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The Latest Breaking News from the Financial Times

BMW apologizes for ice-cream incident at Shanghai Auto Show

Social media users accused the carmaker of discrimination, with one hashtag attracting millions of views on Twitter-like platform Weibo.

Fortune

US Regains Pre-Trump, Pre-Pandemic Immigration Levels

We owe this achievement to a combination of Covid vaccines and Biden Administration policy changes. But much more can be done.

Reason

Ecuador's President Lasso vows to dissolve congress if it tries to impeach him -FT

Ecuador's President Guillermo Lasso said he will dissolve congress and call early elections if he does not muster enough support among legislators, the Financial Times reported on Tuesday citing an interview with Lasso.

Reuters

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EY tells UK staff to expect cuts after breakup failure

‘Embarrassed’ bosses at accounting firm sound warning as global costs of failed split reach $600m

The Guardian - UK

Imran Khan says Pakistan will struggle to break out of cycle of debt repayments - FT

Pakistan will struggle to break out of a cycle of ongoing debt repayments without reform, former Pakistan Prime Minister Imran Khan told the Financial Times in an interview.

Reuters

Binance hid extensive links to China for several years

Company documents show crypto exchange relied on country long after it said it had left in 2017

Financial Times

Norwegian company says TikTok data centre is limiting energy for manufacturing Ukraine ammunition

Head of Norwegian manufacturer Nammo says plans to increase production at its largest factory are affected by demands of nearby data centre

The Guardian - AU

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Italian academic cooks up controversy with claim carbonara is US dish

Alberto Grandi also raises hackles with suggestion Wisconsin has most authentic take on parmesan cheese

The Guardian - UK

Pushback grows over mental health impacts of social media

Social media companies are increasingly coming under fire for their role in fueling an epidemic of mental health crises among teens and children that have resulted in historically high rates of poor mental health, depression and suicidality.

Axios

Kate Middleton achieves major new milestone: ‘She doesn’t just talk the talk, she walks the walk’

Catherine, Princess of Wales can now add published writer to her impressive resumé

Woman & Home

Plans to raise State Pension age to 68 earlier than scheduled reportedly put on hold by UK Government

There had been widespread reports the rise to 68 would be brought forward from 2044 to the late 2030s.

Daily Record

Swiss order Credit Suisse to suspend paying some bonuses

Credit Suisse had earlier written in an internal memo that it would pay outstanding bonuses as it tries to stick to "business as usual."

Fortune

Scottish Mortgage chair quits after governance row

Fiona McBain’s independence was questioned by Amar Bhidé, who has also left board of FTSE 100 trust

The Guardian - UK

UBS agrees to buy Credit Suisse for more than $2bn, reports Financial Times

UBS has agreed to buy Credit Suisse after increasing its offer to more than $2 billion, the Financial Times reported on Sunday.

France 24

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The New Daily

UBS offers ‘to buy Credit Suisse for up to $US1 billion’

UBS Group AG has offered to buy Credit Suisse for up to $US1 billion ($1.5 billion), the Financial Times reports.

The Guardian - UK

SVB parent files for bankruptcy; Credit Suisse shares slide again amid banking crisis – as it happened

European and US banking shares fall, with Credit Suisse down 12% as sentiment remains fragile

The Guardian - US

Billionaire Peter Thiel claims he has $50m of his own money stuck in SVB fall

In the wake of the bank’s crisis, venture capitalists have been trading accusations over who is responsible for the collapse

Fortune

Silicon Valley Bank flagged risks from remote work on performance in its latest annual report

Remote work “reduced productivity and/or significant disruptions in our business operations," SVB said in its 2023 annual report published last month.

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Newsroom.co.nz

Is your ‘local’ vet owned by German billionaires?

Overseas private equity companies are buying up veterinary practices in NZ and branding them as 'local'. Independent Kiwi vets are fighting back.

Fortune

Will Credit Suisse be the next banking domino to fall?

After Silicon Valley Bank’s collapse, could one of Europe’s biggest (and most embattled) banks spark an even bigger crisis?

Fortune

South Korea is pitching a 69-hour maximum workweek

Officials say the new scheme allows workers to work more hours one week and fewer hours in another—and even claim it will help working parents.

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