News

Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world The US will go ahead with plans to hit Canada, Mexico and China with new tariffs, the White House has said, heightening the risks of a trade war. Washington will hit Canada and

Bank of Canada governor Tiff Macklem said the central bank’s projections showed US tariffs would probably put Canada into a recession. BoC modelling, based on a scenario in which the US imposes permanent 25 per cent tariffs on every one of its trading partners and those nations respond in kind, shows a likely 2 per

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. ASML, the chip manufacturing equipment maker, said orders for its most advanced machines surged last quarter, suggesting producers of artificial intelligence processors were increasing capacity before China’s DeepSeek this week triggered a panic over future

Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world US federal agencies are set to freeze the payment of hundreds of billions of dollars of domestic federal grants and loans on Tuesday in President Donald Trump’s latest aggressive move to slash and

OpenAI chief executive Sam Altman said he would fast-track product releases and “deliver much better models” after the release of a powerful new model by Chinese start-up DeepSeek undermined Silicon Valley’s lead in a global artificial intelligence arms race. DeepSeek’s generative AI chatbot, a direct rival to ChatGPT, is able to perform some tasks at

When Italian financial power broker Mediobanca helped its longtime client Monte dei Paschi di Siena structure a make-or-break capital raising in 2022, little did it know it would ultimately become a takeover target for the former poster child of the country’s failed banking system.  On Friday, MPS astonished investors by launching a €13.3bn all-share bid

Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world US diplomats have requested an urgent exemption for Ukraine-related programmes from a 90-day freeze on foreign aid and “stop work” orders issued by secretary of state Marco Rubio, according to documents seen by

Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world One of Donald Trump’s most controversial cabinet picks has been narrowly confirmed by the US Senate to head the Pentagon, despite allegations of sexual assault and alcohol abuse.  Pete Hegseth will become US

Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Donald Trump has started his second term as predicted: with a fusillade of executive orders, memos, vows, musings and overheated rhetoric. The world has had at least a year to brace itself for

Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Cutting red tape, unleashing, debottlenecking — these are all great business-friendly policies. They work wonders on industries previously fettered by regulation. But there is little evidence that this has been the case for

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK’s competition watchdog has launched an investigation into Apple and Google’s mobile platforms, just days after the government forced out its chair as part of a push to cut the regulatory burden on business.

Stay informed with free updates Simply sign up to the European banks myFT Digest — delivered directly to your inbox. European banks are on course to return close to €123bn to shareholders for the second consecutive year as lenders lift dividends above their pre-financial crisis peak and buybacks soar. The largest listed European and UK

Stay informed with free updates Simply sign up to the Fund management myFT Digest — delivered directly to your inbox. US activist Saba Capital has failed in its attempt to overthrow the board of Herald investment trust, dealing the first blow in its campaign against seven UK-listed closed-ended companies. The majority of shareholders in Herald

Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Donald Trump’s inaugural address eight years ago became known as the “American carnage” speech for his invocation of a dystopia of rusted-out factories, poverty and crime. His second struck, in parts, the sunnier

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Labour will have to focus heavily on developing service exports to deliver faster economic growth, according to an analysis that warns that the UK’s Northern regions continue to lag far behind the more prosperous South

It was the moment Israelis had been yearning for. On Sunday afternoon, 471 long days after they were seized by Hamas in the blackest hour of Israel’s history, three young hostages made the painstaking journey from imprisonment in Gaza to freedom in their homeland. The release of the three women — Romi Gonen, Emily Damari

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A truce between Israel and Hamas due to come into effect on Sunday morning has been delayed after Hamas failed to provide the names of hostages to be freed later in the day for what

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Santander is reconsidering its presence in the UK two decades after its acquisition of Abbey National made it a major player on Britain’s high street, according to people familiar with the matter. The bank is

Stay informed with free updates Simply sign up to the European banks myFT Digest — delivered directly to your inbox. Commerzbank is exploring cutting thousands of jobs as it seeks to fend off unwanted advances from Italy’s UniCredit, according to people familiar with the matter. The plans, which have not yet been formalised, were expected

Sir Keir Starmer, Britain’s prime minister, said he could strike a trade deal with Donald Trump and avoid punitive tariffs on the UK as he dismissed as “noises off” Elon Musk’s strident criticism of his leadership. Starmer, speaking to the Financial Times on a visit to Kyiv, insisted Trump’s inauguration on Monday would not add