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Alan Greenspan, the longtime Federal Reserve chairman known as “the Maestro” who became one of the most influential economic policymakers of his era and famously warned of “irrational exuberance,” has died. He was 100.The influential economist died Monday from complications of Parkinson’s Disease, said his wife of 29 years, Andrea Mitchell, the chief Washington correspondent and chief foreign affairs correspondent for NBC News. Greenspan was appointed Fed chairman in 1987 by President Ronald Reagan and held the position — through busts and booms — until retiring in 2006. His tenure was the second longest, four months short of that of…
Uber-backed Lime aims to raise up to $180.9 million in US IPO Source link
Chinese tech company Tencent is a gaming giant and the parent company of WeChat, the ubiquitous social messaging app in China.Cheng Xin | Getty Images News | Getty ImagesTencent on Monday said it is testing an AI assistant within WeChat in China as the tech giant looks to step up efforts to challenge rivals in the country’s competitive artificial intelligence market.Xiaowei, “a native AI assistant,” is being tested “on a small scale” in Weixin, the Chinese version of WeChat, Tencent said in a statement translated by CNBC.Users can interact with Xiaowei with text or voice, communicate with friends and launch…
Sir Keir Starmer has stepped down as leader of the Labour Party, starting the process that will see him replaced as prime minister. He made the announcement in a speech outside 10 Downing Street, where reorters had gathered in anticipation of the news. Becoming visibly emotional as he concluded his speech, Starmer said that he would now focus on “the most important job” of being the best husband and dad to his “fantastic wife” and “beautiful children”. Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The Bank of England has eased its planned restrictions on stablecoins in response to criticism of its strict approach to the tokenised forms of money as it seeks to avoid the UK falling behind in digital asset markets.The BoE said on Monday it was ditching its plan to impose ownership limits on UK stablecoins, replacing this with a £40bn issuance limit. It also lowered the proportion of assets backing stablecoins that must be held in zero-interest deposits at the central bank.Crypto asset…
Thomas Barwick | Digitalvision | Getty ImagesThe wealth management industry is in the middle of a sweeping shift, as more firms move up the wealth ladder to serve the richest individuals and families. Technology, competition and industry consolidation are pressuring fees and profitability, experts say. At the same time, the population and fortunes of ultra-high net worth investors are soaring, data shows. To survive and grow, more wealth management firms are chasing the surging ranks of the extremely wealthy and their more profitable accounts.CNBC’s inaugural Elite Advisors list for 2026 recognizes 25 firms that have extensive experience helping the wealthiest…
Canadian lender TD tells some employees it will use software to monitor their work Source link
The BBC’s political correspondent Joe Pike outlines the highs and lows of his premiership. Source link
Oil tankers and cargo vessels remain anchored off Port Sultan Qaboos on June 21, 2026 in Muscat, Oman. The Strait of Hormuz, a vital shipping route for the region’s oil and gas, was effectively blockaded since the outbreak of war between the United States and Iran in late February. On Sunday, U.S. Vice President JD Vance arrived in Switzerland for high-level talks with the Iranian delegation, as the two sides seek to clarify the terms of ending the war.Elke Scholiers | Getty Images News | Getty ImagesShipping through the Strait of Hormuz stalled over the weekend, according to maritime intelligence…
SpaceX is down more than 3% in premarket trading on Monday, continuing a selloff that has seen the stock fall in the past two full days of trading after a rally after its record-breaking IPO.Shares in the company were down 3.65% at 5:15 a.m. ET.Elon Musk’s space and artificial intelligence firm became one of the world’s most valuable companies after a blockbuster listing on June 12. Stock surged in SpaceX’s first two full days as a public company, with market cap surpassing Amazon and — briefly — Microsoft on Tuesday, before falling back below both. Stock Chart IconStock chart iconSpaceX…