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Since the Federal Reserve started raising interest rates in its battle against inflation 18 months ago, the US central bank has made one thing clear: all policy options must be kept on the table at all times. From jumbo interest rate rises — it has implemented several — to the repeated warnings that they could

This article is an on-site version of our Unhedged newsletter. Sign up here to get the newsletter sent straight to your inbox every weekday Good morning. On Tuesday, we asked what it was about Disney’s streaming business that makes its economics so much worse than Netflix’s. It seems that Disney thinks part of the reason

The evening Israel declared war on Hamas in Gaza, armed Jewish settlers descended on the Palestinian village of Wadi al-Seeq in the occupied West Bank. The village’s children tremble with fear as their parents recount how the settlers dragged three men from their families, stripped them to their underwear, blindfolded them with their own T-shirts

A year ago Goldman Sachs chief executive David Solomon pinned his hopes for reviving the Wall Street bank’s stock market valuation on a newly merged asset and wealth management division. As Solomon has faced down unrest inside the bank, his job security may depend on it. Goldman executives said they “see a path” to generating

Stay informed with free updates Simply sign up to the US interest rates myFT Digest — delivered directly to your inbox. Everyone is struggling to see where interest rates are headed. Investors are jittery, as shown by gyrating long-term Treasury yields. America’s central bankers are trying to project calm, but they are in a fog

In Yuxinzhuang village, a warren of narrow streets on Beijing’s outskirts known for its vibrant community of migrant workers, Zhou wolfs down noodles in a tiny Muslim restaurant. The 30-year-old father of one has a job setting up shell companies with fake cash flow for struggling small business owners, who then use them to raise

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US Treasury department is slowing the pace at which it issues longer-dated debt, following a surge in borrowing costs that has roiled global markets. The announcement on Wednesday follows the Treasury’s decision in August to

Stay informed with free updates Simply sign up to the US interest rates myFT Digest — delivered directly to your inbox. The Federal Reserve held interest rates at a 22-year high on Wednesday but kept open the possibility of additional monetary tightening amid mounting evidence the US economy remains strong. The meeting is the second

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The number of ships allowed to cross the Panama Canal each day will be slashed in the coming months as climate change increasingly rocks global trade. More than 3 per cent of world trade passes through

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Why after all the good work dragging itself to the brink of power is Labour risking its ruthlessly secured unity over the issue of Palestine? Even close allies of the leader are angry at Sir

Private equity executives are preparing a campaign to water down Labour’s promise to end their favourable tax treatment in the UK as they build closer ties with the opposition party ahead of the general election. The buyout industry has in recent months largely avoided directly lobbying the opposition party on the policy, instead presenting itself

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Downing Street’s response to Covid-19 was hampered by a “macho” culture “contaminated by ego”, according to Britain’s former highest-ranking female civil servant, with Boris Johnson believing the country would “sail through” the crisis. Helen MacNamara

Alone in a windowless room in the Kremlin, Vladimir Putin last week presided over Russia’s nuclear forces as they rehearsed a massive retaliatory strike from air, land, and sea. Simulating a radioactive mushroom cloud that could render much of the planet uninhabitable served as a stark reminder of the nuclear deterrent the Russian president still

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Lawyers are taught never to ask a witness a question to which they do not know the answer. That logic also applies to wartime alliances. Joe Biden has hitched his fortunes to a man —

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The world’s largest offshore wind developer Ørsted has abandoned two key US projects and announced a higher than expected writedown of its portfolio, sending shares in the group down more than 20 per cent. The

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The EU’s stores of natural gas are nearing full capacity, leading the bloc’s energy companies to park excess reserves in Ukraine ahead of the peak demand of the winter months. According to figures from Gas

In early March, Carlyle Group appeared close to a takeover that valued healthcare software company Cotiviti at $15bn. It was just the sort of audacious deal that large private equity firms have been pulling off for much of the past decade. More than a dozen private lenders, including the credit arms of Blackstone, Apollo Global,

Four people were in the room. That much is uncontested. Caroline Ellison, Gary Wang, Nishad Singh and Sam Bankman-Fried sat together last June in the Bahamas office of FTX, the crypto exchange founded by Bankman-Fried and Wang, then worth $40bn. Bankman-Fried and Wang also owned Alameda, a private trading firm that Ellison ran. And on

UK politicians have been accused of taking a cavalier approach to record-keeping by using easily deleted WhatsApp messages for official business after a slew of revelations this week from the official Covid-19 Inquiry.  The hearing into the UK government’s handling of the worst pandemic in a century has unearthed a trove of embarrassing exchanges between

Robotic arms assemble cars at the Leapmotor electric vehicle factory in Jinhua, Zhejiang province. China’s manufacturing activity contracted in October © China Daily via Reuters China’s manufacturing activity contracted in October, according to a closely-watched private gauge, dashing hopes for a recovery. The Caixin purchasing managers’ index for manufacturing came in at 49.5 for the

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. As Israel’s ground offensive in Gaza began in earnest, tanks and armoured vehicles rumbled into the coastal enclave through breaches in the border wall that surrounds it. Since launching its incursion over the weekend, Israel’s