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<div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-04T17:01:29.854Z">Friday, 4 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="75ba3055-625c-4cb5-894b-0696a38f5e79" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small js-teaser" data-id="75ba3055-625c-4cb5-894b-0696a38f5e79"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/banking-savings" aria-label="Category: Banking & Savings">Banking & Savings</a></div><div class="o-teaser__heading"><a href="/content/75ba3055-625c-4cb5-894b-0696a38f5e79" data-trackable="heading-link" class="js-teaser-heading-link">Latest Isa rates</a></div><p class="o-teaser__standfirst"><a href="/content/75ba3055-625c-4cb5-894b-0696a38f5e79" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Up-to-date tax-efficient 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not without risks</a></div><p class="o-teaser__standfirst"><a href="/content/f49f1c49-9d68-48dd-92b6-4d5004230fe2" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Sideways approach to investing can help spread the risk</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="f49f1c49-9d68-48dd-92b6-4d5004230fe2" data-myft-ui="saved" action="/myft/save/f49f1c49-9d68-48dd-92b6-4d5004230fe2" data-js-action="/__myft/api/core/saved/content/f49f1c49-9d68-48dd-92b6-4d5004230fe2?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Stockpickers: ‘Picks-and-shovel’ 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data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fc074017a-1ea1-4c8f-9874-73b04c75c704.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-04T17:00:36.900Z">Friday, 4 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="8ce7df68-c542-4410-ba2b-580974f80bc8" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="8ce7df68-c542-4410-ba2b-580974f80bc8"><div class="o-teaser__content"><div class="o-teaser__meta"></div><div class="o-teaser__heading"><a href="/content/8ce7df68-c542-4410-ba2b-580974f80bc8" data-trackable="heading-link" class="js-teaser-heading-link">Directors’ Deals: Energean boss backs his own growth strategy</a></div><p class="o-teaser__standfirst"><a href="/content/8ce7df68-c542-4410-ba2b-580974f80bc8" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Board members buy in after cancellation of assets sale </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="8ce7df68-c542-4410-ba2b-580974f80bc8" data-myft-ui="saved" action="/myft/save/8ce7df68-c542-4410-ba2b-580974f80bc8" data-js-action="/__myft/api/core/saved/content/8ce7df68-c542-4410-ba2b-580974f80bc8?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" 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data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fd152268e-ac9f-4963-9123-7a51966117ee.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Drilling for oil and gas off the coast of Israel"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-04T10:20:01.611Z">Friday, 4 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="8da9067a-36c3-4648-9f5f-d81214794c87" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="8da9067a-36c3-4648-9f5f-d81214794c87"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Skin in the Game</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stuart-kirk" aria-label="Category: Stuart Kirk">Stuart Kirk</a></div><div class="o-teaser__heading"><a href="/content/8da9067a-36c3-4648-9f5f-d81214794c87" data-trackable="heading-link" class="js-teaser-heading-link">Sir Keir will love me, I’m doubling down on UK equities</a></div><p class="o-teaser__standfirst"><a href="/content/8da9067a-36c3-4648-9f5f-d81214794c87" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">It’s finally time to add small-caps to my FTSE 100 exposure </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="8da9067a-36c3-4648-9f5f-d81214794c87" data-myft-ui="saved" action="/myft/save/8da9067a-36c3-4648-9f5f-d81214794c87" data-js-action="/__myft/api/core/saved/content/8da9067a-36c3-4648-9f5f-d81214794c87?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div 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data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-04T04:00:32.743Z">Friday, 4 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="7509bb11-2fdd-4b1a-9259-4de60f81f19e" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="7509bb11-2fdd-4b1a-9259-4de60f81f19e"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/due-diligence" aria-label="Category: Due Diligence">Due Diligence</a></div><div class="o-teaser__heading"><a href="/content/7509bb11-2fdd-4b1a-9259-4de60f81f19e" data-trackable="heading-link" class="js-teaser-heading-link">Tariffs hit Wall Street — hard</a><span> <span class="o-labels o-labels--premium o-labels--content-premium">Premium</span><span class="o-normalise-visually-hidden"> content</span></span></div><p class="o-teaser__standfirst"><a href="/content/7509bb11-2fdd-4b1a-9259-4de60f81f19e" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Plus, market volatility snags a debt refinancing by Vista Equity Partners and start-up Plaid suffers a big valuation drop</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="7509bb11-2fdd-4b1a-9259-4de60f81f19e" data-myft-ui="saved" action="/myft/save/7509bb11-2fdd-4b1a-9259-4de60f81f19e" data-js-action="/__myft/api/core/saved/content/7509bb11-2fdd-4b1a-9259-4de60f81f19e?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" 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data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fc65c4128-416b-4a5f-905b-938dd912cb12.