Hello from the FT newsroom.?Economic crisis has been averted in Washington, for now. President Biden and the Republican Speaker of the House, Kevin McCarthy, struck a crucial deal this week to suspend the debt ceiling until after the 2024 presidential election, after Treasury secretary Janet Yellen warned that the country was at risk of running out of money on June 5.?
The House of Representatives overwhelmingly passed the bill yesterday, bringing the US closer to avoiding a historic default. While the pact must still pass the Senate and be signed by Biden, the House was considered the hardest hurdle to clear.?The details of the compromise indicate a resounding success for Joe Biden, argues our US national editor Edward Luce.
- Ukraine has been launching daring ‘shaping operations’ to rattle the Kremlin and stoke nervousness among Russians. After drone strikes on Moscow,?Vladimir Putin has promised to retaliate.?(Free to read)
- Britain’s housing market is broken. In a pitch to fix it, Labour is setting out a blueprint to become the “party of home ownership”. But effective policies need to tackle structural problems in the market, writes the FT editorial board.
- “If anyone hits Taiwan . . . the tech and electronics industry worldwide is basically screwed.”?Taiwan’s manufacturing prowess has proven indispensable to global electronic supply chains. This wonderful visual story examines the dilemma for western companies grappling with a potential conflict in Asia.
- Trouble in paradise? Until recently, boutique US investment bank Centerview was famed for a harmonious culture, rare among its Wall Street counterparts. This Big Read tells the story of?the messy legal battle it is now fighting with a former partner.
- The Office for National Statistics announced record net migration to the UK in 2022. Yet the figures were still lower than analysts expected, highlighting doubts about the accuracy of new methodology. Data journalist Amy Borrett explores?the flaws in the data underpinning UK policymaking.?(Free to read)
- Does new technology really save us time in the office? Despite constant innovation, we humans have shown?remarkable determination to keep creating work for ourselves, argues Sarah O’Connor in this excellent column.
PS?If you would like to read Sarah O’Connor’s column for free, please download our iPhone app, FT Edit. The Edit gives you access to eight handpicked articles every weekday, and the first month is free.?Download it here.
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Enabling evidence-based analysis and reporting in life sciences | MBBS, MPH, ePGPHEP
1 年US debt default?... the can got kicked down the road!
thebestopportunities
1 年“Ripple is the future” I Recommend US start use.
CFO | C-Level | CORP & Intl (Trilingue) | LatAM & CCA Cluster | Dir Finanzas & IT | CSC & ICT | Insolvencia & Crisis | Optimizar Tax | Innovar estrategia Digital | Centrado en Solucionar | Incrementar valor de mercado
1 年Election 2024 is coming and if the Republican/Maga do not cooperate, they loose.
Finance and Leadership Professional
1 年No need for celebrating, Kevin. When you are in deep and stormy financial waters, any lifeline is appreciated. What other choices were there but to include sharp spending cuts? Unless the US Govt. still not accepting the realities of the trends going forward.
Director at Strategies International Consultants
1 年8M Americans unemployed in a month if No deal is a big incentive to agreement!