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President-elect Donald Trump namedhedge fund mogul Scott Bessentas the next Treasury secretary on Friday, ending a rough-and-tumble race that saw fierce jockeying among power players across Wall Street. I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States, Trump wrote in his announcement, posted

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Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world The indictment of Benjamin Netanyahu and Yoav Gallant on war crimes charges is a disaster for Israel. It is also a huge problem for the western alliance. Israel is getting full-throated bipartisan support

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US dollar weakened and Treasuries rallied on Monday as the nomination of Scott Bessent as Treasury secretary eased investor fears over president-elect Donald Trump’s trade tariff plans. The dollar index, which tracks a basket

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. India’s central bank governor has defended the country’s economic resilience, saying it was “well placed” to deal with spillovers from emerging global shocks as the spectre of protectionism and trade wars looms during Donald Trump’s

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Barclays has abandoned a legal challenge against the UK financial watchdog’s punishment over its alleged failure to disclose payments to Qatari entities that helped the bank avoid a bailout during the 2008 financial crisis. The

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A pro-Russia, far-right politician has won the first round of Romania’s presidential elections, according to the electoral commission, dealing a major blow to the country’s political establishment. Călin Georgescu, formerly linked to the radical nationalist

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Italy’s UniCredit has launched a €10.1bn takeover bid for its rival Banco BPM, in a deal that would step up consolidation of Europe’s fragmented banking sector. UniCredit said on Monday that its all-stock offer valued

Imagine it is 2030. Russia and China are holding their first major military exercises in the Arctic. Called Vostok 2030, the joint drill involves thousands of troops, tanks, aircraft, and most of the Russian and Chinese northern fleets. It is just the latest manifestation of Moscow and Beijing’s “historic partnership”. Over the past five years,

Stay informed with free updates Simply sign up to the Workplace pensions myFT Digest — delivered directly to your inbox. No area of policymaking suffers more from “muddling through” than pensions. Pension arrangements shape national prosperity and individual security over multiple generations. “Long-termism” is the only sane approach. Yet what the UK has done is,

Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Donald Trump’s victory represents many world-changing things. One is the marriage of techno-determinism and libertarianism. In the world of this new administration, the line between Milton Friedman and tech billionaires such as Elon

Stay informed with free updates Simply sign up to the UK property myFT Digest — delivered directly to your inbox. Renewed inflation fears are hammering the UK property sector, as anxieties over borrowing costs, the UK Budget and the election of Donald Trump have sent shares spiralling downwards. The six biggest listed housebuilders by market

Stay informed with free updates Simply sign up to the Monetary policy myFT Digest — delivered directly to your inbox. US monetary policy is on course to sharply diverge from Europe’s next year, with higher growth and inflation projections opening a transatlantic divide with the sluggish Eurozone.  The Federal Reserve is set to cut its

Poland’s presidential elections will pit Warsaw’s liberal mayor as the candidate of Donald Tusk’s ruling party against a historian chosen on Sunday by the right-wing opposition Law and Justice (PiS) party. The outcome of next May’s vote could unlock Prime Minister Tusk’s reform agenda, which has been stalled by outgoing rightwing President Andrzej Duda since

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK businesses are cutting their plans for growth following tax rises announced in the Budget, according to the CBI, with almost half of those surveyed by the lobby group saying they would reduce headcount and

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. China’s national technology champion Huawei is poised to launch its first flagship phone that can run its own apps on a fully homegrown operating system, in the latest sign of how technology is splintering into

Stay informed with free updates Simply sign up to the US economy myFT Digest — delivered directly to your inbox. US retailers are extending their one-day seasonal Black Friday discount offers into a sales event lasting weeks in a bid to tempt US consumers to keep spending, as data suggests that their spree which has

Stay informed with free updates Simply sign up to the Media myFT Digest — delivered directly to your inbox. Wicked and Gladiator II jolted a sagging global box office back to life, with the two films taking in $385mn worldwide at the weekend, giving cinemas hope for a strong holiday season. The hot streak is

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is chief economist at BCP Securities Social scientists like the idea of critical junctures. This is a theory of how seminal events, usually large external shocks, can alter the long-term trajectory of an

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Sir Keir Starmer’s cabinet is split over the assisted dying bill, which will face its first vote in parliament on Friday, after a string of high-profile figures including former UK prime minister Gordon Brown made