CINXE.COM

Financial Times

<!DOCTYPE html><html lang="en-GB" class="no-js core o-typography--loading-sans o-typography--loading-sans-bold o-typography--loading-display o-typography--loading-display-bold" data-o-component="o-typography" style="overflow-x:hidden;background-color:#fff1e5;color:#33302e"><head><meta charSet="utf-8"/><meta http-equiv="X-UA-Compatible" content="IE=edge"/><meta name="viewport" content="width=device-width, initial-scale=1"/><title>Financial Times</title><meta name="description" content="News, analysis and opinion from the Financial Times on the latest in markets, economics and politics"/><meta name="robots" content="index,follow,max-snippet:200,max-image-preview:large"/><meta name="google-site-verification" content="4-t8sFaPvpO5FH_Gnw1dkM28CQepjzo8UjjAkdDflTw"/><script type="application/ld+json">{"@context":"http://schema.org","@type":"WebSite","name":"Financial Times","alternateName":"FT.com","url":"http://www.ft.com"}</script><meta property="fb:pages" content="8860325749"/><meta property="twitter:site" content="@FinancialTimes"/><meta name="apple-itunes-app" content="app-id=1200842933"/><link rel="icon" type="image/svg+xml" href="https://www.ft.com/__origami/service/image/v2/images/raw/ftlogo-v1%3Abrand-ft-logo-square-coloured?source=update-logos&amp;format=svg"/><link rel="alternate icon" type="image/png" href="https://www.ft.com/__origami/service/image/v2/images/raw/ftlogo-v1%3Abrand-ft-logo-square-coloured?source=update-logos&amp;format=png&amp;width=32&amp;height=32" sizes="32x32"/><link rel="alternate icon" type="image/png" href="https://www.ft.com/__origami/service/image/v2/images/raw/ftlogo-v1%3Abrand-ft-logo-square-coloured?source=update-logos&amp;format=png&amp;width=194&amp;height=194" sizes="194x194"/><link rel="apple-touch-icon" href="https://www.ft.com/__origami/service/image/v2/images/raw/ftlogo-v1%3Abrand-ft-logo-square-coloured?source=update-logos&amp;format=png&amp;width=180&amp;height=180" sizes="180x180"/><link rel="manifest" href="https://www.ft.com/__assets/creatives/manifest/manifest-v6.json"/><link rel="alternate" type="application/rss+xml" href="https://www.ft.com/rss/home"/><link rel="alternate" type="application/rss+xml" href="https://www.ft.com/rss/home/international"/><link rel="preload" as="script" href="https://static.chartbeat.com/js/chartbeat_mab.js" type="application/javascript"/><link rel="preload" as="script" href="https://static.chartbeat.com/js/chartbeat.js" type="application/javascript"/><script id="chartbeat-script"> (function() { // Chartbeat script snippet function loadScript(src) { const script = document.createElement('script'); script.async = true; script.src = src; script.onerror = function(error) { console.warn(error) }; const last = document.scripts[document.scripts.length - 1]; last.parentNode.insertBefore(script, last); } try { const testing = new URL(location).searchParams.has('chartbeatTest') || false; window._sf_async_config = { uid: 14181, domain: testing ? 'testing.ft.com' : 'ft.com', title: 'FT.com home page international edition', useCanonical: false, useCanonicalDomain: false, path: 'www.ft.com/?edition=international', topStorageDomain: 'ft.com', loadLibrary: () => loadScript('https://static.chartbeat.com/js/chartbeat.js') }; loadScript('https://static.chartbeat.com/js/chartbeat_mab.js') } catch(error) { // clean up delete window._sf_async_config console.error(error) } })(); </script><link href="https://securepubads.g.doubleclick.net/tag/js/gpt.js" rel="preload" as="script" type="application/javascript"/><link href="https://consent-notice.ft.com/cmp.js" rel="preload" as="script" type="application/javascript"/><script id="third-party-bootstrap-config" type="application/json">[{"src":"https://securepubads.g.doubleclick.net/tag/js/gpt.js","async":true,"defer":false,"always":true,"enhanced":false,"core":false},{"src":"https://consent-notice.ft.com/cmp.js","async":true,"defer":false,"always":true,"enhanced":false,"core":false}]</script><script>;(function () { const isEnhanced = 'IntersectionObserver' in window && 'Promise' in window const scripts = getScriptsConfig() const status = {} let scriptsWaiting = 0 if (!scripts || !scripts.length) { return } scripts .filter(function (script) { return script.always || (isEnhanced && script.enhanced) || (!isEnhanced && script.core) }) .forEach(loadScript) function loadScript(config) { try { const script = document.createElement('script') script.onerror = onerror(config.src) script.onload = onload(config.src) script.async = config.async script.defer = config.defer if (config.referrerPolicy) { script.referrerPolicy = config.referrerPolicy } document.currentScript.parentNode.insertBefore(script, document.currentScript) script.src = config.src status[config.src] = null scriptsWaiting++ } catch (error) { console.error('Error creating script element for ' + config.src) // eslint-disable-line no-console } } function onload(script) { return function (event) { status[script] = true scriptsWaiting-- // if (!scriptsWaiting) { done() } } } function onerror(script) { return function (error) { status[script] = false scriptsWaiting-- console.error('The thirdparty script ' + script + ' failed to load') // eslint-disable-line no-console if (!scriptsWaiting) { done() } } } const timer = setTimeout(done, 10000) function done() { clearTimeout(timer) try { const errors = [] for (const key in status) { if (status.hasOwnProperty(key)) { if (!status[key]) { errors.push(key) } } } if (errors.length) { const img = new Image() const data = JSON.stringify({ category: 'javascript', action: 'load-error', system: { source: 'home-page', }, context: { scripts: errors, }, }) img.src = 'https://spoor-api.ft.com/px.gif?data=' + encodeURIComponent(data) } } catch (e) { console.error('Problem sending error report') } } function getScriptsConfig() { try { return JSON.parse(document.getElementById('third-party-bootstrap-config').textContent) || [] } catch (error) { console.error('Error rehydrating third-party-bootstrap-config', error) // eslint-disable-line no-console } return [] } })();</script><script> !function(e,n,t,i,o,r){function c(e){if("number"!=typeof e)return e;var n=new Date;return new Date(n.getTime()+1e3*e)}var a=4e3,s="xnpe_async_hide";function p(e){return e.reduce((function(e,n){return e[n]=function(){e._.push([n.toString(),arguments])},e}),{_:[]})}function m(e,n,t){var i=t.createElement(n);i.src=e;var o=t.getElementsByTagName(n)[0];return o.parentNode.insertBefore(i,o),i}function u(e){return"[object Date]"===Object.prototype.toString.call(e)}r.target=r.target,r.file_path=r.file_path||r.target+"/js/exponea.min.js",o[n]=p(["anonymize","initialize","identify","update","track","trackLink","trackEnhancedEcommerce","getHtml","showHtml","showBanner","showWebLayer","ping","getAbTest","loadDependency","getRecommendation","reloadWebLayers"]),o[n].notifications=p(["isAvailable","isSubscribed","subscribe","unsubscribe"]),o[n]["snippetVersion"]="v2.3.0",function(e,n,t){e[n]["_"+t]={},e[n]["_"+t].nowFn=Date.now,e[n]["_"+t].snippetStartTime=e[n]["_"+t].nowFn()}(o,n,"performance"),function(e,n,t,i,o,r){e[o]={sdk:e[i],sdkObjectName:i,skipExperiments:!!t.new_experiments,sign:t.token+"/"+(r.exec(n.cookie)||["","new"])[1],path:t.target}}(o,e,r,n,i,RegExp("__exponea_etc__"+"=([\w-]+)")),function(e,n,t){m(e.file_path,n,t)}(r,t,e),function(e,n,t,i,o,r,p){if(e.new_experiments){!0===e.new_experiments&&(e.new_experiments={});var f,l=e.new_experiments.hide_class||s,_=e.new_experiments.timeout||a,d=encodeURIComponent(r.location.href.split("#")[0]);e.cookies&&e.cookies.expires&&("number"==typeof e.cookies.expires||u(e.cookies.expires)?f=c(e.cookies.expires):e.cookies.expires.tracking&&("number"==typeof e.cookies.expires.tracking||u(e.cookies.expires.tracking))&&(f=c(e.cookies.expires.tracking))),f&&f<new Date&&(f=void 0);var x=e.target+"/webxp/"+n+"/"+r[t].sign+"/modifications.min.js?http-referer="+d+"&timeout="+_+"ms"+(f?"&cookie-expires="+Math.floor(f.getTime()/1e3):"");"sync"===e.new_experiments.mode&&r.localStorage.getItem("__exponea__sync_modifications__")?function(e,n,t,i,o){t[o][n]="<"+n+' src="'+e+'"></'+n+">",i.writeln(t[o][n]),i.writeln("<"+n+">!"+o+".init && document.writeln("+o+"."+n+'.replace("/'+n+'/", "/'+n+'-async/").replace("><", " async><"))</'+n+">")}(x,n,r,p,t):function(e,n,t,i,o,r,c,a){r.documentElement.classList.add(e);var s=m(t,i,r);function p(){o[a].init||m(t.replace("/"+i+"/","/"+i+"-async/"),i,r)}function u(){r.documentElement.classList.remove(e)}s.onload=p,s.onerror=p,o.setTimeout(u,n),o[c]._revealPage=u}(l,_,x,n,r,p,o,t)}}(r,t,i,0,n,o,e),function(e,n,t){e[n].start=function(i){i&&Object.keys(i).forEach((function(e){return t[e]=i[e]})),e[n].initialize(t)}}(o,n,r)}(document,"exponea","script","webxpClient",window,{ target: 'https://bloomreach.ft.com', token: 'd6e5bd4c-9228-11eb-a414-9a67e462410e', }); </script><link rel="preconnect" href="https://spoor-api.ft.com"/><link rel="preconnect" href="https://session-next.ft.com" crossorigin="use-credentials"/><link rel="preconnect" href="https://ads-api.ft.com"/><link rel="preconnect" href="https://securepubads.g.doubleclick.net"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/webpack-runtime.e95fdf411b11.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/page-kit-components.04d84cacb412.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-tracking.07957b144fb4.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-n-syndication.ea6b21a5f84d.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/shared.stable.ae5e8e7bc210.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-header.9a01b7e9fd99.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-viewport.2f3b3befc0ad.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-grid.f74f171098cc.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-utils.98fc7b2c5c0b.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/privacy-components.5b6be93f102b.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-expander.1284835aad36.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-footer.80a1922ff25b.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-message.840239b5f471.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-toggle.02e52d783748.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-tooltip.39a3ac0f7b82.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-n-tracking.e71d8e7157d9.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-banner.1f40bdc13c18.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-cookie-message.61b2497a161a.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-date.abcc02d7a200.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-typography.175c5da7e8ac.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/react.86664e97e11e.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/superstore.efa85c8c265d.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-n-exponea.cb6b079b5838.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-x-engine.ab24e1752fd8.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/preact.1e5ad5be00e3.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/scripts.ac06775d114d.bundle.js" type="application/javascript"/><link rel="preload" as="font" href="https://www.ft.com/__origami/service/build/v3/font?font_format=woff2&amp;font_name=MetricWeb-Regular&amp;system_code=origami&amp;version=1.12" type="font/woff2" crossorigin="anonymous"/><link rel="preload" as="font" href="https://www.ft.com/__origami/service/build/v3/font?font_format=woff2&amp;font_name=MetricWeb-Semibold&amp;system_code=origami&amp;version=1.12" type="font/woff2" crossorigin="anonymous"/><link rel="preload" as="font" href="https://www.ft.com/__origami/service/build/v3/font?font_format=woff2&amp;font_name=FinancierDisplayWeb-Regular&amp;system_code=origami&amp;version=1.12" type="font/woff2" crossorigin="anonymous"/><link rel="preload" as="font" href="https://www.ft.com/__origami/service/build/v3/font?font_format=woff2&amp;font_name=FinancierDisplayWeb-Bold&amp;system_code=origami&amp;version=1.12" type="font/woff2" crossorigin="anonymous"/><script id="initial-props" type="application/json"></script><link rel="stylesheet" href="https://www.ft.com/__assets/hashed/page-kit/vendors~page-kit-layout-styles.eb2ec173a1de.css"/><link rel="stylesheet" href="https://www.ft.com/__assets/hashed/page-kit/styles.563c5560a825.css"/><script type="application/json" id="page-kit-bootstrap-config">{"trackErrors":true,"core":[],"enhanced":["https://www.ft.com/__assets/hashed/page-kit/webpack-runtime.e95fdf411b11.bundle.js","https://www.ft.com/__assets/hashed/page-kit/page-kit-components.04d84cacb412.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-tracking.07957b144fb4.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-n-syndication.ea6b21a5f84d.bundle.js","https://www.ft.com/__assets/hashed/page-kit/shared.stable.ae5e8e7bc210.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-header.9a01b7e9fd99.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-viewport.2f3b3befc0ad.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-grid.f74f171098cc.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-utils.98fc7b2c5c0b.bundle.js","https://www.ft.com/__assets/hashed/page-kit/privacy-components.5b6be93f102b.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-expander.1284835aad36.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-footer.80a1922ff25b.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-message.840239b5f471.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-toggle.02e52d783748.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-tooltip.39a3ac0f7b82.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-n-tracking.e71d8e7157d9.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-banner.1f40bdc13c18.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-cookie-message.61b2497a161a.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-date.abcc02d7a200.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-typography.175c5da7e8ac.bundle.js","https://www.ft.com/__assets/hashed/page-kit/react.86664e97e11e.bundle.js","https://www.ft.com/__assets/hashed/page-kit/superstore.efa85c8c265d.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-n-exponea.cb6b079b5838.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-x-engine.ab24e1752fd8.bundle.js","https://www.ft.com/__assets/hashed/page-kit/preact.1e5ad5be00e3.bundle.js","https://www.ft.com/__assets/hashed/page-kit/scripts.ac06775d114d.bundle.js"]}</script><script>;(function () { var doc = document.documentElement var isEnhanced = isEnhancedBrowser() var scriptsConfig = getScriptsConfig() var scriptsToLoad = [] var currentScript = document.scripts[document.scripts.length - 1] doc.className = doc.className.replace('no-js', 'js') if (isEnhanced) { doc.className = doc.className.replace('core', 'enhanced') Array.prototype.push.apply(scriptsToLoad, scriptsConfig.enhanced) } else { Array.prototype.push.apply(scriptsToLoad, scriptsConfig.core) } for (var i = 0, len = scriptsToLoad.length; i < len; i++) { loadScript(scriptsToLoad[i]) } function scriptLoadError(error) { var script = error.target ? error.target.src : null if (script) { console.error('The script ' + script + ' failed to load') // eslint-disable-line no-console } if (/enhanced/.test(doc.className)) { console.warn('Script loading failed, reverting to core experience') // eslint-disable-line no-console doc.className = doc.className.replace('enhanced', 'core') } if (scriptsConfig.trackErrors) { addErrorTrackingPixel(script) } } function loadScript(src) { var script = document.createElement('script') script.onerror = scriptLoadError script.async = false script.src = src currentScript.parentNode.insertBefore(script, currentScript) } // "Cut the mustard" test // by Maggie Allen and Matt Hinchliffe November 2018 function isEnhancedBrowser() { var script = document.createElement('script') var input = document.createElement('input') return ( 'visibilityState' in document && // not supported by old Android (4.0-4.4) without a prefix 'indeterminate' in input && // not supported by BB 10 'flex' in doc.style && // not supported by old Safari (< 9) or IE 6-10 'async' in script // not supported by old Opera (Presto engine < 15) ) } function getScriptsConfig() { var scriptsConfigEl = document.getElementById('page-kit-bootstrap-config') var scriptsConfig = { core: [], enhanced: [], trackErrors: false } if (scriptsConfigEl) { try { scriptsConfig = JSON.parse(scriptsConfigEl.innerHTML) } catch (error) { console.error('Bootstrap configuration error', error) // eslint-disable-line no-console } } return scriptsConfig } function addErrorTrackingPixel(script) { var img = new Image() var data = JSON.stringify({ category: 'javascript', action: 'load-error', system: { source: 'page-kit' }, context: { script: script } }) img.src = 'https://spoor-api.ft.com/px.gif?data=' + encodeURIComponent(data) } })() </script><script>(function(w,d,s,l){ w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'}); var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:''; j.async=true; j.src='https://www.googletagmanager.com/gtm.js?id=GTM-NWQJW68'+dl; f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer');</script><script>(function loadCustomFonts() { var rootElement = document.documentElement; if (/(^|\s)o-typography-fonts-loaded=1(;|$)/.test(document.cookie)) { var fontLabels = ['sans', 'sans-bold', 'display', 'display-bold']; for (var i = 0; i < fontLabels.length; i++) { rootElement.className = rootElement.className.replace('o-typography--loading-' + fontLabels[i], ''); } } }());</script></head><body><noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-NWQJW68" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript><div class="n-layout"><a data-trackable="a11y-skip-to-help" class="n-layout__skip-link" href="https://www.ft.com/accessibility">Accessibility help</a><a data-trackable="a11y-skip-to-navigation" class="n-layout__skip-link" href="#site-navigation">Skip to navigation</a><a data-trackable="a11y-skip-to-content" class="n-layout__skip-link" href="#site-content">Skip to content</a><a data-trackable="a11y-skip-to-footer" class="n-layout__skip-link" href="#site-footer">Skip to footer</a><div class="n-layout__row n-layout__row--header"><div class="n-layout__header-before"><pg-slot data-config-key="top-desktop"></pg-slot><div class="markets-data-wrapper js-markets-data"><div class="o-grid-container"><div class="markets-data" data-trackable="header | markets data"><ul class="markets-data__items markets-data__items--hidden"></ul><a href="https://markets.ft.com/data" class="markets-data__item-link" data-trackable="link">Visit Markets Data</a></div></div></div><div id="n-exponea-bottom-slot"></div></div><header id="site-navigation" class="o-header o-header--large-logo" data-o-component="o-header" data-o-header--no-js="true" tabindex="-1"><div class="o-header__row o-header__anon" data-trackable="header-anon"><ul class="o-header__anon-list"><li class="o-header__anon-item"><a class="o-header__anon-link" href="/login?location=/" data-trackable="Sign In">Sign In</a></li><li class="o-header__anon-item"><a class="o-header__anon-link" href="/products?segmentId=f860e6c2-18af-ab30-cd5e-6e3a456f9265" data-trackable="Subscribe">Subscribe</a></li></ul></div><div class="o-header__row o-header__top" data-trackable="header-top"><div class="o-header__container"><div class="o-header__top-wrapper"><div class="o-header__top-column o-header__top-column--left"><a href="#o-header-drawer" class="o-header__top-icon-link o-header__top-icon-link--menu" aria-controls="o-header-drawer" title="Open side navigation menu" data-trackable="drawer-toggle"><span class="o-header__top-link-label">Open side navigation menu</span></a><a href="#o-header-search-primary" class="o-header__top-icon-link o-header__top-icon-link--search" aria-controls="o-header-search-primary" title="Open search bar" data-trackable="search-toggle"><span class="o-header__top-link-label">Open search bar</span></a></div><div class="o-header__top-column o-header__top-column--center"><a class="o-header__top-logo" style="background-image:none" data-trackable="logo" href="/" title="Go to Financial Times homepage"><svg viewBox="0 0 1054 86"><title>Financial Times</title><path d="M26.177 72.609c0 5.938 1.697 7.295 12.554 7.295v3.732H.9v-3.732c7.464 0 10.01-.679 10.01-7.125V12.215c0-6.447-2.546-7.126-10.01-7.126V1.357h63.448l.34 22.563h-3.054C59.937 6.956 55.696 5.43 39.919 5.43H26.008v33.59h11.196c10.688 0 11.367-1.697 12.215-10.179h3.054v24.599h-3.054c-.848-8.482-1.527-10.01-12.215-10.01H26.008v29.18h.17zm46.314 11.027v-3.732c7.465 0 10.01-.679 10.01-7.125V12.215c0-6.447-2.545-7.126-10.01-7.126V1.357h35.287V5.09c-7.465 0-10.01.679-10.01 7.126v60.564c0 6.446 2.545 7.125 10.01 7.125v3.732H72.49zm115.36 1.357l-56.323-69.725V72.44c0 6.617 4.58 7.634 12.385 7.634v3.733h-29.858v-3.733c7.803 0 12.045-1.017 12.045-7.634V8.991c-3.563-3.732-6.108-3.902-12.045-3.902V1.357h26.465l43.09 55.475V12.554c0-6.616-4.58-7.634-12.384-7.634V1.357h30.027V5.09c-7.803 0-12.045 1.018-12.045 7.635v72.27h-1.357zm40.207-1.357h-29.689v-3.732c7.804 0 11.367-1.018 13.911-7.804L239.085.509h7.464l28.84 72.1c2.545 6.447 3.732 7.125 9.67 7.125v3.732h-34.438v-3.732c10.518 0 11.536-.848 8.99-7.125l-8.481-21.884h-25.787L217.71 71.93c-2.375 6.447 1.357 7.804 10.518 7.804v3.902h-.17zm-1.188-37.153h22.393l-11.705-29.518-10.688 29.518zm135.548 38.51l-56.153-69.725V72.44c0 6.617 4.58 7.634 12.384 7.634v3.733h-29.18v-3.733c7.126 0 11.367-1.017 11.367-7.634V9.161c-4.071-3.732-7.125-4.072-13.91-4.072V1.357h28.16l43.09 55.475V12.554c0-6.616-4.58-7.634-12.383-7.634V1.357h29.858V5.09c-7.804 0-12.045 1.018-12.045 7.635v72.27h-1.188zm83.297-83.805h2.036l1.187 24.598-3.053.17c-2.036-14.08-9.5-21.545-23.242-21.545-15.268 0-26.804 13.063-26.804 33.081 0 25.617 16.116 40.206 33.08 40.206 7.296 0 13.912-2.035 20.358-8.99l2.376 2.374c-5.26 7.465-15.608 13.742-29.52 13.742-20.696 0-41.732-15.608-41.732-41.734C380.4 17.813 399.57 0 422.813 0c11.027 0 16.795 4.75 19.848 4.75 1.357 0 2.375-1.187 3.054-3.562zm12.723 82.448v-3.732c7.465 0 10.01-.679 10.01-7.125V12.215c0-6.447-2.545-7.126-10.01-7.126V1.357h35.287V5.09c-7.464 0-10.01.679-10.01 7.126v60.564c0 6.446 2.546 7.125 10.01 7.125v3.732h-35.287zm68.538 0h-27.653v-3.732c6.108 0 9.331-1.018 11.876-7.804L538.003.509h7.464l28.84 72.1c2.545 6.447 3.733 7.125 9.67 7.125v3.732H549.54v-3.732c10.518 0 11.536-.848 8.991-7.125l-8.482-21.884h-25.786l-7.635 21.205c-2.375 6.447 1.358 7.804 10.519 7.804v3.902h-.17zm-1.188-37.153h22.394l-11.536-29.518-10.858 29.518zm63.957 37.153v-3.732c7.465 0 10.01-.679 10.01-7.125V12.215c0-6.447-2.545-7.126-10.01-7.126V1.357h35.117V5.09c-7.464 0-9.84.679-9.84 7.126v61.073c0 5.428 2.715 6.107 7.126 6.107h4.241c15.947 0 21.036-2.375 25.447-20.527l3.054.339-2.545 24.26h-62.6v.17zM760.75 1.357l.339 23.92h-3.054C756.34 7.634 752.098 5.43 736.32 5.43h-5.089v67.18c0 6.447 2.375 7.295 12.554 7.295v3.732h-40.376v-3.732c10.179 0 12.723-1.018 12.723-7.295V5.429h-5.089c-15.777 0-20.018 2.205-21.715 19.848h-3.053l.339-23.92h74.136zm7.973 82.28v-3.733c7.465 0 10.01-.679 10.01-7.125V12.215c0-6.447-2.545-7.126-10.01-7.126V1.357h35.287V5.09c-7.465 0-10.01.679-10.01 7.126v60.564c0 6.446 2.545 7.125 10.01 7.125v3.732h-35.287zM910.21 1.356V5.09c-7.465 0-10.688.34-10.01 6.956l6.447 61.073c.679 6.277 3.054 6.955 10.518 6.955v3.733h-35.117v-3.733c7.295 0 9.84-.678 9.331-6.955L884.762 8.99l-25.956 76.172h-1.018L832.34 8.822l-6.108 64.126c-.678 6.447 3.733 7.125 11.197 7.125v3.733h-27.483v-3.733c7.465 0 10.01-1.187 10.518-7.125l6.447-61.073c.679-6.446-2.545-6.955-10.01-6.955V1.357h28.84l17.305 56.153 18.661-56.153h28.5zm65.653 52.082h-3.053c-.849-8.482-1.527-10.01-12.215-10.01H948.04v29.859c0 5.428 2.715 6.107 7.125 6.107h6.786c15.947 0 21.036-2.375 25.447-20.527l3.054.339-2.884 24.26h-64.805v-3.733c7.464 0 10.009-.678 10.009-7.125V12.215c0-6.447-2.545-7.126-10.01-7.126V1.357h62.261l.34 20.527h-3.054c-1.866-14.59-5.598-16.286-21.885-16.286H948.21v33.42h12.554c10.687 0 11.366-1.696 12.214-10.178h3.054v24.599h-.17zm65.484 13.232c0-7.464-4.75-11.196-12.893-15.777l-13.063-6.786c-9.84-5.259-15.607-11.027-15.607-21.375C999.783 9.84 1010.81 0 1025.23 0c9.84 0 14.929 4.75 17.813 4.75 1.866 0 2.714-1.187 3.562-3.562h2.375l1.188 23.072-3.054.17c-1.696-11.198-9.67-19.85-20.866-19.85-8.483 0-14.081 5.09-14.081 12.215 0 7.804 5.937 11.027 12.554 14.59l11.196 5.937c10.519 5.768 17.983 11.536 17.983 22.563 0 14.59-12.554 24.939-28.161 24.939-11.028 0-16.456-5.26-19.34-5.26-1.866 0-2.884 1.697-3.732 4.242h-2.376l-1.696-24.43 3.054-.339c2.375 15.268 12.893 21.545 23.411 21.545 8.822-.17 16.286-4.071 16.286-13.91z" fill="#231F20" fill-rule="evenodd"></path></svg></a></div><div class="o-header__top-column o-header__top-column--right"><a class="o-header__top-button o-header__top-button--hide-m" role="button" href="/products?segmentId=f860e6c2-18af-ab30-cd5e-6e3a456f9265" data-trackable="Subscribe">Subscribe</a><a class="o-header__top-myaccount" id="o-header-top-link-signin" href="/login?location=/" data-trackable="Sign In"><span>Sign In</span></a></div></div></div></div><div id="o-header-search-primary" class="o-header__row o-header__search o-header__search--primary" data-trackable="header-search" data-o-header-search="true"><div class="o-header__container"><form class="o-header__search-form" action="/search" role="search" aria-label="Site search" data-n-topic-search="true"><label for="o-header-search-term-primary" class="o-header__search-term o-forms-field o-forms-field--optional"><span class="o-forms-title o-header__visually-hidden"><span class="o-forms-title__main">Search the <abbr title="Financial Times">FT</abbr></span></span><span class="o-forms-input o-forms-input--text o-forms-input--suffix"><input type="search" id="o-header-search-term-primary" name="q" autoComplete="off" autoCorrect="off" autoCapitalize="off" spellcheck="false" placeholder="Search for stories, topics or securities" role="combobox" aria-controls="suggestions-o-header-search-term-primary"/><button class="o-header__search-submit" type="submit"><span aria-hidden="true" class="o-header__search-icon"></span><span>Search</span></button><button class="o-header__search-close o--if-js" type="button" aria-controls="o-header-search-primary" title="Close