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Russia has authorised unreinforced oil tankers to sail through its icy Northern Sea Route for the first time, triggering warnings Moscow is risking a catastrophic Arctic spill as it reroutes sanctions-hit energy exports to Asia. Two tankers were granted permission in August to carry out the 3,500-mile long journey along Russia’s northern coast, despite not

Receive free The Long View updates We’ll send you a myFT Daily Digest email rounding up the latest The Long View news every morning. The response in the euro to this week’s latest crank higher in interest rates tells us a good deal about how investors are looking at the world. The inflation-focused European Central

Receive free Gibraltar updates We’ll send you a myFT Daily Digest email rounding up the latest Gibraltar news every morning. Super-powered dinghies carrying contraband tobacco are crashing through hopes of better relations between Spain and the UK over the British territory of Gibraltar. Cigarettes are cheap in Gibraltar because the British territory does not apply

For drinkers at the Coach House in central London on a busy work night this week, there was an uncomfortable piece of news to digest: the price of Britain’s favourite alcoholic beverage had just gone up — again. Stonegate, Britain’s biggest pub company which runs the Coach House, has announced it will charge pubgoers 20p

Receive free EU trade updates We’ll send you a myFT Daily Digest email rounding up the latest EU trade news every morning. The EU has ignored pleas from Poland and ended a partial ban on grain imports from Ukraine, asking Kyiv instead to voluntarily prevent surges of produce into neighbouring countries. Poland, Hungary, Romania and

Bernard Looney spent the last 32 years crafting a near-perfect career at BP. This week it unravelled in a matter of days. The Irish chief executive resigned with immediate effect on Tuesday evening, shortly after the Financial Times reported that he was due to leave the company after failing to disclose past romantic relationships with

Receive free Diamonds and gemstones updates We’ll send you a myFT Daily Digest email rounding up the latest Diamonds and gemstones news every morning. G7 governments are expected to announce a ban on imports of Russian diamonds that will come into force next January in a move that will divide the $74bn global market for

Receive free UK industrial strategy updates We’ll send you a myFT Daily Digest email rounding up the latest UK industrial strategy news every morning. Jeremy Hunt has insisted Britain is not about to adopt Joe Biden’s “subsidy bowl” approach to economic policy, on the day he signed off a £500mn subsidy package for Tata to

Your browser does not support playing this file but you can still download the MP3 file to play locally. The Labour leader Keir Starmer is attempting to seize the initiative on dealing with clandestine immigration. Lucy Fisher is joined by the FT’s Stephen Bush and Miranda Green to examine his plan to strike a returns

On a balmy Friday evening in the middle of August, senior partners from two of America’s most powerful law firms were among the thousands packed into Chicago’s Wrigley Field as Bruce Springsteen and the E Street Band blasted out classics including “Born to Run” and “Wrecking Ball”. Jon Ballis, the chair of Kirkland & Ellis,

Receive free UK manufacturing updates We’ll send you a myFT Daily Digest email rounding up the latest UK manufacturing news every morning. Britain will pay subsidies of up to £500mn to Tata Group to secure the future of the country’s biggest steelworks at Port Talbot in Wales in a deal that could result in as

Johnny Taylor, independent director at logistics company XPO, said a “hot topic” at a gathering of board members in New York this week — beyond the impact of shareholder activism, cyber threats and artificial intelligence — was Bernard Looney’s abrupt resignation as BP chief executive. Looney’s departure over the non-disclosure of past relationships with colleagues

Receive free UK labour disputes updates We’ll send you a myFT Daily Digest email rounding up the latest UK labour disputes news every morning. The UK’s train drivers’ union has announced a new set of strikes targeting the Conservative party’s annual conference in October. Aslef said on Friday that drivers at 16 train companies would

Receive free Retail & Consumer industry updates We’ll send you a myFT Daily Digest email rounding up the latest Retail & Consumer industry news every morning. When Karl Birkenstock took the contoured “footbed” insole invented by his grandfather Konrad and turned it into a health sandal in 1963, it was not an immediate hit. But

Receive free Markets updates We’ll send you a myFT Daily Digest email rounding up the latest Markets news every morning. Markets across Asia rose on Friday as sentiment was boosted by positive economic data out of China and tailwinds from the successful listing of UK chip designer Arm. Hong Kong’s Hang Seng stock index led

“Yes, people tend to want [results] immediately. This is understandable,” President Volodymyr Zelenskyy told a conference in Kyiv last weekend, speaking about Ukraine’s summer counteroffensive. “But this is not like a feature movie, where everything happens in an hour and a half.” The idea that Ukrainian forces, lacking any air cover, would storm through Russian

Receive free Data Points updates We’ll send you a myFT Daily Digest email rounding up the latest Data Points news every morning. Nimbys have long opposed housebuilding on the grounds that it lowers the value of their own properties. But lately they have found unexpected allies in the leftwing “supply scepticism” movement, whose advocates argue

Receive free Central banks updates We’ll send you a myFT Daily Digest email rounding up the latest Central banks news every morning. Complaining that central bankers are squeezing borrowers is a bit like grumbling that weight-loss drugs are making your face look gaunt. Looking pinched is part of the process. Officials at the Federal Reserve,

There’s an old joke that Saudis have a lot of money not because of oil, but because they don’t let their wives spend it. With prices making 2023 highs this week, saying no must be getting harder, even if first-half oil revenues for the kingdom were a quarter down on last year. Extended production cuts

For years, Arm, the SoftBank-owned chip design company, was happy to collect crumbs from the table of some of the world’s most powerful semiconductor companies. It levied tiny charges for its designs, bringing it an average of only 9 cents for each of the 30bn new computing devices that depended on its technology last year.

Arm’s successful initial public offering this week and plans for other substantial listings are stirring Wall Street bankers’ hopes for a return of billions in fees after a year and a half in which new issues were all but stalled. SoftBank-backed chip designer Arm expects to pay its underwriters as much as $104.6mn in fees,