Wells Fargo is set to sell the majority of its commercial mortgage servicing business to global loan services provider Trimont, the companies said Tuesday. The move would make Trimont the largest loan servicer in the US industry, according to rankings from the Mortgage Bankers Association. Wells Fargo’s deal to sell off its…

Clifford Chance litigator Christopher Morvillo wrote his first LinkedIn post in June, to celebrate the acquittal of his client Mike Lynch after a 12-year legal battle. “I am so glad to be home”, Morvillo wrote, signing off: “And they all lived happily ever after . . . ”That turned out to be one of…

The shape of the US labor market is changing, job growth is slowing and new survey data released Monday shows that Americans are starting to feel increasingly unsettled about it all. The Federal Reserve Bank of New York’s latest survey on consumers’ labor market experiences and expectations showed that job,…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Mike Lynch, one of the UK’s best-known tech entrepreneurs, is among those missing after a luxury yacht sank off the coast of Sicily, according to people familiar with the matter.Lynch’s wife, Angela Bacares,…

After the 2018 Camp Fire – the deadliest wildfire in California’s history – engulfed Michael and Kristy Daneau’s Paradise home, the couple and their four daughters were forced to move 30 miles away to find a home they could afford. They moved to Cohasset to buy a home with money they…

Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseDemocrats rushed to defend Kamala Harris’s newly unveiled economic plans on Sunday, amid criticism that they amounted to gimmicks that would fail to tackle inflation. The Democratic presidential candidate…

On Saturday, a new set of rules governing how most real estate professionals do business in the US officially take effect — and the changes could potentially upend how Americans buy and sell homes. The rules were agreed to by the National Association of Realtors, the powerful trade association that…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.US stock markets have rebounded quickly after a dramatic start to August but trading in derivatives markets suggests many investors are not convinced the calm will last.By Thursday the S&P 500 had…

For more than a century, Americans have been turning to a trusted and reliable source for local news: the radio. Now, the terrestrial broadcasts are facing an existential threat as listeners and advertising dollars rapidly shift, forcing stations to slash staff and even sign off the air for good. This…

The World Health Organization’s declaration of a public health emergency for mpox is the second such alert on the infectious disease in barely two years — and experts fear this one is even more serious. The latest outbreak, centred on Democratic Republic of Congo and identified in about a dozen…