Today In The Markets

Credit Suisse staff are making preparations to sue the Swiss financial regulator over $400mn of bonuses that were cancelled following the bank’s rescue by UBS. Thousands of senior Credit Suisse bankers have a portion of their bonuses linked to the group’s additional tier 1 bonds, securities that were wiped out in the takeover orchestrated by

What’s good for America is good for the world. That’s the message the US was trying to sell at the G7 meeting in Hiroshima. The Biden administration has recently been accused by both allies and adversaries of putting America first, if not alone, in some of its economic policies. But in Japan, the US team

There is an ongoing paradox at the heart of what has become known as Britain’s cost of living crisis. With inflation still running at more than 10 per cent, Citizens Advice, which provides free guidance on debt issues and other consumer worries, said recently it had helped a record number of more than 600,000 people

Ukraine’s months-long preparation for its next counteroffensive to try to wrest back occupied territory has allowed Russia to fortify its positions along the almost 1,000km frontline. Satellite images reviewed by the Financial Times and analysed by military experts revealed a multi-layered Russian network of anti-tank ditches, mazes of trenches, concrete “dragon’s teeth” barricades, steel “hedgehog”

Profits at Goldman Sachs, Morgan Stanley and a clutch of other western banks in China fell sharply last year, as Covid-19 lockdowns and geopolitical tensions thwarted hopes that their operations in the country might finally start to be lucrative. Credit Suisse, Deutsche Bank, Goldman Sachs and HSBC reported losses in their China-based units in 2022

Labour leader Sir Keir Starmer will outline plans on Monday to get the NHS “back on its feet” if his party wins the next general election, by pledging to cut waiting times and reduce deaths from cancer, heart disease and suicide. In a speech, Starmer will argue that the future of the NHS will be

US president Joe Biden called on Republicans to moderate their “extreme positions” as he spoke with House Speaker Kevin McCarthy on Sunday in a bid to ease tensions in the escalating US debt ceiling crisis. Biden called the Republican leader on the flight home from the G7 leaders summit in Hiroshima, Japan, after negotiations had

US companies are rushing to borrow money in the bond market, bringing forward deals in case the country’s debt ceiling stand-off causes turmoil over the summer. Highly rated companies have issued bonds worth $112bn so far this month, according to data from Dealogic, up from $46bn in May 2022 and more than triple the amount

“Magic circle” law firm Allen & Overy is merging with New York’s Shearman & Sterling to form a practice with combined revenues of about $3.4bn, in one of the biggest transatlantic legal tie-ups in history. The merger, which is subject to a vote of both firms’ partners, will create one of the largest law firms

With the skeleton of Hiroshima’s A-Bomb Dome as a backdrop, Japanese prime minister Fumio Kishida ended the G7 summit with a call for global peace and a world without nuclear weapons, after being upstaged by Volodymyr Zelenskyy’s appearance. Only a few weeks earlier, Kishida had thought “the hurdle was too high” for the Ukrainian president

Joe Biden has said he expects to see a “thaw” in US relations with Beijing, even as he concluded a G7 summit in Japan that made a concerted effort to counter military and economic security threats from China. The US president said in a news conference at the end of the three-day summit that talks

China said that US chipmaker Micron Technology’s products posed “serious network security risks” as it banned operators of key infrastructure from buying them, in its first big measure against an American semiconductor group. The Cyberspace Administration of China on Sunday announced that the company, which is the biggest US maker of memory chips, “posed significant

“If you’ve read my novels, you already know absolutely everything about me,” wrote Martin Amis in Inside Story, his 15th and final novel, published in 2020. But in saying that, the British writer, who died at his Florida home on Friday, at the age of 73 of cancer of the oesophagus, was only continuing the

Everyone wants a slice of the electric vehicle market. Carmaking is not only a big employer, it has also long symbolised a nation’s manufacturing prowess, from British Minis to Italian Ferraris. As the sector goes electric to meet climate change targets, the US, EU and China have been thrust into a race to build up

The writer is chair of Rockefeller International Something is rotten in the Chinese economy, but don’t expect Wall Street analysts to tell you about it. There has never been a bigger disconnect, in my experience, between some of the rosier investment bank views on China and the dim reality on the ground. Perhaps reluctant to