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Traders work on the floor of the New York Stock Exchange"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-04T04:00:32.711Z">Friday, 4 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="159f610a-ada5-4f69-b37a-a3d988dc613d" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="159f610a-ada5-4f69-b37a-a3d988dc613d"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/16467d92-aef7-43f1-a843-d3de1b94c59f" aria-label="Category: PwC">PwC</a></div><div class="o-teaser__heading"><a href="/content/159f610a-ada5-4f69-b37a-a3d988dc613d" data-trackable="heading-link" class="js-teaser-heading-link">PwC China plans to spin off cyber security arm</a></div><p class="o-teaser__standfirst"><a href="/content/159f610a-ada5-4f69-b37a-a3d988dc613d" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Partner-led buyout would improve liquidity and mark strategic pivot away from consulting</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="159f610a-ada5-4f69-b37a-a3d988dc613d" data-myft-ui="saved" action="/myft/save/159f610a-ada5-4f69-b37a-a3d988dc613d" data-js-action="/__myft/api/core/saved/content/159f610a-ada5-4f69-b37a-a3d988dc613d?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div 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class="o-teaser__image-placeholder" style="padding-bottom:56.2088%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Ff8a6c253-274a-450c-9db9-5fa792816c1e.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Exterior of the PwC building in Shanghai, with several people walking past the entrance and some wearing masks. The building's signage includes the PwC logo and its Chinese name"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-04T04:00:32.682Z">Friday, 4 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="c5648017-2357-4dc1-a33b-809bd8561275" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="c5648017-2357-4dc1-a33b-809bd8561275"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Markets Insight</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/bbc40efc-c883-4add-b850-8caa6a85f446" aria-label="Category: Ian Harnett">Ian Harnett</a></div><div class="o-teaser__heading"><a href="/content/c5648017-2357-4dc1-a33b-809bd8561275" data-trackable="heading-link" class="js-teaser-heading-link">How ‘weaponised trade’ could lead to ‘weaponised capital’</a></div><p class="o-teaser__standfirst"><a href="/content/c5648017-2357-4dc1-a33b-809bd8561275" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">As international structures that promoted free trade are unwound, there is a rising risk of a return to capital controls</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="c5648017-2357-4dc1-a33b-809bd8561275" data-myft-ui="saved" action="/myft/save/c5648017-2357-4dc1-a33b-809bd8561275" data-js-action="/__myft/api/core/saved/content/c5648017-2357-4dc1-a33b-809bd8561275?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save How ‘weaponised trade’ could lead to ‘weaponised capital’ to myFT for later" aria-label="Save How ‘weaponised trade’ could lead to ‘weaponised capital’ to myFT for later" data-alternate-label="How ‘weaponised trade’ could lead to ‘weaponised capital’ is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="c5648017-2357-4dc1-a33b-809bd8561275" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/c5648017-2357-4dc1-a33b-809bd8561275" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2445%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F254d14af-a617-42a3-97f7-71360fa72b70.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="A trader runs across the floor of the New York Stock Exchange as it opens on the morning after US President Donald Trump’s latest tariff announcement"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-03T21:00:32.155Z">Thursday, 3 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="860d4129-f9dc-4a21-bdef-02efcd3978ba" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="860d4129-f9dc-4a21-bdef-02efcd3978ba"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/financial-services" aria-label="Category: Financial services">Financial services</a></div><div class="o-teaser__heading"><a href="/content/860d4129-f9dc-4a21-bdef-02efcd3978ba" data-trackable="heading-link" class="js-teaser-heading-link">Shares of Wall Street firms rocked by new US tariff regime </a></div><p class="o-teaser__standfirst"><a href="/content/860d4129-f9dc-4a21-bdef-02efcd3978ba" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Financiers thought Trump would usher in a pro-business era but financial stocks have stumbled as tariff plans became clear </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="860d4129-f9dc-4a21-bdef-02efcd3978ba" data-myft-ui="saved" action="/myft/save/860d4129-f9dc-4a21-bdef-02efcd3978ba" data-js-action="/__myft/api/core/saved/content/860d4129-f9dc-4a21-bdef-02efcd3978ba?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Shares of Wall Street firms rocked by new US tariff regime to myFT for later" aria-label="Save Shares of Wall Street firms rocked by new US tariff regime to myFT for later" data-alternate-label="Shares of Wall Street firms rocked by new US tariff regime is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="860d4129-f9dc-4a21-bdef-02efcd3978ba" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/860d4129-f9dc-4a21-bdef-02efcd3978ba" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2445%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fc2c31cb0-cedf-4247-a220-03841cd801fa.