Accessibility helpSkip to navigationSkip to contentSkip to footer

Cookies on FT Sites

We use cookies for a number of reasons, such as keeping FT Sites reliable and secure, personalising content and ads, providing social media features and to analyse how our Sites are used.

Accept & continue
Manage cookies
  • Sign In
  • Subscribe
Open side navigation menuOpen search bar
Financial Times
myFT
  • Home
  • World
    Sections
    • World Home
    • Global Economy
    • UK
    • US
    • China
    • Africa
    • Asia Pacific
    • Emerging Markets
    • Europe
    • Americas
    • Middle East and North Africa
    Most Read
    • Sunak plans corporate tax rise to bolster public finances
    • Scotland reaps dividend of Covid response that diverged from England’s
    • Why global Covid infections have plummeted
    • BoE governor warns EU over derivatives clearing power grab
    • Narendra Modi renames cricket stadium after himself
  • US
    Sections
    • US Home
    • US Economy
    • US Companies
    • US Politics & Policy
    Most Read
    • Sunak plans corporate tax rise to bolster public finances
    • Why global Covid infections have plummeted
    • GameStop shares extend surge in early trading
    • Joe Biden’s ‘snub’ signals a reset with Saudi Arabia
    • Joe Biden has a lesson in democracy for Angela Merkel
  • Companies
    Sections
    • Companies Home
    • Energy
    • Financials
    • Health
    • Industrials
    • Media
    • Professional Services
    • Retail & Consumer
    • Tech Sector
    • Telecoms
    • Transport
    Most Read
    • McKinsey’s Kevin Sneader voted out in leadership ballot after crises
    • Lucid takes on Tesla as electric vehicle competition hots up
    • J&J vaccine performs well against variants in boost for Covid battle
    • Estée Lauder agrees $1bn deal to buy owner of The Ordinary skincare
    • McKinsey partners sacrifice leader in ‘ritual cleansing’
  • Tech
  • Markets
    Sections
    • Markets Home
    • Alphaville
    • Markets Data
    • Capital Markets
    • Commodities
    • Currencies
    • Equities
    • Fund Management
    • Trading
    • Moral Money
    • ETF Hub
    Most Read
    • Australia sovereign wealth fund chief warns of stock market ‘clean-out’
    • Carbon bulls will not wait on the EU
    • NY attorney lasers Bitcoin’s key funding mechanism
    • ECB signals rising concern about eurozone bond market sell-off
    • Fed needs to ignore ‘taper tantrums’ and let longer rates rise
  • Climate
  • Opinion
    Sections
    • Opinion Home
    • Columnists
    • The FT View
    • The Big Read
    • Lex
    • Obituaries
    • Letters
    Most Read
    • Joe Biden has a lesson in democracy for Angela Merkel
    • A Lucid sign of the tech bubble
    • Let the market determine bitcoin’s value
    • Budget 2021: the knowns and unknowns
    • Do Republicans even want government to exist?
  • Work & Careers
    Sections
    • Work & Careers Home
    • Business School Rankings
    • Business Education
    • Entrepreneurship
    • Recruitment
    • Business Books
    • Business Travel
    Most Read
    • Leaders’ Lessons: what can we learn from those at the top?
    • Forced mediocrity can boost your creativity
    • Delta’s Ed Bastian: building staff loyalty to survive a crisis
    • Toxic offices don’t change when they go virtual
    • The boardroom’s futile pursuit of purpose
  • Life & Arts
    Sections
    • Life & Arts Home
    • Arts
    • Books
    • Food & Drink
    • FT Magazine
    • House & Home
    • Style
    • Travel
    • FT Globetrotter
    Most Read
    • The fight to overcome vaccine hesitancy among African Americans
    • Budget 2021: the knowns and unknowns
    • UK ‘tax day’ will signal long-term government policy, experts say
    • How Belarus’s protesters staged a digital revolution
    • Stuffed squid with celery and orange — a Rowley Leigh recipe
  • How to Spend It
  • Sign In
  • Subscribe
MenuSearch
  • Home
  • World
  • US
  • Companies
  • Tech
  • Markets
  • Climate
  • Opinion
  • Work & Careers
  • Life & Arts
  • How to Spend It
Financial Times
  • Sign In
  • Subscribe

$50 for your first 3 months Get the print edition and steer from crisis to recovery

Subscribe now

Phil Buchanan

Add to myFT Digest

Add this topic to your myFT Digest for news straight to your inbox

  • Monday, 15 April, 2019
    Philanthropy
    Philanthropy’s blighted reputation threatens giving

    Donations are increasingly caricatured as self-protective ruses for the wealthy

  • Promoted Content
Previous You are on page 1 Next

Useful links

Support

View Site TipsHelp CentreContact UsAbout UsAccessibilitymyFT TourCareers

Legal & Privacy

Terms & ConditionsPrivacy PolicyCookiesCopyrightSlavery Statement & Policies

Services

FT LiveShare News Tips SecurelyIndividual SubscriptionsGroup SubscriptionsRepublishingContracts & Tenders
Executive Job SearchAdvertise with the FTFollow the FT on TwitterFT TransactSecondary Schools

Tools

PortfolioToday's Newspaper (ePaper)Alerts HubBusiness School Rankings
Enterprise ToolsNews feedNewslettersCurrency Converter
More from the FT Group
Markets data delayed by at least 15 minutes. © THE FINANCIAL TIMES LTD 2021. FT and ‘Financial Times’ are trademarks of The Financial Times Ltd.
The Financial Times and its journalism are subject to a self-regulation regime under the FT Editorial Code of Practice.
Financial Times

International Edition

  • Switch to UK Edition
  • Top sections
  • Home
  • World
    • Global Economy
    • UK
    • US
    • China
    • Africa
    • Asia Pacific
    • Emerging Markets
    • Europe
    • Americas
    • Middle East and North Africa
  • US
    • US Economy
    • US Companies
    • US Politics & Policy
  • Companies
    • Energy
    • Financials
    • Health
    • Industrials
    • Media
    • Professional Services
    • Retail & Consumer
    • Tech Sector
    • Telecoms
    • Transport
  • Tech
  • Markets
    • Alphaville
    • Markets Data
    • Capital Markets
    • Commodities
    • Currencies
    • Equities
    • Fund Management
    • Trading
    • Moral Money
    • ETF Hub
  • Climate
  • Opinion
    • Columnists
    • The FT View
    • The Big Read
    • Lex
    • Obituaries
    • Letters
  • Work & Careers
    • Business School Rankings
    • Business Education
    • Entrepreneurship
    • Recruitment
    • Business Books
    • Business Travel
  • Life & Arts
    • Arts
    • Books
    • Food & Drink
    • FT Magazine
    • House & Home
    • Style
    • Travel
    • FT Globetrotter
  • Personal Finance
    • Property & Mortgages
    • Investments
    • Pensions
    • Tax
    • Banking & Savings
    • Advice & Comment
    • Next Act
  • How to Spend It
  • Special Reports
  • FT recommends
  • Graphics
  • Lex
  • Alphaville
  • Lunch with the FT
  • FT Globetrotter
  • #techAsia
  • Moral Money
  • FTfm
  • Newsletters
  • Video
  • Podcasts
  • News feed
  • myFT
  • Portfolio
  • Today's Newspaper (ePaper)
  • Crossword
  • Our Apps
  • Help Centre
  • Subscribe
  • Sign In