world economic news
- ECONOMY
UK professional service firms seek exemptions to ban on Russia work
Auditors and tax advisers in the UK are lobbying the government for exemptions from a ban on working for businesses…
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Soaring steel prices hit South Korean shipbuilders’ turnround hopes
Higher steel prices are set to delay South Korean shipbuilders’ return to profitability, despite surging orders and rising prices for…
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Airbnb gives up on China as it shifts focus to outbound travel
Airbnb will close its domestic business in China this year, removing all listings by the summer and retreating after a…
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Five of Singapore’s best places for brunch with a difference
This article is part of a new collaboration between FT Globetrotter and Nikkei Asia. FT Globetrotter will showcase the best…
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UK withdrawal from Afghanistan was a ‘disaster’ and ‘betrayal’
The UK’s withdrawal from Afghanistan was a “disaster” and “betrayal” of its partners in the country caused by systemic failures…
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Erdoğan says he no longer recognises Greece’s leader
Recep Tayyip Erdoğan said he no longer recognised the existence of the leader of neighbouring Greece and would not meet…
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Former São Paulo governor withdraws from Brazil election race
The former governor of São Paulo has pulled out of Brazil’s presidential race, in another blow to the shrinking political…
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Chelsea Football Club sale set for approval after Abramovich meets ‘red lines’
Roman Abramovich’s £4.25bn sale of Chelsea Football Club to a consortium spearheaded by US financier Todd Boehly is expected to…
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Banks and funds stash record $2tn overnight at Fed facility
Money market funds and banks parked a record $2.04tn at the Federal Reserve on Monday, underscoring the demand for safe-haven…
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British lawyers plan further protest over legal aid
Criminal solicitors in London will refuse to take on low-paid cases this week in protest over the government’s legal aid…
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Time trickles away for a success at the WTO
This article is an on-site version of our Trade Secrets newsletter. Sign up here to get the newsletter sent straight…
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Russian shipping group sells sixth of fleet to repay debts
Russia’s biggest shipping group Sovcomflot and its western lenders have sold a sixth of its Kremlin-owned fleet as part of…
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How shadow banks threaten the global economy
The writer is chair of Rockefeller International As the US Federal Reserve raises interest rates, debate rages over whether this…
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EU states braced for extra cash demands from Brussels
EU member states are braced for demands of extra money from Brussels as the EU budget comes under significant strain…
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Nations in need seek more help on ‘green deal’ loans
For developing countries, the challenge of raising finance to meet the costs of climate change looks impossibly daunting. Rich countries…
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IMF head warns of ‘biggest test since second world war’
The head of the IMF has warned at the start of the World Economic Forum in Davos that the global…
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Russia threat deters bond investors from Baltics and Finland
Russia’s invasion of Ukraine has sent jitters through bond markets in the Baltics and Finland, and deterred international investment in…
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Lib Dems urge clarity on Boris Johnson’s discussions with political adviser
The Liberal Democrats have urged Downing Street to clarify whether Boris Johnson — who is resisting the idea of an…
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Global tensions strain weak links in tech supply chains
Technology often transcends borders. The internet is the clearest example: a network encircling the globe, connecting billions of people for…
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London Lawfare: how lawyers helped Russia’s super-rich
For Russian oligarchs seeking to silence opponents, the English legal system has been likened to “the biggest, hardest bat you…
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Davis Polk Asia chair withdraws from Hong Kong security law forum
The Asia chair of US law firm Davis Polk & Wardwell has pulled out of a Hong Kong government forum…
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The new order of St Barths
As we bank towards the famous runway, metres from the beach of Saint Jean, the visions that fleet across my…
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Supercomputers: the battle of the speed machines hots up
Modern smartphones are thousands of times more powerful than the supercomputers of a few decades ago. But they are puny…
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Big-money deals obscure risk for UK’s empty offices
More than two years since the pandemic first shuttered offices in the UK, they are still half empty. So why…
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Why US abortion rights are under attack
It’s about to become much harder to find safe abortion care in America, in a country where some states already…
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Australians cast votes as Morrison and Albanese make final election push
Australia’s election is on a knife-edge as voters cast their ballots, with the final opinion polls of the campaign providing…
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The NHS needs access to our shared medical data to save lives
One Saturday in 2016, I rushed into a hospital where my father, who had collapsed at home, was lying barely…
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Military briefing: Ukraine seeks way to break Russia’s Black Sea blockade
The sky above the Ukrainian city of Lviv lit up in the early hours of Tuesday after a volley of…
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Japanese studios fight back against pirates uploading 10-minute ‘fast movies’
Japanese film production companies have launched a civil lawsuit claiming copyright infringement against people who have condensed their feature films…
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Are low-traffic neighbourhoods good for our cities?