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Stock tickers on a screen"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-stream-item> <div class="o-teaser o-teaser--native-ad o-teaser--small o-teaser--stream-card" data-o-ads-name="PartnerContent--horizontal" data-o-ads-targeting="pos=native;format=horizontal" data-o-ads-formats="PartnerContent" data-o-ads-component="slot" ></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-03T12:15:57.399Z">Thursday, 3 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="9980a4d8-dad5-4627-ba6d-df1be0c25ea5" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="9980a4d8-dad5-4627-ba6d-df1be0c25ea5"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/leveraged-loans" aria-label="Category: Leveraged loans">Leveraged loans</a></div><div class="o-teaser__heading"><a href="/content/9980a4d8-dad5-4627-ba6d-df1be0c25ea5" data-trackable="heading-link" class="js-teaser-heading-link">Finastra refinance effort stalls as US sell-off pressures hit loan market </a></div><p class="o-teaser__standfirst"><a href="/content/9980a4d8-dad5-4627-ba6d-df1be0c25ea5" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Company owned by Vista Equity Partners had been seeking to pay down big private credit debt</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="9980a4d8-dad5-4627-ba6d-df1be0c25ea5" data-myft-ui="saved" action="/myft/save/9980a4d8-dad5-4627-ba6d-df1be0c25ea5" data-js-action="/__myft/api/core/saved/content/9980a4d8-dad5-4627-ba6d-df1be0c25ea5?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save 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data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F1fa4bb68-1bea-4ad0-ae4c-a9c87d3a9c2c.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-03T08:08:06.822Z">Thursday, 3 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="39b76813-27ef-440c-98a5-f73279cb5a14" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="39b76813-27ef-440c-98a5-f73279cb5a14"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/property-sector" aria-label="Category: Property sector">Property sector</a></div><div class="o-teaser__heading"><a href="/content/39b76813-27ef-440c-98a5-f73279cb5a14" data-trackable="heading-link" class="js-teaser-heading-link">NHS landlord attracts £1.5bn counter offer from rival </a></div><p class="o-teaser__standfirst"><a href="/content/39b76813-27ef-440c-98a5-f73279cb5a14" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Primary Health Properties aims to beat KKR-led investors despite lower-value bid </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="39b76813-27ef-440c-98a5-f73279cb5a14" data-myft-ui="saved" action="/myft/save/39b76813-27ef-440c-98a5-f73279cb5a14" data-js-action="/__myft/api/core/saved/content/39b76813-27ef-440c-98a5-f73279cb5a14?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in 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data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F5cc4813b-4cc3-42b4-8c65-bb8c79d38423.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="A doctor checks a patient’s blood pressure at a health centre in London, England"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-stream-item> <div class="o-ads o-ads advert advert--instream" data-o-ads-targeting="pos=mid;" data-o-ads-center="true" data-o-ads-label="false" data-o-ads-formats-small="MediumRectangle,Responsive,OneByOne" data-o-ads-formats-medium="MediumRectangle,Responsive,OneByOne" data-o-ads-formats-large="false" data-o-ads-formats-extra="false" aria-hidden="true"> </div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-03T04:00:50.118Z">Thursday, 3 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="1d539539-75ec-4c5e-9cbf-4388bb3a7448" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="1d539539-75ec-4c5e-9cbf-4388bb3a7448"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/due-diligence" aria-label="Category: Due Diligence">Due Diligence</a></div><div class="o-teaser__heading"><a href="/content/1d539539-75ec-4c5e-9cbf-4388bb3a7448" data-trackable="heading-link" class="js-teaser-heading-link">TikTok’s potential Wall Street owners</a><span> <span class="o-labels o-labels--premium o-labels--content-premium">Premium</span><span class="o-normalise-visually-hidden"> content</span></span></div><p class="o-teaser__standfirst"><a href="/content/1d539539-75ec-4c5e-9cbf-4388bb3a7448" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Plus, private equity groups push to change part of the UK’s proposed carried interest tax and British conglomerate Jardine Matheson begins a new era</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="1d539539-75ec-4c5e-9cbf-4388bb3a7448" data-myft-ui="saved" action="/myft/save/1d539539-75ec-4c5e-9cbf-4388bb3a7448" data-js-action="/__myft/api/core/saved/content/1d539539-75ec-4c5e-9cbf-4388bb3a7448?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save 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its office"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-03T04:00:50.108Z">Thursday, 3 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="aefb8b77-d908-4eba-9670-99e5b374dae4" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="aefb8b77-d908-4eba-9670-99e5b374dae4"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">News in-depth</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/uk-tax" aria-label="Category: UK tax">UK tax</a></div><div class="o-teaser__heading"><a href="/content/aefb8b77-d908-4eba-9670-99e5b374dae4" data-trackable="heading-link" class="js-teaser-heading-link">Private equity firms urge UK to rethink carried interest tax change</a></div><p class="o-teaser__standfirst"><a href="/content/aefb8b77-d908-4eba-9670-99e5b374dae4" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Blackstone, KKR and EQT among buyout groups raising concerns over government reforms</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="aefb8b77-d908-4eba-9670-99e5b374dae4" data-myft-ui="saved" action="/myft/save/aefb8b77-d908-4eba-9670-99e5b374dae4" data-js-action="/__myft/api/core/saved/content/aefb8b77-d908-4eba-9670-99e5b374dae4?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" 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data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F1ad83364-99c6-4d12-84c2-55eaea581d40.