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US Treasury bonds

US Treasury’s $1tn borrowing drive set to put banks under strain

Analysts fear scale of new issuance following debt ceiling fight will push up yields and suck cash out of deposits

What the debt ceiling debate missed

US banks prepare for losses in rush for commercial property exit

Labour Party UK

The Big Read. Keir Starmer’s ruthless remaking of the Labour party

Editor's picks

The paranoid style in American politics

As the world swirls, Saudi Arabia repositions itself as a global linchpin

Top stories

Russian-speaking gang claims responsibility for UK company cyber attack

Live

Markets Briefing. European markets slip as German economic data disappoints

3 hours ago

OECD chief economist calls for governments to cut fiscal support

Clare Lombardelli says measures must now target ‘those who really need it’

US-China relations

Blinken to visit China this month in sign of easing tensions

US secretary of state had scrapped planned trip over suspected spy balloon incident

Energy crisis drives record profits at commodity trader Trafigura

Earnings cushion blow from impairment charges over alleged nickel fraud

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Spotlight

Nvidia’s rally forces money managers to play catch-up

Funds lightened exposure to chipmaker before bullish AI sales forecast made it a $1tn company

Middle Eastern politics & society

Bellwether student votes show Hamas’s growing support in West Bank

Campus defeats highlight public anger with Fatah, the party that dominates Palestinian Authority

News

Thousands race to flee Ukraine towns as flooding spreads

Officials estimate 42,000 affected by catastrophe and warn civilians to be wary of landmines swept downstream

Military briefing: Russia has most to gain from Ukrainian dam breach

Turkish lira tumbles as Erdoğan backs more orthodox economic team

Currency falls by most since late 2021 after new finance minister promised more ‘rational’ policy

2 hours ago

Markets Insight. Turkey needs a significant adjustment in the lira

South Korean business & finance

New York sues Hyundai and Kia over ‘explosion’ of car thefts

Viral TikTok videos on how to steal the vehicles led to a surge in crime, says the city’s law department

Most read

‘We fight if we have to’: Teamsters boss vows tough line in US labour talks

Sean O’Brien says he is taking a ‘militant approach’ as the possibility of a strike at delivery group UPS looms

China exports recede in May as economy struggles to mount strong recovery

Imports decline less than expected in optimistic signal as manufacturing growth continues to lag behind

Eurozone economy

Revised figures set to show eurozone economy is shrinking

Eurostat data out Thursday could show region contracted in the fourth quarter of 2022 and first three months of this year

Australian tax office explores possible offences abroad in PwC scandal

New Senate hearing on legislation leaks is told of potential international impact

3 hours ago

Diageo chief Ivan Menezes dies

Drinks company’s boss of 10 years had been receiving hospital treatment

Aerospace & Defence

India and Germany in talks on €5bn submarine deal

Thyssenkrupp and Mazagon Dock expected to sign memorandum of understanding

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Morgan Stanley’s M&A chair Rob Kindler joins law firm Paul Weiss

Veteran dealmaker had advised on major deals during his 17-year tenure at Wall Street investment bank

Alberta Investment Management Corp

Canadian fund to boost London office in show of faith in UK capital

AIMCo looks to invest ‘billions’ in country as CEO says city a better global gateway than New York

Opinion

The myth of the ‘Asian century’

What is really happening is the rebalancing of the world as European and American hegemony dwindles away

Don’t let America’s ‘war on woke’ kill off climate collaboration

The disintegration of the insurance sector alliance under Gfanz emphasises such coalitions will need to adapt

The Hitler beetle, the Taylor Swift millipede and the politics of scientific names

Inside Business. Japan’s supply chain predicament

Unhedged. The SEC is wrong about crypto exchanges

Robert Armstrong

Instant Insight. Dam breach gives Russia a new weapon in Ukraine war

Don’t blame the west if the global south goes its own way

The FT View. Turkey’s economic fate is still in the president’s hands

The editorial board

More Opinion

US News

SEC lawsuits escalate Gensler’s assault on crypto markets

US regulator fires broadside against digital assets market with Binance and Coinbase legal actions

Tech sector’s hopes dim for quick US-UK digital trade deal

Hands on with Apple’s Vision Pro: bringing the metaverse to life

Merck accuses US of ‘extortion’ in lawsuit against drug price controls

US venture capital giant Sequoia to split off China business

Saudi Arabia to spend billions on shock merger of PGA Tour and LIV Golf

Chris Christie takes on Trump with second presidential run

Podcasts

Behind the Money. Libor's long goodbye

17 min listen

Working It. Bored at work? How AI could come to the rescue

16 min listen

FT Weekend podcast. Food and Drink mini-series: demystifying wine with André Mack

24 min listen

FT News Briefing. Sequoia Capital to spin off its China business

8 min listen

HTSI. The summer suit just got a lot more seductive

Interview. Artist Larry Achiampong: ‘Video games are just like a piece of literature’

Ally Pally at 150: celebrating London’s ‘people’s palace’

Eating and drinking in Madrid

FT Globetrotter. Six Madrid bars showcasing stellar local wines

HTSI. Men, where to find the perfect T-shirt

Video

Hillary Clinton52 min

Hillary Clinton on China, Putin and the threat to US democracy

400 hours ago

Italian politics19 min

Italian companies suffer Russia market loss | FT Film

1039 hours ago

US manufacturing29 min

Why 3D printing is vital to success of US manufacturing | FT Film

1183 hours ago

World36 min

North Korea and the triads: gangsters, ghost ships and spies | FT Film

1639 hours ago

Highlights

The Henry Mance Interview. Anti-monarchist Graham Smith: The British royals are ‘tax-funded Kardashians’

Head of the campaign group Republic on why the monarchy should be abolished and the government’s protest laws revoked

Can a virtual PA turbocharge your career?

The Big Read. Orlen: is Poland’s energy giant a tool of the government?

Letter from the editor on generative AI and the FT

Review. FT business books: what to read this month

Dear Jonathan. How do I leave academia and move into management consultancy?

‘Stream’ and ‘Torch’: the Gazprom-backed militias fighting in Ukraine

Technology

Lex. The Lex Newsletter: Apple, VR and the $37bn elephant in the room

Losses at Meta’s Reality Labs demonstrate how excitement about new products often fails to translate into sales

Tech sector’s hopes dim for quick US-UK digital trade deal

EU considers mandatory ban on using Huawei to build 5G

Working It. Bored at work? How AI could come to the rescue

UK to strip Chinese surveillance cameras from sensitive government sites

Live news updates from June 6: SEC sues Coinbase, PGA Tour and Saudi-backed LIV Golf agree to merge

SEC sues Coinbase in widening crackdown on crypto exchanges

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