search bar" data-trackable="close"><span class="o-header__visually-hidden">Close search bar</span><span>Close</span></button></span></label></form></div></div><nav id="o-header-nav-mobile" class="o-header__row o-header__nav o-header__nav--mobile" aria-hidden="true" data-trackable="header-nav:mobile"><ul class="o-header__nav-list"><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/" aria-label="Home, current page" aria-current="page" data-trackable="Home">Home</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="https://markets.ft.com/data" data-trackable="Markets Data">Markets Data</a></li></ul></nav><nav id="o-header-nav-desktop" class="o-header__row o-header__nav o-header__nav--desktop" role="navigation" aria-label="Primary navigation" data-trackable="header-nav:desktop"><div class="o-header__container"><ul class="o-header__nav-list o-header__nav-list--left" data-trackable="primary-nav"><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/" id="o-header-link-0" aria-label="Home, current page" aria-current="page" data-trackable="Home">Home</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/world" id="o-header-link-1" data-trackable="World">World</a><div class="o-header__mega" id="o-header-mega-1" role="group" aria-labelledby="o-header-link-1" data-o-header-mega="true" data-trackable="meganav | World"><div class="o-header__container"><div class="o-header__mega-wrapper"><div class="o-header__mega-column o-header__mega-column--subsections" data-trackable="sections"><div class="o-header__mega-heading">Sections</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/world" data-trackable="link">World Home</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/middle-east-war" data-trackable="link">Middle East war</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/global-economy" data-trackable="link">Global Economy</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/world-uk" data-trackable="link">UK</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/us" data-trackable="link">US</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/china" data-trackable="link">China</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/africa" data-trackable="link">Africa</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/asia-pacific" data-trackable="link">Asia Pacific</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/emerging-markets" data-trackable="link">Emerging Markets</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/europe" data-trackable="link">Europe</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/war-in-ukraine" data-trackable="link">War in Ukraine</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/americas" data-trackable="link">Americas</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/middle-east-north-africa" data-trackable="link">Middle East &amp; North Africa</a></li></ul></div></div><div class="o-header__mega-column o-header__mega-column--articles" data-trackable="popular"><div class="o-header__mega-heading">Most Read</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/31429c63-70ef-4213-9732-f05ef4422dae" data-trackable="link">Biden aims to Trump-proof his legacy with policy blitz in final days</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/1ef2a6ef-a623-484f-9879-8cb3c26f67fb" data-trackable="link">Inside the bitter fight to become Donald Trump’s Treasury secretary</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/8c1031b6-2917-4e0f-904a-45f6cd20059e" data-trackable="link">UN climate summit on the brink of collapse as vulnerable nations walk out</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/91865463-4b93-448c-95bb-8525ccb1016e" data-trackable="link">Brits retiring abroad could avoid UK inheritance tax under new loophole</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/0684127a-61de-41f4-af39-d36e0a1ffc5d" data-trackable="link">Gisèle Pelicot, the woman at the heart of a trial that has shocked France</a></li></ul></div></div></div></div></div></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/us" id="o-header-link-2" data-trackable="US">US</a><div class="o-header__mega" id="o-header-mega-2" role="group" aria-labelledby="o-header-link-2" data-o-header-mega="true" data-trackable="meganav | US"><div class="o-header__container"><div class="o-header__mega-wrapper"><div class="o-header__mega-column o-header__mega-column--subsections" data-trackable="sections"><div class="o-header__mega-heading">Sections</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/us" data-trackable="link">US Home</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/us-economy" data-trackable="link">US Economy</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/investing-in-america" data-trackable="link">Investing in America</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/us-companies" data-trackable="link">US Companies</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/us-politics-policy" data-trackable="link">US Politics &amp; Policy</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/us-presidential-election-2024" data-trackable="link">US Presidential Election 2024</a></li></ul></div></div><div class="o-header__mega-column o-header__mega-column--articles" data-trackable="popular"><div class="o-header__mega-heading">Most Read</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/31429c63-70ef-4213-9732-f05ef4422dae" data-trackable="link">Biden aims to Trump-proof his legacy with policy blitz in final days</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/1ef2a6ef-a623-484f-9879-8cb3c26f67fb" data-trackable="link">Inside the bitter fight to become Donald Trump’s Treasury secretary</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/97050b29-02bf-4a2c-8629-9d1c8509dc55" data-trackable="link">Hollywood gives thanks for blockbusters after long lean period</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/bec322d1-0d73-4903-8b41-5e6d5d9a358a" data-trackable="link">Covid lockdown sceptic is frontrunner to lead Trump health agency</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/6f1984d1-8d19-43b1-a3cd-0f7ba9cbdd85" data-trackable="link">Tina is back: Investors say there is no alternative to US equities</a></li></ul></div></div></div></div></div></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/companies" id="o-header-link-3" data-trackable="Companies">Companies</a><div class="o-header__mega" id="o-header-mega-3" role="group" aria-labelledby="o-header-link-3" data-o-header-mega="true" data-trackable="meganav | Companies"><div class="o-header__container"><div class="o-header__mega-wrapper"><div class="o-header__mega-column o-header__mega-column--subsections" data-trackable="sections"><div class="o-header__mega-heading">Sections</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/companies" data-trackable="link">Companies Home</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/energy" data-trackable="link">Energy</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/financials" data-trackable="link">Financials</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/health" data-trackable="link">Health</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/industrials" data-trackable="link">Industrials</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/media" data-trackable="link">Media</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/professional-services" data-trackable="link">Professional Services</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/retail-consumer" data-trackable="link">Retail &amp; Consumer</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/technology-sector" data-trackable="link">Tech Sector</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/telecoms" data-trackable="link">Telecoms</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/transport" data-trackable="link">Transport</a></li></ul></div></div><div class="o-header__mega-column o-header__mega-column--articles" data-trackable="popular"><div class="o-header__mega-heading">Most Read</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/e1b52147-c171-4902-8bce-204ba0905912" data-trackable="link">Meta loses ground to Bluesky as users abandon Elon Musk’s X </a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/22df8cf6-d224-4ce8-8d73-a5e3f995fc2c" data-trackable="link">Goldman Sachs takes $900mn hit on Northvolt investment</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/8c1031b6-2917-4e0f-904a-45f6cd20059e" data-trackable="link">UN climate summit on the brink of collapse as vulnerable nations walk out</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/ca809d14-5fb1-4586-b1ae-bf8ccae7d300" data-trackable="link">Ex-Barclays chief John Varley pulled back into fight to clear bank’s name</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/09938004-21b9-4750-8fa2-9ed15c566d4e" data-trackable="link">‘There was so much promise’: How Northvolt tumbled into bankruptcy</a></li></ul></div></div></div></div></div></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/technology" id="o-header-link-4" data-trackable="Tech">Tech</a><div class="o-header__mega" id="o-header-mega-4" role="group" aria-labelledby="o-header-link-4" data-o-header-mega="true" data-trackable="meganav | Tech"><div class="o-header__container"><div class="o-header__mega-wrapper"><div class="o-header__mega-column o-header__mega-column--subsections" data-trackable="sections"><div class="o-header__mega-heading">Sections</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/technology" data-trackable="link">Tech Home</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/artificial-intelligence" data-trackable="link">Artificial intelligence</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/semiconductors" data-trackable="link">Semiconductors</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/cyber-security" data-trackable="link">Cyber Security</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/social-media" data-trackable="link">Social Media</a></li></ul></div></div><div class="o-header__mega-column o-header__mega-column--articles" data-trackable="popular"><div class="o-header__mega-heading">Most Read</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/e1b52147-c171-4902-8bce-204ba0905912" data-trackable="link">Meta loses ground to Bluesky as users abandon Elon Musk’s X </a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/c01c74e4-eda0-4752-ac51-cf2c694ab32f" data-trackable="link">Thomas Kurtz, mathematician, 1928-2024</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/a3a329ee-8c9a-4abd-add2-eb7d56f4c108" data-trackable="link">What Trump means for Silicon Valley</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/01da4ed8-0371-44b0-a07d-63e07f32939e" data-trackable="link">Amazon pumps another $4bn into AI start-up Anthropic</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/ac17ef21-7a9d-4366-9b9e-343489785f9b" data-trackable="link">Samsung’s princeling heir Lee Jae-yong grapples with corporate crisis</a></li></ul></div></div></div></div></div></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/markets" id="o-header-link-5" data-trackable="Markets">Markets</a><div class="o-header__mega" id="o-header-mega-5" role="group" aria-labelledby="o-header-link-5" data-o-header-mega="true" data-trackable="meganav | Markets"><div class="o-header__container"><div class="o-header__mega-wrapper"><div class="o-header__mega-column o-header__mega-column--subsections" data-trackable="sections"><div class="o-header__mega-heading">Sections</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/markets" data-trackable="link">Markets Home</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/alphaville" data-trackable="link">Alphaville</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="https://markets.ft.com/data" data-trackable="link">Markets Data</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/crypto" data-trackable="link">Crypto</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/capital-markets" data-trackable="link">Capital Markets</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/commodities" data-trackable="link">Commodities</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/currencies" data-trackable="link">Currencies</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/equities" data-trackable="link">Equities</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/ft-wealth-management" data-trackable="link">Wealth Management</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/moral-money" data-trackable="link">Moral Money</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="https://etf.ft.com" data-trackable="link">ETF Hub</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/fund-management" data-trackable="link">Fund Management</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/ft-trading-room" data-trackable="link">Trading</a></li></ul></div></div><div class="o-header__mega-column o-header__mega-column--articles" data-trackable="popular"><div class="o-header__mega-heading">Most Read</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/8c1031b6-2917-4e0f-904a-45f6cd20059e" data-trackable="link">UN climate summit on the brink of collapse as vulnerable nations walk out</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/ca809d14-5fb1-4586-b1ae-bf8ccae7d300" data-trackable="link">Ex-Barclays chief John Varley pulled back into fight to clear bank’s name</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/73fa6fd9-6f34-4e59-8f0f-04de3be7387a" data-trackable="link">The delusions behind a bitcoin strategic reserve </a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/cbc6cbb8-a91c-48b5-922e-ca5246956b2b" data-trackable="link">German bond investors bet on an end to Berlin’s ‘debt brake’ </a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/6f1984d1-8d19-43b1-a3cd-0f7ba9cbdd85" data-trackable="link">Tina is back: Investors say there is no alternative to US equities</a></li></ul></div></div></div></div></div></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/climate-capital" id="o-header-link-6" data-trackable="Climate">Climate</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/opinion" id="o-header-link-7" data-trackable="Opinion">Opinion</a><div class="o-header__mega" id="o-header-mega-7" role="group" aria-labelledby="o-header-link-7" data-o-header-mega="true" data-trackable="meganav | Opinion"><div class="o-header__container"><div class="o-header__mega-wrapper"><div class="o-header__mega-column o-header__mega-column--subsections" data-trackable="sections"><div class="o-header__mega-heading">Sections</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/opinion" data-trackable="link">Opinion Home</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/columnists" data-trackable="link">Columnists</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/ft-view" data-trackable="link">The FT View</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/the-big-read" data-trackable="link">The Big Read</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/lex" data-trackable="link">Lex</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/obituaries" data-trackable="link">Obituaries</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/letters" data-trackable="link">Letters</a></li></ul></div></div><div class="o-header__mega-column o-header__mega-column--articles" data-trackable="popular"><div class="o-header__mega-heading">Most Read</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/ded9a634-64f6-42a7-b081-40448b9e490a" data-trackable="link">The age of the partial outsider</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/8292727b-48a9-489a-8b69-443271ba3957" data-trackable="link">Do they know it’s Africa, at all?</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/73fa6fd9-6f34-4e59-8f0f-04de3be7387a" data-trackable="link">The delusions behind a bitcoin strategic reserve </a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/5d1d1137-c0ae-476e-941e-6811d59cea28" data-trackable="link">Confessions of a farmer’s daughter</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/c01c74e4-eda0-4752-ac51-cf2c694ab32f" data-trackable="link">Thomas Kurtz, mathematician, 1928-2024</a></li></ul></div></div></div></div></div></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/lex" id="o-header-link-8" data-trackable="Lex">Lex</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/work-careers" id="o-header-link-9" data-trackable="Work &amp; Careers">Work &amp; Careers</a><div class="o-header__mega" id="o-header-mega-9" role="group" aria-labelledby="o-header-link-9" data-o-header-mega="true" data-trackable="meganav | Work &amp; Careers"><div class="o-header__container"><div class="o-header__mega-wrapper"><div class="o-header__mega-column o-header__mega-column--subsections" data-trackable="sections"><div class="o-header__mega-heading">Sections</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/work-careers" data-trackable="link">Work &amp; Careers Home</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="https://rankings.ft.com/business-education" data-trackable="link">Business School Rankings</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/business-education" data-trackable="link">Business Education</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="https://rankings.ft.com/incubator-accelerator-programmes-europe" data-trackable="link">Europe&#x27;s Start-Up Hubs</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/entrepreneurship" data-trackable="link">Entrepreneurship</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/recruitment" data-trackable="link">Recruitment</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/business-books" data-trackable="link">Business Books</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/business-travel" data-trackable="link">Business Travel</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/working-it" data-trackable="link">Working It</a></li></ul></div></div><div class="o-header__mega-column o-header__mega-column--articles" data-trackable="popular"><div class="o-header__mega-heading">Most Read</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/91865463-4b93-448c-95bb-8525ccb1016e" data-trackable="link">Brits retiring abroad could avoid UK inheritance tax under new loophole</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/5283f0f0-2eb7-44e2-b477-a9999400065c" data-trackable="link">What the ‘manopause’ tells us about the gender gap </a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/ccb4c885-57f3-4008-8359-f4e4fcc24eaa" data-trackable="link">What’s behind the lesbian pay premium?</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/43527e66-2feb-45fc-8e74-0e2112a1fce5" data-trackable="link">The new rules of the hotel pool</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/5f43c144-7779-4c6b-8fe0-d40fd0d537e3" data-trackable="link">A local’s guide to Miami’s green spaces</a></li></ul></div></div></div></div></div></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/life-arts" id="o-header-link-10" data-trackable="Life &amp; Arts">Life &amp; Arts</a><div class="o-header__mega" id="o-header-mega-10" role="group" aria-labelledby="o-header-link-10" data-o-header-mega="true" data-trackable="meganav | Life &amp; Arts"><div class="o-header__container"><div class="o-header__mega-wrapper"><div class="o-header__mega-column o-header__mega-column--subsections" data-trackable="sections"><div class="o-header__mega-heading">Sections</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/life-arts" data-trackable="link">Life &amp; Arts Home</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/arts" data-trackable="link">Arts</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/books" data-trackable="link">Books</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/food-drink" data-trackable="link">Food &amp; Drink</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/magazine" data-trackable="link">FT Magazine</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/house-home" data-trackable="link">House &amp; Home</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/style" data-trackable="link">Style</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/travel" data-trackable="link">Travel</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/globetrotter" data-trackable="link">FT Globetrotter</a></li></ul></div></div><div class="o-header__mega-column o-header__mega-column--articles" data-trackable="popular"><div class="o-header__mega-heading">Most Read</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/8cc39e9f-d050-4f46-9187-aed5ae32b2cb" data-trackable="link">The myths that made Elon Musk </a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/ded9a634-64f6-42a7-b081-40448b9e490a" data-trackable="link">The age of the partial outsider</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/8292727b-48a9-489a-8b69-443271ba3957" data-trackable="link">Do they know it’s Africa, at all?</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/5d1d1137-c0ae-476e-941e-6811d59cea28" data-trackable="link">Confessions of a farmer’s daughter</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/bddc54ba-3dc1-4a1d-a245-ae8d83ef9573" data-trackable="link">Best books of 2024: Roula Khalaf, Janan Ganesh and other FT journalists pick their favourites</a></li></ul></div></div></div></div></div></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/htsi" id="o-header-link-11" data-trackable="HTSI">HTSI</a></li></ul></div></nav></header><header class="o-header o-header--simple o-header--sticky o--if-js" data-o-component="o-header" data-o-header--sticky="true" aria-hidden="true"><div class="o-header__row o-header__top" data-trackable="header-sticky"><div class="o-header__container"><div class="o-header__top-wrapper"><div class="o-header__top-column o-header__top-column--left"><a href="#" class="o-header__top-icon-link o-header__top-icon-link--menu" aria-controls="o-header-drawer" data-trackable="drawer-toggle" tabindex="-1"><span class="o-header__top-link-label">Menu</span></a><a href="#" class="o-header__top-icon-link o-header__top-icon-link--search" aria-controls="o-header-search-sticky" data-trackable="search-toggle" tabindex="-1"><span class="o-header__top-link-label">Search</span></a></div><div class="o-header__top-column o-header__top-column--center"><div class="o-header__top-takeover"><div class="o-header__nav"><ul class="o-header__nav-list o-header__nav-list--left" data-trackable="primary-nav"><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/" data-trackable="Home" tabindex="-1">Home</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/world" data-trackable="World" tabindex="-1">World</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/us" data-trackable="US" tabindex="-1">US</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/companies" data-trackable="Companies" tabindex="-1">Companies</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/technology" data-trackable="Tech" tabindex="-1">Tech</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/markets" data-trackable="Markets" tabindex="-1">Markets</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/climate-capital" data-trackable="Climate" tabindex="-1">Climate</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/opinion" data-trackable="Opinion" tabindex="-1">Opinion</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/lex" data-trackable="Lex" tabindex="-1">Lex</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/work-careers" data-trackable="Work &amp; Careers" tabindex="-1">Work &amp; Careers</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/life-arts" data-trackable="Life &amp; Arts" tabindex="-1">Life &amp; Arts</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/htsi" data-trackable="HTSI" tabindex="-1">HTSI</a></li></ul></div></div><a class="o-header__top-logo o-header__hide--L" data-trackable="logo" href="/" title="Go to Financial Times homepage" tabindex="-1"><span class="o-header__visually-hidden">Financial Times</span></a></div><div class="o-header__top-column o-header__top-column--right"><a class="o-header__top-button o-header__top-button--hide-m" role="button" href="/products?segmentId=f860e6c2-18af-ab30-cd5e-6e3a456f9265" data-trackable="Subscribe" tabindex="-1">Subscribe</a><a class="o-header__top-myaccount" id="o-header-top-link-signin" href="/login?location=/" data-trackable="Sign In"><span>Sign In</span></a></div></div></div></div><div id="o-header-search-sticky" class="o-header__row o-header__search o-header__search--sticky" data-trackable="header-search" data-o-header-search="true"><div class="o-header__container"><form class="o-header__search-form" action="/search" role="search" aria-label="Site search" data-n-topic-search="true"><label for="o-header-search-term-sticky" class="o-header__search-term o-forms-field o-forms-field--optional"><span class="o-forms-title o-header__visually-hidden"><span class="o-forms-title__main">Search the <abbr title="Financial Times">FT</abbr></span></span><span class="o-forms-input o-forms-input--text o-forms-input--suffix"><input type="search" id="o-header-search-term-sticky" name="q" autoComplete="off" autoCorrect="off" autoCapitalize="off" spellcheck="false" placeholder="Search for stories, topics or securities" role="combobox" aria-controls="suggestions-o-header-search-term-sticky"/><button class="o-header__search-submit" type="submit"><span aria-hidden="true" class="o-header__search-icon"></span><span>Search</span></button><button class="o-header__search-close o--if-js" type="button" aria-controls="o-header-search-sticky" title="Close search bar" data-trackable="close"><span class="o-header__visually-hidden">Close search bar</span><span>Close</span></button></span></label></form></div></div></header></div><div class="n-layout__row n-layout__row--content"><div><h1 class="o-normalise-visually-hidden">Financial Times Home</h1><div id="n-exponea-top-slot"></div><div></div><main id="site-content"><div data-trackable="list:top-stories;listTitle:empty" data-trackable-context-list-type="top-stories" data-trackable-context-list-position="0" data-trackable-context-list-siblings="21" class="story-group-slice"><section class="slice story-group-named-slice top-stories-slice slice__no-title slice--default"><div class="slice__content"><div class="layout-desktop__grid-container"><div class="layout-desktop__grid layout-desktop__grid--span4 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:northvolt-ab;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="northvolt-ab" data-trackable-context-storygroup-position="0" data-trackable-context-storygroup-siblings="3" class="layout-desktop--full-height"><div class="story-group-stacked story-group-stacked--hide-image"><div class="story-group-stacked__primary-story"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="2" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-3"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__image primary-story__image--1-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/22df8cf6-d224-4ce8-8d73-a5e3f995fc2c" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F639c09ab-c0f9-44cf-a86c-31f1af986521.