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-03T04:00:50.071Z">Thursday, 3 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="7f38e24b-4947-4806-a88b-51aa0ae231b3" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="7f38e24b-4947-4806-a88b-51aa0ae231b3"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Markets Insight</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/c333d6b9-c4f8-3954-b340-2ac83de751b2" aria-label="Category: David Booth">David Booth</a></div><div class="o-teaser__heading"><a href="/content/7f38e24b-4947-4806-a88b-51aa0ae231b3" data-trackable="heading-link" class="js-teaser-heading-link">In shaky times, investors should hold their nerve </a></div><p class="o-teaser__standfirst"><a href="/content/7f38e24b-4947-4806-a88b-51aa0ae231b3" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Trying to time the market can risk missing out on critical days that boost returns</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="7f38e24b-4947-4806-a88b-51aa0ae231b3" data-myft-ui="saved" action="/myft/save/7f38e24b-4947-4806-a88b-51aa0ae231b3" data-js-action="/__myft/api/core/saved/content/7f38e24b-4947-4806-a88b-51aa0ae231b3?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div 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class="o-teaser__image-placeholder" style="padding-bottom:56.2391%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Ff5a3b1b4-404d-4ae1-920e-2c1492674ce5.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="A trader facing screens puts his hands on his head at the New York Stock Exchange in 2008"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-02T23:01:49.224Z">Wednesday, 2 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="08c7f439-ab24-44d7-ab24-523227fa093e" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="08c7f439-ab24-44d7-ab24-523227fa093e"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/robin-harding" aria-label="Category: Robin Harding">Robin Harding</a></div><div class="o-teaser__heading"><a href="/content/08c7f439-ab24-44d7-ab24-523227fa093e" data-trackable="heading-link" class="js-teaser-heading-link">The rise of the trophy SWF</a></div><p class="o-teaser__standfirst"><a href="/content/08c7f439-ab24-44d7-ab24-523227fa093e" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Everybody wants sovereignty. Everybody wants wealth. Yet a fund is not, sadly, a reliable route to their creation</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="08c7f439-ab24-44d7-ab24-523227fa093e" data-myft-ui="saved" action="/myft/save/08c7f439-ab24-44d7-ab24-523227fa093e" data-js-action="/__myft/api/core/saved/content/08c7f439-ab24-44d7-ab24-523227fa093e?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save The rise of the trophy SWF to myFT for later" aria-label="Save The rise of the trophy SWF to myFT for later" data-alternate-label="The rise of the trophy SWF is Saved to myFT" aria-pressed="false" 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class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-02T20:02:09.609Z">Wednesday, 2 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="025e4d33-fdcd-4f0b-8dcc-55396de3078e" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="025e4d33-fdcd-4f0b-8dcc-55396de3078e"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/7eaacbc8-e87d-40fa-9a6a-855b8fc41aa2" aria-label="Category: TikTok Inc">TikTok Inc</a></div><div class="o-teaser__heading"><a href="/content/025e4d33-fdcd-4f0b-8dcc-55396de3078e" data-trackable="heading-link" class="js-teaser-heading-link">White House close to approving sale of TikTok’s US unit to investors</a></div><p class="o-teaser__standfirst"><a href="/content/025e4d33-fdcd-4f0b-8dcc-55396de3078e" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Blackstone and Andreessen Horowitz among firms poised to wrest control of social media site from China’s ByteDance </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="025e4d33-fdcd-4f0b-8dcc-55396de3078e" data-myft-ui="saved" action="/myft/save/025e4d33-fdcd-4f0b-8dcc-55396de3078e" data-js-action="/__myft/api/core/saved/content/025e4d33-fdcd-4f0b-8dcc-55396de3078e?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save White House close to approving sale of TikTok’s US unit to investors to myFT for later" 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app logo"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-stream-item> <div class="o-ads o-ads advert advert--instream" data-o-ads-targeting="pos=mid1;" data-o-ads-center="true" data-o-ads-label="false" data-o-ads-formats-small="MediumRectangle,Responsive,OneByOne" data-o-ads-formats-medium="MediumRectangle,Responsive,OneByOne" data-o-ads-formats-large="false" data-o-ads-formats-extra="false" aria-hidden="true"> </div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-02T19:44:07.797Z">Wednesday, 2 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="d8457689-4fa9-483a-bfea-d2bf7824735e" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="d8457689-4fa9-483a-bfea-d2bf7824735e"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/0372179e-8f26-4dbb-bb2b-f2f05825d0fe" aria-label="Category: Brookfield Corporation">Brookfield Corporation</a></div><div class="o-teaser__heading"><a href="/content/d8457689-4fa9-483a-bfea-d2bf7824735e" data-trackable="heading-link" class="js-teaser-heading-link">Brookfield to buy laboratory equipment group Antylia Scientific for $1.4bn</a></div><p class="o-teaser__standfirst"><a href="/content/d8457689-4fa9-483a-bfea-d2bf7824735e" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Deal is latest sign of the uptick in exits by private equity groups despite sluggish M&A activity</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" 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data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-02T12:30:13.052Z">Wednesday, 