General election 2024: who’s in the Labour cabinet?

Roula Khalaf, Editor of the FT, selects favorite stories in this free weekly newsletter highlighting potential job cuts in UK government departments focused on attracting investment and promoting exports, despite promises to boost economic growth. Plans for headcount reductions and restructuring are underway, including merging the Office for Investment with the business department's investment directorate, aiming to strengthen regional investment propositions and improve trade performance post-Brexit. The British Chambers of Commerce expresses concerns about potential...

The second Trump presidency has started with mass firings, tariff threats, and budget negotiations, causing uncertainty among investors despite initial market confidence. Extension of tax cuts is expected, but the cost remains a concern, leading to discussions on potential spending cuts. The bond market remains calm amidst trade tensions, as Treasury Secretary Scott Bessent's policies and cost-cutting efforts by Elon Musk's DOGE initiative aim to shape the economic outlook and deficit reduction strategies. Full Article

Elon Musk, CEO of Tesla, is making preparations to enter the Indian automobile market by forming a local subsidiary and establishing relationships with India's prime minister. Despite facing high import tariffs and competition from local manufacturers, Tesla is prospecting for commercial real estate and is hiring for positions in Mumbai and New Delhi. Musk has long expressed interest in India, and with President Trump's support, Tesla may soon be able to sell electric cars in...

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US oil producers, including Continental Resources' Harold Hamm, are hesitant to invest in Russia despite talks of a peace deal, citing past losses and geopolitical risks. ExxonMobil and Chevron have previously scaled back operations in Russia due to sanctions, with analysts cautioning against hasty returns. Hamm supports Trump's tough stance on sanctions and tariffs, emphasizing US LNG exports for European energy security and praising the president's accomplishments in his first term. Full Article

Patsy Grimaldi, a pioneer in artisan pizza, passed away at 93 in Queens. He started selling pies in 1990 under various names before settling on Juliana's Pizza, known for its coal-fired pies and fresh ingredients. Despite legal battles and changes in ownership, his legacy lives on in the bustling pizzerias he founded in Brooklyn. Full Article