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F639c09ab-c0f9-44cf-a86c-31f1af986521.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F639c09ab-c0f9-44cf-a86c-31f1af986521.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down" alt="Goldman Sachs takes $900mn hit on Northvolt investment" class="image image--width-280"/></picture></a></div><div class="primary-story__teaser"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/stream/d12687d2-607e-481c-811b-3b569f6abaca" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Northvolt AB</span></a></div><div class="headline js-teaser-headline headline--scale-7 headline--color-black" data-content-id="22df8cf6-d224-4ce8-8d73-a5e3f995fc2c" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/22df8cf6-d224-4ce8-8d73-a5e3f995fc2c" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-7 text--weight-500" id="">Goldman Sachs takes $900mn hit on Northvolt investment</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/22df8cf6-d224-4ce8-8d73-a5e3f995fc2c" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">US bank is second-largest shareholder in Swedish battery maker which filed for Chapter 11 bankruptcy this week</span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div></div></div></div><div class="grid grid--1-columns grid__story-group-wrapper--secondary" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="stacked-secondary-story stacked-secondary-story--span-1 stacked-secondary-story--col-1 stacked-secondary-story--row-grid-1 stacked-secondary-story--row-stack-2"><div class="separator--solid"></div><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="1" data-trackable-context-story-siblings="2" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="09938004-21b9-4750-8fa2-9ed15c566d4e" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/09938004-21b9-4750-8fa2-9ed15c566d4e" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">‘There was so much promise’: How Northvolt tumbled into bankruptcy</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span6 layout-desktop__grid--column-start-5 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:us-politics-and-policy;storyGroup:medium" data-trackable-context-storygroup-size="medium" data-trackable-context-storygroup-title="us-politics-and-policy" data-trackable-context-storygroup-position="1" data-trackable-context-storygroup-siblings="3" class="layout-desktop--full-height"><div class="story-group story-group--featured"><div class="grid grid--2-columns grid--fullHeight" style="grid-template-rows:auto;-ms-grid-rows:auto"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-2 story-group--end-of-row"><div class="story-group__article story-group__article--featured"><div data-trackable="story:featured" data-trackable-context-story-type="featured" data-trackable-context-story-position="0" data-trackable-context-story-siblings="1" class="featured-story featured-story--theme-tinted"><div class="featured-story__image"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/1ef2a6ef-a623-484f-9879-8cb3c26f67fb" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F6090134b-a0b3-4cba-b055-b12b96ca7775.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F6090134b-a0b3-4cba-b055-b12b96ca7775.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F6090134b-a0b3-4cba-b055-b12b96ca7775.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down" alt="Inside the bitter fight to become Donald Trump’s Treasury secretary" class="image image--width-580"/></picture></a></div><div class="featured-story-content"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/us-politics-policy" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">US politics &amp; policy</span></a></div><div class="headline js-teaser-headline headline--scale-5 headline--color-black" data-content-id="1ef2a6ef-a623-484f-9879-8cb3c26f67fb" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/1ef2a6ef-a623-484f-9879-8cb3c26f67fb" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-5 text--weight-400" id="">Inside the bitter fight to become Donald Trump’s Treasury secretary</span></a></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span2 layout-desktop__grid--column-start-11 layout-desktop__grid--row-start-1 layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:editor-s-picks;storyGroup:xsmall" data-trackable-context-storygroup-size="xsmall" data-trackable-context-storygroup-title="editor-s-picks" data-trackable-context-storygroup-position="2" data-trackable-context-storygroup-siblings="3" class="layout-desktop--full-height"><div class="story-group story-group--extra-small"><div class="grid grid--1-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-0 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="2" class="grid grid--1-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-1"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__teaser"><div class="story-group__title"><span class="text text--color-claret text-sans--scale-0 text--weight-400" id="">Editor&#x27;s picks</span></div><div class="primary-story__image primary-story__image--1-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/ded9a634-64f6-42a7-b081-40448b9e490a" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F7c4a13b5-383f-4604-81cc-42e1152a4454.jpg?source=next-home-page&amp;dpr=2&amp;width=180&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F7c4a13b5-383f-4604-81cc-42e1152a4454.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F7c4a13b5-383f-4604-81cc-42e1152a4454.jpg?source=next-home-page&amp;dpr=2&amp;width=180&amp;fit=scale-down" alt="The age of the partial outsider" class="image image--width-180"/></picture></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="ded9a634-64f6-42a7-b081-40448b9e490a" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/ded9a634-64f6-42a7-b081-40448b9e490a" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="icon icon--opinion icon--scale-3"> <span class="o-normalise-visually-hidden">opinion content. </span></span></span><span class="text text--color-black text-display--scale-3 text--weight-500" id="">The age of the partial outsider</span></a></div></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__opinion"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2Ffthead-v1_janan-ganesh-a7264456-e042-4bdb-bbdc-fee34c7a5cbb.png?source=next-home-page&amp;dpr=2&amp;width=40&amp;height=40&amp;fit=cover&amp;gravity=poi"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2Ffthead-v1_janan-ganesh-a7264456-e042-4bdb-bbdc-fee34c7a5cbb.png?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2Ffthead-v1_janan-ganesh-a7264456-e042-4bdb-bbdc-fee34c7a5cbb.png?source=next-home-page&amp;dpr=2&amp;width=40&amp;height=40&amp;fit=cover&amp;gravity=poi" alt="" class="image image--width-40"/></picture><div class="author-opinion-details"><a data-trackable="author-link" data-trackable-context-story-link="author-link" href="https://www.ft.com/janan-ganesh" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Janan Ganesh</span></a></div></div></div></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-1 story-group--full-width-0 story-group--end-of-row"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="1" data-trackable-context-story-siblings="2" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="0684127a-61de-41f4-af39-d36e0a1ffc5d" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/0684127a-61de-41f4-af39-d36e0a1ffc5d" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-3 text--weight-600" id="">Person in the News. </span></span><span class="text text--color-black text-display--scale-3 text--weight-500" id="">Gisèle Pelicot, the woman at the heart of a trial that has shocked France</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div></div></div></section></div><section class="slice advert-slice slice__no-title"><div class="slice__content"><div class="layout-tablet__grid-container"><div class="layout-tablet__grid layout-tablet__grid--span12 layout-tablet__grid--column-start-1 layout-tablet__grid--row-start-1"><div class="layout__grid-content"><pg-slot data-config-key="high-impact"></pg-slot></div></div></div></div></section><div data-trackable="list:top-stories;listTitle:top-stories" data-trackable-context-list-type="top-stories" data-trackable-context-list-position="2" data-trackable-context-list-siblings="21" class="story-group-slice"><section class="slice top-stories-slice slice--default"><div class="slice__content"><div class="separator--dotted"></div><header id="top-stories" class="slice-heading"><h2 class="slice-heading__title"><span class="text text--color-black-80 text-sans--scale-0" id="">TOP STORIES</span></h2></header><div class="layout-desktop__grid-container"><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:meta-platforms;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="meta-platforms" data-trackable-context-storygroup-position="0" data-trackable-context-storygroup-siblings="4" class="layout-desktop--full-height"><div class="story-group"><div class="grid grid--1-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="1" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-3"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__image primary-story__image--1-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/e1b52147-c171-4902-8bce-204ba0905912" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F4883c9cb-1793-4d49-a539-06dc40a05cae.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F4883c9cb-1793-4d49-a539-06dc40a05cae.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F4883c9cb-1793-4d49-a539-06dc40a05cae.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down" alt="Meta loses ground to Bluesky as users abandon Elon Musk’s X " class="image image--width-280" loading="lazy"/></picture></a></div><div class="primary-story__teaser"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/stream/7e37c19e-8fa3-439f-a870-b33f0520bcc0" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Meta Platforms</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="e1b52147-c171-4902-8bce-204ba0905912" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/e1b52147-c171-4902-8bce-204ba0905912" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-500" id="">Meta loses ground to Bluesky as users abandon Elon Musk’s X </span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/e1b52147-c171-4902-8bce-204ba0905912" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Social media giant’s Threads app makes changes as smaller competitor to X surges</span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-4 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:us-politics-and-policy;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="us-politics-and-policy" data-trackable-context-storygroup-position="1" data-trackable-context-storygroup-siblings="4" class="layout-desktop--full-height"><div class="story-group"><div class="grid grid--1-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="2" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-3"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__image primary-story__image--1-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/31429c63-70ef-4213-9732-f05ef4422dae" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fb70124b7-0cf9-426b-a18e-53eff2f0a660.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fb70124b7-0cf9-426b-a18e-53eff2f0a660.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fb70124b7-0cf9-426b-a18e-53eff2f0a660.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down" alt="Biden aims to Trump-proof his legacy with policy blitz in final days" class="image image--width-280" loading="lazy"/></picture></a></div><div class="primary-story__teaser"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/us-politics-policy" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">US politics &amp; policy</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="31429c63-70ef-4213-9732-f05ef4422dae" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/31429c63-70ef-4213-9732-f05ef4422dae" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-500" id="">Biden aims to Trump-proof his legacy with policy blitz in final days</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/31429c63-70ef-4213-9732-f05ef4422dae" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Outgoing president makes last push on Ukraine and seeks new judicial appointments and manufacturing subsidies</span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="1" data-trackable-context-story-siblings="2" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="73fa6fd9-6f34-4e59-8f0f-04de3be7387a" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/73fa6fd9-6f34-4e59-8f0f-04de3be7387a" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="icon icon--opinion icon--scale-2"> <span class="o-normalise-visually-hidden">opinion content. </span></span><span class="text text--color-black text-display--scale-2 text--weight-600" id="">On Wall Street. </span></span><span class="text text--color-black text-display--scale-2 text--weight-500" id="">The delusions behind a bitcoin strategic reserve </span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__opinion"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2FBrendan-Greeley-3e82acaf-e07d-470f-b95d-8883c15c5e05.png?source=next-home-page&amp;dpr=2&amp;width=40&amp;height=40&amp;fit=cover&amp;gravity=poi"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2FBrendan-Greeley-3e82acaf-e07d-470f-b95d-8883c15c5e05.png?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2FBrendan-Greeley-3e82acaf-e07d-470f-b95d-8883c15c5e05.png?source=next-home-page&amp;dpr=2&amp;width=40&amp;height=40&amp;fit=cover&amp;gravity=poi" alt="" class="image image--width-40"/></picture><div class="author-opinion-details"><a data-trackable="author-link" data-trackable-context-story-link="author-link" href="https://www.ft.com/brendan-greeley" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Brendan Greeley</span></a></div></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-7 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:us-politics-and-policy;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="us-politics-and-policy" data-trackable-context-storygroup-position="2" data-trackable-context-storygroup-siblings="4" class="layout-desktop--full-height"><div class="story-group"><div class="grid grid--1-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="1" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-3"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__image primary-story__image--1-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/bec322d1-0d73-4903-8b41-5e6d5d9a358a" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F678ba7f6-054b-4cad-be54-c12758ec9b97.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F678ba7f6-054b-4cad-be54-c12758ec9b97.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F678ba7f6-054b-4cad-be54-c12758ec9b97.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down" alt="Covid lockdown sceptic is frontrunner to lead Trump health agency" class="image image--width-280" loading="lazy"/></picture></a></div><div class="primary-story__teaser"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/us-politics-policy" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">US politics &amp; policy</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="bec322d1-0d73-4903-8b41-5e6d5d9a358a" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/bec322d1-0d73-4903-8b41-5e6d5d9a358a" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-500" id="">Covid lockdown sceptic is frontrunner to lead Trump health agency</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/bec322d1-0d73-4903-8b41-5e6d5d9a358a" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Jay Bhattacharya at the NIH would be the latest ally of Robert F Kennedy Jr to take a role overseeing US healthcare</span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"><div class="timestamp"><time class="timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-4-hours" dateTime="2024-11-23T18:26:16+0000">2 hours ago</time></div></div></div></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-10 layout-desktop__grid--row-start-1 layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:cop29;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="cop29" data-trackable-context-storygroup-position="3" data-trackable-context-storygroup-siblings="4" class="layout-desktop--full-height"><div class="story-group"><div class="grid grid--1-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="2" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-3"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__image primary-story__image--1-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/8c1031b6-2917-4e0f-904a-45f6cd20059e" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F14ebc4a1-ab9b-48ce-b0e2-6f2ac0dea011.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F14ebc4a1-ab9b-48ce-b0e2-6f2ac0dea011.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F14ebc4a1-ab9b-48ce-b0e2-6f2ac0dea011.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down" alt="UN climate summit on the brink of collapse as vulnerable nations walk out" class="image image--width-280" loading="lazy"/></picture></a></div><div class="primary-story__teaser"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/stream/bbf38b59-d229-41e0-81e9-34635476aac6" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">COP29</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="8c1031b6-2917-4e0f-904a-45f6cd20059e" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/8c1031b6-2917-4e0f-904a-45f6cd20059e" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-500" id="">UN climate summit on the brink of collapse as vulnerable nations walk out</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/8c1031b6-2917-4e0f-904a-45f6cd20059e" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Germany accuses Saudi Arabia and Russia of trying to block progress on efforts to cut fossil fuel use</span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"><div class="timestamp"><time class="timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-4-hours" dateTime="2024-11-23T16:53:17+0000">3 hours ago</time></div></div></div></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="1" data-trackable-context-story-siblings="2" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="cc0cba2f-751a-4909-806d-c975c15feeea" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/cc0cba2f-751a-4909-806d-c975c15feeea" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Kick-start for carbon credit market after loose rules agreed at COP29</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"><div class="timestamp timestamp--new"><span class="timestamp-prefix"> new </span><time class="timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-4-hours" dateTime="2024-11-23T20:32:14+0000"></time></div></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div></div></div></section></div><section class="slice advert-slice slice__no-title"><div class="slice__content"><div class="layout-tablet__grid-container"><div class="layout-tablet__grid layout-tablet__grid--span12 layout-tablet__grid--column-start-1 layout-tablet__grid--row-start-1"><div class="layout__grid-content"><pg-slot data-config-key="mid-desktop"></pg-slot></div></div></div></div></section><section class="slice advert-slice slice__no-title"><div class="slice__content"><div class="layout-tablet__grid-container"><div class="layout-tablet__grid layout-tablet__grid--span12 layout-tablet__grid--column-start-1 layout-tablet__grid--row-start-1"><div class="layout__grid-content"><pg-slot data-config-key="top-mobile"></pg-slot></div></div></div></div></section><div data-trackable="list:top-stories;listTitle:spotlight" data-trackable-context-list-type="top-stories" data-trackable-context-list-position="5" data-trackable-context-list-siblings="21" class="story-group-slice"><section class="slice top-stories-slice slice--default"><div class="slice__content"><div class="separator--dotted"></div><header id="spotlight" class="slice-heading"><h2 class="slice-heading__title"><span class="text text--color-black-80 text-sans--scale-0" id="">Spotlight</span></h2></header><div class="layout-desktop__grid-container"><div class="layout-desktop__grid layout-desktop__grid--span12 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1 layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:life-and-arts;storyGroup:xlarge" data-trackable-context-storygroup-size="xlarge" data-trackable-context-storygroup-title="life-and-arts" data-trackable-context-storygroup-position="0" data-trackable-context-storygroup-siblings="1" class="layout-desktop--full-height"><div class="spotlight-story spotlight-story--theme-default"><div class="grid grid--12-columns grid--fullHeight"><div class="spotlight-grid--primary-story"><div><div data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="2" class="grid grid--10-columns grid--fullHeight"><div class="spotlight-story-main__wrapper"><div class="spotlight-story-main__teaser"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/life-arts" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Life &amp; Arts</span></a></div><div class="headline js-teaser-headline headline--scale-5 headline--color-black" data-content-id="8cc39e9f-d050-4f46-9187-aed5ae32b2cb" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/8cc39e9f-d050-4f46-9187-aed5ae32b2cb" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-5 text--weight-600" id="">The Weekend Essay. </span></span><span class="text text--color-black text-display--scale-5 text--weight-400" id="">The myths that made Elon Musk </span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/8cc39e9f-d050-4f46-9187-aed5ae32b2cb" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">The tech billionaire’s backing of Donald Trump is part of a worldview that draws on Silicon Valley’s wildest frontiers</span></a></p></div><div class="grid-item grid-item--span-3 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div><div class="spotlight-story-main__image"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/8cc39e9f-d050-4f46-9187-aed5ae32b2cb" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fd1bc4cba-cbc0-4608-823c-ac686b178a68.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fd1bc4cba-cbc0-4608-823c-ac686b178a68.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fd1bc4cba-cbc0-4608-823c-ac686b178a68.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down" alt="The myths that made Elon Musk " class="image image--width-580"/></picture></a></div></div></div></div><div class="spotlight-grid--secondary-story"><div class="separator--solid"></div><div data-trackable-context-story-type="secondary" data-trackable-context-story-position="1" data-trackable-context-story-siblings="2" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-3"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__image primary-story__image--1-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/bddc54ba-3dc1-4a1d-a245-ae8d83ef9573" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F97279e55-1905-48ab-a528-f000c1ebb400.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F97279e55-1905-48ab-a528-f000c1ebb400.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F97279e55-1905-48ab-a528-f000c1ebb400.