2 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="5104889e-3e20-44fd-9d24-966add0ac64c" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="5104889e-3e20-44fd-9d24-966add0ac64c"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/greenwashing" aria-label="Category: Greenwashing">Greenwashing</a></div><div class="o-teaser__heading"><a href="/content/5104889e-3e20-44fd-9d24-966add0ac64c" data-trackable="heading-link" class="js-teaser-heading-link">Deutsche Bank’s asset manager fined €25mn over greenwashing scandal </a></div><p class="o-teaser__standfirst"><a href="/content/5104889e-3e20-44fd-9d24-966add0ac64c" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Penalty against DWS imposed by German prosecutors follows $19mn settlement with US authorities in 2023</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="5104889e-3e20-44fd-9d24-966add0ac64c" data-myft-ui="saved" action="/myft/save/5104889e-3e20-44fd-9d24-966add0ac64c" data-js-action="/__myft/api/core/saved/content/5104889e-3e20-44fd-9d24-966add0ac64c?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Deutsche Bank’s asset manager fined €25mn over greenwashing scandal to myFT for later" aria-label="Save Deutsche Bank’s asset manager fined €25mn 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towers"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-02T05:40:04.949Z">Wednesday, 2 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="f08711bb-8880-4dec-81ea-f52370592408" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="f08711bb-8880-4dec-81ea-f52370592408"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/asset-allocation" aria-label="Category: Asset allocation">Asset allocation</a></div><div class="o-teaser__heading"><a href="/content/f08711bb-8880-4dec-81ea-f52370592408" data-trackable="heading-link" class="js-teaser-heading-link">The hidden cost of predictable investment rebalancing </a></div><p class="o-teaser__standfirst"><a href="/content/f08711bb-8880-4dec-81ea-f52370592408" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Those basis points add up</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="f08711bb-8880-4dec-81ea-f52370592408" data-myft-ui="saved" action="/myft/save/f08711bb-8880-4dec-81ea-f52370592408" data-js-action="/__myft/api/core/saved/content/f08711bb-8880-4dec-81ea-f52370592408?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save The hidden cost of predictable investment rebalancing to myFT for later" 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</li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-01T23:11:06.843Z">Tuesday, 1 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="f88f61aa-164d-420f-9a77-d1a4facc4638" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="f88f61aa-164d-420f-9a77-d1a4facc4638"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/7eaacbc8-e87d-40fa-9a6a-855b8fc41aa2" aria-label="Category: TikTok Inc">TikTok Inc</a></div><div class="o-teaser__heading"><a href="/content/f88f61aa-164d-420f-9a77-d1a4facc4638" data-trackable="heading-link" class="js-teaser-heading-link">Andreessen Horowitz in talks to help buy out TikTok’s Chinese owners</a></div><p class="o-teaser__standfirst"><a href="/content/f88f61aa-164d-420f-9a77-d1a4facc4638" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Venture capital group could join last-gasp bid by allies of Donald Trump to take control of video app owned by ByteDance</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="f88f61aa-164d-420f-9a77-d1a4facc4638" data-myft-ui="saved" action="/myft/save/f88f61aa-164d-420f-9a77-d1a4facc4638" data-js-action="/__myft/api/core/saved/content/f88f61aa-164d-420f-9a77-d1a4facc4638?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Andreessen Horowitz in talks to help buy out TikTok’s Chinese owners to myFT for later" aria-label="Save Andreessen Horowitz in talks to help buy out TikTok’s Chinese owners to myFT for later" data-alternate-label="Andreessen Horowitz in talks to help buy out TikTok’s Chinese owners is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="f88f61aa-164d-420f-9a77-d1a4facc4638" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/f88f61aa-164d-420f-9a77-d1a4facc4638" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2254%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fa2b96b01-3c66-47e4-8450-d544f1b698d0.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Marc Andreessen"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-01T10:00:48.541Z">Tuesday, 1 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="f2d0d307-6b7a-4c4b-82c5-a95f0e30fb82" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="f2d0d307-6b7a-4c4b-82c5-a95f0e30fb82"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/telecoms" aria-label="Category: Telecoms">Telecoms</a></div><div class="o-teaser__heading"><a href="/content/f2d0d307-6b7a-4c4b-82c5-a95f0e30fb82" data-trackable="heading-link" class="js-teaser-heading-link">Spain’s €20bn telecoms group MasOrange explores IPO</a></div><p class="o-teaser__standfirst"><a href="/content/f2d0d307-6b7a-4c4b-82c5-a95f0e30fb82" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Listing would provide momentum to Europe’s IPO market</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="f2d0d307-6b7a-4c4b-82c5-a95f0e30fb82" data-myft-ui="saved" action="/myft/save/f2d0d307-6b7a-4c4b-82c5-a95f0e30fb82" data-js-action="/__myft/api/core/saved/content/f2d0d307-6b7a-4c4b-82c5-a95f0e30fb82?