Author: Press Room

Norway’s $1.3tn sovereign wealth fund has unveiled a new strategy. Given its size — it famously owns an average 1.5 per cent of every listed company in the world — it’s worth a closer look. Some of the headline changes were trailed by chief executive Nicolai Tangen at an FT conference on Wednesday, a day before the formal strategy plan was released:The world’s largest sovereign wealth fund will become a more vocal shareholder and plans to vote against companies that fail to set a net zero emissions target, overpay their top leaders, or do not have sufficiently diverse boards.Some background:…

Four people “active in the European Parliament” have been arrested amid suspicions of corruption involving “a Persian Gulf country”.Belgium’s Federal Prosecutor’s Office said it recovered €600,000 in cash and seized computers and mobile phones in Friday’s swoop.It said the investigation was centred on European parliamentary assistants but that one former MEP had been questioned.”For several months, investigators of the Federal Judicial Police have suspected a Gulf country to influence the economic and political decisions of the European Parliament, this is done so by paying large sums of money or offering large gifts to third parties with a significant political and/or strategic…

FTX Token price prediction appears to be turning bullish, as FTT has risen more than 30% in less than 24 hours after CNBC suggests relaunching the FTX exchange. To relaunch FTX and issue new FTT tokens was something that SBF thought would be “a productive path for parties to explore.”On Friday, Crypto Trader and CNBC host Ran Neuner tweeted that the defunct FTX exchange should reopen, issue a new FTT token, distribute it to creditors, and share all gains with token holders. According to Neuner, “the biggest exchange in the world and users will be made more than whole” once FTX…

Washington CNN  —  The Biden administration believes the Russian government will continue to engage on detainee issues, including freeing American Paul Whelan, following the release of WNBA star Brittney Griner because “they have things they want in this world,” a senior administration official tells CNN. Moscow knows that ultimately the two sides will reach “a mutually acceptable arrangement if they keep talking to us,” the official continued. “We have shown an openness to talk about that which is actually available to us and gotten only in response a demand for something not available to us,” the official said, reiterating that…

The undersea pipeline between Barcelona and Marseille is to only carry hydrogen and should be completed by 2030, leaders said on Friday.The H2MED project, agreed upon between the leaders of France, Portugal and Spain in October, was initially meant to first carry natural gas.But speaking following a trilateral meeting ahead of a summit of EUMED leaders in Alicante, Portuguese Prime Minister Antonio Costa confirmed that the new corridor will be “exclusively dedicated to green hydrogen”. The pipeline should cost around €2.5 billion, according to Spanish Prime Minister Pedro Sanchez, and enable the transport of two million tonnes of hydrogen per year.French President…

A top aide to two-time presidential candidate Vermont Senator Bernie Sanders said the independent and self-described democratic socialist is likely to consider a third run for the White House if President Biden does not run in 2024. “I assume that he would give it a hard look,” longtime Sanders adviser Faiz Shakir told CBS News on Thursday. “I don’t want to make the judgment for him. Obviously, it would be his choice to make. But I assume that he would want to reevaluate it.” Sanders, 81, ran for president as a Democrat in 2016 and 2020, losing the party’s nomination to Hillary…

Another key inflation measure shows price pressures cooled off but remained stubbornly high in November, despite the Federal Reserve’s monthslong efforts to fight inflation through higher interest rates. The Producer Price Index, which measures prices paid for goods and services by businesses before they reach consumers, rose 7.4% in November compared to a year earlier, the Bureau of Labor Statistics reported Friday. That’s down from the revised 8.1% gain reported for October. US stocks fell immediately after the report, as economists surveyed by Refinitiv had expected wholesales prices to have risen just 7.2%, annually. The higher-than-expected inflation readings raised concerns…

Wholesale prices rose more than expected in November as food prices surged, dampening hopes that inflation could be headed lower, the Labor Department reported Friday.The producer price index, a measure of what companies get for their products in the pipeline, increased 0.3% for the month and 7.4% from a year ago, which was the slowest 12-month pace since May 2021. Economists surveyed by Dow Jones had been looking for a 0.2% gain.Excluding food and energy, core PPI was up 0.4%, also against a 0.2% estimate. Core PPI was up 6.2% from a year ago, compared with 6.6% in October. Stocks…

Prince Harry and Meghan Markle ’s highly-anticipated Netflix docoseries has exposed many truths about the couple and their life in the Firm, but has left several questions unanswered. The first three episodes of the couple’s highly-anticipated six-part series, Meghan & Harry, caused a stir when they landed on streaming giant Netflix on Thursday morning. And Brits are waiting with bated breath for the next instalment, with another three episodes due to drop on December 15. Many bombshell claims have been made by the Duke and Duchess of Sussex as they share “the other side of their high-profile love story” -…

Even Baker Mayfield was shocked about the ending of his Rams debut. After the quarterback led Los Angeles to a 17-16 comeback win against the Raiders on “Thursday Night Football,” Mayfield said he was “completely shocked” over his opponent’s coverage choice when he hit Van Jefferson for a touchdown with nine seconds left to play. The decision left Jefferson one-on-one with Raiders cornerback Sam Webb and he pulled in a perfectly thrown ball from Mayfield to put the Rams ahead. “To be honest with you, I was completely shocked that they lined up in press coverage with 15 seconds,” Mayfield…