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Confounded by China’s rise

British opportunism met with US fumbling

From the blogs

Macroeconomic shifts are slow-moving but can be hugely destabilising and costly
– The Exchange: Dambisa Moyo
The Saudi-led military intervention in Yemen is almost sure to be too little, too late
– The Exchange: Richard Haass
The Fed is not being asked just to be a party pooper; it needs to deprive people of their illusions
– Andrew Smithers

Wall Street’s finest head for the Valley

Ruth Porat’s move to Google from Morgan Stanley shows where the US economy’s power is going

Karmic payback for a crisis-hit UK city

Birmingham had a spring in its step before HSBC decided to move there, writes Jonathan Guthrie

Middle East faces decades of conflict

Situation in Yemen the latest in a region enmeshed in violent struggles, writes Richard Haass

The last bell tolls for the lethal injection

Now pharmaceutical companies shun association with state-sanctioned killing, writes Anjana Ahuja

FT Editorial

Imprudence of advertising a dark past

A Moscow store has wisely pulled an ad depicting kids as KGB interrogators, says Courtney Weaver

Facebook parks tanks on YouTube’s lawn

Social network becomes increasingly popular with video publishers

Markets remain aloof to UK election risk

Investors are more concerned about global factors for now

Silicon Valley is seizing the customers

Instead of building for others, companies are doing more for themselves

Voters face a choice of cuts or more cuts

The next UK government will need to replace the rollercoaster with a smoother path

Missteps that could cost Greece the euro

Officials with little governing experience risk eroding their credibility, writes Mohamed El-Erian

The American century will survive the rise of China

Entropy is a greater challenge than Chinese growth, writes Joseph Nye

Israel’s outbreak of political sincerity

Netanyahu’s pre-election comments against a two-state solution have gone down badly

Danger of power-wielding investors on show

Proposals at Vivendi, CNCC and Holcim have logic but may not seem fair to all shareholders

Xi’s challenge is to loosen his control

China’s president will face resistance if he fails to readjust

Europe crisis spurs corruption crackdown

Voters struck by lack of jobs, debt and squeezed living standards are rejecting alleged political cheats

QE will lower living standards long term

Prospect of improvement in growth is largely a monetary illusion

A rebuff of China’s AIIB would be folly

It would be good if the lender were white as snow. But this is a fallen world

Israel fears effect of Bibi’s recklessness

With no timetable, the prime minister will gamble he can outwait Obama’s last two years as president

Putin’s diplomatic acrobatics

The Russian president’s goal is not to deceive his counterparts. So why lie, asks Samuel Charap



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