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US lifts upper limit on government-backed home mortgages to almost $1m
The highest value of US mortgages eligible for federal government backing has been lifted to almost $1m, in a reflection of the surge in house prices during the coronavirus pandemic. The Federal Housing Finance Agency on Tuesday said the…
Goldman Sachs chief warns New York City’s future ‘not guaranteed’
David Solomon, chief executive of Goldman Sachs, has warned New York City’s leaders they cannot take its position as a global business destination for granted and that higher taxes threaten to make it less appealing for companies and their…
MI6 chief warns of security threat from China ‘miscalculation’
China’s overconfidence and belief in its own anti-western propaganda has put Beijing at risk of “miscalculation” which could threaten international security, the head of the UK’s Secret Intelligence Service has warned.Richard Moore said…
Josephine Baker enters France’s Pantheon of national heroes
Entertainer, civil rights activist and spy: Josephine Baker will on Tuesday evening become the first black woman to be memorialised in the Pantheon in Paris — an honour only bestowed by the French president for national heroes. President…
Joe Biden’s democracy summit risks flattering the enemy
Before the first world war, there were a handful of democratic nations. In December, US president Joe Biden will convene a hundred or so at a virtual summit. Their number has dipped over the past decade, it is true, but from a towering,…
Kaisa bondholders reject company offer aimed at avoiding default
Offshore bondholders in Chinese property developer Kaisa have rejected an offer by the ailing group to extend the maturity of its debt and avoid a messy default next week, according to a letter to the company’s chair seen by the Financial…
Early Regeneron tests indicate antibody drug could be less effective against Omicron
Early testing indicates that the mutations in the Omicron variant of coronavirus may hamper the ability of Regeneron’s antibody drug to treat Covid-19, the company said, suggesting that some therapies may have to be adapted to tackle the…
Record eurozone inflation of 4.9% puts pressure on ECB
Inflation in the eurozone rose to 4.9 per cent in November, a record high since the single currency was created more than two decades ago, prompting policymakers and economists to warn that price pressures are likely to persist for longer…
GSK poaches key vaccine executive from Pfizer
GlaxoSmithKline has poached a key vaccine executive from Pfizer, as the UK drugmaker makes a big bet on the future of mRNA technology. Philip Dormitzer will this week join GSK as global head of vaccines research and development, leaving the…
Éric Zemmour declares bid for French presidency
Éric Zemmour, the anti-immigration polemicist, has declared his bid for the French presidency with an appeal to those he said were scorned by elites and felt like strangers in their own country. “You feel dispossessed . . . you have the…
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