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down" alt="Best books of 2024: Roula Khalaf, Janan Ganesh and other FT journalists pick their favourites" class="image image--width-280"/></picture></a></div><div class="primary-story__teaser"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/books" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Books</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="bddc54ba-3dc1-4a1d-a245-ae8d83ef9573" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/bddc54ba-3dc1-4a1d-a245-ae8d83ef9573" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-3 text--weight-600" id="">Review. </span></span><span class="text text--color-black text-display--scale-3 text--weight-500" id="">Best books of 2024: Roula Khalaf, Janan Ganesh and other FT journalists pick their favourites</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/bddc54ba-3dc1-4a1d-a245-ae8d83ef9573" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">FT editors, columnists and specialists share the titles that have inspired them</span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div></div></div></div></div></div></div></div></div></div></section></div><section class="slice advert-slice slice__no-title"><div class="slice__content"><div class="layout-tablet__grid-container"><div class="layout-tablet__grid layout-tablet__grid--span12 layout-tablet__grid--column-start-1 layout-tablet__grid--row-start-1"><div class="layout__grid-content"><pg-slot data-config-key="mid-mobile"></pg-slot></div></div></div></div></section><div data-trackable="list:latest-from-monetary-policy-radar" data-trackable-context-list-type="latest-from-monetary-policy-radar" data-trackable-context-list-position="7" data-trackable-context-list-siblings="21" class="story-group-slice hidden"><section class="slice story-group-named-slice slice--full-bleed slice--full-bleed--less-top-padding slice--dark"><div class="slice__content"><header id="latest-from-monetary-policy-radar" class="slice-heading"><h2 class="slice-heading__title"><a data-trackable="link" data-trackable-context-story-link="link" href="/stream/a3fb024b-d93a-4fb0-856c-8e38fe632931" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-80 text-sans--scale-0" id="">Latest from Monetary Policy Radar</span></a></h2></header><div class="layout-desktop__grid-container"><div class="layout-desktop__grid layout-desktop__grid--span12 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1 layout--dark"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:storycollection;storyGroup:xlarge" data-trackable-context-storygroup-size="xlarge" data-trackable-context-storygroup-title="storycollection" data-trackable-context-storygroup-position="0" data-trackable-context-storygroup-siblings="1" class="layout-desktop--full-height"><div class="layout-desktop__grid-container story-collection"><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1"><div class="layout__grid-content"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="4" class="grid grid--1-columns grid--s3-spacing grid--fullHeight monetary-policy-radar__parent"><div class="monetary-policy-radar__content"><div class="grid-item grid-item--span-3"><div class="grid-item grid-item--span-1"><div class="monetary-policy-radar__title"><span class="text text--color-mint text-sans--scale-0 text--weight-600" id="">Bank of Japan</span></div><div class="monetary-policy-radar__headline"><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/e805d5fc-9f4d-4d35-93b7-0a513efe58f2" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-400" id="">Bank of Japan will proceed cautiously with normalisation in 2025</span></a></div></div></div><div class="monetary-policy-radar__timestamp"><span class="text text--color-black text-sans--scale-2" id=""><div class="timestamp"><time class="timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-24-hours" dateTime="2024-11-22T11:33:15+0000">33 hours ago</time></div></span></div></div></div><div class="separator--solid"></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-4 layout-desktop__grid--row-start-1"><div class="layout__grid-content"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="1" data-trackable-context-story-siblings="4" class="grid grid--1-columns grid--s3-spacing grid--fullHeight monetary-policy-radar__parent"><div class="monetary-policy-radar__content"><div class="grid-item grid-item--span-3"><div class="grid-item grid-item--span-1"><div class="monetary-policy-radar__title"><span class="text text--color-mint text-sans--scale-0 text--weight-600" id="">Bank of Japan</span></div><div class="monetary-policy-radar__headline"><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/d59daee0-a1ed-4adb-8250-cb557b02a505" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-400" id="">Higher underlying inflation strengthens case for Bank of Japan’s December rise</span></a></div></div></div><div class="monetary-policy-radar__timestamp"><span class="text text--color-black text-sans--scale-2" id=""><div class="timestamp"><time class="timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-24-hours" dateTime="2024-11-22T08:46:43+0000">35 hours ago</time></div></span></div></div></div><div class="separator--solid"></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-7 layout-desktop__grid--row-start-1"><div class="layout__grid-content"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="2" data-trackable-context-story-siblings="4" class="grid grid--1-columns grid--s3-spacing grid--fullHeight monetary-policy-radar__parent"><div class="monetary-policy-radar__content"><div class="grid-item grid-item--span-3"><div class="grid-item grid-item--span-1"><div class="monetary-policy-radar__title"><span class="text text--color-mint text-sans--scale-0 text--weight-600" id="">Bank of England</span></div><div class="monetary-policy-radar__headline"><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/0180a58f-3c55-4e04-890a-f446cf26ec63" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-400" id="">BoE set to cut rates faster than financial markets expect</span></a></div></div></div><div class="monetary-policy-radar__timestamp"><span class="text text--color-black text-sans--scale-2" id=""><div class="timestamp"><time class="timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-24-hours" dateTime="2024-11-21T10:00:29+0000">58 hours ago</time></div></span></div></div></div><div class="separator--solid"></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-10 layout-desktop__grid--row-start-1"><div class="layout__grid-content"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="3" data-trackable-context-story-siblings="4" class="grid grid--1-columns grid--s3-spacing grid--fullHeight monetary-policy-radar__parent"><div class="monetary-policy-radar__content"><div class="grid-item grid-item--span-3"><div class="grid-item grid-item--span-1"><div class="monetary-policy-radar__title"><span class="text text--color-mint text-sans--scale-0 text--weight-600" id="">European Central Bank</span></div><div class="monetary-policy-radar__headline"><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/f6fe100b-5d66-4665-b9d3-35ef7d5607f1" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-400" id="">ECB will cut rates steadily, keeping the option open to accelerate in 2025</span></a></div></div></div><div class="monetary-policy-radar__timestamp"><span class="text text--color-black text-sans--scale-2" id=""><div class="timestamp"><time class="timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-24-hours" dateTime="2024-11-20T12:51:05+0000">79 hours ago</time></div></span></div></div></div><div class="separator--solid"></div></div></div></div></div></div></div></div></div></div></section></div><div data-trackable="list:top-stories;listTitle:best-of-ft-weekend" data-trackable-context-list-type="top-stories" data-trackable-context-list-position="8" data-trackable-context-list-siblings="21" class="story-group-slice"><section class="slice top-stories-slice slice--default"><div class="slice__content"><div class="separator--dotted"></div><header id="best-of-ft-weekend" class="slice-heading"><h2 class="slice-heading__title"><span class="text text--color-black-80 text-sans--scale-0" id="">BEST OF FT WEEKEND</span></h2></header><div class="layout-desktop__grid-container"><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:life-and-arts;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="life-and-arts" data-trackable-context-storygroup-position="0" data-trackable-context-storygroup-siblings="4" class="layout-desktop--full-height"><div class="story-group story-group--featured"><div class="grid grid--1-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="2" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-3"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__image primary-story__image--1-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/5d1d1137-c0ae-476e-941e-6811d59cea28" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fea2f2bae-72e0-46b2-9c99-7d51b9bc7b9f.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fea2f2bae-72e0-46b2-9c99-7d51b9bc7b9f.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fea2f2bae-72e0-46b2-9c99-7d51b9bc7b9f.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down" alt="Confessions of a farmer’s daughter" class="image image--width-280" loading="lazy"/></picture></a></div><div class="primary-story__teaser"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/life-arts" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Life &amp; Arts</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="5d1d1137-c0ae-476e-941e-6811d59cea28" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/5d1d1137-c0ae-476e-941e-6811d59cea28" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="icon icon--opinion icon--scale-3"> <span class="o-normalise-visually-hidden">opinion content. </span></span></span><span class="text text--color-black text-display--scale-3 text--weight-400" id="">Confessions of a farmer’s daughter</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/5d1d1137-c0ae-476e-941e-6811d59cea28" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">I know the benefits of agricultural relief</span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__opinion"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2Ffthead-v1_jo-ellison-ca2e6ed6-95f0-42dc-b49a-e8946302e1fa.png?source=next-home-page&amp;dpr=2&amp;width=40&amp;height=40&amp;fit=cover&amp;gravity=poi"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2Ffthead-v1_jo-ellison-ca2e6ed6-95f0-42dc-b49a-e8946302e1fa.png?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2Ffthead-v1_jo-ellison-ca2e6ed6-95f0-42dc-b49a-e8946302e1fa.png?source=next-home-page&amp;dpr=2&amp;width=40&amp;height=40&amp;fit=cover&amp;gravity=poi" alt="" class="image image--width-40"/></picture><div class="author-opinion-details"><a data-trackable="author-link" data-trackable-context-story-link="author-link" href="https://www.ft.com/jo-ellison" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Jo Ellison</span></a></div></div></div></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="1" data-trackable-context-story-siblings="2" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="5397c8a9-f9b3-40e6-b4f2-fa224e2b96a1" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/5397c8a9-f9b3-40e6-b4f2-fa224e2b96a1" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-2 text--weight-600" id="">Lunch with the FT. </span></span><span class="text text--color-black text-display--scale-2 text--weight-400" id="">António Costa: ‘Why would Trump want a trade war with Europe?’ </span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-4 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:life-and-arts;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="life-and-arts" data-trackable-context-storygroup-position="1" data-trackable-context-storygroup-siblings="4" class="layout-desktop--full-height"><div class="story-group story-group--featured"><div class="grid grid--1-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="2" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-3"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__image primary-story__image--1-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/17e75a93-d9d1-4e83-a3f9-c7df1edaf298" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fed68d962-71cf-46e6-8ec7-1b08c1734958.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fed68d962-71cf-46e6-8ec7-1b08c1734958.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fed68d962-71cf-46e6-8ec7-1b08c1734958.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down" alt="Annie Leibovitz isn’t ready to relax yet" class="image image--width-280" loading="lazy"/></picture></a></div><div class="primary-story__teaser"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/life-arts" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Life &amp; Arts</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="17e75a93-d9d1-4e83-a3f9-c7df1edaf298" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/17e75a93-d9d1-4e83-a3f9-c7df1edaf298" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-3 text--weight-600" id="">FT Magazine. </span></span><span class="text text--color-black text-display--scale-3 text--weight-400" id="">Annie Leibovitz isn’t ready to relax yet</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/17e75a93-d9d1-4e83-a3f9-c7df1edaf298" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">With her new exhibition the photographer who defined celebrity is looking to her legacy</span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="1" data-trackable-context-story-siblings="2" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="754e598e-e96d-4a32-b4d2-a949f762b537" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/754e598e-e96d-4a32-b4d2-a949f762b537" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-400" id="">What are banks doing with your financial data?</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-7 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:house-and-home;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="house-and-home" data-trackable-context-storygroup-position="2" data-trackable-context-storygroup-siblings="4" class="layout-desktop--full-height"><div class="story-group story-group--featured"><div class="grid grid--1-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="2" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-3"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__image primary-story__image--1-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/8cec850d-df7a-4cc8-8b50-43290443bca6" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Ff24f1a6f-8e92-4a0d-bad8-e38968e9b8ae.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Ff24f1a6f-8e92-4a0d-bad8-e38968e9b8ae.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Ff24f1a6f-8e92-4a0d-bad8-e38968e9b8ae.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down" alt="Mareterra takes Monaco into new waters" class="image image--width-280" loading="lazy"/></picture></a></div><div class="primary-story__teaser"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/house-home" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">House &amp; Home</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="8cec850d-df7a-4cc8-8b50-43290443bca6" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/8cec850d-df7a-4cc8-8b50-43290443bca6" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-400" id="">Mareterra takes Monaco into new waters</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/8cec850d-df7a-4cc8-8b50-43290443bca6" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">From the 1920s, the principality has expanded its borders by building in the only direction it can: into the sea. Its latest land reclamation takes its real estate into new territory in more ways than one</span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="1" data-trackable-context-story-siblings="2" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="a6964236-09d2-42c5-b37e-0fd8b30db7ec" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/a6964236-09d2-42c5-b37e-0fd8b30db7ec" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-400" id="">Tove Jansson — more than just the Moomins</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-10 layout-desktop__grid--row-start-1 layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:most-read;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="most-read" data-trackable-context-storygroup-position="3" data-trackable-context-storygroup-siblings="4" class="layout-desktop--full-height"><div class="list list--vertical"><h2 class="list__title">Most read</h2><ol class="list__items-wrapper"><li><div data-trackable="story:list" data-trackable-context-story-type="list" data-trackable-context-story-position="0" data-trackable-context-story-siblings="5" data-id="most-read-id" data-name="list" data-type="list" data-subtype="most-read" class="list__item"><div class="list__item-link"><div class="headline js-teaser-headline headline--scale-0 headline--color-black" data-content-id="f2a37821-a373-4ee8-8491-1cb49460f17a" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/f2a37821-a373-4ee8-8491-1cb49460f17a" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-0 text--weight-500" id="">Trump picks Scott Bessent as Treasury secretary</span></a></div></div></div></li><li><div data-trackable="story:list" data-trackable-context-story-type="list" data-trackable-context-story-position="1" data-trackable-context-story-siblings="5" data-id="most-read-id" data-name="list" data-type="list" data-subtype="most-read" class="list__item"><div class="list__item-link"><div class="headline js-teaser-headline headline--scale-0 headline--color-black" data-content-id="91865463-4b93-448c-95bb-8525ccb1016e" data-is-exclusive="false" data-is-scoop="true"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/91865463-4b93-448c-95bb-8525ccb1016e" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-0 text--weight-500" id="">Brits retiring abroad could avoid UK inheritance tax under new loophole</span></a></div></div></div></li><li><div data-trackable="story:list" data-trackable-context-story-type="list" data-trackable-context-story-position="2" data-trackable-context-story-siblings="5" data-id="most-read-id" data-name="list" data-type="list" data-subtype="most-read" class="list__item list__item--pointcut"><div class="list__item-link"><div class="headline js-teaser-headline headline--scale-0 headline--color-black" data-content-id="e1b52147-c171-4902-8bce-204ba0905912" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/e1b52147-c171-4902-8bce-204ba0905912" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-0 text--weight-500" id="">Meta loses ground to Bluesky as users abandon Elon Musk’s X </span></a></div></div></div></li><li><div data-trackable="story:list" data-trackable-context-story-type="list" data-trackable-context-story-position="3" data-trackable-context-story-siblings="5" data-id="most-read-id" data-name="list" data-type="list" data-subtype="most-read" class="list__item"><div class="list__item-link"><div class="headline js-teaser-headline headline--scale-0 headline--color-black" data-content-id="8cc39e9f-d050-4f46-9187-aed5ae32b2cb" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/8cc39e9f-d050-4f46-9187-aed5ae32b2cb" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-0 text--weight-500" id="">The myths that made Elon Musk </span></a></div></div></div></li><li><div data-trackable="story:list" data-trackable-context-story-type="list" data-trackable-context-story-position="4" data-trackable-context-story-siblings="5" data-id="most-read-id" data-name="list" data-type="list" data-subtype="most-read" class="list__item"><div class="list__item-link"><div class="headline js-teaser-headline headline--scale-0 headline--color-black" data-content-id="22df8cf6-d224-4ce8-8d73-a5e3f995fc2c" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/22df8cf6-d224-4ce8-8d73-a5e3f995fc2c" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-0 text--weight-500" id="">Goldman Sachs takes $900mn hit on Northvolt investment</span></a></div></div></div></li></ol></div></div></div></div></div></div></section></div><div data-trackable="list:top-stories;listTitle:news" data-trackable-context-list-type="top-stories" data-trackable-context-list-position="9" data-trackable-context-list-siblings="21" class="story-group-slice"><section class="slice top-stories-slice slice--default"><div class="slice__content"><div class="separator--dotted"></div><header id="news" class="slice-heading"><h2 class="slice-heading__title"><span class="text text--color-black-80 text-sans--scale-0" id="">NEWS</span></h2></header><div class="layout-desktop__grid-container"><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:middle-east-war;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="middle-east-war" data-trackable-context-storygroup-position="0" data-trackable-context-storygroup-siblings="4" class="layout-desktop--full-height"><div class="story-group"><div class="grid grid--1-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="1" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-3"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__image primary-story__image--1-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/9863f2f2-d731-4c93-b131-977d96f9bd2d" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F63e97a02-14aa-4a12-b020-eb9a7c89668b.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F63e97a02-14aa-4a12-b020-eb9a7c89668b.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F63e97a02-14aa-4a12-b020-eb9a7c89668b.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down" alt="Israel fights Hizbollah at Lebanese crusader castle as forces push north" class="image image--width-280" loading="lazy"/></picture></a></div><div class="primary-story__teaser"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/middle-east-war" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Middle East war</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="9863f2f2-d731-4c93-b131-977d96f9bd2d" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/9863f2f2-d731-4c93-b131-977d96f9bd2d" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-500" id="">Israel fights Hizbollah at Lebanese crusader castle as forces push north</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/9863f2f2-d731-4c93-b131-977d96f9bd2d" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Fierce clashes in Chamaa injured four UN peacekeepers on Friday in one of Israel’s deepest advances into the country so far</span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-4 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:uk-banks;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="uk-banks" data-trackable-context-storygroup-position="1" data-trackable-context-storygroup-siblings="4" class="layout-desktop--full-height"><div class="story-group"><div class="grid grid--1-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="1" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-3"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__image primary-story__image--1-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/ca809d14-5fb1-4586-b1ae-bf8ccae7d300" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F0eada235-300f-49ea-8c00-ca6c8221d37d.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F0eada235-300f-49ea-8c00-ca6c8221d37d.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F0eada235-300f-49ea-8c00-ca6c8221d37d.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down" alt="Ex-Barclays chief John Varley pulled back into fight to clear bank’s name" class="image image--width-280" loading="lazy"/></picture></a></div><div class="primary-story__teaser"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/uk-banks" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">UK banks</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="ca809d14-5fb1-4586-b1ae-bf8ccae7d300" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/ca809d14-5fb1-4586-b1ae-bf8ccae7d300" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-500" id="">Ex-Barclays chief John Varley pulled back into fight to clear bank’s name</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/ca809d14-5fb1-4586-b1ae-bf8ccae7d300" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Financial Conduct Authority fined lender £50mn over 2008 emergency fundraising</span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-7 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:media;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="media" data-trackable-context-storygroup-position="2" data-trackable-context-storygroup-siblings="4" class="layout-desktop--full-height"><div class="story-group"><div class="grid grid--1-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="2" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-3"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__image primary-story__image--1-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/97050b29-02bf-4a2c-8629-9d1c8509dc55" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F29c1816e-d991-4c80-9d54-95a530290993.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F29c1816e-d991-4c80-9d54-95a530290993.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F29c1816e-d991-4c80-9d54-95a530290993.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down" alt="Hollywood gives thanks for blockbusters after long lean period" class="image image--width-280" loading="lazy"/></picture></a></div><div class="primary-story__teaser"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/media" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Media</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="97050b29-02bf-4a2c-8629-9d1c8509dc55" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/97050b29-02bf-4a2c-8629-9d1c8509dc55" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-500" id="">Hollywood gives thanks for blockbusters after long lean period</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/97050b29-02bf-4a2c-8629-9d1c8509dc55" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Studios bet ‘Wicked’, ‘Gladiator II’ and ‘Moana 2’ will kick off a strong holiday season at the box office</span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="1" data-trackable-context-story-siblings="2" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="e0a50aac-c88e-48fb-aad5-f75f752c64f2" data-is-exclusive="false" data-is-scoop="true"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/e0a50aac-c88e-48fb-aad5-f75f752c64f2" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Former UK chancellor Zahawi and billionaire Mansour join bid for Telegraph</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"><div class="timestamp"><time class="timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-4-hours" dateTime="2024-11-23T17:39:03+0000">2 hours ago</time></div></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-10 layout-desktop__grid--row-start-1 layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:sovereign-debt;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="sovereign-debt" data-trackable-context-storygroup-position="3" data-trackable-context-storygroup-siblings="4" class="layout-desktop--full-height"><div class="story-group"><div class="grid grid--1-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="2" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-3"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__image primary-story__image--1-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/cbc6cbb8-a91c-48b5-922e-ca5246956b2b" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F452ebd5d-4f6f-4ad4-992a-c03d0024a001.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F452ebd5d-4f6f-4ad4-992a-c03d0024a001.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F452ebd5d-4f6f-4ad4-992a-c03d0024a001.