap its plans for an October listing of the memory chipmaker, two sources said. Kioxia, known as Toshiba (OTC:) Memory when it was acquired from Toshiba by a Bain-led consortium in 2018 for 2 trillion yen ($13.4 billion), ditched the October IPO plan, Reuters reported last month, citing sources. That decision came after global investors wanted a market value of around 800 billion yen for the chipmaker,…

Crypto continues to gain momentum among younger investors, with 62% of Millennial ETF investors planning to allocate a portion of their portfolios to digital assets in the coming year, according to Charles Schwab’s 2024 ETFs and Beyond Study.For all investors surveyed, crypto ranked as the second most popular asset class, signaling a major shift in investment preferences. This marks a significant uptick in interest compared to older generations, where only 44% of Gen X and 15% of Boomer investors expressed similar intentions.The survey, conducted between July 2 and July 20, gathered insights from 2,200 investors, including 1,000 ETF investors and…

The Italian island of Sardinia has a problem with tourism. A few seasons back it brought in regulations to control overcrowding on its world-renowned beaches. These include restricted access, prebooking and towel bans.  Now, some tourism experts and operators want to broaden the island’s image from predominantly a sea and sun destination, which crams their tourism season into just a few months. They say this will make tourism more sustainable and lucrative, although everything from restaurant opening seasons to flight schedules will need to change–will the shift work for this summertime island? Sardinia imposes visitor caps and towel bans on…

The automobile industry has battled financial distress in the last year with several companies filing bankruptcy.The most significant bankruptcy in the auto industry occurred on June 18 when electric vehicle maker Fisker Group filed for Chapter 11 protection to shut down operations and liquidate its assets. Don’t miss the move: Subscribe to TheStreet’s free daily newsletterAuto parts companies under financial distress include e-commerce auto parts retail business PartsID, which filed for Chapter 11 in December 2023. The company sells auto parts to consumers online through various websites, such as TruckID.com, CardID.com and CamperID.com.Related: Popular grocery chain closes down in bankruptcy…

Este artículo también está disponible en español. In a development that could offer relief for Bitcoin (BTC) and the broader crypto ecosystem, Mt. Gox, the defunct cryptocurrency exchange that was hacked in 2014, has announced a significant delay in its repayment plan for affected creditors. Originally set for October 31, 2024, the new deadline for repayments has been pushed to October 31, 2025. Mt. Gox Trustee Announces New Repayment Timeline This delay is particularly notable given that the repayment of approximately 200,000 BTC to creditors could have exerted downward pressure on Bitcoin’s price. Had the repayments proceeded as scheduled, there…

A look at the day ahead in European and global markets from Tom WestbrookFriday’s session brought a cautious mood to the markets, ahead of a smattering of data and an uncomfortable weekend.China’s finance minister has called a fiscal policy briefing for Saturday against a backdrop of high expectations and jittery trade. Investors and, as of Thursday, Swedish furniture shop IKEA want fiscal stimulus to reinvigorate the economy.Markets are expecting Beijing to announce 2 trillion to 3 trillion yuan ($280-$420 billion) in new spending, and worries about whether it will deliver – after a similar disappointment from policymakers’ briefing early this…

Investing.com– China’s recent round of stimulus sparked a strong rally in local stocks over the past few weeks, but MRB Partners said that China’s earnings outlook still remained muted, and that it was too soon to upgrade local stocks. MRB Partners said China’s recent stock rally was driven chiefly by “unrealistic expectations” of government stimulus, and that while China’s economic outlook was positive, this did not extend into corporate earnings. MRB Partners holds a Neutral weight on Chinese equities with an upgrade bias within emerging markets. But any upgrades to Chinese stocks are “predicated on a broad-based earnings recovery. No…

Solana tested the $135 support and recently corrected losses. SOL price is rising and might gain bullish momentum if it clears the $144 resistance. SOL price is attempting a fresh increase from the $135 zone against the US Dollar. The price is now trading below $145 and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $139 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could gain bullish momentum if it breaks the $145 resistance zone. Solana Price Aims Higher Solana price climbed above the…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Elon Musk has shown off his “Cybercab” in an eagerly anticipated event for Tesla investors, but was vague on crucial details as he predicted the self-driving taxi would be available for less than $30,000.  “I think the cost of autonomous transport will be so low that you can think of it like individualised mass transit,” Musk said on Thursday, after he made a Hollywood entrance at Warner Bros Studios in Los Angeles, riding in a Cybercab with no steering wheels and pedals. He…