These box office numbers do not include the cost of production or marketing costs. They also don't count the billions in merchandising that Disney has made over the last...Entertainmentread more
Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
Last week shows that oil prices are not the indicator for Middle East tensions they once were, and worries about global demand and growing U.S. production has changed that...Market Insiderread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
The firing of the tear gas was the latest confrontation between police and protesters who have taken to the streets for over a month to fight a proposed extradition bill and...China Politicsread more
Amazon's new policy for account suspensions doesn't go far enough to protect sellers from potentially unfair and wrongful suspensions, merchants say.Technologyread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Weather & Natural Disastersread more
Gluskin Sheff's David Rosenberg is painting a painful picture for stocks as earnings season goes into full gear.Futures Nowread more
On Saturday, Disney's Marvel Studios announced its upcoming slate of superhero films during a panel at San Diego Comic-Con.Entertainmentread more
One of the City of London's post-Brexit fears edged closer to reality on Tuesday as French President François Hollande said that the City of London would no longer be able to clear euro-denominated trades.
Speaking at the end of a summit in Brussels where EU leaders started trying to pick through the wreckage after David Cameron's referendum defeat, Mr Hollande warned that it would be unacceptable for clearing — a crucial stage in trading of derivatives and equities — to take place in the UK.
"The City, which thanks to the EU was able to handle clearing operations for the eurozone, will not be able to do them," he said. "It can serve as an example for those who seek the end of Europe . . . It can serve as a lesson."
More from FT.com:
The stripping away of the City's right to clear in euros is a long cherished goal of the European Central Bank in Frankfurt but one that was previously thwarted by the UK in the EU courts. The ECB had argued that it was unfair for it to be expected to provide emergency support to clearing houses that operated outside its jurisdiction, while the UK had argued that a "location policy" would discriminate against Britain and challenge its role in the single market. George Osborne, UK chancellor, described the UK's court victory in 2015 as a "major win for Britain".
Mr Cameron made the prevention of any further such encroachments by the ECB one of the priorities of his, ultimately futile, renegotiation of the terms of Britain's EU membership.
Clearing houses such as Deutsche Börse's Eurex Clearing and London's LCH.Clearnet play a crucial role in confirming trades that have been made on the financial markets and minimising the disruption caused when a trader cannot honour its obligations. London has become a world leader for the clearing of some types of euro-denominated derivatives.
Traders have said that the ECB's location policy would be a warped anomaly in the globalised marketplace for derivatives, creating a Balkanisation of the market.
Still, while the fight over clearing became a point of principle for the UK government, Mervyn King, the former governor of the Bank of England, said that a renewed push by the ECB would not have a huge impact on the City of London.
"The City is much more than a small number of banks that want to trade securities in Europe," he said, adding that "people all around the world" would still want the benefit of Britain's legal system when drawing up financial contracts.