economic news this week
- ECONOMY
US bank executives wary on global economic outlook
The leaders of some of Wall Street’s biggest banks have issued wary outlooks for the global economy, as consumers spend…
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City minister warns UK regulators to improve transparency
The City minister has warned Britain’s financial services regulators to raise their game ahead of the launch of wide-ranging reforms…
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Michelle Mone steps back from House of Lords after PPE contract claims
Baroness Michelle Mone, the Conservative peer under pressure over contracts awarded by the UK government during the coronavirus pandemic, is…
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How the G7’s oil price cap blocked the Bosphorus
The G7’s plan to keep Russian crude flowing whilst denting Moscow’s revenues is already facing its first problem. By Monday…
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Crypto regulation/stablecoins: UK aims to rein in alternative currencies
The UK is preparing to lasso the crypto bull, with a sweeping new regulatory regime. Though welcome, this comes too…
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Electric car battery prices rise for first time in more than a decade
The price of lithium-ion batteries rose for the first time in more than a decade this year, with surging raw…
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Is Boris Johnson really the emissary that blockchain needs right now?
With FTX in tatters, bitcoin in abeyance and the entire fundament of crypto finance in doubt, the technology of blockchain…
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The (American) age of ETFs
FT Alphaville highlighted on Monday how even Fidelity is now starting to convert some of mutual funds into ETFs. But…
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TSMC triples Arizona chip investment to $40bn
Taiwan Semiconductor Manufacturing Company will more than triple its investment in the US state of Arizona to $40bn, as geopolitical…
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Slovenia plans to build pipeline to Hungary to transport Algerian gas
Slovenia plans to build a pipeline that would transport Algerian gas to Hungary, helping Budapest to kick its dependence on…
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Lawyers use pro bono hours to step up fight for racial justice
Big-firm lawyers are refocusing their pro bono efforts — which traditionally cover a range of issues — to address the…
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China braces for Covid outbreaks among medical staff and migrant workers
Chinese health authorities have raised concerns about Covid-19 outbreaks among frontline medical staff and migrant workers returning home during the…
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Goldman thinks good news is good news again
Edward Price is principal at Ergo Intelligence. A former British trade official, he also teaches at New York University’s Center…
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Do you really want to live to be 100?
I’m one of life’s optimists. When I think about living to be 100 years old, I picture a birthday party…
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China’s elderly vaccine refuseniks pose obstacle for Xi Jinping
If Xi Jinping is to navigate an exit from the zero-Covid strategy of relentless lockdowns, mass testing and contact tracing,…
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Investors need to adapt to the new multipolar world
The writer is chief investment officer at Legal & General Investment Management Of the many risks asset managers need to…
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Oil tanker jam forms off Turkey after start of Russian oil cap
A traffic jam of oil tankers has built up in Turkish waters after western powers launched a “price cap” targeting…
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Italy’s central bank warns Giorgia Meloni’s plans to promote cash use carry risks
Italy’s central bank has claimed government plans to promote cash instead of digital payments risk boosting the country’s black economy,…
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Europe urgently needs a new industrial master plan
The writer is executive director of the International Energy Agency This is a pivotal moment for Europe. The global energy…
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Trafigura secures $3bn loan facility to provide Germany with natural gas
Commodity trading house Trafigura has signed a $3bn loan facility partly backstopped by the German government to help supply natural…
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Canada to send more warships through Taiwan Strait in signal to China
Canada plans to sail more warships through the Taiwan Strait to affirm the waters claimed by China are international, after…
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Job data bad
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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War and adverse weather set to keep food prices high
Climate change and the war in Ukraine are set to keep food prices at far higher levels than before the…
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Labour to set out plans for devolving UK economic powers
Sir Keir Starmer, Labour leader, will on Monday set out plans to devolve economic powers and create a series of…
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English councils struggle to maintain Ukraine refugee scheme as war drags on
There were deer outside her window and pheasants in the woods when Ukrainian refugee Alina Shakirova and her eight-year-old son…
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Keir Starmer must plot a bold route back to Europe for Britain
The writer is a former Member of the European Parliament The rest of Europe looks with amazement at the goings-on…
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What will Chinese trade data tell us about the economy?
