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Europe is blessed with many things but abundant and accessible mineral wealth and processing infrastructure are not among them. Industrially, Europe has positioned itself as a centre of excellence for research and development and high-end manufacturing, insulated from the challenges of extracting and processing raw commodities. Politically, Europe has driven the global agenda in environmental,

Two weeks ago the new Retroville shopping centre in north-western Kyiv was hit by Russian shelling, killing eight people. Now, a backhoe digger is clearing a mountain of debris in one section of the mall and Vladyslav Apostolov, co-founder of coffee chain Coffeelat, is trying to get back to business. “I am working on reopening

The writer is a bond portfolio manager at Barksdale Investment Management and co-author of ‘Undiversified: The Big Gender Short in Investment Management’ Not to be left out of the ESG gold rush, a growing number of bond firms now offer environmental, social and governance funds. ESG integration has become a standard box to be checked

John Hejduk was what became known as a paper architect. It’s true that the American realised a few buildings, but his real influence was exerted through his strange sketches of enigmatic forms, evocative fragments of industrial architecture and sinister, dreamlike pieces of concentration camp towers appearing side-by-side with Ferris wheels and beach huts. One of

This is an audio transcript of the Rachman Review podcast episode: French presidential election too close to call [MUSIC PLAYING] Gideon RachmanHello and welcome to the Rachman Review. I’m Gideon Rachman, chief foreign affairs commentator for the Financial Times. This week, we’re looking at the French presidential election. The first round of voting takes place

Through the little country town of Machynlleth, just before the old Dyfi blast furnace and down the potholed lane through fields, woods and over the River Einion, you’ll find Wales’s best restaurant. Though the setting is deeply rural — getting here by car takes three hours from Cardiff, more like six from London — those

This is part of a series, ‘Economists Exchange’, featuring conversations between top FT commentators and leading economists A chart first brought economist Branko Milanovic to worldwide attention. In 2013, the former World Bank economist and his colleague Christoph Lackner captured in a simple picture how global growth in two decades of rapid globalisation had accrued

European banks are stepping up their complaints to Brussels about a lack of clarity on how to implement EU sanctions on Russia and a “misalignment” with equivalent measures imposed by the US and UK. Representatives of the region’s biggest banks, including the European Banking Federation, are due to discuss their concerns with European Commission officials

Samsung Electronics has forecast its highest first-quarter operating profit since 2018 on strong smartphone and microchip sales, but the positive projections failed to dispel growing doubts over its technological edge against rivals Apple and Taiwan chipmaker TSMC. Chip prices held up better than expected in the first three months of 2022 despite the gloomy global

A spate of lockdowns in Shanghai and other Chinese cities is piling severe pressure on transport and logistics across the country, exacerbating the economic fallout of the government’s commitment to its zero-Covid policies as cases continue to soar to record levels. The disruption has affected the trucking industry in particular, which plays a critical role

A South Korean state-run bank has delayed the approval of a loan earmarked for an offshore gas project run by Australian energy company Santos after indigenous Australians argued the project would damage the local environment. The delay of the loan to South Korean energy group SK E&S, a major investor in the scheme, and the

Blackstone Group is weighing a takeover bid for Italian infrastructure group Atlantia, the manager of motorways, toll roads and airports across Europe, in what would be one the largest buyouts in the booming industry, said people briefed about the matter. The New York-based private equity group is working on the bid with Edizione, a holding

Levi Strauss does not expect to be able to reopen in Russia this year, its chief executive said on Wednesday, a month after the California jeans maker suspended operations there “temporarily” in response to Vladimir Putin’s invasion of Ukraine. “The way things are going now, I’m not optimistic we’ll be back in business in full

Reforming the UK’s tax system by aligning the rates charged on different sources of income would improve equality and raise more revenue from wealthy individuals, according to a report by a leading think-tank. Researchers at the Institute for Fiscal Studies found that the UK’s tax system was largely progressive, raising more tax from those with

There is much talk of how the west should look to its own supposed violations of law before preaching to the postcolonial world over Russia’s invasion of Ukraine (“West should look at its own violation of the law”, Letters, March 31). Presumably these violations include the ousting of the ethnic cleansing despots of Serbia such

A security guard at the British embassy in Berlin accused of spying for Russia has been extradited from Germany to the UK to face charges. David Smith, a 57-year-old British national, who was arrested by German police on August 10 last year, arrived in the UK on Wednesday. He is accused of collecting information from

NHS leaders in several parts of England have temporarily scaled back services except for patients whose lives are in danger, as the number of people in hospital with coronavirus nears that of the first Omicron peak. The South Central Ambulance Service (SCAS), which operates across six counties surrounding London, announced early on Wednesday that it

Passengers know it is risky to take money from an airline to skip an overbooked flight. The next departure could be delayed or cancelled. The intervention of JetBlue in the merger of Frontier Airlines and Spirit Airlines confronts shareholders of the latter with the same dilemma. In February, Spirit agreed to merge with Frontier in

France’s presidential election is turning out to be a tight and unpredictable contest. The far-right Marine Le Pen is gaining ground on President Emmanuel Macron, who last month seemed assured of re-election. Financial markets are waking up to the possibility of a stupendous upset in the election’s second round on April 24. The spread between

Hungary is prepared to meet Moscow’s demands for Russian gas to be paid for in roubles, Viktor Orban has said in a challenge to the EU’s rejection of Vladimir Putin’s attempts to shift the terms of energy contracts. The Hungarian prime minister, who won a fourth consecutive term in office in Sunday’s landslide election victory,

Good evening, Two Financial Times reports from opposite sides of the world highlight the severe stresses on global food production from the shock of coronavirus followed by the war in Ukraine. In China, strict Covid lockdowns are exacerbating shortages of fertiliser, labour and seeds just ahead of the crucial spring planting season. Particularly badly affected