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down" alt="German bond investors bet on an end to Berlin’s ‘debt brake’ " class="image image--width-280" loading="lazy"/></picture></a></div><div class="primary-story__teaser"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/sovereign-debt" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Sovereign debt</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="cbc6cbb8-a91c-48b5-922e-ca5246956b2b" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/cbc6cbb8-a91c-48b5-922e-ca5246956b2b" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-3 text--weight-600" id="">Charts that Matter. </span></span><span class="text text--color-black text-display--scale-3 text--weight-500" id="">German bond investors bet on an end to Berlin’s ‘debt brake’ </span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/cbc6cbb8-a91c-48b5-922e-ca5246956b2b" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">A key indicator has fallen below zero for the first time as market braces for higher German borrowing</span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="1" data-trackable-context-story-siblings="2" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="84110adc-5087-4921-ad08-49baba331fbe" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/84110adc-5087-4921-ad08-49baba331fbe" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Strong dollar set to hit emerging market bonds, warn investors</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div></div></div></section></div><div data-trackable="list:top-stories;listTitle:empty" data-trackable-context-list-type="top-stories" data-trackable-context-list-position="10" data-trackable-context-list-siblings="21" class="story-group-slice"><section class="slice top-stories-slice slice__no-title slice--default"><div class="slice__content"><div class="separator--solid"></div><div class="layout-desktop__grid-container"><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:cuba;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="cuba" data-trackable-context-storygroup-position="0" data-trackable-context-storygroup-siblings="4" class="layout-desktop--full-height"><div class="story-group"><div class="grid grid--1-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="1" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-3"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__image primary-story__image--1-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/75c830f8-0906-4365-88ba-ba7a7fdf0108" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F18052fc5-a066-4ba1-9c07-7a5affc229ff.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F18052fc5-a066-4ba1-9c07-7a5affc229ff.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F18052fc5-a066-4ba1-9c07-7a5affc229ff.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down" alt="No mojitos and no lights: Cuba’s tourism industry fights losing battle" class="image image--width-280" loading="lazy"/></picture></a></div><div class="primary-story__teaser"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/cuba" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Cuba</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="75c830f8-0906-4365-88ba-ba7a7fdf0108" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/75c830f8-0906-4365-88ba-ba7a7fdf0108" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-500" id="">No mojitos and no lights: Cuba’s tourism industry fights losing battle</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/75c830f8-0906-4365-88ba-ba7a7fdf0108" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Power cuts and shortages of basic items plague Communist-ruled island’s vital sector</span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-4 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:poland;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="poland" data-trackable-context-storygroup-position="1" data-trackable-context-storygroup-siblings="4" class="layout-desktop--full-height"><div class="story-group"><div class="grid grid--1-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="2" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-3"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__image primary-story__image--1-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/db73120d-1291-4252-9500-adf32e3b7f7a" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F120ae364-d5cd-46ce-a2d9-107af818e877.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F120ae364-d5cd-46ce-a2d9-107af818e877.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F120ae364-d5cd-46ce-a2d9-107af818e877.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down" alt="Donald Tusk’s ruling party picks Warsaw mayor as Polish presidential candidate" class="image image--width-280" loading="lazy"/></picture></a></div><div class="primary-story__teaser"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/poland" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Poland</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="db73120d-1291-4252-9500-adf32e3b7f7a" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/db73120d-1291-4252-9500-adf32e3b7f7a" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-500" id="">Donald Tusk’s ruling party picks Warsaw mayor as Polish presidential candidate</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/db73120d-1291-4252-9500-adf32e3b7f7a" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Rafał Trzaskowski beats foreign minister Radosław Sikorski in primary contest</span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="1" data-trackable-context-story-siblings="2" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="d5c90ffd-5388-44ab-936e-6558006c9142" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/d5c90ffd-5388-44ab-936e-6558006c9142" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Ukraine-sceptic ‘Trumpist’ gains traction ahead of Romanian vote</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-7 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:retail-and-consumer-industry;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="retail-and-consumer-industry" data-trackable-context-storygroup-position="2" data-trackable-context-storygroup-siblings="4" class="layout-desktop--full-height"><div class="story-group story-group--featured"><div class="grid grid--1-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="1" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-3"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__image primary-story__image--1-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/ecf5bb79-60e7-4778-be5d-24ae92908594" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F102dab9f-b575-45f0-9d18-4fbfbf8c2752.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F102dab9f-b575-45f0-9d18-4fbfbf8c2752.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F102dab9f-b575-45f0-9d18-4fbfbf8c2752.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down" alt="Bitcoin and bananas add a new twist to conspicuous consumption" class="image image--width-280" loading="lazy"/></picture></a></div><div class="primary-story__teaser"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/retail-consumer" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Retail &amp; Consumer industry</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="ecf5bb79-60e7-4778-be5d-24ae92908594" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/ecf5bb79-60e7-4778-be5d-24ae92908594" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="icon icon--opinion icon--scale-3"> <span class="o-normalise-visually-hidden">opinion content. </span></span><span class="text text--color-black text-display--scale-3 text--weight-600" id="">Lex. </span></span><span class="text text--color-black text-display--scale-3 text--weight-400" id="">Bitcoin and bananas add a new twist to conspicuous consumption</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/ecf5bb79-60e7-4778-be5d-24ae92908594" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Both have joined the elite world of useless objects that get desirable as they get pricier</span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-10 layout-desktop__grid--row-start-1 layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:uk-tax;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="uk-tax" data-trackable-context-storygroup-position="3" data-trackable-context-storygroup-siblings="4" class="layout-desktop--full-height"><div id="native-ads-placeholder" class="story-group"><div class="grid grid--1-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-1 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="1" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-3"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__image primary-story__image--1-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/91865463-4b93-448c-95bb-8525ccb1016e" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fd5a9fdd0-008d-4295-a58e-645ffa62a105.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fd5a9fdd0-008d-4295-a58e-645ffa62a105.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fd5a9fdd0-008d-4295-a58e-645ffa62a105.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;fit=scale-down" alt="Brits retiring abroad could avoid UK inheritance tax under new loophole" class="image image--width-280" loading="lazy"/></picture></a></div><div class="primary-story__teaser"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/uk-tax" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">UK tax</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="91865463-4b93-448c-95bb-8525ccb1016e" data-is-exclusive="false" data-is-scoop="true"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/91865463-4b93-448c-95bb-8525ccb1016e" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-500" id="">Brits retiring abroad could avoid UK inheritance tax under new loophole</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/91865463-4b93-448c-95bb-8525ccb1016e" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Budget measure allows anyone staying abroad for 10 years to avoid death duties on global wealth </span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div></div></div></section></div><section class="slice advert-slice slice__no-title"><div class="slice__content"><div class="layout-tablet__grid-container"><div class="layout-tablet__grid layout-tablet__grid--span12 layout-tablet__grid--column-start-1 layout-tablet__grid--row-start-1"><div class="layout__grid-content"><pg-slot data-config-key="mid1"></pg-slot></div></div></div></div></section><div data-trackable="list:opinion" data-trackable-context-list-type="opinion" data-trackable-context-list-position="12" data-trackable-context-list-siblings="21" class="story-group-slice"><section class="slice slice--default"><div class="slice__content"><div class="separator--dotted"></div><header id="opinion" class="slice-heading"><h2 class="slice-heading__title"><a data-trackable="link" data-trackable-context-story-link="link" href="/opinion" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-80 text-sans--scale-0" id="">Opinion</span></a></h2></header><div class="layout-desktop__grid-container"><div class="layout-desktop__grid layout-desktop__grid--span12 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1 layout--default"><div class="layout__grid-content"><div class="layout-desktop--full-height"><div class="layout-desktop__grid-container opinion-section"><div class="layout-desktop__grid layout-desktop__grid--span12 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:storygroup;storyGroup:xlarge" data-trackable-context-list-type="opinion" data-trackable-context-storygroup-size="xlarge" data-trackable-context-storygroup-title="storygroup" data-trackable-context-storygroup-position="0" data-trackable-context-storygroup-siblings="1"><div class="main-opinion-stories main-opinion-stories--theme-featured"><div class="grid grid--12-columns grid--fullHeight"><div class="main-opinion-stories__primary-story"><div data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="2" class="grid grid--9-columns grid--fullHeight"><div class="primary-opinion-story__wrapper"><div class="primary-opinion-story__teaser"><div class="headline js-teaser-headline headline--scale-5 headline--color-black" data-content-id="8292727b-48a9-489a-8b69-443271ba3957" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/8292727b-48a9-489a-8b69-443271ba3957" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="icon icon--opinion icon--scale-5"> <span class="o-normalise-visually-hidden">opinion content. </span></span></span><span class="text text--color-black text-display--scale-5 text--weight-400" id="">Do they know it’s Africa, at all?</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/8292727b-48a9-489a-8b69-443271ba3957" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Ed Sheeran is right — the Christmas classic is painfully out of step with reality, much to the detriment of the continent </span></a></p></div><div class="grid-item grid-item--span-3 grid-item--align-self-end"><div class="metadata metadata__opinion"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2FDavid-Pilling-edc8bdae-36b8-467a-b8bb-df0e37ff35bd.png?source=next-home-page&amp;dpr=2&amp;width=40&amp;height=40&amp;fit=cover&amp;gravity=poi"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2FDavid-Pilling-edc8bdae-36b8-467a-b8bb-df0e37ff35bd.png?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2FDavid-Pilling-edc8bdae-36b8-467a-b8bb-df0e37ff35bd.png?source=next-home-page&amp;dpr=2&amp;width=40&amp;height=40&amp;fit=cover&amp;gravity=poi" alt="" class="image image--width-40"/></picture><div class="author-opinion-details"><a data-trackable="author-link" data-trackable-context-story-link="author-link" href="https://www.ft.com/david-pilling" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">David Pilling</span></a></div></div></div></div><div class="primary-opinion-story__image"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/8292727b-48a9-489a-8b69-443271ba3957" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F9521d2d7-0b9a-4bde-83d0-65e863ee3695.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;height=435&amp;fit=cover&amp;gravity=poi"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F9521d2d7-0b9a-4bde-83d0-65e863ee3695.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F9521d2d7-0b9a-4bde-83d0-65e863ee3695.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;height=435&amp;fit=cover&amp;gravity=poi" alt="Do they know it’s Africa, at all?" class="image image--width-580"/></picture></a></div></div></div><div class="main-opinion-stories__secondary-story"><div class="separator--solid"></div><div data-trackable-context-story-type="secondary" data-trackable-context-story-position="1" data-trackable-context-story-siblings="2" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-3"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__teaser"><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="a3a329ee-8c9a-4abd-add2-eb7d56f4c108" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/a3a329ee-8c9a-4abd-add2-eb7d56f4c108" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="icon icon--opinion icon--scale-3"> <span class="o-normalise-visually-hidden">opinion content. </span></span></span><span class="text text--color-black text-display--scale-3 text--weight-500" id="">What Trump means for Silicon Valley</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/a3a329ee-8c9a-4abd-add2-eb7d56f4c108" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">I expect the administration, with the advice of Elon Musk, will adopt a mercantilist AI policy</span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata"><a data-trackable="author-link" data-trackable-context-story-link="author-link" href="https://www.ft.com/stream/f26b6f98-4605-311e-9746-95665be035d7" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Reid Hoffman</span></a></div></div></div></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span12 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-2 layout-desktop__grid--with-padding"><div class="separator--solid"></div></div><div class="layout-desktop__grid layout-desktop__grid--span9 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-3 layout-desktop__grid--with-border"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:storygroup;storyGroup:large" data-trackable-context-list-type="opinion" data-trackable-context-storygroup-size="large" data-trackable-context-storygroup-title="storygroup" data-trackable-context-storygroup-position="0" data-trackable-context-storygroup-siblings="2"><div class="story-group story-group--skip-primary-story"><div class="grid grid--3-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="0" data-trackable-context-story-siblings="6" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="1cfa6b3e-16c2-41e9-a1f6-fc90afaa7a98" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/1cfa6b3e-16c2-41e9-a1f6-fc90afaa7a98" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="icon icon--opinion icon--scale-2"> <span class="o-normalise-visually-hidden">opinion content. </span></span></span><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Globalisation is not dead — it’s just changed</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__opinion"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2Ffthead-v1_gillian-tett-0df947ec-cd61-4d74-b2d8-e5f832415f1a.png?source=next-home-page&amp;dpr=2&amp;width=40&amp;height=40&amp;fit=cover&amp;gravity=poi"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2Ffthead-v1_gillian-tett-0df947ec-cd61-4d74-b2d8-e5f832415f1a.png?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2Ffthead-v1_gillian-tett-0df947ec-cd61-4d74-b2d8-e5f832415f1a.png?source=next-home-page&amp;dpr=2&amp;width=40&amp;height=40&amp;fit=cover&amp;gravity=poi" alt="" class="image image--width-40"/></picture><div class="author-opinion-details"><a data-trackable="author-link" data-trackable-context-story-link="author-link" href="https://www.ft.com/gillian-tett" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Gillian Tett</span></a></div></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-2"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="1" data-trackable-context-story-siblings="6" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="6f1984d1-8d19-43b1-a3cd-0f7ba9cbdd85" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/6f1984d1-8d19-43b1-a3cd-0f7ba9cbdd85" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="icon icon--opinion icon--scale-2"> <span class="o-normalise-visually-hidden">opinion content. </span></span><span class="text text--color-black text-display--scale-2 text--weight-600" id="">The Long View. </span></span><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Tina is back: Investors say there is no alternative to US equities</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__opinion"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2FKatie-Martin-749bf9e1-1d4d-4141-a8c9-bf6a56249292.png?source=next-home-page&amp;dpr=2&amp;width=40&amp;height=40&amp;fit=cover&amp;gravity=poi"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2FKatie-Martin-749bf9e1-1d4d-4141-a8c9-bf6a56249292.png?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2FKatie-Martin-749bf9e1-1d4d-4141-a8c9-bf6a56249292.png?source=next-home-page&amp;dpr=2&amp;width=40&amp;height=40&amp;fit=cover&amp;gravity=poi" alt="" class="image image--width-40"/></picture><div class="author-opinion-details"><a data-trackable="author-link" data-trackable-context-story-link="author-link" href="https://www.ft.com/katie-martin" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Katie Martin</span></a></div></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-3 story-group--end-of-row"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="2" data-trackable-context-story-siblings="6" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="293a5f6a-9cf8-45f7-bf97-bb438140a104" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/293a5f6a-9cf8-45f7-bf97-bb438140a104" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="icon icon--opinion icon--scale-2"> <span class="o-normalise-visually-hidden">opinion content. </span></span></span><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Britain’s national security demands more than a defence review</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata"><a data-trackable="author-link" data-trackable-context-story-link="author-link" href="https://www.ft.com/philip-stephens" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Philip Stephens</span></a></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-1"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="3" data-trackable-context-story-siblings="6" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="c01c74e4-eda0-4752-ac51-cf2c694ab32f" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/c01c74e4-eda0-4752-ac51-cf2c694ab32f" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-2 text--weight-600" id="">Obituary. </span></span><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Thomas Kurtz, mathematician, 1928-2024</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-2"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="4" data-trackable-context-story-siblings="6" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="4b8d2b1a-a68b-4505-992f-743fae37e84d" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/4b8d2b1a-a68b-4505-992f-743fae37e84d" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="icon icon--opinion icon--scale-2"> <span class="o-normalise-visually-hidden">opinion content. </span></span><span class="text text--color-black text-display--scale-2 text--weight-600" id="">The FT View. </span></span><span class="text text--color-black text-display--scale-2 text--weight-500" id="">The unravelling of the international legal order</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata"><a data-trackable="author-link" data-trackable-context-story-link="author-link" href="https://www.ft.com/ft-view" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">The editorial board</span></a></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-3 story-group--end-of-row"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="5" data-trackable-context-story-siblings="6" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="f9eccbf3-0f71-4d7f-ad69-b9181e84cc7e" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/f9eccbf3-0f71-4d7f-ad69-b9181e84cc7e" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="icon icon--opinion icon--scale-2"> <span class="o-normalise-visually-hidden">opinion content. </span></span></span><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Britain is being stalked by the spectre of stagflation</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata"><a data-trackable="author-link" data-trackable-context-story-link="author-link" href="https://www.ft.com/stream/56c51dc3-b707-4398-ac4b-da5ce97bc171" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">DeAnne Julius</span></a></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-10 layout-desktop__grid--row-start-3"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:opinion;storyGroup:small" data-trackable-context-list-type="opinion" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="opinion" data-trackable-context-storygroup-position="1" data-trackable-context-storygroup-siblings="2"><div class="list list--vertical"><h3 class="text text--color-black text-sans--scale-0 text--weight-600" id="">More Opinion</h3><ul class="list__items-wrapper"><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="0" data-trackable-context-story-siblings="5" data-id="opinion-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/ft-view" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">The FT View</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="1" data-trackable-context-story-siblings="5" data-id="opinion-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/lex" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Lex</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="2" data-trackable-context-story-siblings="5" data-id="opinion-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/unhedged" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Unhedged</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="3" data-trackable-context-story-siblings="5" data-id="opinion-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/markets/insight" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Markets Insight</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="4" data-trackable-context-story-siblings="5" data-id="opinion-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/companies/inside-business" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Inside Business</span></a></div></div></li></ul></div></div></div></div></div></div></div></div></div></div></section></div><div data-trackable="list:asia-pacific-news" data-trackable-context-list-type="asia-pacific-news" data-trackable-context-list-position="13" data-trackable-context-list-siblings="21" class="story-group-slice"><section class="slice slice--default"><div class="slice__content"><div class="separator--dotted"></div><header id="asia-pacific-news" class="slice-heading"><h2 class="slice-heading__title"><a data-trackable="link" data-trackable-context-story-link="link" href="/world/asia-pacific" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-80 text-sans--scale-0" id="">Asia-Pacific News</span></a></h2></header><div class="layout-desktop__grid-container"><div class="layout-desktop__grid layout-desktop__grid--span9 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:storygroup;storyGroup:large" data-trackable-context-storygroup-size="large" data-trackable-context-storygroup-title="storygroup" data-trackable-context-storygroup-position="0" data-trackable-context-storygroup-siblings="2" class="layout-desktop--full-height"><div class="story-group"><div class="grid grid--3-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-3 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="7" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-1"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__teaser"><div class="headline js-teaser-headline headline--scale-4 headline--color-black" data-content-id="ac17ef21-7a9d-4366-9b9e-343489785f9b" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/ac17ef21-7a9d-4366-9b9e-343489785f9b" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-4 text--weight-600" id="">Corporate Person in the News. </span></span><span class="text text--color-black text-display--scale-4 text--weight-500" id="">Samsung’s princeling heir Lee Jae-yong grapples with corporate crisis</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/ac17ef21-7a9d-4366-9b9e-343489785f9b" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Chip woes and labour unrest test the mettle of third-generation leader of South Korea’s most valuable company </span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="primary-story__image primary-story__image--3-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/ac17ef21-7a9d-4366-9b9e-343489785f9b" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F0c107617-417e-476c-9096-9e62b40c4391.