Since the great financial crisis of 2007-08 regulators have engaged in the biggest push to de-risk the global financial system since the 1930s. Yet instability and flawed risk management have proved extraordinarily resistant to this regulatory onslaught. The collapse last year of Silicon Valley Bank, the 16th largest in the US, exposed very basic mistakes,
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As Iran launched an attack on Israel on Saturday, executives at one of Europe’s largest private equity groups felt a sense of déjà vu. Russia’s invasion of Ukraine and the Israel-Hamas war had prompted CVC Capital Partners to call off its previous two attempts to list on Amsterdam’s stock exchange, the firm’s biggest gambit since
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer, an FT contributing editor, is chief executive of the Royal Society of Arts and former chief economist at the Bank of England In the early years of inflation targeting in the UK, the then
Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. China’s gross domestic product grew 5.3 per cent in the first quarter against a year earlier, exceeding market expectations as Beijing tries to steer a manufacturing-led revival of the world’s second-largest economy. The strong first-quarter
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. In March, as a visiting delegation of Swedish investors and bankers passed through China’s factories and shipyards for the first time since the pandemic, what they witnessed was a shock to their systems. Across the
Stay informed with free updates Simply sign up to the US foreign policy myFT Digest — delivered directly to your inbox. The Speaker of the US House of Representatives has said the chamber will vote on separate bills to provide aid for Ukraine and Israel this week, a move that faces legislative hurdles but could
The benchmark S&P 500 slipped 1.2 per cent, with 85 per cent of stocks falling. The Nasdaq Composite lost 1.8 per cent as every Magnificent Seven tech stock fell. The small-cap focused Russell 2000 fell 1.4 per cent. The Vix — A closely watched gauge of US stock market volatility — closed at its highest
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A “blowout” March retail sales report sparked a sell-off in US government debt and shook global currency markets on Monday, in the latest sign that the world’s largest economy may be running too hot to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Iran’s missile and drone assault on Israel marks a dangerous turning point in the hostilities triggered by Hamas’s October 7 attack and Israel’s retaliatory offensive in Gaza. It has thrust the decades-old shadow war between
Jordan was thrust into the spotlight in the early hours of Sunday as an inadvertent — and to some, unwanted — Israeli ally, after its jets shot down dozens of the Iranian missiles and drones fired at Israel that crossed into its air space. The kingdom has been a fierce critic of Israel’s war in
Manhattan prosecutors asked a judge to fine Donald Trump for his attacks on potential witnesses in the New York hush money case, as jury selection was set to begin in the first criminal trial against a former US president. A lawyer for the district attorney Alvin Bragg, who brought the case, told the court on
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Tesla is cutting more than 10 per cent of its workforce — at least 14,000 jobs — as the worldwide EV slowdown and brutal price war hits the American automaker. “We have . . . made the difficult decision
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Despite crude oil’s combustible properties, armed conflict near large oil producers — Russia and now Iran — has not ignited a sustained rise in price. Brent crude fell on Monday, dipping below $90 a barrel,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump’s social media company scrambled to find a new auditor after its first pick resigned after just a few months on the job, according to people familiar with the matter. Trump Media & Technology
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Goldman Sachs’ profits rose 28 per cent in the first quarter, as a strong performance by its trading business helped it surge past analysts’ estimates. The US bank said net income for the first three
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Western leaders increased pressure on Israel on Monday to exercise restraint following Iran’s drone and missile attack, as Benjamin Netanyahu’s war cabinet prepared to reconvene to discuss how it will respond. French President Emmanuel Macron
Water companies in England and Wales paid £2.5bn in dividends and added £8.2bn to their net debt in the two financial years since 2021, according to research by the Financial Times. The updated figures mean that the 16 water monopolies have paid out a total of £78bn in dividends in the 32 years between privatisation
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK water industry has little obvious in common with the banking sector — unless you count lame jokes about liquidity problems caused by leaky pipes and the toxic assets otherwise known as sewage spills.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is senior adviser at Engine AI and former chief global equity strategist at Citigroup Like many, I am depressed by the direction the world seems to be taking. Events in the Middle East
Stay informed with free updates Simply sign up to the US foreign policy myFT Digest — delivered directly to your inbox. Ever since Hamas attacked Israel on October 7 last year, America has pursued two key objectives. The first is to provide “ironclad” support for Israel. The second is to prevent a wider regional war
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Oil and Asian equity markets were muted on Monday following Iran’s military strike on Israel as traders shrugged off fears the conflict could escalate into a full-blown war and curb supplies from the region. Brent