Receive free G20 updates We’ll send you a myFT Daily Digest email rounding up the latest G20 news every morning. US president Joe Biden and Narendra Modi, India’s prime minister, moved to cement ties in defence and technology during a meeting in New Delhi that underscored the burgeoning strategic co-operation between the two countries. Gathering
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Three years ago, investors learnt that the mighty US Treasuries market is not always as mighty as it seems. When the Covid-19 shock hit in March 2020, US interest rates gyrated in a way that created massive losses for hedge funds that had taken hidden, highly leveraged bets on Treasuries, via derivatives and repurchase agreements
Stay informed with free updates Simply sign up to the Israeli-Palestinian conflict myFT Digest — delivered directly to your inbox. The writer was state secretary in the Norwegian ministry of foreign affairs when the Oslo Accords were signed. He is now secretary-general of the Norwegian Refugee Council Almost 30 years ago, as a young Norwegian
Receive free UK financial regulation updates We’ll send you a myFT Daily Digest email rounding up the latest UK financial regulation news every morning. The UK’s top financial regulator has vowed to take “prompt action” against any banks found to be unfairly refusing service to politicians and their families, as it outlined the terms of a broad
Britain’s economic performance since the start of the Covid-19 pandemic was much better than previously thought, the Office for National Statistics said on Friday as revised figures added nearly 2 per cent to the size of the economy. The changes mean that by the end of 2021, the UK economy was 0.6 per cent larger
This article is an on-site version of our Britain after Brexit newsletter. Sign up here to get the newsletter sent straight to your inbox every week Good afternoon. Another busy week in Brexitland that illustrates why diverging from the EU, even when it’s a potentially sensible idea, can still be a source of political risk.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Standard Chartered has named former Bank of America executive Diego De Giorgi as its new chief financial officer, replacing Andy Halford who is stepping down after more than nine years in the role. De Giorgi,
From the outside, the Global Opportunities Fund in Bermuda looked like any regular investment fund: broad, bland, and uncontroversial. On the inside, however, two men were using the fund for a specific purpose — to amass and trade large positions in shares of the Adani Group, one of the biggest and most politically connected private
Receive free Financial literacy updates We’ll send you a myFT Daily Digest email rounding up the latest Financial literacy news every morning. The writer is chief executive of Fair4All Finance and a previous CEO of Grant Thornton UK It is welcome that a spotlight is being shone on exclusion from vital financial services. But the
European stocks rose in morning trade on Wednesday, rebounding after hitting five-week lows in the previous session, as investors shrugged off further evidence of weakness in the Chinese economy. Europe’s region-wide Stoxx Europe 600 rose 0.2 per cent, led by consumer cyclical stocks. France’s Cac 40 was up 0.4 per cent and Germany’s Dax added
Lower gas and electricity prices drove a sharp drop in UK inflation to 6.8 per cent in July from 7.9 per cent the previous month, the lowest rate of price increases since February last year. The figure met economists’ expectations and will come as a modest relief after wage data on Tuesday was surprisingly strong, highlighting the work
The US is pushing Iran to stop selling armed drones to Russia as part of discussions on a broader “unwritten understanding” between Washington and Tehran to de-escalate tensions and contain a long-simmering nuclear crisis. The Biden administration has raised the issue with the Islamic regime at indirect talks in Qatar and Oman this year, according to
Greensill Capital charged an “unreasonable and excessive” fee for arranging financing for NHS building projects and deliberately avoided disclosing this fact, according to the collapsed company’s main insurer. Australian insurance agency Bond & Credit Co arranged $10bn of coverage for Greensill, which specialised in supply chain finance and collapsed into administration in 2021 after its
For more than a century now, US watchdogs have policed the financial landscape, seeking to protect investors from potential fraud and the consequences of their own blind optimism. Most of their efforts to ensure that investors get accurate information about what is happening to their money are focused on familiar products, such as stocks and
A year ago, President Joe Biden launched a new era of US industrial policy, signing into law the Inflation Reduction Act and the Chips and Science Act. Passed within days of each other last August, the two laws offered more than $400bn in tax credits, loans and subsidies, all designed to spark development of a
8/15/2023, 11:16:16 PM What to watch in Asia today George Russell in Hong Kong Events: Thailand’s Constitutional Court is expected to rule on an appeal by the Move Forward party against parliament’s refusal to permit leader Pita Limjaroenrat to become prime minister. The five-day Asia Pacific Orchid Conference opens at Singapore Expo. Indicators: The Reserve
Private equity group TPG Capital has approached EY about buying a stake in its consulting arm in a deal that would herald a second attempt at breaking up the Big Four firm. TPG outlined its plan for a debt-and-equity deal to separate the consulting arm from EY’s audit business in a letter sent to the
More than a dozen UK banks and building societies are set to reduce rates on fixed mortgage deals this week, reflecting market expectations that inflation is falling. But brokers are not predicting dramatic price cuts, with the Bank of England forecast to raise interest rates later in the year after figures on Tuesday showed wages
Donald Trump faced a new criminal indictment this week — the fourth set of charges brought by prosecutors within five months. The latest one, unveiled by Fulton County district attorney Fani Willis in Georgia, accuses Trump of conspiring with top aides and allies in a racketeering scheme to overturn the results of the 2020 election
British police said on Tuesday they had charged three Bulgarian nationals with identity document offences following a media report they were suspected of spying for Moscow. The trio were among five people arrested in February for a suspected breach of the Official Secrets Act, according to a Metropolitan Police statement. The BBC had earlier reported
The writer is Elihu professor of economics at Yale University, former chief economist of the World Bank and author of ‘The Unequal Effects of Globalization’ Economic policy today seeks to address a dizzying array of challenges — to stem inflation, shore up supply chains, and create jobs while also spurring innovation, fighting climate change, bolstering