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F0c107617-417e-476c-9096-9e62b40c4391.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F0c107617-417e-476c-9096-9e62b40c4391.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down" alt="Samsung’s princeling heir Lee Jae-yong grapples with corporate crisis" class="image image--width-580" loading="lazy"/></picture></a></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-1"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="1" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="c98b9d4b-ac76-4931-821c-ddf7a6283180" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/c98b9d4b-ac76-4931-821c-ddf7a6283180" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">China ‘willing’ to engage in Trump dialogue as it backs exporters</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-2"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="2" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="de97f489-f3ab-4148-98c9-3c518b878d35" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/de97f489-f3ab-4148-98c9-3c518b878d35" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Foreigners dump Chinese government bonds as popular trade unwinds</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-3 story-group--end-of-row"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="3" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="3a285234-bada-400c-a119-9393c767181e" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/3a285234-bada-400c-a119-9393c767181e" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">US indictment of Gautam Adani puts India Inc’s reputation on trial</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-3 story-group--column-start-1"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="4" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="af680581-9944-40aa-aeeb-30bc6a302aca" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/af680581-9944-40aa-aeeb-30bc6a302aca" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Chinese satellite company to challenge Musk’s Starlink in Brazil</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-3 story-group--column-start-2"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="5" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="495c6fdd-7a2a-44ae-8e93-debd89f22313" data-is-exclusive="false" data-is-scoop="true"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/495c6fdd-7a2a-44ae-8e93-debd89f22313" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Three Bank of America bankers in India depart over alleged client tips </span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-3 story-group--column-start-3 story-group--end-of-row"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="6" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="a5fe8400-0a22-4b56-95e0-e35f3150aa09" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/a5fe8400-0a22-4b56-95e0-e35f3150aa09" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">New Zealand’s post-Ardern populist pivot angers Maori community</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-10 layout-desktop__grid--row-start-1 layout--default"><div class="layout__grid-content"><div data-trackable="group:asia-pacific-news;groupSize:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="asia-pacific-news" data-trackable-context-storygroup-position="1" data-trackable-context-storygroup-siblings="2" class="layout-desktop--full-height"><div class="links-promo"><div class="list list--vertical"><h3 class="text text--color-black text-sans--scale-0 text--weight-600" id="">More Asia-Pacific News</h3><ul class="list__items-wrapper"><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="0" data-trackable-context-story-siblings="5" data-id="asia-news-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/asia-pacific-economy" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Asia-Pacific economy</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="1" data-trackable-context-story-siblings="5" data-id="asia-news-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/companies/asia-pacific" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Asia-Pacific companies</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="2" data-trackable-context-story-siblings="5" data-id="asia-news-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/asia-pacific-equities" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Asia-Pacific equities</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="3" data-trackable-context-story-siblings="5" data-id="asia-news-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/world/asia-pacific/china" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">China</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="4" data-trackable-context-story-siblings="5" data-id="asia-news-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/india" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">India</span></a></div></div></li></ul></div><div data-trackable="story:related-promo" data-trackable-context-story-type="related-promo" data-trackable-context-story-position="0" data-trackable-context-story-siblings="1" class="promo__links"><div class="promo__links-text"><a data-trackable="related-promo-link" data-trackable-context-story-link="related-promo-link" href="https://ep.ft.com/newsletters/subscribe?newsletterIds=5e67775d8bb28f00049b0f76" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-700" id="">Newswrap</span><span class="promo__links--spacing"><span class="text text--color-teal text-sans--scale-0" id="">Sign up for our newsletter</span></span></a></div><div class="promo__links-image"><a data-trackable="related-promo-link" data-trackable-context-story-link="related-promo-link" href="https://ep.ft.com/newsletters/subscribe?newsletterIds=5e67775d8bb28f00049b0f76" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fwww.ft.com%2F__assets%2Fcreatives%2Fhomepage-beta%2Fnewswrap.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;height=280&amp;fit=cover&amp;gravity=poi"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fwww.ft.com%2F__assets%2Fcreatives%2Fhomepage-beta%2Fnewswrap.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fwww.ft.com%2F__assets%2Fcreatives%2Fhomepage-beta%2Fnewswrap.jpg?source=next-home-page&amp;dpr=2&amp;width=280&amp;height=280&amp;fit=cover&amp;gravity=poi" alt="Newswrap Newsletter" class="image image--width-280"/></picture></a></div></div></div></div></div></div></div></div></section></div><div data-trackable="list:podcasts" data-trackable-context-list-type="podcasts" data-trackable-context-list-position="14" data-trackable-context-list-siblings="21" class="story-group-slice"><section class="slice story-group-named-slice slice--full-bleed slice--full-bleed--less-top-padding slice--impact"><div class="slice__content"><header id="podcasts" class="slice-heading"><h2 class="slice-heading__title"><a data-trackable="link" data-trackable-context-story-link="link" href="/podcasts" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-80 text-sans--scale-0" id="">Podcasts</span></a></h2></header><div class="layout-desktop__grid-container"><div class="layout-desktop__grid layout-desktop__grid--span12 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1 layout--impact"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:storycollection;storyGroup:xlarge" data-trackable-context-storygroup-size="xlarge" data-trackable-context-storygroup-title="storycollection" data-trackable-context-storygroup-position="0" data-trackable-context-storygroup-siblings="1" class="layout-desktop--full-height"><div class="layout-desktop__grid-container story-collection"><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1"><div class="layout__grid-content"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="4" class="grid grid--1-columns grid--s3-spacing grid--fullHeight"><div class="podcast__article-wrapper"><div class="grid-item grid-item--span-3 podcast__image"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/676200d9-2f8b-496b-8bcb-3c55bf7b795d" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2Fd35ab270-49d5-4b58-91dc-874de5e51558?source=next-home-page&amp;dpr=2&amp;width=180&amp;height=180&amp;fit=cover&amp;gravity=poi"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2Fd35ab270-49d5-4b58-91dc-874de5e51558?source=next-home-page&amp;dpr=2&amp;width=580&amp;height=580&amp;fit=cover&amp;gravity=poi"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2Fd35ab270-49d5-4b58-91dc-874de5e51558?source=next-home-page&amp;dpr=2&amp;width=180&amp;height=180&amp;fit=cover&amp;gravity=poi" alt="FT News Briefing podcast" class="image image--width-180"/></picture></a></div><div class="grid-item grid-item--span-3 podcast__content"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/676200d9-2f8b-496b-8bcb-3c55bf7b795d" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-2 text--weight-600" id="">FT News Briefing. </span></span><span class="text text--color-black text-display--scale-2 text--weight-400" id="">Swamp Notes: Anthony Scaramucci unpacks Trump’s cabinet</span></a></div><div class="podcast__suffix"><span class="text text--color-black-60 text-sans--scale-0" id="">19 min listen</span></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-4 layout-desktop__grid--row-start-1"><div class="layout__grid-content"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="1" data-trackable-context-story-siblings="4" class="grid grid--1-columns grid--s3-spacing grid--fullHeight"><div class="podcast__article-wrapper"><div class="grid-item grid-item--span-3 podcast__image"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/aed82961-9fc5-45e4-871f-f37afdd720fb" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2F250b1621-7bc2-410e-aaa6-e7dee79e07c1?source=next-home-page&amp;dpr=2&amp;width=180&amp;height=180&amp;fit=cover&amp;gravity=poi"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2F250b1621-7bc2-410e-aaa6-e7dee79e07c1?source=next-home-page&amp;dpr=2&amp;width=580&amp;height=580&amp;fit=cover&amp;gravity=poi"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2F250b1621-7bc2-410e-aaa6-e7dee79e07c1?source=next-home-page&amp;dpr=2&amp;width=180&amp;height=180&amp;fit=cover&amp;gravity=poi" alt="Life and Art from FT Weekend podcast" class="image image--width-180"/></picture></a></div><div class="grid-item grid-item--span-3 podcast__content"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/aed82961-9fc5-45e4-871f-f37afdd720fb" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-2 text--weight-600" id="">Life and Art from FT Weekend. </span></span><span class="text text--color-black text-display--scale-2 text--weight-400" id="">Culture chat: ‘Wicked’ hits the high notes</span></a></div><div class="podcast__suffix"><span class="text text--color-black-60 text-sans--scale-0" id="">29 min listen</span></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-7 layout-desktop__grid--row-start-1"><div class="layout__grid-content"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="2" data-trackable-context-story-siblings="4" class="grid grid--1-columns grid--s3-spacing grid--fullHeight"><div class="podcast__article-wrapper"><div class="grid-item grid-item--span-3 podcast__image"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/2e99fa32-155b-40d9-a5c3-115631153cba" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2F4fb15827-6092-4461-91b0-37025249056d?source=next-home-page&amp;dpr=2&amp;width=180&amp;height=180&amp;fit=cover&amp;gravity=poi"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2F4fb15827-6092-4461-91b0-37025249056d?source=next-home-page&amp;dpr=2&amp;width=580&amp;height=580&amp;fit=cover&amp;gravity=poi"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2F4fb15827-6092-4461-91b0-37025249056d?source=next-home-page&amp;dpr=2&amp;width=180&amp;height=180&amp;fit=cover&amp;gravity=poi" alt="FT News Briefing podcast" class="image image--width-180"/></picture></a></div><div class="grid-item grid-item--span-3 podcast__content"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/2e99fa32-155b-40d9-a5c3-115631153cba" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-2 text--weight-600" id="">FT News Briefing. </span></span><span class="text text--color-black text-display--scale-2 text--weight-400" id="">US hits Gautam Adani with bribery charges</span></a></div><div class="podcast__suffix"><span class="text text--color-black-60 text-sans--scale-0" id="">12 min listen</span></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-10 layout-desktop__grid--row-start-1"><div class="layout__grid-content"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="3" data-trackable-context-story-siblings="4" class="grid grid--1-columns grid--s3-spacing grid--fullHeight"><div class="podcast__article-wrapper"><div class="grid-item grid-item--span-3 podcast__image"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/d25fa5db-327e-4e52-8c2e-25a7942081c8" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2F31adc2d9-eff9-402d-bfb2-d893828bb480?source=next-home-page&amp;dpr=2&amp;width=180&amp;height=180&amp;fit=cover&amp;gravity=poi"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2F31adc2d9-eff9-402d-bfb2-d893828bb480?source=next-home-page&amp;dpr=2&amp;width=580&amp;height=580&amp;fit=cover&amp;gravity=poi"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2F31adc2d9-eff9-402d-bfb2-d893828bb480?source=next-home-page&amp;dpr=2&amp;width=180&amp;height=180&amp;fit=cover&amp;gravity=poi" alt="Unhedged Podcast" class="image image--width-180"/></picture></a></div><div class="grid-item grid-item--span-3 podcast__content"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/d25fa5db-327e-4e52-8c2e-25a7942081c8" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-2 text--weight-600" id="">Unhedged Podcast. </span></span><span class="text text--color-black text-display--scale-2 text--weight-400" id="">Looking at 2025 </span></a></div><div class="podcast__suffix"><span class="text text--color-black-60 text-sans--scale-0" id="">25 min listen</span></div></div></div></div></div></div></div></div></div></div></div></div></section></div><div data-trackable="list:life-and-arts" data-trackable-context-list-type="life-and-arts" data-trackable-context-list-position="15" data-trackable-context-list-siblings="21" class="story-group-slice"><section class="slice story-group-named-slice slice--default slice--has-sub-navigation"><div class="slice__content"><div class="separator--dotted"></div><header id="life-and-arts" class="slice-heading"><h2 class="slice-heading__title"><a data-trackable="link" data-trackable-context-story-link="link" href="/life-arts" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-80 text-sans--scale-0" id="">Life &amp; Arts</span></a></h2></header><div class="layout-desktop__grid-container"><div class="layout-desktop__grid layout-desktop__grid--span12 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1 layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:list;storyGroup:xlarge" data-trackable-context-storygroup-size="xlarge" data-trackable-context-storygroup-title="list" data-trackable-context-storygroup-position="0" data-trackable-context-storygroup-siblings="1" class="layout-desktop--full-height"><div class="list list--horizontal"><ul class="list__items-wrapper"><li><div data-trackable="story:list" data-trackable-context-story-type="list" data-trackable-context-story-position="0" data-trackable-context-story-siblings="9" data-id="life-and-arts-links" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/arts" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Arts</span></a></div></div></li><li><div data-trackable="story:list" data-trackable-context-story-type="list" data-trackable-context-story-position="1" data-trackable-context-story-siblings="9" data-id="life-and-arts-links" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/books" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Books</span></a></div></div></li><li><div data-trackable="story:list" data-trackable-context-story-type="list" data-trackable-context-story-position="2" data-trackable-context-story-siblings="9" data-id="life-and-arts-links" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/food-drink" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Food &amp; Drink</span></a></div></div></li><li><div data-trackable="story:list" data-trackable-context-story-type="list" data-trackable-context-story-position="3" data-trackable-context-story-siblings="9" data-id="life-and-arts-links" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/magazine" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">FT Magazine</span></a></div></div></li><li><div data-trackable="story:list" data-trackable-context-story-type="list" data-trackable-context-story-position="4" data-trackable-context-story-siblings="9" data-id="life-and-arts-links" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/style" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Style</span></a></div></div></li><li><div data-trackable="story:list" data-trackable-context-story-type="list" data-trackable-context-story-position="5" data-trackable-context-story-siblings="9" data-id="life-and-arts-links" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/house-home" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">House &amp; Home</span></a></div></div></li><li><div data-trackable="story:list" data-trackable-context-story-type="list" data-trackable-context-story-position="6" data-trackable-context-story-siblings="9" data-id="life-and-arts-links" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/travel" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Travel</span></a></div></div></li><li><div data-trackable="story:list" data-trackable-context-story-type="list" data-trackable-context-story-position="7" data-trackable-context-story-siblings="9" data-id="life-and-arts-links" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/globetrotter" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">FT Globetrotter</span></a></div></div></li><li><div data-trackable="story:list" data-trackable-context-story-type="list" data-trackable-context-story-position="8" data-trackable-context-story-siblings="9" data-id="life-and-arts-links" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/htsi" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">HTSI</span></a></div></div></li></ul></div></div></div></div></div></div></section></div><div data-trackable="list:life-and-arts" data-trackable-context-list-type="life-and-arts" data-trackable-context-list-position="16" data-trackable-context-list-siblings="21" class="story-group-slice"><section class="slice story-group-named-slice slice__no-title slice--default"><div class="slice__content"><div class="layout-desktop__grid-container"><div class="layout-desktop__grid layout-desktop__grid--span12 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1 layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:storycollection;storyGroup:xlarge" data-trackable-context-storygroup-size="xlarge" data-trackable-context-storygroup-title="storycollection" data-trackable-context-storygroup-position="0" data-trackable-context-storygroup-siblings="1" class="layout-desktop--full-height"><div class="layout-desktop__grid-container story-collection"><div class="layout-desktop__grid layout-desktop__grid--span6 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1"><div class="layout__grid-content"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="5" class="featured-story"><div class="featured-story__image"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/250d98f2-dd3c-46db-8b65-92e79b488c37" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F3d1468ed-aac8-45df-827a-5cef7d781d88.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F3d1468ed-aac8-45df-827a-5cef7d781d88.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F3d1468ed-aac8-45df-827a-5cef7d781d88.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down" alt="How to host it – a winter feasting special" class="image image--width-580"/></picture></a></div><div class="featured-story-content"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/style" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Style</span></a></div><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="250d98f2-dd3c-46db-8b65-92e79b488c37" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/250d98f2-dd3c-46db-8b65-92e79b488c37" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-2 text--weight-600" id="">HTSI. </span></span><span class="text text--color-black text-display--scale-2 text--weight-400" id="">How to host it – a winter feasting special</span></a></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span6 layout-desktop__grid--column-start-7 layout-desktop__grid--row-start-1"><div class="layout__grid-content"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="1" data-trackable-context-story-siblings="5" class="featured-story featured-story--hide-image-on-mobile"><div class="featured-story__image"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/7f5f4dee-02eb-4870-9f92-e1295efb52eb" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F7f8b600e-b153-4d3a-9807-01644a018c38.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F7f8b600e-b153-4d3a-9807-01644a018c38.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F7f8b600e-b153-4d3a-9807-01644a018c38.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down" alt="How a new 1,000km hiking trail is helping Japan move on from the tsunami " class="image image--width-580"/></picture></a></div><div class="featured-story-content"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/travel" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Travel</span></a></div><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="7f5f4dee-02eb-4870-9f92-e1295efb52eb" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/7f5f4dee-02eb-4870-9f92-e1295efb52eb" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-400" id="">How a new 1,000km hiking trail is helping Japan move on from the tsunami </span></a></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span12 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-2 layout-desktop__grid--hidden layout-desktop__grid--with-padding"><div class="separator--solid"></div></div><div class="layout-desktop__grid layout-desktop__grid--span4 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-3"><div class="layout__grid-content"><div data-trackable="story:lead" data-trackable-context-story-type="secondary" data-trackable-context-story-position="2" data-trackable-context-story-siblings="5" class="featured-story featured-story--hide-image-on-mobile"><div class="featured-story__image"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/28e21258-2067-4c4b-bc2d-0645336530fa" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F023a03b5-90e5-469f-82be-35457d7ab6f3.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F023a03b5-90e5-469f-82be-35457d7ab6f3.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F023a03b5-90e5-469f-82be-35457d7ab6f3.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down" alt="The Great Mughals at the V&amp;A — art, opulence and military power" class="image image--width-580"/></picture></a></div><div class="featured-story-content"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/arts" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Arts</span></a></div><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="28e21258-2067-4c4b-bc2d-0645336530fa" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/28e21258-2067-4c4b-bc2d-0645336530fa" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-2 text--weight-600" id="">Review. </span></span><span class="text text--color-black text-display--scale-2 text--weight-400" id="">The Great Mughals at the V&amp;A — art, opulence and military power</span></a></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span4 layout-desktop__grid--column-start-5 layout-desktop__grid--row-start-3"><div class="layout__grid-content"><div data-trackable="story:lead" data-trackable-context-story-type="secondary" data-trackable-context-story-position="3" data-trackable-context-story-siblings="5" class="featured-story featured-story--hide-image-on-mobile"><div class="featured-story__image"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/7c3939de-5ffc-4882-8480-dc66dd348f1c" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F2eca141f-7ce4-4766-9251-5cfe87787629.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F2eca141f-7ce4-4766-9251-5cfe87787629.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F2eca141f-7ce4-4766-9251-5cfe87787629.