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Banks in turmoil

PacWest secures $1.4bn of cash from Atlas after deposits fall 20%

Lender is among handful of West Coast lenders under pressure after collapse of Silicon Valley Bank

2 hours ago

SVB Financial clashes with FDIC over fate of $2bn in bankruptcy hearing

First Republic hires Lazard to explore options after share price tumbles

Explainer. What the takeover of Credit Suisse means for UBS

Editor's picks

It’s unwise to get Trump on a technicality

Banker accountability is easier to demand than deliver

Top stories

Evergrande announces long-awaited debt restructuring proposal

Live

Markets Briefing. Wall Street stocks turn lower ahead of US interest rate decision

updated

Central banks

Fed set for pivotal decision on interest rates amid bank turmoil

US central bank weighs continuing its tightening campaign against a pause to shore up financial system

2 hours ago

ECB president warns of danger of ‘tit-for-tat’ inflation

Credit Suisse fallout threatens to halt issuance of risky bank debt

Some of Asia’s largest lenders may pause sales of additional tier 1 bonds after $17bn wipeout at Swiss bank

UBS to enter talks with Michael Klein to terminate First Boston deal

Trump media Spac dismisses CEO and confronts delisting threat

Digital World Acquisition terminates Patrick Orlando amid ‘unprecedented headwinds’

new

Trump rallies Republicans to his defence with arrest warning

Spotlight

The Big Read. Saving Ukraine’s economy: the grain giant fighting for survival

Nibulon helped turn the country into the ‘breadbasket of the world’. The Russian invasion has brought it to its knees

TikTok caught in US-China battle over its powerful algorithm

Chinese parent company ByteDance stuck between legal manoeuvres aimed at controlling video app’s future

News

Carvana to attempt restructuring of $9bn debt load

Company tries to drum up support from bondholders carrying $6bn of paper for move that would reduce interest bill

3 hours ago

French politics

Macron seeks to calm public anger over French pensions reform

President says unpopular changes are a ‘necessity’ and are likely to take effect by the end of the year

2 hours ago

Manchester United PLC

British billionaire Ratcliffe to offer more than £5bn for Manchester United

Entrepreneur is competing against Qatari sheikh Jassim bin Hamad al-Thani for Premier League football club

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Most read

Indian data reveals Adani empire’s reliance on offshore funding

Almost half conglomerate’s $5.7bn in FDI over 5 years came from opaque overseas entities

Ukraine hit by drone attacks as Russia accuses Kyiv of targeting Crimea

Strikes on infrastructure come hours after Vladimir Putin’s endorsement of Chinese peace plan

Sunak wins vote on post-Brexit Northern Ireland deal

Windsor framework passed by 515 votes to 29 despite revolt by three ex-Tory leaders

1 hour ago

Profits at commodity traders hit record in 2022, say finance chiefs

Companies set high-water mark unlikely to be repeated in 2023

Environmental Protection Agency USA

US regulator vows ‘aggressive’ crackdown on oil and gas methane leaks

EPA head Michael Regan prepares tough new rules on emissions of potent greenhouse hydrocarbon

Recreational drugs

Zurich to legalise consumption and sale of cannabis in trial scheme

Experiment in Switzerland’s biggest city will assess benefits of regulating supply of the recreational drug

2 hours ago

Turkish politics

Pro-Kurdish party signals support for Turkey’s main opposition candidate

HDP decision not to field contender boosts efforts of alliance seeking to unseat Recep Tayyip Erdoğan

UK regulator warns on Broadcom’s $69bn VMware deal

Competition and Markets Authority says it may launch in-depth probe if concerns are not addressed

3 hours ago

Opinion

National security is teaching the US to love tech controls

America once shied away from ‘the r-word’ but tech now faces a regulation revolution

Marietje Schaake

Inside Business. EY, KPMG and the fallout of two accounting scandals

What happens to companies that cannot secure an auditor to check their accounts?

Unhedged. What the Fed should do

Robert Armstrong

Lex. ChatGPT: chatbots should bring synth pop to tech earnings

3 hours ago

Outlook. In drought-stricken Kenya, dead livestock tell of livelihoods lost

Lex. TikTok: time running out for Chinese apps seeking US online growth

A hefty shock awaits those who see little difference between Starmer and Sunak

Robert Shrimsley

Years of climate scepticism have done untold damage

More Opinion

US News

First Republic rallies as Yellen says US prepared to give more support

Treasury secretary defends ‘decisive and forceful actions’ by regulators to avert broader crisis

JPMorgan Asset Management chief warns on commercial real estate risks

‘Firefighter and policeman’: Fed faces rate rise dilemma

Google launches Bard chatbot to rival OpenAI’s ChatGPT

US bank shares rise on government readiness to back smaller lenders

Short seller warned US regulator about Signature Bank in January

Silicon Valley Bank losses embolden calls for US accounting rule reform

Podcasts

Behind the Money. Martin Wolf on why banks fail and what to do about it

20 min listen

Working It. The unintended consequences of mass lay-offs

18 min listen

FT News Briefing. Banking crisis complicates interest rate decisions

11 min listen

Tech Tonic. The quantum revolution: ‘Spooky action’

25 min listen

The Aesthete. Becky Fatemi: ‘If I don’t love it, I can’t sell it’

Pack away the Peloton — Daylesford owner launches luxury health club

The hottest place on Earth gets a new ice-cream parlour

Review. Succession Season 4 puts the Roys on the brink of battle royal

FT Magazine. Honey and Co’s Jewish-Italian feast: caponata, focaccia and Sarde in Saor

Video

Cryptocurrencies30 min

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

396 hours ago

Scoreboard10 min

The business of Formula 1: inside McLaren HQ

540 hours ago

Brexit28 min

The Brexit effect: how leaving the EU hit the UK

3726 hours ago

FT Standpoint14 min

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

1164 hours ago

Highlights

‘Perhaps she will not spoil the atmosphere after all’: women mark 50 years trading at the LSE

Some of the first female traders recount how they started on the floor of the exchange

From SVB to the BBC: why did no one see the crisis coming?

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

Affairs and takeovers but absolutely no secret agendas

Rutherford Hall

The Big Read. Singapore and Hong Kong vie to be the Caymans of Asia

The envy at work that dare not speak its name

The Big Read. Microbes on the farm: a solution for climate change?

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