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“At business school,” said the seasoned banker, “they teach you a simple lesson — if a company is trading for a sustained period below the value of its net assets then it should be closed down or broken up.” A study by Boston Consulting Group, due to be published next month but foreshadowed at the

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UBS has sold the Credit Suisse corporate jet that the collapsed bank’s then-chair, António Horta-Osório, used when breaching Covid lockdown rules to attend high-profile sporting events. The Dassault Falcon 7X was sold in recent weeks

Sir Keir Starmer, head of the UK’s opposition Labour party, has heaped praise on Margaret Thatcher in a pitch to Tory voters, provoking a backlash from both leftwing activists and the Conservative party. Starmer chose The Telegraph, the rightwing newspaper considered the house journal of Tory members, as the platform for his thoughts on the

Stay informed with free updates Simply sign up to the Chinese politics & policy myFT Digest — delivered directly to your inbox. The writer is a former Nato secretary-general This week, EU leaders will touch down in Beijing for the first in-person EU-China summit in four years. The meeting comes at a moment of geopolitical

Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. EU leaders risk leaving Ukraine empty-handed at a perilous moment in its war against Russia as divisions over finances threaten a €50bn lifeline for Kyiv and Hungary vows to thwart its EU membership talks.

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A US warship and several commercial vessels came under attack in the Red Sea on Sunday, according to the Pentagon, in a potential escalation of the fallout from Israel’s conflict with Hamas in a vital

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Evergrande’s international creditors are pressing for a last-minute agreement to avert a court order to liquidate the highly indebted Chinese property developer. Investors in Evergrande’s debt have been talking to the company about various restructuring

Stay informed with free updates Simply sign up to the EU economy myFT Digest — delivered directly to your inbox. As Greece sank into the mother of all debt crises in 2010, the German tabloid Bild ran a story under the headline: “Sell your islands, you bankrupt Greeks! And sell the Acropolis, too!” One former

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israel has ordered Palestinians in Gaza to evacuate a large area of land in the south of the strip, while stepping up an aerial bombardment that has killed hundreds of people since a fragile truce

Russia’s military has bought hundreds of Chinese all-terrain vehicles popular in the US, in a move that risks heightening tensions between the west and Beijing over President Xi Jinping’s tacit backing for Moscow’s invasion of Ukraine. Russia’s purchases open up the buggy manufacturer Shandong Odes Industry to retaliation from authorities in the US, where the

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Two panels of top legal experts will assist a government-ordered independent review looking at potential reforms of disclosure rules and fraud laws following the collapse of a series of white-collar criminal investigations in English courts.

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writers are IMF managing director, European Commission president and WTO director-general At COP28, the world must face the reality that business-as-usual is not delivering the needed cuts to greenhouse gas emissions. For most countries, squeezed

What would another Trump administration look like? As horrible as many find the prospect, it’s a topic that executives are beginning to have to grapple with. For reasons that range from inflation to the conflict in Gaza to Biden’s age, the current administration’s deft handling of a recession, a pandemic and war in Ukraine isn’t

Central bankers stand accused of reacting too slowly to signs that the inflation crisis is dissipating, less than two years after they were criticised for being late in responding to the most brutal surge in prices for a generation. Some policymakers are already warning that by waiting too long to cut borrowing costs, central banks

Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. Defaults by Chinese borrowers have surged to a record high since the outbreak of the coronavirus pandemic, highlighting the depth of the country’s economic downturn and the obstacles to a full recovery. A total of

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US defence secretary Lloyd Austin has warned Israel that it risks “strategic defeat” unless it protects Palestinian civilians in Gaza. In a sign of growing tensions between the close allies as Israel resumes its military

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israeli forces battered targets in densely populated southern Gaza on the second morning of renewed fighting with Palestinian militants on Saturday after a truce broke down. The latest round of hostilities has killed at least

The day the truce between Israel and Hamas shattered, Israeli war planes swooped over Gaza to start bombing again. In Rafah, the furthest edge of southern Gaza before the walled border with Egypt, a man covered in ash screamed to the heavens, begging for mercy. “Where is the world?” he wailed. “Can’t you see two

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UN climate talks on how to limit global warming have focused on renewable energy for too long, according to the chief executive of ExxonMobil, the biggest western oil supermajor. In an interview with the Financial

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Sir Richard Branson has ruled out putting more money into his lossmaking space travel company Virgin Galactic, saying his business empire “does not have the deepest pockets” any more. Virgin Galactic, which was founded by

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is clinical professor for business and society, and founding director of NYU Stern Center for Sustainable Business Amid a mounting backlash against ESG, critics have argued that investors should care less about benchmarks