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Spain’s €20bn telecoms group MasOrange explores IPO to myFT for later" aria-label="Save Spain’s €20bn telecoms group MasOrange explores IPO to myFT for later" data-alternate-label="Spain’s €20bn telecoms group MasOrange explores IPO is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="f2d0d307-6b7a-4c4b-82c5-a95f0e30fb82" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/f2d0d307-6b7a-4c4b-82c5-a95f0e30fb82" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2705%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fc27d5fae-2c9c-4ef2-a649-b9809fd73118.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="The front of the MasOrange headquarters in Madrid"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-01T06:35:50.448Z">Tuesday, 1 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="3d29eaff-8e94-48ee-8ff0-08ee20a94d57" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="3d29eaff-8e94-48ee-8ff0-08ee20a94d57"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/investing-in-funds" aria-label="Category: Investing in funds">Investing in funds</a></div><div class="o-teaser__heading"><a href="/content/3d29eaff-8e94-48ee-8ff0-08ee20a94d57" data-trackable="heading-link" class="js-teaser-heading-link">The death of the Yale Model?</a></div><p class="o-teaser__standfirst"><a href="/content/3d29eaff-8e94-48ee-8ff0-08ee20a94d57" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Alternative tales of investment returns</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="3d29eaff-8e94-48ee-8ff0-08ee20a94d57" data-myft-ui="saved" action="/myft/save/3d29eaff-8e94-48ee-8ff0-08ee20a94d57" data-js-action="/__myft/api/core/saved/content/3d29eaff-8e94-48ee-8ff0-08ee20a94d57?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save The death of the Yale Model? to myFT for later" aria-label="Save The death of the Yale Model? to myFT for later" data-alternate-label="The death of the Yale Model? is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="3d29eaff-8e94-48ee-8ff0-08ee20a94d57" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/3d29eaff-8e94-48ee-8ff0-08ee20a94d57" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2821%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F280fc57a-bed3-4383-bc7a-c179b15330e3.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-01T04:48:51.749Z">Tuesday, 1 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="b94313f1-7a4d-47da-acfa-aad5a2b1d2c9" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="b94313f1-7a4d-47da-acfa-aad5a2b1d2c9"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Interview</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/indonesia" aria-label="Category: Indonesia">Indonesia</a></div><div class="o-teaser__heading"><a href="/content/b94313f1-7a4d-47da-acfa-aad5a2b1d2c9" data-trackable="heading-link" class="js-teaser-heading-link">Indonesia’s new sovereign wealth fund vows transparency ‘like a public company’</a></div><p class="o-teaser__standfirst"><a href="/content/b94313f1-7a4d-47da-acfa-aad5a2b1d2c9" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Danantara has been dogged by questions over governance and political interference</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="b94313f1-7a4d-47da-acfa-aad5a2b1d2c9" data-myft-ui="saved" action="/myft/save/b94313f1-7a4d-47da-acfa-aad5a2b1d2c9" data-js-action="/__myft/api/core/saved/content/b94313f1-7a4d-47da-acfa-aad5a2b1d2c9?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Indonesia’s new sovereign wealth fund vows transparency ‘like a public company’ to myFT for later" aria-label="Save Indonesia’s new sovereign wealth fund vows transparency ‘like a public company’ to myFT for later" data-alternate-label="Indonesia’s new sovereign wealth fund vows transparency ‘like a public company’ is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="b94313f1-7a4d-47da-acfa-aad5a2b1d2c9" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/b94313f1-7a4d-47da-acfa-aad5a2b1d2c9" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2445%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F24b43093-a211-4c4a-8a70-4d79797932f5.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Pandu Sjahrir, Danantara’s chief investment officer"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-01T04:00:48.638Z">Tuesday, 1 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="6465b1de-d476-4920-94ce-849d93116233" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="6465b1de-d476-4920-94ce-849d93116233"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/etf-stream" aria-label="Category: Exchange traded funds">Exchange traded funds</a></div><div class="o-teaser__heading"><a href="/content/6465b1de-d476-4920-94ce-849d93116233" data-trackable="heading-link" class="js-teaser-heading-link">First cat bond ETF opens new frontier in low-correlation returns</a></div><p class="o-teaser__standfirst"><a href="/content/6465b1de-d476-4920-94ce-849d93116233" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Catastrophe bonds linked to randomly occurring natural disasters were previously considered too illiquid for ETFs</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="6465b1de-d476-4920-94ce-849d93116233" data-myft-ui="saved" action="/myft/save/6465b1de-d476-4920-94ce-849d93116233" data-js-action="/__myft/api/core/saved/content/6465b1de-d476-4920-94ce-849d93116233?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save First cat bond ETF opens new frontier in low-correlation returns to myFT for later" aria-label="Save First cat bond ETF opens new frontier in low-correlation returns to myFT for later" data-alternate-label="First cat bond ETF opens new frontier in low-correlation returns is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="6465b1de-d476-4920-94ce-849d93116233" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/6465b1de-d476-4920-94ce-849d93116233" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2581%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fd281bbf5-c1c8-4193-9b62-7cee351d480a.