Parkview Gardens, a short subway ride from the White House, is an unlikely home of the free and the brave.
Half of the 600 apartments in this red-brick housing estate in Maryland are rented by refugees, people who have fled trouble and now live in the US. Many consider themselves lucky. They have visas, they get some government aid, and they are safe. But all offer some hard realities: nothing is easy about beginning again.
Five families – from Iraq, Bhutan, Rwanda and Kosovo – tell the Financial Times about their past lives and what they face now in America and living at Parkview Gardens. Click here for their stories (free)
FT analysis of new Census Bureau data shows the scale of the task facing the Obama administration Read more
by Gavin Jackson and Keith Fray
On Tuesday the International Monetary Fund released its latest World Economic Outlook. A striking new finding emerges: the seven largest emerging markets are now bigger, in gross domestic product terms, than the long established G7 group of industrialised nations, when measured at purchasing power parity (PPP). Read more
Banks have paid more than $100bn in legal settlements with US regulators since the financial crisis, data compiled by FT reporters shows.
Update, November 12, 2014: Our dataset now includes the settlements with the the US Office of the Comptroller of the Currency and the Commodity Futures Trading Commission relating to the global probe into allegations of widespread forex rate-rigging. The new data bring the total fines and settlements in 2014 to $56.7bn, making it the most expensive year on record. Read more
After five years of historically low interest rates across the US, UK and eurozone, Wednesday’s vastly improved job forecast from the Bank of England raised the prospect of a return to more normal monetary policy.
A report out today from McKinsey attempts to quantify the impact of years of ultra lose monetary policy has been on the winners – and losers. Whilst there are few surprises in the report, it does attempt to put numbers on the winners and losers.
Unsurprisingly, it is governments that come out on top. The consultancy estimates that between 2007 and 2012 the US, UK and eurozone governments collectively benefited to the tune of $1.6tr from lower borrowing costs and the increased profits from central banks.
For consumers though it is a mixed bag. Read more
Gentrification and commercial developments are breaking up Chinatowns in US and British cities, squeezing Chinese communities out of the vibrant neighbourhoods that grew up around earlier generations of migrants.
The changing demographics of New York City further highlight this pattern, with Asian communities having sprung up in Flushing and Queens, where they were traditionally focused in Lower Manhattan.
The animated maps above show decadal changes in the spread of localised Chinese and Asian communities in London, New York and San Francisco, created using data from the 2001 and 2011 editions of the UK census and the US censuses of 2000 and 2010. Read more