A week ago in Iowa, Ron DeSantis scathingly described how Donald Trump was forcing Republican politicians to “kiss the ring” of the former president in order to earn his praise and avoid public humiliation. But on Sunday afternoon the Florida governor wasted no time in bowing down to Trump, endorsing him as he exited the
News
Shortly after Vladimir Putin ordered the invasion of Ukraine in 2022, the US banned all imports of Russian oil, liquefied natural gas and coal. But not all energy supplies were included in the US sanctions, nor in those of its European allies. On the contrary, western powers have taken care not to interrupt the flow
Populism is a potent form of democratic politics. Unfortunately, it is also a destructive one, weakening institutions, damaging debate, and worsening policy. It can threaten liberal democracy itself. The Brexit saga is an object lesson in the dangers: it has damaged what was long thought to be among the world’s most stable democracies. The recent
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Several days ago, over the Martin Luther King Jr holiday weekend in the US, the big four accounting firm PwC announced that it would be dropping some of its diversity targets in the US. Race-based
Stay informed with free updates Simply sign up to the Hedge funds myFT Digest — delivered directly to your inbox. The world’s most successful hedge funds made their biggest profits on record last year as punchy bets on stock markets paid off when share prices surged. The top 20 managers made profits for investors of
Round two of the Republican primary season takes us to New Hampshire this week, and former president Donald Trump is once again the runaway favourite. The pressure at this Tuesday’s caucuses is on the also-rans, particularly Nikki Haley. She finished third in Iowa last week, underperforming polls, and is facing pressure from her backers to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Macquarie has raised a record of more than €8bn for its new European infrastructure fund in the latest sign of investor appetite for critical assets. The Australian bank and investment group said its seventh Europe
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. ExxonMobil has filed a lawsuit to try to stop a shareholder climate resolution from going to a vote at its annual investor meeting, in a first for the US oil major that marks an escalation
Ron DeSantis has suspended his campaign for president and endorsed Donald Trump as the Republican nominee for the White House in 2024, in a significant blow to Nikki Haley with just two days to go until the New Hampshire primary. DeSantis announced his decision in a video posted to social media on Sunday afternoon, saying
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Ron DeSantis is facing the prospect of finishing third in the crucial New Hampshire Republican primary amid rising pressure to abandon his presidential campaign, with Donald Trump holding a clear lead over Nikki Haley ahead
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The EU has urged member states to impose “consequences” on Israel if its Prime Minister Benjamin Netanyahu continues to oppose Palestinian statehood, as Brussels looks to step up pressure on the premier to advance efforts
Stay informed with free updates Simply sign up to the Media myFT Digest — delivered directly to your inbox. When Donald Trump took to the stage last Monday after his historic victory in the Iowa Republican caucuses, he struck a relaxed, disarming tone. He spoke fondly of his late mother-in-law (whose home cooking, he joked,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. When the Financial Times interviewed James Gorman just before Christmas, the then-Morgan Stanley chief executive was clear: the past decade had produced huge growth for Wall Street groups like his, while European competitors had been
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK has been a world leader in academia for centuries. Its philosophers, inventors and scientists have had a significant global impact. That legacy continues today: 17 of its universities rank in the global top
McKinsey boss Bob Sternfels is facing a tougher than expected bid for re-election after a backlash to his restructuring of the consulting firm and a slowdown in growth. Sternfels failed to clinch a second three-year term on the first round of voting for global managing partner after more than half of McKinsey’s 750 senior partners
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Operations have been suspended at a major gas terminal outside St Petersburg after a large fire broke out, which the Russian operator said had been caused by “external action”. Novatek, Russia’s second-largest natural gas
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US corporate bond markets are “on fire” as companies have sold a record $150bn of debt since the start of this month, the busiest opening to the year for more than three decades. Investment-grade groups
The market town of Bawku, crammed into a nook of Ghana’s most north-eastern region, is about a day’s drive from the country’s coastal capital, Accra. But the distance between the two places is not merely geographical. While Accra boasts rich culture, nightlife and a steady stream of tourists, rural Bawku has become a tinderbox of
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. The writer is a former president of the World Bank As Ukraine struggles to survive Russia’s relentless onslaught, the G7 countries are still debating the transfer of frozen Russian reserves to Ukraine. Some hesitate
Across the dozens of economic indicators released by China’s National Bureau of Statistics this week, few demonstrated the difficulty of pinning down the state of the world’s second-biggest economy better than the steel data. Just months ago, steel output — previously subject to an informal cap as Beijing sought to curb emissions and production —
Just five years ago, Andreas Wolf was struggling to convince investors of his plans to turn the Bavarian automotive supplier Vitesco Technologies into a specialist in parts and systems for electric vehicles. “Nobody believed in it,” the Vitesco CEO said, underscoring just how late the incumbent automotive industry was to realise that combustion engine cars