Funds

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Rachel Reeves set to disclose £20bn shortfall in UK government funding plans

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Rachel Reeves is expected to reveal a near-£20bn hole in the public finances as the government accuses the Conservatives of what it says is a “failure” to properly run the government finances. On Monday the chancellor will outline the results of an audit of shortfalls in funding plans that is expected to pave the way for tax increases this year. The figure of about £20bn, which could change as work continues, represents an annual...
Funds

Bill Ackman slashes fundraising target for US fund IPO by as much as 90%

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Bill Ackman has slashed his fundraising target for the initial public offering of his US investment fund Pershing Square USA by as much as 90 per cent, falling far short of the initial target of $25bn. The billionaire hedge fund manager said in a letter filed with the Securities and Exchange Commission that he expected to raise between $2.5bn and $4bn, although the total haul could increase to $10bn depending on how...
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