What the 0.5% interest rate hike means for your mortgage and savings
The Bank of England has upped base rate from 3 per cent to 3.5 per cent, in its latest attempt to tame soaring inflation.Monetary Policy Committee members voted 6-3 to...
US Senate votes to ban TikTok on government devices
The US Senate has passed a bill that bars federal employees from using TikTok, the short video-sharing app, on government-issued devices in the latest move by Washington to target Chinese...
Norsk Hydro plans ‘thousands’ of cost-cut initiatives as power prices bite
Norsk Hydro is launching “thousands of initiatives” to cut costs at the Norwegian aluminium producer as European heavy industry fights to stay competitive amid surging power prices. The supplier to...
Sheila Bair: ‘I feel for the regulators. You’re damned if you do and you’re damned if you don’t’
This is part of a series, ‘Economists Exchange’, featuring conversations between top FT commentators and leading economists and policymakersCentral banks across the world, most notably in the US, are struggling...
Elon Musk offloads another $3.6bn of Tesla stock
Elon Musk has offloaded another tranche of Tesla stock, worth almost $3.6bn, in a move that risks further irritating already frustrated shareholders in the electric vehicle group.The billionaire, who took...
Petrobras defends decarbonisation strategy as political pressure rises
Brazilian oil and gas producer Petrobras has defended its level of spending on decarbonisation initiatives, even as the country’s incoming government pushes for it to play a bigger role in...
Fall of the house of Sergei Leontiev
One morning in August 2015, a call came into Sergei Leontiev’s mansion on Moscow’s millionaire’s row. Leontiev, a late riser with a habit of arriving at the office mid-afternoon and...
Oscar de la Renta is done ‘keeping up with the Joneses’
Oscar de la Renta CEO Alex Bolen, right, with creative directors Fernando Garcia and Laura Kim, and a model in Oscar de la Renta © Photographed for the FT by...
Mobile games market to decline for first time in over a decade
The mobile games market is set to decline this year for the first time since the beginning of the smartphone era, as the once fast-growing sector is hit by rising...
Rio Tinto reluctantly hunts for deals as mining industry consolidates
Rio Tinto is looking for opportunities to acquire critical mineral assets such as lithium and nickel, despite admitting it remains “reluctant” to pursue non-organic expansion.The A$171bn (US$117bn) miner told an...