Northvolt has been plagued by problems from incompetent management and poor safety standards to over-reliance on Chinese machinery, according to current and former workers at the cash-strapped Swedish battery maker. Ten past and present workers of Europe’s best-funded start-up told the Financial Times its crisis had been caused by a litany of issues as it
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Keep abreast of significant corporate, financial and political developments around the world. Stay informed and spot emerging risks and opportunities with independent global reporting, expert commentary and analysis you can trust. Subscribe to unlock this article Try unlimited access Only 1 € for 4 weeks Then 69 € per month New customers only Cancel anytime during your
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Goldman Sachs’ quarterly profits jumped 45 per cent to $3bn in the third quarter, boosted by its equity trading business, even as the investment bank took another hit from its retreat from retail banking. Goldman’s
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The gambling industry generates excitement by advertising long-odds possibilities rather than expected outcomes. For example: Ministers are considering a tax raid of up to £3bn on the gambling sector as Rachel Reeves casts around for
Unlock the US Election Countdown newsletter for free The stories that matter on money and politics in the race for the White House I never used to look at airline route maps too closely. But now, when I journey from one peaceful country to another, I take a keener interest in where exactly we are
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Chinese stocks were volatile on Monday after Beijing sought to reassure investors over the weekend about its plan to increase spending to boost the world’s second-largest economy. The finance ministry on Saturday said it planned
Talk to 10 different wealth industry professionals about when you become super-rich (an ultra-high-net worth individual, or UHNW, in industry parlance) and you will get 10 different answers. For a law firm, it can mean having investable assets — spare cash not tied up in property — of $10mn; for a wealth manager, it can
Keep abreast of significant corporate, financial and political developments around the world. Stay informed and spot emerging risks and opportunities with independent global reporting, expert commentary and analysis you can trust. Subscribe to unlock this article Try unlimited access Only 1 € for 4 weeks Then 69 € per month New customers only Cancel anytime during your
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. DP World has shelved an announcement of a £1bn cash injection into its main London port on the eve of the UK’s international investment summit, triggering a row between ministers over who was to blame.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Ireland is awash with cash from record surpluses, but a failure to deliver major infrastructure despite extravagant spending has sparked a painful question: does the EU nation have more money than sense? Nine years after
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rachel Reeves has been warned not to sharply ramp up government borrowing in a push for more public investment, as the chancellor considers a loosening of the fiscal rules in the October 30 Budget. Analysis
Stay informed with free updates Simply sign up to the European banks myFT Digest — delivered directly to your inbox. The writer is chair of BBVA Mergers and acquisitions are firmly back into the spotlight in Europe and for good reason. Apart from BBVA’s offer to the shareholders of Banco Sabadell, Italy’s UniCredit has built
Unlock the US Election Countdown newsletter for free The stories that matter on money and politics in the race for the White House Israel has told the US that defence minister Yoav Gallant will no longer travel to Washington this week, prompting fears the cancellation could jeopardise co-ordination with Israel over its response to Iran’s
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Israeli military deployed thousands more troops in Lebanon and signalled an expanded ground offensive against Hizbollah, even as the militant group launched one of the largest rocket barrages into northern Israel since the conflict
If vice-president Kamala Harris defeats Donald Trump in November, most of America’s allies will greet her victory with thinly veiled delight. “If she wins,” says an official from one of its long-standing Asian partners, “we will have a national holiday!” The official was barely joking, such are the worries in many capitals over the presumed
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A strong rally in the renminbi is testing Beijing’s currency management policies, after China’s stimulus plans and the US Federal Reserve’s embrace of lower interest rates sent Asian currencies surging against the US dollar. The
When Wall Street scrambled to launch bitcoin funds earlier this year, there was just one trading company named in regulatory filings as an anchor market-maker for every single one: Jane Street. The move underscored how a quirky and opaque New York firm has used its dominance in exchange traded funds and embrace of more finicky
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Messages from the archive of Rutherford Hall, critical communications strategist Rutherford’s Rule: I have many adages about how to do business but there is one I stress so often my colleagues now routinely refer to
After Bill Clinton’s first official meeting with Benjamin Netanyahu in 1996, he turned to an aide and said: “Who is the fucking superpower here?” Four US presidents later, nobody would think of posing that question about Israel’s pugilistic prime minister. Netanyahu long ago established what military analysts call “escalation dominance” over whoever sits in the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Klarna’s board has agreed to oust a key ally of co-founder Victor Jacobsson, underlining a deep governance rift at the Swedish buy-now pay-later company as it prepares to go public, according to people with knowledge