Todd Boehly’s insurer wins reprieve on rules to close capital arbitrage
Billionaire investor’s Security Benefit had been the heaviest user of a structure being targeted by US regulators
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Trump adrift: the president’s second term is at risk of foundering
There are signs that voters are losing faith as problems mount for his administration ahead of midterm elections
FirstFT: Yen surges amid reports that Tokyo intervened to support currency
Also in today’s newsletter: Israel deployed laser system to UAE, and China sales power Apple results
Inside the Fed: Powell vows he won’t be a ‘shadow chair,’ but a Warsh clash will be tough to avoid
When the Fed gathers again, it will mark the first time a sitting and former chair conduct business together in nearly 80 years.
Tech rally powers US stocks to best month since 2020
Strong earnings and AI spending plans help investors shrug off fallout from Middle East conflict
Blue Owl draws in $9bn as private credit market cools
Growth in headline figure obscures worse than expected $700mn increase in fee-paying assets