Author: Press Room

A Big Ten matchup between Iowa and visiting Illinois on Saturday has started generating buzz for more than what’s at stake in the conference standings. Iowa reportedly invalidated 200 tickets that Orange Krush, Illinois’ student section, had purchased for the game serving as its annual road trip. But the Hawkeyes’ athletic department pushed back against the allegations with a statement Wednesday night — stating that the individual who purchased the tickets “admitted to falsely ordering tickets under the [Illinois chapter of the Boys & Girls Club] non-profit organization,” according to a report from NBC Chicago.” Illinois fans in the Orange…

CNN  —  Donald Trump so far isn’t scaring anyone off. One of the defining early questions of the 2024 presidential election seems about to be answered with some of the ex-president’s potential rivals for the Republican nomination making clear moves toward the race. Former South Carolina Gov. Nikki Haley is expected to launch a campaign on February 15 in Charleston, a source familiar with her plans told CNN Tuesday. Former Secretary of State Mike Pompeo, promoting a score-settling new book on the conservative media circuit, is making the kind of political throat clearing noises typical of would-be candidates. And South…

A reimagined and masterful Grand Central Terminal brought jaw-dropping opulence to the heart of New York City after 10 years of reconstruction when it opened on this day in history, Feb. 2, 1913. Its stately Beaux Art design, soaring celestial ceiling, shopping and dining concourses, scores of rail and subway lines, mysterious “whispering walls” and central location in the heart of America’s biggest city make Grand Central a tourist attraction — as well as a vital transportation hub.”There are a lot of great train stations in the world. There is nothing, nothing like Grand Central,” Greg Young, co-host and producer of…

CNN  —  The Ohio Department of Education is investigating an online homeschooling network after reports of parents sharing messages of White supremacy as educational resources, according to a state education official with knowledge of the review. But there is likely little the state can do to change the curriculum, and using and sharing such curriculum does not violate state law. The review is one of “compliance with statutory and regulatory requirements,” the official said. Under Ohio law, the state’s Department of Education does not review or approve home school curriculum. The homeschooling group has more than 3,000 subscribers and shares…

One scoop to start: Banks that lost billions from the meltdown of Archegos Capital Management will get back as little as 5 cents on the dollar from its restructuring, with brokers such as Goldman Sachs funding the payouts using cash left in the family office’s trading accounts.And one invitation: Join LaLiga president Javier Tebas, AC Milan’s new owner Gerry Cardinale and more at the FT’s Business of Football Summit, March 1-2. DD subscribers can claim a free virtual pass or join us in person at The Biltmore Mayfair, London on March 2. Register here. In today’s newsletter:Adani calls off its…

Investment bankers who string together complex corporate takeovers have a new item on their checklists: avoid deal terms that force acquirers to refinance debt.Keeping old borrowings on the books rather than rolling into new bonds and loans has become a priority for private equity groups and corporate buyers as interest rates rise and lending markets constrict. Because debt held over generally costs less, it has propped up valuations and made some megadeals possible in the toughest environment since the 2008 financial crisis.“Buyers in this market are seeking to keep the existing debt in place whenever possible,” said a senior adviser…

No company embodies the growth potential of electric vehicles more than Tesla. But with the value of Elon Musk’s company falling from more than $1tn last year to $383bn, many investors are rethinking how to get exposure to the EV boom.The size of the global electric vehicle market is projected to grow from $287bn in 2021 to $1.31tn in 2028, predicts data company Sustainalytics. It’s an opportunity few investors will want to miss. Even beyond Tesla’s current turmoil, the nascent market faces a bumpy road, with concerns about range anxiety, shortages of raw materials such as lithium, cobalt and nickel, and…

Matthews Asia plans to convert its $80mn Korea Fund into an ETF, a filing shows.All or substantially all of the fund’s assets are expected to move into the newly formed Korea Active ETF, the manager has disclosed.The fund’s board expects to consider the conversion in early 2023, according to the filing. If the board approves the plan, the fund will be converted to the actively managed ETF sometime this year. The disclosure did not reveal when the board meeting was due to take place and included no further details about the timeline.The firm does not expect the conversion to require…

The writer is professor of finance at the University of Lugano and senior chair at the Swiss Finance InstituteFrom the legalisation of marijuana to the rise of working from home, if there is a trend or theme in markets, there will be an exchange traded fund for it. As the cost of issuance of new ETFs is low and the competition between fund issuers intense, financial innovation has flourished. Thousands of new ETFs have been launched over the past three decades. The range of recent specialised ETFs seemingly stretches as far as the imagination of investors.But does financial innovation in…

Australia will remove the British monarch from its banknotes after it opted to use an indigenous design for its A$5 note rather than an illustration of King Charles.British royals have appeared on the country’s currency dating to the days of the Australian pound, but the death of Queen Elizabeth II last year prompted calls from supporters of an Australian republic to remove the monarch’s face from the A$5 note.The Reserve Bank of Australia said on Thursday that King Charles would not feature on the note in the future and the pink polymer currency would be redesigned to incorporate an image…