What will Chinese trade data tell us about the health of the economy? Trade data slated for release on Wednesday…
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Anwar Ibrahim’s ascent in Malaysia
Anwar Ibrahim’s arrival as Malaysia’s prime minister caps one of the world’s most extraordinary political journeys. It also brings a…
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Europe should not protest too much on energy
A siege mentality has taken hold of EU industries and their political friends. They feel kneecapped by how Vladimir Putin’s…
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Investors bet on interest rate cuts in 2023 despite Fed signals
Investors predict the Federal Reserve will cut rates when faced with a slowing economy next year, betting the US central…
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Meloni pushes back on Italy’s shift into digital payments age
Patricia Flamini’s café does brisk business selling coffee, pastries and sandwiches in the heart of Rome, with prices starting at…
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Eurozone bank lending predicted to fall for first time since 2014
Eurozone banks are expected to cut lending next year for the first time since 2014 as countries across the region…
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Workplace wellbeing: how to make it better — and what makes it worse
Ian Edwards has long sought to improve the wellbeing of employees at Nomura, but in the past few years he…
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Posco chief warns strong dollar is dragging down profits
Posco, one of the world’s largest steelmakers, has warned that a strong dollar and weak Korean won are inflating the…
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Russia’s deportations of Ukrainian children stir accusations of genocide
This article is an onsite version of our Europe Express newsletter. Sign up here to get the newsletter sent straight…
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Eleanor Jackson Piel, US civil rights lawyer, 1920-2022
Eleanor Jackson Piel became a lawyer because classmates told her she could not get into law school. “So of course…
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Hakeem Jeffries, big tent Democrat tasked with bringing back the House
When Hakeem Jeffries was growing up in Crown Heights, a working-class neighbourhood in Brooklyn, his congresswoman was Shirley Chisholm, a…
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French hail ‘breakthrough’ in EU dispute with US over climate law
US president Joe Biden’s offer to fix provisions in his flagship climate package to help US allies is a “breakthrough”…
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Recession watch: manufacturing edition
Before anyone gets too worried about tighter monetary policy after the strong jobs report, first take a look at Thursday’s…
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Nurses strikes could hit A&E services in England, Wales and Northern Ireland
British hospital leaders are holding intensive talks with local union officials to try to limit the impact of strikes on…
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Biden signs bill to avoid US rail strike
Joe Biden has signed a deal to avert a potential rail strike after he had pushed for an eleventh-hour agreement…
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InfoWars founder Alex Jones files for bankruptcy
Alex Jones, founder of the far-right US website InfoWars, has filed for bankruptcy after being ordered to pay almost $1.5bn…
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Private schools are an easy target for Labour, but not a risk-free one
Private schools in England have a twofold problem: both parts explained by success. Thanks to the improvements in education overseen…
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Afghan activist Zarifa Ghafari: ‘They sold Afghanistan to the Taliban’
Zarifa Ghafari says it became clear she could no longer trust her driver when Taliban militants tried to blow up…
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Brexit: Has business found its voice?
This is the third part in a new FT series, Brexit: the next phase. Nearly two years after the UK’s…
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On the breadline: inflation overwhelms Europe’s food banks
With no job and speaking little of the language, Olena Vinykova has relied on her local food bank to cope…
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UK regulator warns insurers over low payouts
The UK’s financial regulator has warned insurers not to undervalue cars and other property when it comes to making payouts…
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Palmer Luckey’s defence start-up Anduril raises almost $1.5bn
Defence technology start-up Anduril has raised nearly $1.5bn in the second-biggest venture capital round of the year in the US,…
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Incendiary claims about the UK census do not reflect reality
This week, the latest tranche of data from the UK’s 2021 census was published, including figures on race and ethnicity.…
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Finnish leader warns democratic countries against being ‘naive’ on China
Finland’s prime minister has warned democratic countries to “stop being naive” about China, saying it is essential that they reduce…
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