US mortgage rates plummeted this week after weaker-than-expected employment data raised the odds of the Federal Reserve cutting interest rates next month. It’s a big step in the right direction for America’s notoriously unaffordable housing market. The standard 30-year fixed-rate mortgage averaged 6.47% this week, mortgage financing giant Freddie Mac…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Coca-Cola is selling €1bn of new debt that it may use to help pay potential charges arising from a decade-long dispute with US tax authorities, in which the company could owe $16bn.The…

Disney Parks are the latest business to face slowing consumer demand in the face of higher prices. Disney’s parks business underperformed expectations and profit fell somewhat last quarter. Although the company said attendance remained steady and people were spending more, it also acknowledged a slumping economy was weighing on travelers…

Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseDonald Trump has said he will immediately fill up the US Strategic Petroleum Reserve if he becomes president in November, a move that could boost oil demand by hundreds…

It’s only Tuesday, but it’s already been a rough week for the tech world. A tech sell-off on Monday, spurred by disappointing earnings, helped to drag down wider markets. The “Magnificent Seven” tech stocks ultimately lost $615.6 billion in value on Monday, according to data from S&P Global. Investors were…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Wall Street stocks rebounded on Tuesday as markets stabilised from the previous day’s global rout, following a much sharper comeback for Japanese equities.The S&P 500 climbed 1.7 per cent by midday in…

Bloomberg News took disciplinary action Monday against a “number” of its staffers after the outlet broke an embargo last week on news of the release of several American prisoners held by Russia, including Wall Street Journal reporter Evan Gershkovich. In a memo sent to the outlet’s staff on Monday and…

Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseIran has the “right” to punish Israel for assassinating Hamas leader Ismail Haniyeh on its soil, its foreign ministry said on Monday, as the US sent reinforcements to the…

For 90-plus years, the Parkway Theater has been a fixture in South Minneapolis, gathering generation after generation of patrons in front of its lone movie screen. Outside of its walls, the years brought plenty of change: wars, economic swings, social movements, a pandemic, technological innovations, and the rise of antagonists…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A fresh outburst of violent disorder broke out in several English towns and cities on Sunday afternoon after dozens were arrested in clashes with the police on Saturday.The protests are the most…