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Lex

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Lex is a premium financial commentary service from the Financial Times. It is arguably the world's most influential column of its kind, published daily since 1945. An award-winning team across four time zones helps readers make better investment decisions by highlighting key risks and opportunities.

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  • Wednesday, 6 July, 2022
    Digital currencies
    Crypto bankruptcy: Voyager restructuring hinges on uncertain revival Premium content

    Account holders must decide whether brokerage is worth fighting for

  • Wednesday, 6 July, 2022
    DraftKings
    DraftKings/online gambling: betting boom is no winning ticket Premium content

    Shares in US sports gambling sites have slumped

  • Wednesday, 6 July, 2022
    Just Eat Takeaway
    Just Eat Takeaway: Amazon deal is less appetising than it appears Premium content

    The ecommerce giant is probably wary of risking more capital as it has yet to succeed on food delivery so far

  • Wednesday, 6 July, 2022
    Japanese business & finance
    Japanese food: rising prices threaten to eat into margins  Premium content

    The yen’s sharp depreciation has pushed up the cost of imports and logistics

  • Wednesday, 6 July, 2022
    Airlines
    The Lex Newsletter: Europe’s aviation forecast looks gloomy Premium content

    Demand may be up but airlines must also contend with higher wage bills, fuel costs and debt servicing charges

  • Wednesday, 6 July, 2022
    Travel & leisure industry
    Pool stocks: post-pandemic lull for companies trading water Premium content

    Even if the flurry of swimming pool purchases is over, revenues should remain elevated

  • Tuesday, 5 July, 2022
    Leveraged loans
    Ebitda: creative accounting did not end when debt was initially sold Premium content

    Many loan term sheets lack definitions for ebitda allowing corporates to avoid breaching covenants

  • Tuesday, 5 July, 2022
    AMC Entertainment
    AMC/cinema: debts cloud the big picture Premium content

    It will take a bold plot twist to give this a happy ending

  • Tuesday, 5 July, 2022
    EY
    EY/partners: A growing band of titled partners dilutes the cachet Premium content

    The Big Four audit firm and its peers are quick to allay concerns that anointing non-equity holders partners may mislead

  • Tuesday, 5 July, 2022
    GMK Noril'skiy nikel' OAO
    Norilsk/Rusal: odd pairing hints at peak for industrial metal prices Premium content

    Potanin and Deripaska would make an odd couple; any deal talk requires healthy scepticism

  • Tuesday, 5 July, 2022
    BYD Co Ltd
    BYD/Tesla: China’s carmakers gain ground as profitability is stretched Premium content

    Low pricing strategy is not sustainable as raw material prices soar and with electric vehicle subsidies set to be phased out

  • Monday, 4 July, 2022
    Cheung Kong Infrastructure Holdings Ltd
    UK Power Networks: inflation prompts bout of vendor remorse from Hong Kong investor Premium content

    Case for infrastructure holds — as an inflation hedge providing stable returns in an uncertain world

  • Monday, 4 July, 2022
    Uniper SE
    Uniper: the pain from Germany’s gas crisis will be widely shared Premium content

    Disruption caused by the loss of Russian gas supplies is weighing heavily on the Düsseldorf-based group

  • Monday, 4 July, 2022
    Alibaba
    Alibaba: Ant listing approval would help China stocks return to normality

    When the time comes for a listing, a pricing discount would be needed to attract investors to Ant

  • Monday, 4 July, 2022
    Geely Automobile Holdings Co Ltd
    Geely: premium smartphones could offer answer to falling profits Premium content

    A majority stake in local smartphone maker Meizu is just what the Chinese group needs

  • Monday, 4 July, 2022
    Legal services
    City lawyers’ pay: the squeezed middle Premium content

    UK partnerships have refused to adopt US-level pay for older lawyers

  • Sunday, 3 July, 2022
    UK universities
    Humanities degrees: ave atque vale Premium content

    More often than not, arts graduates get less bang for their buck than their more scientifically minded peers

  • Saturday, 2 July, 2022
    Tobacco
    Smoking: Europeans need more than a ban on flavoured products to go tobacco-free Premium content

    While smoking is less popular on both sides of the Atlantic, Europe’s habit is proving harder to crack

  • Friday, 1 July, 2022
    Financial & markets regulation
    Insurance/Solvency II: cautious sector has no appetite for rapid change Premium content

    Industry regulator, with its mandate to ensure stability, has been pitted against the government

  • Friday, 1 July, 2022
    Shell plc
    Russia/Sakhalin-2: nationalisation sends message to Shell and its peers Premium content

    Russia does not want Shell to remain a phantom shareholder, providing no capital or operational expertise

  • Friday, 1 July, 2022
    Health Care
    Walgreens: without a sale of Boots, US group needs a health check Premium content

    Owning physical drugstores is not the cash cow it once was

  • Friday, 1 July, 2022
    Elaine Moore
    The Lex Newsletter: stress tests, sanctions and strikes Premium content

    Russia | China coal | Japanese power | Royal Mail | Big Tech | US banking sector

  • Thursday, 30 June, 2022
    Retail & Consumer industry
    US retailers: patience not only a virtue but a privilege Premium content

    Pace of reversal in customer tastes in a weakening economy has been head-spinning

  • Thursday, 30 June, 2022
    Utilities
    Thames Water/utilities: investors tapped for cash after deluge of complaints Premium content

    Mounting public anger over pollution will force slowpokes to clean up their act

  • Thursday, 30 June, 2022
    Reckitt Benckiser Group PLC
    Reckitt Benckiser: infant formula sale is in jeopardy but sales are rising Premium content

    Company’s guidance for 2022 organic sales growth at the upper end of 1-4 per cent may climb

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