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Sergio Ermotti returns as UBS chief to steer Credit Suisse takeover

Ralph Hamers to step down after agreeing $3.25bn rescue deal

updated

Credit Suisse bankers and clients courted by Swiss rivals

2 hours ago

Credit Suisse sale ‘forever impairs the ability to issue AT1s’, investors warn

2 hours ago

The Big Read. Inside North Korea’s oil smuggling: triads, ghost ships and underground banks

Editor's picks

Monetary policy is not solely to blame for this banking crisis

Banks face a tough choice over crypto

Top stories

Live news: China threatens retaliation for planned Tsai-McCarthy meeting

Live

Markets Briefing. Tech stock retreat leads Wall Street indices lower

JPMorgan Chase & Co

JPMorgan’s Jamie Dimon to be deposed in Epstein lawsuits

Sworn testimony scheduled to take place behind closed doors in May as bank fights litigation

JPMorgan and Deutsche Bank must face Epstein claims, judge rules

Artificial intelligence

Big Tech companies cut AI ethics staffers raising safety concerns

Microsoft, Amazon and Google among those to cut ‘responsible AI’ teams as part of broader reductions

2 hours ago

Netanyahu reforms trigger backlash in US from ardent Israel supporters

Criticism comes from politically diverse group of American Jews who have tended to be supportive

2 hours ago

Israel’s divisions are distracting it from a regional perfect storm

Spotlight

Brazilian politics

Brazil braced for Jair Bolsonaro’s return to energise the far right

Ex-leader faces investigations including embezzlement probe over jewellery but poses political challenge for his successor

2 hours ago

‘Hard to fluster’ adviser lands central role in US bank mess clean-up

Todd Snyder ran auctions of Silicon Valley and Signature after failures shook financial system

2 hours ago

News

Tesla’s price war in China backfires as BYD sales surge

Chinese carmakers expected to sell more passenger vehicles than foreign rivals for first time in 2023

1 hour ago

Spain’s fix for pension shortfall: make younger people pay

Faced with an ageing population and ballooning costs, Madrid has opted to increase contributions rather than cut benefits

2 hours ago

China threatens Taiwan over president’s trip to US

Tsai Ing-wen to meet Speaker Kevin McCarthy in Los Angeles after stops in New York, Guatemala and Belize

1 hour ago

Most read

Pence must testify before grand jury in Trump probe, judge rules

Former US vice-president ordered to appear before panel hearing evidence about alleged interference in 2020 election

Fox’s Rupert Murdoch on Dominion witness list for defamation trial

Inside Business. Why there is no future for ‘forever chemicals’

PFAS compounds have long been known to be harmful. Now restrictions on their use will force industry to adapt

Peggy Hollinger

Ukraine grain glut hits agribusiness in neighbouring countries

Romanian and Polish farmers criticise ‘derisory’ EU compensation and politicians call for higher offer

2 hours ago

Venture capital investment

Markets Insight. Venture capital faces tougher future

Deglobalisation, geopolitical competition and demise of cheap money require industry playbook to change

HTSI. The Zara woman: an exclusive interview with Marta Ortega Pérez

The non-executive chair of Inditex talks succession, sustainability and sales

2 hours ago

Northern Ireland

Northern Ireland stuck in political paralysis despite Brexit deal

Democratic Unionists refuse to restore power sharing as region’s finances worsen

Silicon Valley Bank

Top Republican accuses regulators of being ‘asleep at the wheel’ over SVB

Tim Scott’s comments came during bruising congressional hearing on failings leading to lender’s collapse

Unhedged. SVB, resolved

Oil & Gas industry

Shale oil drillers left exposed after pulling back price hedges

Producer ‘optimistic we’ll see $100 a barrel’ shuns insurance despite market wobbles

BP teams up with Abu Dhabi oil group in bid for Israel’s NewMed

Opinion

Western voters won’t give up the peace dividend

Governments are right to increase defence spending, but their electorates prefer butter to guns

We can’t let companies get away with making consumers sick

Just four sectors contribute to at least a third of global deaths — they should be held accountable

The FT View. A battle for the soul of Israel

The editorial board

Lex. United Utilities: Great Stink II may land water groups with £56bn bill

Outlook. Lebanon fails the test of time

We are all secretaries now

Markets Insight. Inflation targets have left central banks in a bind

Global Insight. The jilted ally behind Macron’s pensions crisis

More Opinion

US News

At least 40 people dead in fire at Mexico migration detention centre

Incident comes as migration through the country to the US is near its highest level in 20 years

Big debt investors dealt blow in mattress maker bankruptcy ruling

US to withhold nuclear data from Russia in escalation of tensions

US charges Bankman-Fried with bribing Chinese officials

How family-controlled First Citizens became a top-20 US bank

US and Japan strike trade deal on critical minerals for electric car batteries

Tesla cars lose value faster than rival models after price cuts, data shows

Podcasts

Behind the Money. Inside UBS’s takeover of Credit Suisse

25 min listen

FT News Briefing. Beijing’s big bailouts

10 min listen

Money Clinic with Claer Barrett. Help! What should I do with my mortgage?

27 min listen

Working It. Neurodiversity at work: ‘I had to kick doors down to be heard’

14 min listen

50 years after Picasso’s death, what has happened to his reputation?

Review. Mussolini’s Grandchildren — the long shadow of fascism in Italy

Ask a Stylist: spring knits and how to style them

Berthe Morisot, Dulwich Picture Gallery — secrets and revelations from a female Impressionist

A Land Rover, a rooftop tent and the remote beauty of Northumberland

Video

Cryptocurrencies30 min

FTX: the legend of Sam Bankman-Fried | FT Film

553 hours ago

Brexit28 min

The Brexit effect: how leaving the EU hit the UK

3882 hours ago

Musk's torturous takeover of Twitter | FT Due Diligence

50 hours ago

FT Standpoint14 min

Capture: who's looking after the children? | FT Film

1321 hours ago

Highlights

The Henry Mance Interview. Matthew Desmond: ‘America does so much more to subsidise affluence than alleviate poverty’

The sociologist believes the US is stacked against the poor and decisions by the rich are to blame

Succession is painful but it doesn’t need to be

Margaret Heffernan

The Big Read. Rebellion in Iran: how far will the regime go?

Why five days in the office don’t add up

The Big Read. The teen mental health crisis: a reckoning for Big Tech

My first job: what I wish I had known

Dear Jonathan. I am stuck on a consultancy project I don’t like. How do I accelerate a move?

Technology

Amazon and Google told to let UK radio stations stream on smart speakers

Requirement part of biggest overhaul of rules for online and traditional broadcasting in 20 years

Live news updates from March 28: Dimon to be deposed in Epstein lawsuits, Alibaba to split into six

Apple launches ‘buy now, pay later’ service in the US

US to withhold nuclear data from Russia in escalation of tensions

Gisaid data move boosts hopes of establishing Covid-19 origins

Alibaba plans to split into six in radical overhaul

HTSI. Turbocharge your two-wheeler with this new tech

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