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Queen Elizabeth II has completed the journey to her final resting place at Windsor after a momentous state funeral at Westminster Abbey, as world leaders joined Britons in mourning the country’s longest-serving monarch. The Queen was laid to rest with her late husband Prince Philip at a private ceremony at the King George VI memorial

The stock market downturn since the start of the year has caused the longest drought in US technology listings this century, with experts cautious about the pace of a revival even after tentative signs of life in other sectors. Wednesday will mark 238 days without a tech IPO worth more than $50mn, surpassing the previous

The US central bank will lift its benchmark policy rate above 4 per cent and hold it there beyond 2023 in its bid to stamp out high inflation, according to the majority of leading academic economists polled by the Financial Times. The latest survey, conducted in partnership with the Initiative on Global Markets at the

Wall Street stocks recorded the biggest weekly drop in months after a profit warning from economic bellwether FedEx jolted investors who are already on edge over a looming interest rate rise by the US Federal Reserve at its upcoming meeting. The blue-chip S&P 500 index fell 0.7 per cent on Friday, bringing weekly losses to

Prime minister Liz Truss and chancellor Kwasi Kwarteng are preparing to launch a last-ditch charm offensive to persuade Japan’s SoftBank to list British tech company Arm in the UK. The government will push for high-level talks with SoftBank executives after the official period of mourning for the Queen ends next week, according to officials with

Kwasi Kwarteng, chancellor, is seeking to scrap Britain’s cap on bankers’ bonuses, introduced after the 2008 financial crash, in a controversial move to boost the City of London’s global competitiveness. Kwarteng argues the move would make London a more attractive destination for top global talent and would be a clear signal of his new “Big

Companies have been warned by UK government officials that they will have to wait longer than households for help from its £150bn energy package, due to the difficulty of launching a support system before November. The prospect of weeks of delays is increasingly worrying business leaders, since hundreds of thousands of companies reach the end

Russia will push on with its invasion of Ukraine until all military goals are met, the Kremlin has said, as it responded to Kyiv’s massive counter-offensive in the east, which has reclaimed more than 3,000 square kilometres of terrain. The Russian military setback is the Kremlin’s biggest since it was forced to U-turn on plans

Ukraine needs to secure the vast territory it has recaptured from possible Russian counter-attack, the country’s defence minister has warned, as he said Kyiv’s lightning offensive had gone far “better than expected”. The attack has routed the Kremlin’s forces, led to the recapture of some 3,000 sq km of Ukrainian territory and prompted an unusual

Russia abandoned military strongholds in northeastern Ukraine on Saturday in an apparent rout of Russia’s front line positions, after Ukrainian forces pushed forward in a lightning advance that has left Moscow’s forces in disarray. Russia’s defence ministry said its forces had pulled back from the strategic city of Izyum, claiming it had decided to “regroup” and transfer

King Charles III addressed his nation for the first time on Friday, vowing to emulate his late mother Queen Elizabeth’s “life-long service” as Britain began a period of national mourning. The new monarch’s words came at the end of day of parliamentary tributes, gun salutes and raw emotion, as thousands of people gathered at the

Queen Elizabeth II, Britain’s longest-serving monarch, has died, leaving her people in mourning but reflecting on a life of duty in which she bound the country together through 70 years of momentous change. Her death, at the age of 96, was announced by Buckingham Palace at 6.30pm on Thursday. It marked a watershed moment in

The pound has fallen to its weakest levels since 1985, reflecting the daunting scale of the economic challenge new prime minister Liz Truss faces as she prepares to unveil an emergency energy package. Truss will on Thursday give details of the state intervention to shield households and companies from soaring energy bills. Government insiders said

Liz Truss has vowed that Britain will “ride out the storm”, as the new UK prime minister began confronting an economic crisis with a massive energy bailout for families and businesses that could cost more than £150bn. Truss dodged torrential rain outside Downing Street to tell the country that she would create an “aspiration nation”,

Liz Truss will enter Downing Street on Tuesday after a bruising battle to become the UK’s next prime minister and will immediately start work on a two-year package of energy relief that could cost up to £100bn. The foreign secretary beat rival and former chancellor Rishi Sunak in a ballot of Conservative party members by

More governments will need to intervene to relieve the strains on Europe’s power market, officials and industry figures have warned, after Sweden and Finland launched emergency backstops for their energy producers and UK electricity generators called on the British government to help. The Nordic states this weekend both announced emergency financial liquidity measures for their

Sweden will give emergency liquidity support to electricity producers as its prime minister warned that Russia’s decision to halt gas deliveries to Europe could place its financial system under severe strain. Magdalena Andersson said on Saturday that the government would offer hundreds of billions of kroner in funding to electricity producers, who have seen the

Russia has indefinitely suspended gas flows through the Nord Stream 1 pipeline, exacerbating a squeeze on Europe’s energy supplies. State-owned Gazprom, which was meant to restore operations on the Baltic Sea pipeline on Saturday after three days of maintenance, said the suspension was due to a technical fault. The move comes hours after the G7

Global stocks dropped and the dollar jumped after fresh Covid-19 lockdowns in China and gloomy data from the manufacturing powerhouse compounded investor worries that the global economy is faltering. Wall Street’s S&P 500 was down 0.9 per cent by the early afternoon in New York, leaving it on track to close down for a fifth

Russia has halted the flow of gas through the Nord Stream 1 pipeline to Europe for three days, the latest disruption to an energy link that has been central to Moscow’s efforts to squeeze supplies. Wednesday’s shutdown of the pipeline, which Russia claims is needed for essential maintenance, will add to anxiety in European countries

Big investors are betting on a fresh surge in UK borrowing costs because of mounting concerns the energy crisis will inflame inflation and trigger further Bank of England rate rises. The darkening outlook for the £2tn gilt market comes as surging energy prices exacerbate Britain’s cost of living crisis and heighten fears of recession. Goldman