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down" alt="Bling it on – jumbo jewels are back" class="image image--width-580"/></picture></a></div><div class="featured-story-content"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/jewellery" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Jewellery</span></a></div><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="7c3939de-5ffc-4882-8480-dc66dd348f1c" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/7c3939de-5ffc-4882-8480-dc66dd348f1c" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-2 text--weight-600" id="">HTSI. </span></span><span class="text text--color-black text-display--scale-2 text--weight-400" id="">Bling it on – jumbo jewels are back</span></a></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span4 layout-desktop__grid--column-start-9 layout-desktop__grid--row-start-3"><div class="layout__grid-content"><div data-trackable="story:lead" data-trackable-context-story-type="secondary" data-trackable-context-story-position="4" data-trackable-context-story-siblings="5" class="featured-story featured-story--hide-image-on-mobile"><div class="featured-story__image"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/26135f01-0676-40f7-ac03-1094977dad9c" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F5427b2a1-25b0-4b69-b71e-c68c403559c4.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F5427b2a1-25b0-4b69-b71e-c68c403559c4.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F5427b2a1-25b0-4b69-b71e-c68c403559c4.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down" alt="The shoes that say: ‘My staggeringly expensive yacht is outside’" class="image image--width-580"/></picture></a></div><div class="featured-story-content"><div class="story-group__title"><a data-trackable="story-group-title-link" data-trackable-context-story-link="story-group-title-link" href="https://www.ft.com/style" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Style</span></a></div><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="26135f01-0676-40f7-ac03-1094977dad9c" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/26135f01-0676-40f7-ac03-1094977dad9c" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-400" id="">The shoes that say: ‘My staggeringly expensive yacht is outside’</span></a></div></div></div></div></div></div></div></div></div></div></div></section></div><div data-trackable="list:video" data-trackable-context-list-type="video" data-trackable-context-list-position="17" data-trackable-context-list-siblings="21" class="story-group-slice"><section class="slice story-group-named-slice slice--full-bleed slice--full-bleed--less-top-padding slice--dark"><div class="slice__content"><header id="video" class="slice-heading"><h2 class="slice-heading__title"><a data-trackable="link" data-trackable-context-story-link="link" href="/video" class="link" target="_self" aria-hidden="false"><span class="text text--color-white text-sans--scale-0" id="">Video</span></a></h2></header><div class="layout-desktop__grid-container"><div class="layout-desktop__grid layout-desktop__grid--span12 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1 layout--dark"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:storycollection;storyGroup:xlarge" data-trackable-context-storygroup-size="xlarge" data-trackable-context-storygroup-title="storycollection" data-trackable-context-storygroup-position="0" data-trackable-context-storygroup-siblings="1" class="layout-desktop--full-height"><div class="layout-desktop__grid-container story-collection"><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1"><div class="layout__grid-content"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="4" class="grid grid--1-columns grid--s3-spacing video__article-wrapper"><div class="grid-item grid-item--span-3 video__image"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/video/5162f237-3a55-484f-bacc-8fa9b719f7b9" class="link" target="_self" tabindex="-1" aria-hidden="true"><div class="preview__image--container"><div class="play__icon--wrapper"><span class="icon icon--play video icon--scale-3"> <span class="o-normalise-visually-hidden">play video content. </span></span></div><div class="preview__image--wrapper"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2Fee5d8312-d481-4331-83a8-0d5a69c129ef?source=next-home-page&amp;dpr=2&amp;width=180&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2Fee5d8312-d481-4331-83a8-0d5a69c129ef?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2Fee5d8312-d481-4331-83a8-0d5a69c129ef?source=next-home-page&amp;dpr=2&amp;width=180&amp;fit=scale-down" alt="Should the US ban Chinese drones? FT Film" class="image image--width-180"/></picture></div></div></a></div><div class="grid-item grid-item--span-3 video__content"><a data-trackable="link" data-trackable-context-story-link="link" href="https://www.ft.com/drones" class="link" target="_self" aria-hidden="false"><span class="text text--color-white text-sans--scale-0 text--weight-600" id=""><span class="video__content--displayTag">Drones</span></span></a><span class="text text--color-white text-sans--scale-0 text--weight-400" id=""><span>23 min</span></span><div class="headline js-teaser-headline headline--scale-2 headline--color-white" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/video/5162f237-3a55-484f-bacc-8fa9b719f7b9" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="icon icon--video icon--scale-2"> <span class="o-normalise-visually-hidden">video content. </span></span></span><span class="text text--color-white text-display--scale-2 text--weight-400" id="">Should the US ban Chinese drones?</span></a></div><span class="text text--color-white text-sans--scale-2" id=""><div class="timestamp"><time class="timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-24-hours" dateTime="2024-11-21T21:03:26+0000">47 hours ago</time></div></span></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-4 layout-desktop__grid--row-start-1"><div class="layout__grid-content"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="1" data-trackable-context-story-siblings="4" class="grid grid--1-columns grid--s3-spacing video__article-wrapper"><div class="grid-item grid-item--span-3 video__image"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/video/42f74ee5-5ce0-4951-aad1-41f22793f6c8" class="link" target="_self" tabindex="-1" aria-hidden="true"><div class="preview__image--container"><div class="play__icon--wrapper"><span class="icon icon--play video icon--scale-3"> <span class="o-normalise-visually-hidden">play video content. </span></span></div><div class="preview__image--wrapper"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2Fe0e3d32e-751c-4d4d-91cc-fdb98007320e?source=next-home-page&amp;dpr=2&amp;width=180&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2Fe0e3d32e-751c-4d4d-91cc-fdb98007320e?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2Fe0e3d32e-751c-4d4d-91cc-fdb98007320e?source=next-home-page&amp;dpr=2&amp;width=180&amp;fit=scale-down" alt="The women who vote Trump" class="image image--width-180"/></picture></div></div></a></div><div class="grid-item grid-item--span-3 video__content"><a data-trackable="link" data-trackable-context-story-link="link" href="https://www.ft.com/ft-film" class="link" target="_self" aria-hidden="false"><span class="text text--color-white text-sans--scale-0 text--weight-600" id=""><span class="video__content--displayTag">FT Film</span></span></a><span class="text text--color-white text-sans--scale-0 text--weight-400" id=""><span>32 min</span></span><div class="headline js-teaser-headline headline--scale-2 headline--color-white" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/video/42f74ee5-5ce0-4951-aad1-41f22793f6c8" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="icon icon--video icon--scale-2"> <span class="o-normalise-visually-hidden">video content. </span></span></span><span class="text text--color-white text-display--scale-2 text--weight-400" id="">America divided: the women who vote for Trump | FT Film</span></a></div><span class="text text--color-white text-sans--scale-2" id=""><div class="timestamp"><time class="timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-24-hours" dateTime="2024-09-26T04:01:50+0000">1408 hours ago</time></div></span></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-7 layout-desktop__grid--row-start-1"><div class="layout__grid-content"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="2" data-trackable-context-story-siblings="4" class="grid grid--1-columns grid--s3-spacing video__article-wrapper"><div class="grid-item grid-item--span-3 video__image"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/video/41e1ddbb-007e-40b4-8cbd-719a38746b9c" class="link" target="_self" tabindex="-1" aria-hidden="true"><div class="preview__image--container"><div class="play__icon--wrapper"><span class="icon icon--play video icon--scale-3"> <span class="o-normalise-visually-hidden">play video content. </span></span></div><div class="preview__image--wrapper"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2F1b1aa296-43c1-4783-a8f0-6239c158e2b1?source=next-home-page&amp;dpr=2&amp;width=180&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2F1b1aa296-43c1-4783-a8f0-6239c158e2b1?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2F1b1aa296-43c1-4783-a8f0-6239c158e2b1?source=next-home-page&amp;dpr=2&amp;width=180&amp;fit=scale-down" alt="The evolution of venture capital" class="image image--width-180"/></picture></div></div></a></div><div class="grid-item grid-item--span-3 video__content"><a data-trackable="link" data-trackable-context-story-link="link" href="https://www.ft.com/ft-film" class="link" target="_self" aria-hidden="false"><span class="text text--color-white text-sans--scale-0 text--weight-600" id=""><span class="video__content--displayTag">FT Film</span></span></a><span class="text text--color-white text-sans--scale-0 text--weight-400" id=""><span>29 min</span></span><div class="headline js-teaser-headline headline--scale-2 headline--color-white" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/video/41e1ddbb-007e-40b4-8cbd-719a38746b9c" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="icon icon--video icon--scale-2"> <span class="o-normalise-visually-hidden">video content. </span></span></span><span class="text text--color-white text-display--scale-2 text--weight-400" id="">Sequoia Capital and the evolution of the VC industry | FT Film</span></a></div><span class="text text--color-white text-sans--scale-2" id=""><div class="timestamp"><time class="timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-24-hours" dateTime="2024-10-10T04:01:44+0000">1072 hours ago</time></div></span></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-10 layout-desktop__grid--row-start-1"><div class="layout__grid-content"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="3" data-trackable-context-story-siblings="4" class="grid grid--1-columns grid--s3-spacing video__article-wrapper"><div class="grid-item grid-item--span-3 video__image"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/video/e547da2f-f8a4-4e36-9cd1-cb1572b6c28c" class="link" target="_self" tabindex="-1" aria-hidden="true"><div class="preview__image--container"><div class="play__icon--wrapper"><span class="icon icon--play video icon--scale-3"> <span class="o-normalise-visually-hidden">play video content. </span></span></div><div class="preview__image--wrapper"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2F6a588caa-f4f2-4f92-9162-93f4bb3ad29b?source=next-home-page&amp;dpr=2&amp;width=180&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2F6a588caa-f4f2-4f92-9162-93f4bb3ad29b?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fnext-video-editor-images.s3.ap-northeast-1.amazonaws.com%2F6a588caa-f4f2-4f92-9162-93f4bb3ad29b?source=next-home-page&amp;dpr=2&amp;width=180&amp;fit=scale-down" alt="5 Questions | Uber CEO Dara Khosrowshahi" class="image image--width-180"/></picture></div></div></a></div><div class="grid-item grid-item--span-3 video__content"><a data-trackable="link" data-trackable-context-story-link="link" href="https://www.ft.com/stream/aa08a644-46db-4753-ba06-f3608f369cbb" class="link" target="_self" aria-hidden="false"><span class="text text--color-white text-sans--scale-0 text--weight-600" id=""><span class="video__content--displayTag">Interview</span></span></a><span class="text text--color-white text-sans--scale-0 text--weight-400" id=""><span>6 min</span></span><div class="headline js-teaser-headline headline--scale-2 headline--color-white" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/video/e547da2f-f8a4-4e36-9cd1-cb1572b6c28c" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="icon icon--video icon--scale-2"> <span class="o-normalise-visually-hidden">video content. </span></span></span><span class="text text--color-white text-display--scale-2 text--weight-400" id="">Uber CEO Dara Khosrowshahi | 5 Questions</span></a></div><span class="text text--color-white text-sans--scale-2" id=""><div class="timestamp"><time class="timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-24-hours" dateTime="2024-10-15T03:59:43+0000">952 hours ago</time></div></span></div></div></div></div></div></div></div></div></div></div></section></div><div data-trackable="list:highlights" data-trackable-context-list-type="highlights" data-trackable-context-list-position="18" data-trackable-context-list-siblings="21" class="story-group-slice"><section class="slice slice--default"><div class="slice__content"><div class="separator--dotted"></div><header id="highlights" class="slice-heading"><h2 class="slice-heading__title"><span class="text text--color-black-80 text-sans--scale-0" id="">Highlights</span></h2></header><div class="layout-desktop__grid-container"><div class="layout-desktop__grid layout-desktop__grid--span9 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:storygroup;storyGroup:large" data-trackable-context-storygroup-size="large" data-trackable-context-storygroup-title="storygroup" data-trackable-context-storygroup-position="0" data-trackable-context-storygroup-siblings="2" class="layout-desktop--full-height"><div class="story-group"><div class="grid grid--3-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-3 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="7" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-1"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__teaser"><div class="headline js-teaser-headline headline--scale-4 headline--color-black" data-content-id="6a039600-d4f3-4aaa-ae0f-e4ca72cf2268" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/6a039600-d4f3-4aaa-ae0f-e4ca72cf2268" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-4 text--weight-500" id="">How gangsters took over Gaza’s aid routes</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/6a039600-d4f3-4aaa-ae0f-e4ca72cf2268" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Armed thieves who raid UN trucks are acting with Israel’s tacit support, officials say</span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="primary-story__image primary-story__image--3-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/6a039600-d4f3-4aaa-ae0f-e4ca72cf2268" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F4d064a96-71d4-432d-bbca-7724159cfe63.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F4d064a96-71d4-432d-bbca-7724159cfe63.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F4d064a96-71d4-432d-bbca-7724159cfe63.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down" alt="How gangsters took over Gaza’s aid routes" class="image image--width-580" loading="lazy"/></picture></a></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-1"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="1" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="30510160-88d0-4d5f-9882-b79f131d3ada" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/30510160-88d0-4d5f-9882-b79f131d3ada" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Mass X-odus: professionals desert Musk’s network</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-2"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="2" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="5c49e3f6-474d-4fae-bcf4-7562e127e911" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/5c49e3f6-474d-4fae-bcf4-7562e127e911" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-2 text--weight-600" id="">The Big Read. </span></span><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Offshore oil is back. At what cost?</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-3 story-group--end-of-row"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="3" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="917cb02a-c3b0-4f5b-a86b-b9965288b82b" data-is-exclusive="false" data-is-scoop="true"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/917cb02a-c3b0-4f5b-a86b-b9965288b82b" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Russian sanctions busting linked to British Overseas Territories</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-3 story-group--column-start-1"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="4" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="92377da7-43ef-4ef5-a4b8-ead502f7e18e" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/92377da7-43ef-4ef5-a4b8-ead502f7e18e" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="icon icon--opinion icon--scale-2"> <span class="o-normalise-visually-hidden">opinion content. </span></span></span><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Trump may be right about Ukraine’s endgame </span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__opinion"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2FAlec%2520Russell-255f2a4e-100b-4f9e-81ce-988a30abde2a.png?source=next-home-page&amp;dpr=2&amp;width=40&amp;height=40&amp;fit=cover&amp;gravity=poi"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2FAlec%2520Russell-255f2a4e-100b-4f9e-81ce-988a30abde2a.png?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2FAlec%2520Russell-255f2a4e-100b-4f9e-81ce-988a30abde2a.png?source=next-home-page&amp;dpr=2&amp;width=40&amp;height=40&amp;fit=cover&amp;gravity=poi" alt="" class="image image--width-40"/></picture><div class="author-opinion-details"><a data-trackable="author-link" data-trackable-context-story-link="author-link" href="https://www.ft.com/alec-russell" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Alec Russell</span></a></div></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-3 story-group--column-start-2"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="5" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="3a285234-bada-400c-a119-9393c767181e" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/3a285234-bada-400c-a119-9393c767181e" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">US indictment of Gautam Adani puts India Inc’s reputation on trial</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-3 story-group--column-start-3 story-group--end-of-row"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="6" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="44c4504c-8d79-4b09-bf72-b04cf8082736" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/44c4504c-8d79-4b09-bf72-b04cf8082736" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-2 text--weight-600" id="">The Big Read. </span></span><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Thrive Capital: the venture firm staking billions on a few big bets</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-10 layout-desktop__grid--row-start-1 layout--default"><div class="layout__grid-content"><div data-trackable="group:highlights;groupSize:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="highlights" data-trackable-context-storygroup-position="1" data-trackable-context-storygroup-siblings="2" class="layout-desktop--full-height"><div class="links-promo"><div class="list list--vertical"><h3 class="text text--color-black text-sans--scale-0 text--weight-600" id="">More highlights</h3><ul class="list__items-wrapper"><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="0" data-trackable-context-story-siblings="5" data-id="highlights-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/moral-money" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Moral Money</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="1" data-trackable-context-story-siblings="5" data-id="highlights-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/due-diligence" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Due Diligence</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="2" data-trackable-context-story-siblings="5" data-id="highlights-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/cryptocurrencies" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Cryptocurrencies</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="3" data-trackable-context-story-siblings="5" data-id="highlights-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/reports" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Special Reports</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="4" data-trackable-context-story-siblings="5" data-id="highlights-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/climate-capital" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Climate Capital</span></a></div></div></li></ul></div><div data-trackable="story:related-promo" data-trackable-context-story-type="related-promo" data-trackable-context-story-position="0" data-trackable-context-story-siblings="1" class="promo__links"><div class="promo__links-text"><a data-trackable="related-promo-link" data-trackable-context-story-link="related-promo-link" href="https://ep.ft.com/newsletters/5ce7dcb373511b000490ac5b/subscribe" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-700" id="">Moral Money</span><span class="promo__links--spacing"><span class="text text--color-teal text-sans--scale-0" id="">Sign up for our newsletter</span></span></a></div><div class="promo__links-image"><a data-trackable="related-promo-link" data-trackable-context-story-link="related-promo-link" href="https://ep.ft.com/newsletters/5ce7dcb373511b000490ac5b/subscribe" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fwww.ft.com%2F__assets%2Fcreatives%2Fhomepage-beta%2Fmoral-money-promo.jpeg?source=next-home-page&amp;dpr=2&amp;width=280&amp;height=280&amp;fit=cover&amp;gravity=poi"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fwww.ft.com%2F__assets%2Fcreatives%2Fhomepage-beta%2Fmoral-money-promo.jpeg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fwww.ft.com%2F__assets%2Fcreatives%2Fhomepage-beta%2Fmoral-money-promo.jpeg?source=next-home-page&amp;dpr=2&amp;width=280&amp;height=280&amp;fit=cover&amp;gravity=poi" alt="Sign up to our newsletter for Moral Money." class="image image--width-280"/></picture></a></div></div></div></div></div></div></div></div></section></div><div data-trackable="list:markets-news" data-trackable-context-list-type="markets-news" data-trackable-context-list-position="19" data-trackable-context-list-siblings="21" class="story-group-slice"><section class="slice slice--default"><div class="slice__content"><div class="separator--dotted"></div><header id="markets-news" class="slice-heading"><h2 class="slice-heading__title"><a data-trackable="link" data-trackable-context-story-link="link" href="/markets" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-80 text-sans--scale-0" id="">Markets News</span></a></h2></header><div class="layout-desktop__grid-container"><div class="layout-desktop__grid layout-desktop__grid--span9 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:storygroup;storyGroup:large" data-trackable-context-storygroup-size="large" data-trackable-context-storygroup-title="storygroup" data-trackable-context-storygroup-position="0" data-trackable-context-storygroup-siblings="2" class="layout-desktop--full-height"><div class="story-group"><div class="grid grid--3-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-3 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="7" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-1"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__teaser"><div class="headline js-teaser-headline headline--scale-4 headline--color-black" data-content-id="12a5630c-64e5-451e-8f85-3bafc6965bdd" data-is-exclusive="false" data-is-scoop="true"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/12a5630c-64e5-451e-8f85-3bafc6965bdd" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-4 text--weight-500" id="">French asset manager Tikehau considering New York listing </span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/12a5630c-64e5-451e-8f85-3bafc6965bdd" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">An increasing number of European companies are looking past home exchanges to more liquid markets in US </span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="primary-story__image primary-story__image--3-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/12a5630c-64e5-451e-8f85-3bafc6965bdd" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Ff44a5ce8-1307-4140-ad64-09180ec81efb.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Ff44a5ce8-1307-4140-ad64-09180ec81efb.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Ff44a5ce8-1307-4140-ad64-09180ec81efb.