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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Investors have been building up bets against the pound, as conviction grows that the Bank of England will start cutting interest rates by the summer, ahead of its US counterpart. Currency speculators’ wagers on a

Israel threatened to expand its military operation in Rafah after tanks and troops seized the main border crossing between Gaza and Egypt, as international mediators struggled to continue talks aimed at ending the conflict. Israel launched its ground offensive into eastern Rafah on Monday, hours after Hamas said it had accepted a draft proposal of

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israel has carried out night air strikes on Rafah and said a ceasefire proposal accepted by Hamas fell “far from Israel’s necessary requirement”, as international mediators and officials struggled to continue talks to halt fighting

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Hamas has said it has broadly accepted a proposal to free dozens of Israeli hostages in exchange for Palestinian prisoners and a temporary ceasefire in its seven-month war with Israel. According to a statement on

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Finland has successfully tested its ability to run a war economy and has begun storing military equipment outside its national borders as the Nordic country renowned for its high level of preparedness deals with an

A US crackdown on banks financing trade in goods for Vladimir Putin’s invasion of Ukraine has made it much more difficult to move money in and out of Russia, according to senior western officials and Russian financiers. Moscow’s trade volumes with key partners such as Turkey and China have slumped in the first quarter of

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak was facing renewed Conservative unrest on Saturday night after his party suffered crushing defeats in a series of mayoral contests including London, and Labour claimed victory in its flagship West Midlands. Some Tory

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. As Sadiq Khan waited to deliver his victory speech on Saturday after clinching a record third term as London’s mayor, he shifted uneasily from one foot to the other. The veteran Labour politician had come

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Reform UK is boosting Labour’s prospects in its battle with the Conservatives, but narrow gains for the right-wing party in local elections where it stood in few seats have raised doubts over its wider electoral

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak’s Conservatives were on the rack on Friday after the party was trounced by Labour in the Blackpool South parliamentary by-election and faced huge losses in local elections across England and Wales. Sir Keir

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Russian energy giant Gazprom plunged to its biggest loss in at least a quarter of a century after gas sales more than halved in the fallout from Vladimir Putin’s war in Ukraine. The loss of

President Joe Biden was hoping for a lift from the Federal Reserve this year. On Wednesday, the Fed dealt those hopes a blow. Jay Powell, the central bank’s chair, confirmed what many have suspected for some time: interest rate cuts in the world’s biggest economy are not imminent. The economy remains too hot to start

Stay informed with free updates Simply sign up to the US interest rates myFT Digest — delivered directly to your inbox. The Federal Reserve has signalled that US borrowing costs are likely to remain higher for longer, as a it wrestles with persistent inflation across the world’s biggest economy. The Federal Open Market Committee said

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Sir Keir Starmer’s Labour party is set to unveil a weakened package of workers’ rights in the coming weeks in its latest softening of radical policies ahead of the upcoming general election, the Financial Times

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump has been found in contempt of court and fined $9,000 for repeatedly attacking potential witnesses and jurors in his Manhattan “hush money” case, in violation of a gag order imposed on the former

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. HSBC’s chief executive Noel Quinn is to retire unexpectedly after five years, setting off a hunt for a successor at the UK-based bank. Quinn has overhauled the lender since taking charge in 2019, selling off

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Scotland’s beleaguered first minister Humza Yousaf is considering quitting ahead of crunch votes of no confidence expected this week. Yousaf, who faces two attempts to bring down his premiership and government, is set to decide

The largest western banks that remain in Russia paid the Kremlin more than €800mn of taxes last year, a fourfold increase on prewar levels, despite promises to minimise their Russian exposure after the full-scale invasion of Ukraine. The seven top European banks by assets in Russia — Raiffeisen Bank International, UniCredit, ING, Commerzbank, Deutsche Bank,

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Elon Musk met senior Chinese trade officials in Beijing on Sunday as the Tesla chief faces questions over slowing sales growth for his electric vehicles and data security concerns in the world’s biggest car market.

Rishi Sunak will face a challenge to his leadership if the Conservatives suffer heavy losses and lose high-profile Tory mayors in next week’s local elections, rightwing rebels have claimed. Most Conservative MPs believe the prime minister would survive even a terrible set of results on May 2 because there is no viable alternative and a