In an order on Tuesday, Judge Lewis Kaplan denied motions seeking to dismiss 10 of the 13 counts faced by the former entrepreneur, including allegations of campaign finance violations and conspiracy to commit bank fraud.⁠ ⁠ Tap the link in bio to read more. ⁠ ⁠ Image by Michael M. Santiago/Getty Images⁠ ⁠ Image description: FTX founder Sam Bankman-Fried walking out of a New York courthouse.

Randal Quarles, the top banking regulator under President Donald Trump who is credited with rolling back post-financial crisis bank regulations, has teamed up with a former risk officer at recently failed Silicon Valley Bank to launch a bank. ⁠ ⁠ They want to tackle what they believe is a growing problem for global financial markets — a dearth of physical dollars.⁠ ⁠ �Image by Patrick T. Fallon/AFP⁠ ⁠ Tap the link in bio to read more. ⁠ ⁠ Image description: The logo of Silicon Valley Bank on the facade of a building.

US corporate spending on jet travel has jumped for the second year in a row, highlighting how companies continue to spend on flying perks they insisted were needed during the Covid-19 pandemic.⁠ ⁠ Facebook’s parent company Meta spent the most among S&P 500 companies for a CEO’s personal air travel, reporting $2.3mn on private flights for Mark Zuckerberg. But that was dwarfed by the more than $4mn Meta spent for Sheryl Sandberg, who stepped down as chief operating officer last year.⁠ ⁠ Tap the link in our bio to read more.⁠ ⁠ Image credit: Getty images⁠ ⁠ Image description: A private jet flying through cloudy skies at sunset⁠

Russia dropped charges against participants in the Wagner paramilitary force’s armed insurrection and said the group had agreed to hand over its weaponry.⁠ ⁠ The announcements on Tuesday came in the wake of the deal between the Kremlin and Wagner founder Yevgeny Prigozhin and appeared to mark progress towards resolving the stand-off.⁠ ⁠ The FSB, Russia’s main security service, said it had closed its investigation into the weekend rebellion because 'it has been determined that its participants ceased the activities directly aimed at committing the crime', according to state newswire Ria Novosti.⁠ ⁠ While in the immediate aftermath of the failed insurrection the Kremlin had said the charges would be dropped, they had remained in force, in an apparent bid to put pressure on Wagner to abide by the terms of the deal.⁠ ⁠ Tap the link in our bio to read more. ⁠ ⁠ Image Description: A black card with black text highlighted in white reads: 'Russia drops uprising charges and says Wagner will hand over weapons'

This is the firm’s second round of job cuts this year following a 2% cut in February, as it struggles with the slowdown in demand for consulting and other services. ⁠ ⁠ Other Big Four firms have also faced staffing cuts this year, after several years of breakneck hiring.⁠ ⁠ Tap the link in our bio to read more.⁠ ⁠ Image by Sean Gallup/Getty Images⁠ ⁠ Image description: The KPMG logo on the facade of a building.

The outgoing chief of the largest US university endowment said it was beholden on ageing executives to retire in order to ‘move out of the way’ for the next generation. ⁠ ⁠ Britt Harris, who will step down as chief executive of Utimco, the $68bn University of Texas and Texas A&M endowment system, at the end of this month, said: ‘You have to move out of the way for the next generation or people won’t get senior positions until they’re 75 or 80.’ ⁠ ⁠ Harris, who is 65, joined Utimco as chief executive and chief investment officer in 2017, and helped grow the endowment’s assets by nearly 65% in six years. The fund has outperformed under his watch, beating 98% of other endowments over three years to 2022, according to company reports. ⁠ ⁠ Harris said retirement for many at his level may feel counterintuitive and his decision to retire contradicts a broader trend on Wall Street, where ageing company executives are holding on longer and groups are giving incentives to top bosses to pause retirement plans.⁠ ⁠ But it is easy for companies to become over-reliant on one hyper-successful chief executive, experts said, which can damage succession planning for when they depart.⁠ ⁠ Tap the link in our bio to read the full story.⁠ Image description: A light pink card with white text highlighted in black reads: ‘Ageing executives should ‘move out of the way’, says chief of the largest US university endowment’

The Prigozhin rebellion is over for now. But it would be futile to believe that things can go back to normal in Russia, writes the FT’s Gideon Rachman.⁠ ⁠ Tap the link in bio to read the full column. ⁠ ⁠ �Image by Sergei Bobylvov/Sputnik/AFP⁠ ⁠ Image description: A close-up of Vladimir Putin.

In an 11-minute voice recording posted on Telegram on Monday, Yevgeny Prigozhin said he had instead intended to signal his objection to a recent decision to disband the militia as well as demonstrate the weakness of Russia’s domestic defences.⁠ ⁠ Tap the link in bio to stay up to date on this developing story. ⁠

For LGBT+ employees, coming out at work can be a challenging process and support from senior management is crucial.⁠ ⁠ The Financial Times has spoken to 10 top business executives willing to share their own experiences.⁠ ⁠ Tap the link in our bio to read more.⁠ ⁠ Image credit: Richard Cannon/FT⁠ ⁠ Image description: Man Group CEO Robyn Grew looks into the camera while leaning against a pride flag

The bank said in a memo seen by the Financial Times that its preferred option was to move to Panorama St Paul’s in London. ⁠ ⁠ It said it expected to relocate to its new office in late 2026. ⁠ ⁠ Tap the link in our bio to read more. ⁠ ⁠ Image credit: Getty images ⁠ ⁠ Image description: A closeup of the Canary Wharf skyscrapers in London.

Scarlett Johansson is terrific in the director’s film within a film, set at a desert stargazing event in the 1950s, writes the FT's film critic. ⁠ ⁠ Follow @ft_weekend for more recommendations. ⁠ ⁠ Tap the link in bio for five other films to watch this weekend.

Yevgeny Prigozhin said his Wagner mercenary group had agreed to stand down its coup attempt and would return to Ukraine to avoid what he described as inevitable bloodshed.⁠ ⁠ The Kremlin did not immediately confirm it had agreed to let Prigozhin’s forces retreat.⁠ ⁠ Tap the link in bio to stay up to date on this developing story.