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-01T04:00:48.518Z">Tuesday, 1 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="1604b4f5-2909-4adf-a173-4fde9dc61f7a" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="1604b4f5-2909-4adf-a173-4fde9dc61f7a"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Markets Insight</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/c929b44b-63a9-4d37-86b6-bf26f9c3965b" aria-label="Category: Eric Pan">Eric Pan</a></div><div class="o-teaser__heading"><a href="/content/1604b4f5-2909-4adf-a173-4fde9dc61f7a" data-trackable="heading-link" class="js-teaser-heading-link">Under Trump, the SEC should open up private markets to retail investors</a></div><p class="o-teaser__standfirst"><a href="/content/1604b4f5-2909-4adf-a173-4fde9dc61f7a" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Regulated funds are the natural bridge to allow individuals greater access </a></p><div 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o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/europe" data-trackable="Europe">Europe</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/war-in-ukraine" data-trackable="War in Ukraine">War in Ukraine</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/americas" data-trackable="Americas">Americas</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/middle-east-north-africa" data-trackable="Middle East & North Africa">Middle East & North Africa</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/us" data-trackable="US">US</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-2" data-trackable="sub-level-toggle | US">Show more US</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-2" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/us-economy" data-trackable="US Economy">US Economy</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/us-companies" data-trackable="US Companies">US Companies</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/us-politics-policy" data-trackable="US Politics & Policy">US Politics & Policy</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/companies" data-trackable="Companies">Companies</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-3" data-trackable="sub-level-toggle | Companies">Show more Companies</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-3" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/energy" data-trackable="Energy">Energy</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/financials" data-trackable="Financials">Financials</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/health" data-trackable="Health">Health</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/industrials" data-trackable="Industrials">Industrials</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/media" data-trackable="Media">Media</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/professional-services" data-trackable="Professional Services">Professional Services</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/retail-consumer" data-trackable="Retail & Consumer">Retail & Consumer</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/technology-sector" data-trackable="Tech Sector">Tech Sector</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/telecoms" data-trackable="Telecoms">Telecoms</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/transport" data-trackable="Transport">Transport</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/technology" data-trackable="Tech">Tech</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-4" data-trackable="sub-level-toggle | Tech">Show more Tech</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-4" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/artificial-intelligence" data-trackable="Artificial intelligence">Artificial intelligence</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/semiconductors" data-trackable="Semiconductors">Semiconductors</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/cyber-security" data-trackable="Cyber Security">Cyber Security</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/social-media" data-trackable="Social Media">Social Media</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/markets" data-trackable="Markets">Markets</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-5" data-trackable="sub-level-toggle | Markets">Show more Markets</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-5" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/alphaville" data-trackable="Alphaville">Alphaville</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="https://markets.ft.com/data" data-trackable="Markets Data">Markets Data</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/crypto" data-trackable="Crypto">Crypto</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/capital-markets" data-trackable="Capital Markets">Capital Markets</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/commodities" data-trackable="Commodities">Commodities</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/currencies" data-trackable="Currencies">Currencies</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/equities" data-trackable="Equities">Equities</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="https://professional-monetary-policy-radar.ft.com/" data-trackable="Monetary Policy Radar">Monetary Policy Radar</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/ft-wealth-management" data-trackable="Wealth Management">Wealth Management</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/moral-money" data-trackable="Moral Money">Moral Money</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/etf-hub" data-trackable="ETF Hub">ETF Hub</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/fund-management" data-trackable="Fund Management">Fund