Brookfield's Bold $1.7bn Move in the US Renewable Sector

Financial Times highlights major stories: Brookfield's purchase of National Grid’s US renewables for $1.7bn; EU-UK defense funding talks amidst concerns over US pullback; Emirates' caution against forcing airlines to finance Heathrow's third runway; Manchester United cuts costs under Sir Jim Ratcliffe’s watch.

In a significant transaction, asset manager Brookfield is acquiring the US renewables arm of London-listed National Grid for $1.7 billion. This move underscores Brookfield's commitment to expanding its renewable energy portfolio in the US market.

Concurrently, the UK and the EU are engaged in discussions to establish a Europe-wide defense funding framework amid apprehension over diminishing US military support. Talks have introduced the concept of a 'Rearmament Bank' to facilitate these efforts.

Meanwhile, Emirates' president Tim Clark has expressed concerns over the financing of Heathrow's third runway, warning of potential legal challenges if airlines are mandated to shoulder higher landing fees. Moreover, Manchester United, under the stewardship of Sir Jim Ratcliffe, is aggressively slashing costs, including eliminating free meals for staff, to rejuvenate the team.