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Interest rate rises set back European bank M&A by two years

Accounting rules mean mergers would lead to assets being revalued at significantly lower levels

1 hour ago

Lex. UBS/Credit Suisse: ‘badwill’ bonanza is prelude to a tough integration

HSBC warns rate rises may scupper sale of French retail unit to Cerberus

Financial services

The Big Read. Centerview: the Wall St power brokers confronting a rare rupture

Editor's picks

Military briefing: Ukraine’s daring ‘shaping operations’ stretch Russian defences

1 hour ago

Don’t bet against the ‘suitcase principle’ of white-collar work

Top stories

Live news: Asian equities decline ahead of US debt ceiling vote

Live

Cryptocurrencies

Crypto market struggles with transparency

Many of industry’s biggest names refuse to supply information on corporate governance and custody of customer assets

1 hour ago

Philip Morris International Inc

Philip Morris chief says group on path to becoming an ESG stock

Jacek Olczak argues shift away from cigarettes should prompt a rethink after wave of exclusionary policies

1 hour ago

German start-up wins initial funding for revolutionary fusion energy machine

Proxima Fusion aims to build complex device to generate emissions-free power by fusing atoms

2 hours ago

Spotlight

US presidential election 2024

Business leaders search for alternatives to Trump and DeSantis

Republican donors urge Glenn Youngkin and Brian Kemp to enter 2024 race after Florida governor’s faltering start

1 hour ago

Spanish politics

‘All or nothing’: Spain’s Pedro Sánchez gambles on snap election

Embattled prime minister makes riskiest bet of his career to hold on to power after disastrous showing in local polls

News

Turkish economy

Turkey’s lira weakens as economists warn of economic challenge

Re-elected Erdoğan insists interest rates should stay low despite inflation running at more than 40 per cent

‘I can do it’: Erdoğan promises Turkey more strongman medicine

US politics & policy

Debt ceiling fight shifts to Congress as lawmakers prepare for first votes

Busy week of wrangling expected as White House and House Republican leaders seek to shore up support for deal

1 hour ago

US-China relations

China turns down US invitation for defence chiefs’ meeting in Singapore

Pentagon had requested the encounter between Lloyd Austin and Li Shangfu, who is under sanctions, at forum in June

Most read

Kosovo erupts in violence as ethnic Serbs bar Albanian mayors from taking office

Dozens of protesters and 25 Nato peacekeepers injured in clashes following disputed elections

The billionaire whose electrode empire powers China’s EV dominance

Bai Houshan and his company Ronbay have ambitious expansion plans for key battery component

High yield bonds

Wall Street banks re-enter junk debt market

Lenders return to funding leveraged buyouts after painful year in which fees were hit hard

2 hours ago

Climate Capital. Political war over climate change shakes up insurance industry

Anti-ESG campaigners expected to step up efforts as US presidential campaign accelerates

1 hour ago

Ford faces uphill journey in convincing investors of new vision

Years of underperformance have left many sceptical about US carmaker’s ability to deliver on transformation

1 hour ago

Artificial intelligence

Nvidia chief Huang says AI is creating a ‘new computing era’

Chip group’s boss unveils new platform to help tech groups build generative artificial intelligence models

How Nvidia created the chip powering the generative AI boom

Accommodation in Paris

FT Globetrotter. FT Globetrotter: Five of the smartest new hotels in Paris

An insider guide to some of the most stylish places to stay in the City of Light

1 hour ago

Montenegro’s young guard aims to speed up EU accession

New leadership seeks to pass reforms and capitalise on fresh focus on Balkan region amid Ukraine war

Opinion

The UK needs a new deal for its highly taxed graduates

Repayments under the student loan system hinder their potential contributions to the economy

De-risking trade with China is a risky business

Security-driven approach to trade clashes with western corporate interests and environmental targets

We need to build a new business case for nature

Siddarth Shrikanth

The UK’s competition watchdog risks undermining business dynamism

Outlook. America’s horse deaths bode ill for the sport of kings

The FT View. An anxious future for Turkey’s economy and democracy

The editorial board

Taking an electric car on the road is still a gamble in America

Citizens’ juries can help fix democracy

More Opinion

US News

White House reaches deal with Republicans to avert US debt default

Biden and McCarthy agree on terms to raise borrowing limit but must still convince sceptical members of their parties

Beverly Hills voters reject LVMH luxury hotel on Rodeo Drive

Cyberweapon manufacturers plot to stay on the right side of US

US and China hold more trade talks despite strained ties

Jamie Dimon gathers business elite in Shanghai amid China-US tensions

US debt ceiling deadline pushed back as talks continue

Investors expect higher interest rates as inflation pressures mount

Podcasts

Money Clinic with Claer Barrett. Investment masterclass: Should women plan differently for their retirement?

23 min listen

FT News Briefing. Ageing populations hit government credit ratings

10 min listen

FT News Briefing. Martin Wolf on saving democratic capitalism

47 min listen

Political Fix. Rishi Sunak’s immigration conundrum

32 min listen

The treasures of Mallorca’s Tramuntana mountains

Review. Succession finale — one last twist of the knife

Deserved Palme d’Or for Anatomy of a Fall at Cannes Film Festival

HTSI. The best summer road cycling gear

Interview. Artist Sarah Sze: ‘My goal is to create something you’ve never seen before’

Video

Hillary Clinton52 min

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

201 hours ago

Italian politics19 min

Italian companies suffer Russia market loss | FT Film

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US manufacturing29 min

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

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World36 min

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

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Highlights

Letter from the editor on generative AI and the FT

Our journalism will continue to be reported, written and edited by humans who are the best in their fields

Is the UK once again the ‘sick man’ of Europe?

Flight risk? London listings are the most vulnerable to New York’s allure

The Big Read. The crackdown on risky chemicals that could derail the chip industry

FT Alphaville. Meet the pizza-loving diplomat behind Antigua News’s big Credit Suisse scoop

Interview. Reeves embraces ‘Bidenomics’ as blueprint for a Labour government

Doom-mongers are wrong to underestimate the European economy

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Investing in Space

Building a business case for space

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Inclusion, from rhetoric to reality

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