Neil Woodford and his investment firm have been fined £46mn by the FCA after the regulator ruled that inadequate liquidity controls and risky asset allocations caused the collapse of their flagship fund, leaving roughly 300,000 investors with losses and leading to a prohibition on the former star manager holding senior posts in regulated finance.
Tesla is incentivising its CEO with a $30 billion stock award amid potential threats of his departure, aiming to secure his focus and leadership on the company’s future amidst various market challenges.
Amid heightened scrutiny of US labour statistics, a political clash has intensified over whether slowing wage growth disproportionately harms lower-paid workers, with economists warning that opaque data risks masking widening inequality and eroding confidence in policymaking.
The Federal Reserve kept its benchmark rate unchanged despite overt pressure from President Trump, exposing an historic split among policymakers over how to navigate slowing growth, trade uncertainty and subdued inflation.
European shares slipped and the euro weakened as Berlin and Paris signalled reluctance over a proposed US trade accord, stoking investor jitters particularly in the car sector and prompting concerns about the bloc’s growth outlook.
Brussels has agreed to accept 15% US tariffs on a swathe of imports in return for a wider accord that will see the EU purchase more American arms and energy, a move hailed by Washington as redressing long-standing trade imbalances and easing transatlantic tensions.