Early on in the pandemic, Clair Battaglino, a former primary school teacher in Hackney, east London, returned home from abroad…
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Outback and beyond in Australia
If you want to see Sydney in full boomtown spate, go to Margaret on a Friday night. Opened last year…
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US law firm denounced for joining event to mark Hong Kong security law
US law firm Davis Polk & Wardwell has been condemned for agreeing to participate in a Hong Kong government event…
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UK retail sales jump despite surge in inflation
British retail sales unexpectedly rose in April as shoppers bought more clothes, drinks and tobacco, easing concerns over the pace…
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Joe Biden waters down Indo-Pacific Economic Framework to win more support
Joe Biden has decided to water down his Indo-Pacific Economic Framework in an eleventh-hour move to attract more countries to…
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Senior US lawmaker pushes UK to find ‘solution’ to N Ireland stand-off
Richard Neal has accused the UK of starting to take the Good Friday Agreement “for granted”, as the influential Democratic…
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Covid rules are still keeping galleries away from Art Basel Hong Kong
When Art Basel Hong Kong opens on May 25, it will have a healthy turnout — 130 galleries from around…
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Canada to ban Chinese telecoms Huawei and ZTE from 5G networks
Canada said it will ban Huawei and ZTE from providing 5G services in the country, in the latest move by…
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Israeli government in minority after MP resigns
Israel’s ruling coalition became a minority government on Thursday after a leftwing MP quit in protest at its treatment of…
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Brussels to help EU countries end reliance on Russian nuclear fuel
Brussels is to help EU countries end their dependency on Russian nuclear fuel as it seeks to cut the bloc’s…
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Microsoft woos Brussels as battle over the cloud intensifies
Will the future of global information technology be dominated by a handful of US cloud computing giants, along with one…
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UK’s autumn Covid booster campaign could exclude most Britons
Most Britons are expected to be denied autumn coronavirus boosters after the UK government’s vaccine advisory group recommended that only…
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McDonald’s agrees sale of Russian business to local franchisee
McDonald’s has agreed to sell its Russian business to Alexander Govor, a local franchisee who operates 25 of the chain’s…
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French waste and water tie-up risks rise to UK bills, regulator warns
UK competition regulators have warned that the €13bn merger of French waste and water groups Veolia and Suez risks driving…
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ECB to target ‘empty shell’ operations at big investment banks
The European Central Bank has warned the biggest Wall Street and City of London investment banks that it has lost…
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US companies boost capital spending to tackle supply bottlenecks
US companies are accelerating capital spending despite slower economic growth, as the impact of supply chain disruptions and “deglobalisation” override…
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Smartphone makers cut back and Son changes tack
Hello, this is Akito Tanaka from Singapore. Here, various Covid-related restrictions are finally being eased, and life is slowly starting…
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Upcoming by-elections are fertile ground for the Labour-Lib Dem informal pact
This article is an on-site version of our Inside Politics newsletter. Sign up here to get the newsletter sent straight…
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The Russian network helping Ukrainians flee the country
Tatyana, her husband and three children escaped the horrors of Mariupol several weeks ago, but relief only began to sink…
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Nowhere to hide
This article is an on-site version of our Unhedged newsletter. Sign up here to get the newsletter sent straight to…
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Asian shares tumble after US stocks suffer steepest daily drop since 2020
Shares in Chinese technology companies led declines across the Asia-Pacific region on Thursday in the wake of Wall Street’s worst…
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