- George Soros, the legendary investor and philanthropist, is handing over control of his $25bn empire to his 37-year-old son, Alex Soros.
- Alex plans to broaden the foundation’s liberal aims to include voting and abortion rights, gender equity and back left-leaning US politicians.
- The Soros’s nonprofit Open Society Foundations directs about $1.5bn a year to groups backing human rights around the world.
- Alex is concerned about Trump’s potential return to the White House and suggests a significant financial role for the Soros organization in the 2024 presidential race.
- Jonathan Soros was thought to be the clear successor, but Alex gained his father’s trust and was elected as chairman of the Open Society Foundations board in December.
Central banks around the world are pausing tightening campaigns as inflation eases and economies slow. Inflation-targeting regimes are keeping their own houses in order, while the US Fed's key inflation gauges fell to the slowest annual paces since late 2021.
Two massive earthquakes on Monday have devastated cities and towns across Turkey and Syria, with death toll of over 16,000. This is one of the worst natural disasters this century, alongside the 2004 Sumatran Tsunami, 2010 Haiti earthquake and 2008 Cyclone Nargis.
A raft of U.S. data and European inflation numbers will give guidance on how the world's top central banks will navigate the way ahead, including the hotly debated "no landing" scenario. Reports on U.S. durable goods orders, home prices, manufacturing and consumer confidence threaten to cement expec