Just right morning.

CRH, the sector’s greatest development fabrics staff, has introduced its purpose to transport its number one list from London to New York, in the most recent blow to the United Kingdom capital marketplace.

And in lately’s Large Learn, Africa editor David Pilling speaks to André de Ruyter, the previous leader govt of the South African application Eskom. He talks about his shut shave with demise and the illegal activity plaguing the corporate and, extra extensively, South Africa.

Right here’s what to appear out for later lately:

• Politics: Republicans convene the primary annual Conservative Political Motion Convention in Washington because the get started of the pandemic. Distinguished audio system come with Texas senator Ted Cruz and previous secretary of state Mike Pompeo.

• Financial knowledge: US preliminary jobless claims, a proxy for lay-offs, are anticipated to stay low at 195,000 for the week finishing February 25.

• Effects: Division retail outlets Macy’s and Nordstrom in addition to Kroger, Highest Purchase and Costco. From tech, Hewlett-Packard and Broadcom.

Thank you for all of the comments on FirstFT’s new glance up to now. Stay it coming at firstft@feet.com.

As of late’s most sensible information

1. Structures fabrics staff CRH is the most recent London-listed corporate to transport its number one list to New York the place, it says, the valuations are upper. The verdict through CRH, which has a marketplace capitalisation of £30bn and is primarily based in Dublin, is a contemporary blow to London’s capital marketplace which has been hit through a wave of takeovers and take-private offers.

2. Tesla executives touted price efficiencies at the day gone by’s investor day, because the electric-car maker gears as much as produce a extra inexpensive type. Lars Moravy, head of auto engineering, mentioned the brand new “huge quantity” automobile could be produced at plenty of vegetation, together with a brand new facility in Mexico. However buyers reacted negatively and the stocks fell 5 in line with cent.

3. Hedge fund Bridgewater Buddies is reducing 8 in line with cent of its body of workers in the most important shake-up of its operations since founder Ray Dalio ceded keep an eye on. In a memo despatched to personnel the day gone by, leader govt Nir Bar Dea additionally mentioned Bridgewater could be capping the scale of its greatest fund because it tried to make up floor misplaced to opponents.

4. EXCLUSIVE: Western allies are pushing the United Arab Emirates to halt exports of vital items to Russia as they search to dam the cargo of elements fuelling Moscow’s army marketing campaign. Officers from america, EU and UK not too long ago visited the Gulf state, resources say. Learn extra at the west’s worries about “re-exporting”.

5. Joe Biden is predicted to factor his first presidential veto to protect a brand new ESG rule that permits fund managers to imagine environmental, social and governance components in funding selections, after two Democratic senators sided with Republicans to oppose it. Right here’s why they broke ranks.

The Large Learn

Had it now not been for his physician, André de Ruyter would almost certainly have died, the previous leader of South Africa’s collapsing electrical energy application Eskom informed the FT. The tried poisoning, via cyanide-laced espresso, is a dramatic instance of ways illegal activity has seeped into South Africa’s state, de Ruyter tells Africa editor David Pilling.

We’re additionally studying . . . 

• Lab leak idea: Covid’s origins are nearly irrelevant, writes Edward Luce, following the discharge of recent studies at the lab-leak idea. He says humanity’s pastime is to forestall the following pandemic from going down.

• May psychedelics lend a hand remedy anorexia? The usage of a substance present in magic mushrooms to regard the consuming dysfunction is appearing promising effects.

• China’s financial coverage crew overhaul: Xi Jinping is making ready to nominate depended on allies to supervise key portions of the financial system as he plans “far-reaching” reforms.

Chart of the day

The sector’s greatest crypto alternate is beneath force. Buyers have pulled greater than $6bn out of a Binance-branded virtual token referred to as BUSD prior to now month, in an indication {that a} contemporary US regulatory crackdown on virtual belongings is making waves.

Take a spoil from the scoop

You’ve answered to an ad in search of group for a deadly naval expedition. A flyer for the polar voyage promised months of darkness, low wages and a slender likelihood of protected go back. From the very get started of the sport The Light Past, it’s transparent that you’ll be fortunate even to continue to exist.

Further contributions through Emily Goldberg and Tee Zhuo