Management</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/ft-trading-room" data-trackable="Trading">Trading</a></li></ul></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/climate-capital" data-trackable="Climate">Climate</a></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/opinion" data-trackable="Opinion">Opinion</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-7" data-trackable="sub-level-toggle | Opinion">Show more Opinion</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-7" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/columnists" data-trackable="Columnists">Columnists</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/ft-view" data-trackable="The FT View">The FT View</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/the-big-read" data-trackable="The Big Read">The Big Read</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/lex" data-trackable="Lex">Lex</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/obituaries" data-trackable="Obituaries">Obituaries</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/letters" data-trackable="Letters">Letters</a></li></ul></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/lex" data-trackable="Lex">Lex</a></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/work-careers" data-trackable="Work & Careers">Work & Careers</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-9" data-trackable="sub-level-toggle | Work & Careers">Show more Work & Careers</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-9" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="https://rankings.ft.com/business-education" data-trackable="Business School Rankings">Business School Rankings</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/business-education" data-trackable="Business Education">Business Education</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="https://rankings.ft.com/incubator-accelerator-programmes-europe" data-trackable="Europe's Start-Up Hubs">Europe's Start-Up Hubs</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/entrepreneurship" data-trackable="Entrepreneurship">Entrepreneurship</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/recruitment" data-trackable="Recruitment">Recruitment</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/business-books" data-trackable="Business Books">Business Books</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/business-travel" data-trackable="Business Travel">Business Travel</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/working-it" data-trackable="Working It">Working It</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/life-arts" data-trackable="Life & Arts">Life & Arts</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-10" data-trackable="sub-level-toggle | Life & Arts">Show more Life & Arts</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-10" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/arts" data-trackable="Arts">Arts</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/books" data-trackable="Books">Books</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/food-drink" data-trackable="Food & Drink">Food & Drink</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/magazine" data-trackable="FT Magazine">FT Magazine</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/house-home" data-trackable="House & Home">House & Home</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/style" data-trackable="Style">Style</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/puzzles-games" data-trackable="Puzzles">Puzzles</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/travel" data-trackable="Travel">Travel</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/globetrotter" data-trackable="FT Globetrotter">FT Globetrotter</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/personal-finance" data-trackable="Personal Finance">Personal Finance</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-11" data-trackable="sub-level-toggle | Personal Finance">Show more Personal Finance</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-11" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/mortgages" data-trackable="Property & Mortgages">Property & Mortgages</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--selected o-header__drawer-menu-link--child" href="/investments" data-trackable="Investments" aria-label="Investments, current page" aria-current="page">Investments</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/pensions" data-trackable="Pensions">Pensions</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/tax" data-trackable="Tax">Tax</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/banking-savings" data-trackable="Banking & Savings">Banking & Savings</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/advice-comment" data-trackable="Advice & Comment">Advice & Comment</a></li></ul></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/htsi" data-trackable="HTSI">HTSI</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/special-reports" data-trackable="Special Reports">Special Reports</a></li></ul><h2 id="ft-recommends" class="o-header__drawer-menu-item o-header__drawer-menu-item--heading">FT recommends</h2><ul aria-labelledby="ft-recommends" class="o-header__drawer-menu-list"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/alphaville" data-trackable="Alphaville">Alphaville</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/ft-edit" data-trackable="FT Edit">FT Edit</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/lunch-with-the-ft" data-trackable="Lunch with the FT">Lunch with the FT</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/globetrotter" data-trackable="FT Globetrotter">FT Globetrotter</a></li><li class="o-header__drawer-menu-item"><a 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