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US Treasuries rallied and the dollar weakened on Tuesday after demand for workers in the world’s biggest economy fell more than expected. The yield on two-year US Treasuries dipped 0.12 percentage points to 3.85 per cent as prices rose, while the yield on benchmark 10-year Treasuries fell 0.07 percentage points to 3.36 per cent. The

Saudi Arabia’s sovereign wealth fund has disclosed investments in dozens of private equity and venture capital firms via its Sanabil Investments arm, including Blackstone and General Atlantic. The firms were listed on Sanabil’s website, which said it invests about $2bn in capital a year in “venture, growth capital and small buyouts.” Others include KKR, Hellman

Imagine that you lead one of the many countries caught between the US and China. Yours, Ambivaland, is in south-east Asia. It needs Chinese trade but finds Beijing high-handed. It looks to America for security and technology but mistrusts the west. Even its own political model is hard to place on the spectrum from liberal

Sterling has risen to its highest level against the US dollar in 10 months, helped by recent signs of resilience in the UK economy that have bolstered investor expectations of further rises in interest rates. The pound climbed as much as 0.8 per cent on Tuesday to $1.252, helped by a broad retreat for the

Jamie Dimon has criticised regulators in the wake of the banking turmoil for incentivising banks to load up on government securities and imposing flawed stress tests. Dimon said the failure last month of Silicon Valley Bank and the Swiss government-engineered takeover of Credit Suisse risked undermining confidence in the banking industry and had prompted investors

The writer is author of ‘Erdoğan’s War: A Strongman’s Struggle at Home and in Syria’ Turkey’s presidential and parliamentary elections on May 14 will pose a key question of our time: is it possible to slow authoritarian backsliding and renew democratic progress? At a time of autocratic surge, it has become fashionable to make bleak

Europe’s workers are famously well-protected by rights and regulations, but the continent’s dirty secret is that they don’t extend to everyone. Countries such as France, Spain, Italy and Portugal have long had insulated insiders who are hard to fire and insecure outsiders who churn from one temporary contract to the next. Inevitably, the young have

The UK is no longer investigating two of the three initial allegations against Mikhail Fridman four months after arresting the sanctioned Russian oligarch at his London mansion. The National Crime Agency, which tasked over 50 officers to raid Fridman’s multimillion home in north London in December, has stopped probing the 58-year-old businessman on suspicion of

It starts with drugs, says John. Paramilitaries in his working-class area near Belfast control the trade. Young teenagers go to them for weed and cocaine, but soon they are hooked and have racked up a “strap”, or debt. They struggle to pay because they can’t get a job until they are 16, so they are

Companies agreed a record number of office moves in London last year but took less space than pre-Covid levels as groups continued to reduce their footprint and adapt to hybrid working. Office tenants signed nearly 600 new leases over 5,000 sq ft in 2022, according to data from real estate adviser Cushman & Wakefield, the

JPMorgan Chase executives allegedly joked about Jeffrey Epstein’s interest in young girls while the disgraced financier was a client of the US banking giant, lawyers for the US Virgin Islands have claimed in a new court filing. The accusation is part of an expanding lawsuit brought by the US Virgin Islands, where Epstein had a

Lord Lawson of Blaby, who has died at the age of 91, was one of the most consequential and longest-serving British chancellors of the 20th century, playing a pivotal role in Margaret Thatcher’s free-market revolution. Revered by the Tory right and an inspiration to current prime minister Rishi Sunak, Nigel Lawson pushed through a vigorous

Imprisoned Wall Street Journal reporter Evan Gershkovich has not yet received a consular visit from American officials, but official human rights monitors affiliated with the Russian government say he is reading Life and Fate by Vasily Grossman while in pretrial detention at Moscow’s Lefortovo prison. In the first account of his condition in Moscow’s Lefortovo prison

Nigel Lawson, the long-serving Conservative chancellor whose radical tax-cutting Budgets of the late 1980s inspired a Tory generation, has died at the age of 91. Lord Lawson was an iconic figure for the Tory right and Rishi Sunak, prime minister, led the tributes to a man whose economic policies underpinned the Thatcher revolution. “One of

The water industry regulator has fined just one privatised utility for breaching regulations designed to prevent sewage spills in England since the rules came into force almost 30 years ago, according to official data. Despite hundreds of thousands of sewage spills into rivers and coastal waters in recent years, Ofwat’s only fine for breaching the

Blackstone clients asked to pull $4.5bn from a closely followed real estate fund in March, even as the firm’s executives were promoting investment opportunities in the sector that they said would arise from US economic turbulence. Withdrawal requests at the $70bn fund, called Blackstone Real Estate Income Trust, or Breit, rose 15 per cent in

Ferry operators are exploring rationing the number of coaches that pass through the UK’s busiest port in an effort to avert a repeat of last weekend’s travel chaos, sparking a furious reaction from transport companies. Some coaches were left waiting for up to 14 hours to board ferries from Dover as the Easter holiday getaway

The best definition of populist government, I think, is passing laws you know won’t work, to solve a problem that you don’t really think exists, because it polls well. Both Keir Starmer and Rishi Sunak, in part because they share an essential “ideal son-in-law” energy, are often presented as having, if not vanquished populism, at

The writer is chair of Public Understanding of the Humanities at the School of Advanced Study, University of London, and the author of ‘The Wrath to Come’ “Unprecedented Government scandal,” read the headlines, as revelations of bribery, corruption, pay-offs and cover-up in the White House rocked the US. The administration was accused of “unprecedented corruption”,

The CBI said on Monday that it was expanding an inquiry into misconduct at the industry trade body after allegations of sexual harassment, cocaine use and rape emerged, separate to earlier claims about director-general Tony Danker. Danker stood aside last month pending the outcome of an independent investigation by law firm Fox Williams into allegations