At a San Francisco hotel on Wednesday evening, Chinese President Xi Jinping delivered a message to US business that got a standing ovation: China is a big market and a friend. Crowding into the Hyatt Regency to meet the Chinese leader were Elon Musk of Tesla, Tim Cook of Apple and Albert Bourla of Pfizer,
News
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. So where did the currency wars go? The renminbi and yen are at their weakest against the dollar since 2008 and 1990, respectively. The Chinese current account surplus, properly measured, is probably at or approaching
“In finance, names can be a bit misleading,” intones an American-accented voiceover on a promotional video for the London Stock Exchange Group. “Take ours, for instance,” it continues. Black cabs driving around London carry adverts showing the company’s logo alongside pictures of the Eiffel Tower and the Statue of Liberty. The video cites the 190
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. The writer is an FT contributing editor, the chair of the Centre for Liberal Strategies, Sofia, and fellow at IWM Vienna “Nobody believes in our victory like I do,” declared Ukrainian president Volodymyr Zelenskyy
A year ago Bobby Jain, a top executive at Millennium Management who was regarded by many at the hedge fund as a potential successor to Izzy Englander, abruptly departed. It had become clear to him that the firm’s 75-year-old founder was not going anywhere. Englander had also grown uncomfortable with the idea of one person
Israeli president Isaac Herzog has said that his country cannot leave a vacuum in Gaza and would have to maintain a “very strong force” in the coastal enclave for the near future to prevent Hamas re-emerging in the besieged strip. In an interview with the Financial Times, Herzog said the government was discussing many ideas
Stay informed with free updates Simply sign up to the US-China relations myFT Digest — delivered directly to your inbox. US President Joe Biden and his Chinese counterpart Xi Jinping have reached an agreement to resume communications between their countries’ militaries at a summit in San Francisco designed to stabilise relations after several years of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. With a unanimous legal blow, the UK Supreme Court toppled the central pillar of the Conservative government’s plan to deliver one of its top political promises: to “stop the boats”. Justices ruled that deporting to
The US, UK, and Russia abstained from voting on a successful UN Security Council resolution on Wednesday, which called for “urgent and extended” humanitarian pauses in the Gaza Strip. The resolution, sponsored by Malta, does not mention a ceasefire, and softened language from a previous draft, turning a “demand” for pauses into a “call”. The
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Labour leader Sir Keir Starmer on Wednesday suffered a major rebellion over his stance on the Israel-Hamas war, as 10 frontbenchers quit and 46 other MPs defied him to back a parliamentary motion calling for
Stay informed with free updates Simply sign up to the US-China relations myFT Digest — delivered directly to your inbox. A Shanghai-based manufacturer of advanced laser sensors for cars has accused the Biden administration of fostering a “xenophobic” environment for Chinese investors that will leave the US at risk of losing out on automotive innovation.
Stay informed with free updates Simply sign up to the US-China relations myFT Digest — delivered directly to your inbox. Joe Biden and Xi Jinping have begun a high-profile summit in San Francisco in a renewed attempt to stabilise US-China relations after several years of rising tensions and mounting concern about a possible conflict over
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The first time I witnessed a spontaneous pro-Palestine gathering was 20 years ago when I was doing a master’s degree in London. Back then I was astonished to see European students expressing such passionate support
Stay informed with free updates Simply sign up to the US-China relations myFT Digest — delivered directly to your inbox. The world’s two biggest polluters have made a positive “gesture” to co-operate on climate change, with the US and China agreeing to accelerate the rollout of renewable energy to displace their heavy reliance on fossil
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer, a former government lawyer, is an FT contributing editor The UK Supreme Court has held that the Rwanda removals policy is unlawful — but it has deftly done so without depending on the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK Supreme Court has ruled that the government’s Rwanda migration scheme is unlawful, delivering a severe blow to Prime Minister Rishi Sunak’s flagship policy aimed at halting irregular Channel crossings. Five judges on Wednesday
Rishi Sunak was quick to claim credit for the lowest annual UK inflation rate in two years on Wednesday, saying that taming price rises had required “hard decisions and fiscal discipline” and would ease pressures on families. But even as the prime minister declared that he had met his pledge to voters to halve price
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. It is a measure of how far British politics has fallen that the return of David Cameron to high office has been heralded as a restoration of competence. The former prime minister, now enjoying the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK Supreme Court has unanimously ruled that the government’s policy of deporting asylum seekers to Rwanda is unlawful, in a major blow to Rishi Sunak’s government. Lord Robert Reed, president of the Supreme Court,
As they patch up their bond trading operations following the hack of Industrial and Commercial Bank of China, brokers are also piecing together how China’s largest lender became such a significant player in US Treasuries that the attack on its systems could disrupt the $26tn market. The impact of the attack was still being felt
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. St James’s Place has defended its pay strategy after shareholders expressed their disquiet at the “windfall gains” due to executives through a share plan. More than a fifth of shareholders voted against the remuneration report