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down" alt="French asset manager Tikehau considering New York listing " class="image image--width-580" loading="lazy"/></picture></a></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-1"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="1" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="1ac85c5d-51a7-47ed-9c64-2954a5bab901" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/1ac85c5d-51a7-47ed-9c64-2954a5bab901" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">MicroStrategy takes fundraising to $7bn for push into bitcoin</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-2"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="2" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="c53c1bfc-67cf-4793-915c-6dea2712d6a9" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/c53c1bfc-67cf-4793-915c-6dea2712d6a9" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Crypto chief buys banana for $6mn at contemporary art auction </span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-3 story-group--end-of-row"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="3" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="d7f921d5-3668-4b6b-a98d-2681ad73610f" data-is-exclusive="false" data-is-scoop="true"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/d7f921d5-3668-4b6b-a98d-2681ad73610f" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Trump’s social media group in talks to buy crypto trading venue</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-3 story-group--column-start-1"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="4" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="48ad06d7-8629-494d-bfe5-f4f11ab57630" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/48ad06d7-8629-494d-bfe5-f4f11ab57630" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Asian arms makers lead defence stock rally in bet on global rearmament</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-3 story-group--column-start-2"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="5" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="f0516b4b-bdc3-4752-84f6-ee1dc9a7baff" data-is-exclusive="false" data-is-scoop="true"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/f0516b4b-bdc3-4752-84f6-ee1dc9a7baff" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Vanguard says shareholders can vote for profits over ESG issues</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-3 story-group--column-start-3 story-group--end-of-row"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="6" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="367ce8da-f8db-4cbf-83da-b6ee73ec6bdf" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/367ce8da-f8db-4cbf-83da-b6ee73ec6bdf" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">EU regulator proposes shortening trade settlement times from October 2027</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-10 layout-desktop__grid--row-start-1 layout--default"><div class="layout__grid-content"><div data-trackable="group:markets-news;groupSize:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="markets-news" data-trackable-context-storygroup-position="1" data-trackable-context-storygroup-siblings="2" class="layout-desktop--full-height"><div class="links-promo"><div class="list list--vertical"><h3 class="text text--color-black text-sans--scale-0 text--weight-600" id="">More markets news</h3><ul class="list__items-wrapper"><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="0" data-trackable-context-story-siblings="11" data-id="markets-news-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/alphaville" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Alphaville</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="1" data-trackable-context-story-siblings="11" data-id="markets-news-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://markets.ft.com/data" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Markets Data</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="2" data-trackable-context-story-siblings="11" data-id="markets-news-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/capital-markets" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Capital Markets</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="3" data-trackable-context-story-siblings="11" data-id="markets-news-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/commodities" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Commodities</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="4" data-trackable-context-story-siblings="11" data-id="markets-news-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/currencies" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Currencies</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="5" data-trackable-context-story-siblings="11" data-id="markets-news-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/equities" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Equities</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="6" data-trackable-context-story-siblings="11" data-id="markets-news-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/fund-management" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Fund Management</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="7" data-trackable-context-story-siblings="11" data-id="markets-news-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/ft-wealth-management" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Wealth Management</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="8" data-trackable-context-story-siblings="11" data-id="markets-news-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/ft-trading-room" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Trading</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="9" data-trackable-context-story-siblings="11" data-id="markets-news-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/moral-money" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Moral Money</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="10" data-trackable-context-story-siblings="11" data-id="markets-news-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://etf.ft.com/" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">ETF Hub</span></a></div></div></li></ul></div></div></div></div></div></div></div></section></div><div data-trackable="list:technology" data-trackable-context-list-type="technology" data-trackable-context-list-position="20" data-trackable-context-list-siblings="21" class="story-group-slice"><section class="slice slice--default"><div class="slice__content"><div class="separator--dotted"></div><header id="technology" class="slice-heading"><h2 class="slice-heading__title"><a data-trackable="link" data-trackable-context-story-link="link" href="/technology" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-80 text-sans--scale-0" id="">Technology</span></a></h2></header><div class="layout-desktop__grid-container"><div class="layout-desktop__grid layout-desktop__grid--span9 layout-desktop__grid--column-start-1 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:storygroup;storyGroup:large" data-trackable-context-storygroup-size="large" data-trackable-context-storygroup-title="storygroup" data-trackable-context-storygroup-position="0" data-trackable-context-storygroup-siblings="2" class="layout-desktop--full-height"><div class="story-group"><div class="grid grid--3-columns grid--fullHeight" style="grid-template-rows:min-content;-ms-grid-rows:min-content"><div class="story-group__article-wrapper story-group--row-start-1 story-group--column-start-1 story-group--full-width-3 story-group--end-of-row"><div class="story-group__article story-group__article--lead"><div data-trackable="story:lead" data-trackable-context-story-type="lead" data-trackable-context-story-position="0" data-trackable-context-story-siblings="7" class="grid grid--3-columns grid--s4-spacing grid--fullHeight"><div class="grid-item grid-item--span-1"><div class="grid grid--1-columns grid--s3-spacing"><div class="primary-story__teaser"><div class="headline js-teaser-headline headline--scale-4 headline--color-black" data-content-id="c01c74e4-eda0-4752-ac51-cf2c694ab32f" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/c01c74e4-eda0-4752-ac51-cf2c694ab32f" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-4 text--weight-600" id="">Obituary. </span></span><span class="text text--color-black text-display--scale-4 text--weight-500" id="">Thomas Kurtz, mathematician, 1928-2024</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/c01c74e4-eda0-4752-ac51-cf2c694ab32f" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">His invention of the Basic programming language paved the way for the personal computer revolution</span></a></p></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="primary-story__image primary-story__image--3-cols"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/c01c74e4-eda0-4752-ac51-cf2c694ab32f" class="link" target="_self" tabindex="-1" aria-hidden="true"><picture><source media="(min-width: 1024px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fe2b5cd48-0113-46fb-803e-d2d0ed4d38c6.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><source media="(max-width: 580px)" srcSet="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fe2b5cd48-0113-46fb-803e-d2d0ed4d38c6.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fe2b5cd48-0113-46fb-803e-d2d0ed4d38c6.jpg?source=next-home-page&amp;dpr=2&amp;width=580&amp;fit=scale-down" alt="Thomas Kurtz, mathematician, 1928-2024" class="image image--width-580" loading="lazy"/></picture></a></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-1"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="1" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="ac17ef21-7a9d-4366-9b9e-343489785f9b" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/ac17ef21-7a9d-4366-9b9e-343489785f9b" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-2 text--weight-600" id="">Corporate Person in the News. </span></span><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Samsung’s princeling heir Lee Jae-yong grapples with corporate crisis</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-2"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="2" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="58b7e26e-5af6-4cef-8999-a520090bebd4" data-is-exclusive="false" data-is-scoop="true"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/58b7e26e-5af6-4cef-8999-a520090bebd4" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Early Revolut investors cash out at least $300mn in share sale</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-2 story-group--column-start-3 story-group--end-of-row"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="3" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="01da4ed8-0371-44b0-a07d-63e07f32939e" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/01da4ed8-0371-44b0-a07d-63e07f32939e" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Amazon pumps another $4bn into AI start-up Anthropic</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-3 story-group--column-start-1"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="4" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="a3a329ee-8c9a-4abd-add2-eb7d56f4c108" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/a3a329ee-8c9a-4abd-add2-eb7d56f4c108" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="icon icon--opinion icon--scale-2"> <span class="o-normalise-visually-hidden">opinion content. </span></span></span><span class="text text--color-black text-display--scale-2 text--weight-500" id="">What Trump means for Silicon Valley</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata"><a data-trackable="author-link" data-trackable-context-story-link="author-link" href="https://www.ft.com/stream/f26b6f98-4605-311e-9746-95665be035d7" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Reid Hoffman</span></a></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-3 story-group--column-start-2"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="5" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="54db3932-0b9e-4908-8214-5923f2942dca" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/54db3932-0b9e-4908-8214-5923f2942dca" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="text text--color-black text-display--scale-2 text--weight-600" id="">FT Swamp Notes. </span></span><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Will Musk and Trump fall out?</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div><div class="story-group__article-wrapper story-group--row-start-3 story-group--column-start-3 story-group--end-of-row"><div class="story-group__article story-group__article--secondary"><div data-trackable="story:secondary" data-trackable-context-story-type="secondary" data-trackable-context-story-position="6" data-trackable-context-story-siblings="7" class="grid grid--1-columns grid--s3-spacing"><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="e164df19-54e2-48d8-b07c-50687813bf56" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/e164df19-54e2-48d8-b07c-50687813bf56" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Jaguar boss defends ‘bold’ rebranding after backlash over video</span></a></div><div class="grid-item grid-item--span-1 grid-item--align-self-end"><div class="metadata metadata__timestamp"></div></div></div></div><div class="story-group__separator story-group__separator--hidden"><div class="separator--solid"></div></div></div></div></div></div></div></div><div class="layout-desktop__grid layout-desktop__grid--span3 layout-desktop__grid--column-start-10 layout-desktop__grid--row-start-1 layout--default"><div class="layout__grid-content"><div data-trackable="group:technology;groupSize:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="technology" data-trackable-context-storygroup-position="1" data-trackable-context-storygroup-siblings="2" class="layout-desktop--full-height"><div class="links-promo"><div class="list list--vertical"><h3 class="text text--color-black text-sans--scale-0 text--weight-600" id="">More technology</h3><ul class="list__items-wrapper"><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="0" data-trackable-context-story-siblings="7" data-id="technology-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/cryptofinance" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Cryptofinance</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="1" data-trackable-context-story-siblings="7" data-id="technology-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/semiconductors" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Semiconductors</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="2" data-trackable-context-story-siblings="7" data-id="technology-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/tech-tonic" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Tech Tonic podcast</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="3" data-trackable-context-story-siblings="7" data-id="technology-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/trading-technology" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Trading technology</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="4" data-trackable-context-story-siblings="7" data-id="technology-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/tech-start-ups" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Tech start-ups</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="5" data-trackable-context-story-siblings="7" data-id="technology-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/social-media" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Social Media</span></a></div></div></li><li><div data-trackable="story:related-link" data-trackable-context-story-type="related-link" data-trackable-context-story-position="6" data-trackable-context-story-siblings="7" data-id="technology-links-promo" data-name="list" data-type="list" data-subtype="" class="list__links"><div class="list__item-link"><a data-trackable="related-link" data-trackable-context-story-link="related-link" href="https://www.ft.com/artificial-intelligence" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Artificial intelligence</span></a></div></div></li></ul></div></div></div></div></div></div></div></section></div><section class="slice section"><div class="slice__content"><div class="separator--dotted"></div><header id="explore-more-events-from-the-ft" class="slice-heading"><h2 class="slice-heading__title"><a data-trackable="link" data-trackable-context-story-link="link" href="https://events.ft.com/events-list" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-80 text-sans--scale-0" id="">Explore more events from the FT</span></a></h2></header><div class="community-home-page-slice o-grid-row o-grid-row--compact community-home-page-slice--events community-home-page-slice--default-layout"><div data-o-grid-colspan="12 M12 L3" class="community-home-page-slice__column community-home-page-slice__header-column"><div class="community-home-page-slice__header"><div role="heading" aria-level="3" class="community-home-page-slice__title">Upcoming events</div><p class="community-home-page-slice__strapline">Discover unmissable flagship events with FT journalists to expand your thinking and elevate your career</p><a class="community-home-page-slice__link" href="https://events.ft.com/events-list">Explore all events</a></div></div><div data-o-grid-colspan="12 M4 L3" class="community-home-page-slice__column community-home-page-slice__item-column"><div class="event-teaser" data-trackable="event-teaser" data-trackable-context-content-id="2bbc8fb8-5d9c-4948-bc3e-9780e71a68e2" data-o-tracking-view="true"><div class="event-teaser__content-container"><div class="event-teaser__details"><a class="event-teaser__brand" href="https://revivinghongkongmarkets.live.ft.com" data-trackable="event-teaser-brand-link">FT Live</a><div class="event-teaser__title-heading" role="heading" aria-level="4"><a class="event-teaser__title" data-trackable="event-teaser-title" href="https://revivinghongkongmarkets.live.ft.com" title="Can Hong Kong Revive its Capital Markets?">Can Hong Kong Revive its Capital Markets?</a></div><span class="event-teaser__standfirst">Assessing capital flow dynamics and strategies for attracting listings</span></div><div class="event-teaser__footer"><span class="event-teaser__timestamp event-teaser__timestamp--start-date"><time dateTime="2024-11-27T16:00:00.000Z">Wednesday, 27 November</time></span><span class="event-teaser__location">Digital Conference</span></div></div></div></div><div data-o-grid-colspan="12 M4 L3" class="community-home-page-slice__column community-home-page-slice__item-column"><div class="event-teaser" data-trackable="event-teaser" data-trackable-context-content-id="d38c5581-44b7-40c1-87e8-9849008f91b2" data-o-tracking-view="true"><div class="event-teaser__content-container"><div class="event-teaser__details"><a class="event-teaser__brand" href="https://cyber.live.ft.com" data-trackable="event-teaser-brand-link">FT Live</a><div class="event-teaser__title-heading" role="heading" aria-level="4"><a class="event-teaser__title" data-trackable="event-teaser-title" href="https://cyber.live.ft.com" title="Cyber Resilience Summit: Europe">Cyber Resilience Summit: Europe</a></div><span class="event-teaser__standfirst">Tackling mounting threats to business, infrastructure and the economy</span></div><div class="event-teaser__footer"><span class="event-teaser__timestamp event-teaser__timestamp--start-date"><time dateTime="2024-11-27T09:00:00.000Z">Wednesday, 27 November</time></span><span class="event-teaser__location">22 Bishopsgate, London, UK</span></div></div></div></div><div data-o-grid-colspan="12 M4 L3" class="community-home-page-slice__column community-home-page-slice__item-column"><div class="event-teaser" data-trackable="event-teaser" data-trackable-context-content-id="1358044a-4fdb-4931-a65e-2308cfac874e" data-o-tracking-view="true"><div class="event-teaser__content-container"><div class="event-teaser__details"><a class="event-teaser__brand" href="https://banking.live.ft.com" data-trackable="event-teaser-brand-link">FT Live</a><div class="event-teaser__title-heading" role="heading" aria-level="4"><a class="event-teaser__title" data-trackable="event-teaser-title" href="https://banking.live.ft.com" title="Global Banking Summit">Global Banking Summit</a></div><span class="event-teaser__standfirst">Leading through disruption</span></div><div class="event-teaser__footer"><span class="event-teaser__timestamp event-teaser__timestamp--start-date"><time dateTime="2024-12-03T09:00:00.000Z">Tuesday, 3 December</time></span><span class="event-teaser__location">London, UK</span></div></div></div></div></div><div class="community-home-page-slice o-grid-row o-grid-row--compact community-home-page-slice--forums community-home-page-slice--default-layout"><div data-o-grid-colspan="12 M12 L3" class="community-home-page-slice__column community-home-page-slice__header-column"><div class="community-home-page-slice__header"><div role="heading" aria-level="3" class="community-home-page-slice__title">Join the discussion</div><p class="community-home-page-slice__strapline">FT Forums is a series of members only communities, powered by the Financial Times</p></div></div><div data-o-grid-colspan="12 M4 L3" class="community-home-page-slice__column community-home-page-slice__item-column"><div class="forum-teaser" data-trackable="forum-teaser"><div role="heading" aria-level="4" class="forum-teaser__title-heading"><a class="forum-teaser__title" data-trackable="forum-teaser-title" href="https://forums.ft.com/women-in-business-forum">Women In Business Forum</a></div><span class="forum-teaser__strapline">A dedicated programme to accelerate mid-career women into senior leadership.</span></div></div><div data-o-grid-colspan="12 M4 L3" class="community-home-page-slice__column community-home-page-slice__item-column"><div class="forum-teaser" data-trackable="forum-teaser"><div role="heading" aria-level="4" class="forum-teaser__title-heading"><a class="forum-teaser__title" data-trackable="forum-teaser-title" href="https://forums.ft.com/future-forum">Future Forum</a></div><span class="forum-teaser__strapline">An authoritative space for businesses to share ideas, build relationships and develop solutions to future challenges.</span></div></div><div data-o-grid-colspan="12 M4 L3" class="community-home-page-slice__column community-home-page-slice__item-column"><div class="forum-teaser" data-trackable="forum-teaser"><div role="heading" aria-level="4" class="forum-teaser__title-heading"><a class="forum-teaser__title" data-trackable="forum-teaser-title" href="https://forums.ft.com/climate-capital-council">Climate Capital Council</a></div><span class="forum-teaser__strapline">Where businesses share ideas, opportunities and challenges with climate change.</span></div></div></div></div></section></main></div></div><div class="n-layout__row n-layout__row--footer"><footer id="site-footer" class="o-footer o-footer--theme-dark" data-o-component="o-footer"><div class="o-footer__container"><div class="o-footer__row"><h2 class="o-normalise-visually-hidden">Useful links</h2><nav class="o-footer__matrix" role="navigation" aria-label="Useful links"><div class="o-footer__matrix-group o-footer__matrix-group--1"><h3 class="o-footer__matrix-title" aria-controls="o-footer-section-0">Support</h3><div class="o-footer__matrix-content" id="o-footer-section-0"><div class="o-footer__matrix-column"><a class="o-footer__matrix-link" href="/tour" data-trackable="View Site Tips"><span class="o-footer__matrix-link__copy">View Site Tips</span></a><a class="o-footer__matrix-link" href="https://help.ft.com" data-trackable="Help Centre"><span class="o-footer__matrix-link__copy">Help Centre</span></a><a class="o-footer__matrix-link" href="https://aboutus.ft.com/contact-us" data-trackable="Contact Us"><span class="o-footer__matrix-link__copy">Contact Us</span></a><a class="o-footer__matrix-link" href="https://www.ft.com/aboutus" data-trackable="About Us"><span class="o-footer__matrix-link__copy">About Us</span></a><a class="o-footer__matrix-link" href="/accessibility" data-trackable="Accessibility"><span class="o-footer__matrix-link__copy">Accessibility</span></a><a class="o-footer__matrix-link" href="/tour/myft" data-trackable="myFT Tour"><span class="o-footer__matrix-link__copy">myFT Tour</span></a><a class="o-footer__matrix-link" href="https://aboutus.ft.com/en-gb/careers/" data-trackable="Careers"><span class="o-footer__matrix-link__copy">Careers</span></a><a class="o-footer__matrix-link" href="https://aboutus.ft.com/suppliers" data-trackable="Suppliers"><span class="o-footer__matrix-link__copy">Suppliers</span></a></div></div></div><div class="o-footer__matrix-group o-footer__matrix-group--1"><h3 class="o-footer__matrix-title" aria-controls="o-footer-section-1">Legal &amp; Privacy</h3><div class="o-footer__matrix-content" id="o-footer-section-1"><div class="o-footer__matrix-column"><a class="o-footer__matrix-link" href="https://help.ft.com/help/legal-privacy/terms-conditions/" data-trackable="Terms &amp; Conditions"><span class="o-footer__matrix-link__copy">Terms &amp; Conditions</span></a><a class="o-footer__matrix-link" href="https://help.ft.com/help/legal-privacy/privacy/" data-trackable="Privacy Policy"><span class="o-footer__matrix-link__copy">Privacy Policy</span></a><a class="o-footer__matrix-link" href="https://help.ft.com/help/legal-privacy/cookies/" data-trackable="Cookie Policy"><span class="o-footer__matrix-link__copy">Cookie Policy</span></a><a class="o-footer__matrix-link" href="https://www.ft.com/preferences/manage-cookies" data-trackable="Manage Cookies"><span class="o-footer__matrix-link__copy">Manage Cookies</span></a><a class="o-footer__matrix-link" href="https://help.ft.com/help/legal-privacy/copyright/copyright-policy/" data-trackable="Copyright"><span class="o-footer__matrix-link__copy">Copyright</span></a><a class="o-footer__matrix-link" href="https://help.ft.com/help/legal/slavery-statement/" data-trackable="Slavery Statement &amp; Policies"><span class="o-footer__matrix-link__copy">Slavery Statement &amp; Policies</span></a></div></div></div><div class="o-footer__matrix-group o-footer__matrix-group--1"><h3 class="o-footer__matrix-title" aria-controls="o-footer-section-2">Services</h3><div class="o-footer__matrix-content" id="o-footer-section-2"><div class="o-footer__matrix-column"><a class="o-footer__matrix-link" href="/securedrop" data-trackable="Share News Tips Securely" data-o-tracking-do-not-track="true"><span class="o-footer__matrix-link__copy">Share News Tips Securely</span></a><a class="o-footer__matrix-link" href="https://www.ft.com/products" data-trackable="Individual Subscriptions"><span class="o-footer__matrix-link__copy">Individual Subscriptions</span></a><a class="o-footer__matrix-link" href="https://professional.ft.com/en-gb/services/professional-subscriptions?segmentId=383c7f[…]4-b62d-cb33-4c278e6fdf61&amp;cpccampaign=B2B_link_ft.com_footer" data-trackable="Professional Subscriptions"><span class="o-footer__matrix-link__copy">Professional Subscriptions</span></a><a class="o-footer__matrix-link" href="https://professional.ft.com/en-gb/services/republishing/" data-trackable="Republishing"><span class="o-footer__matrix-link__copy">Republishing</span></a><a class="o-footer__matrix-link" href="https://www.exec-appointments.com/" data-trackable="Executive Job Search"><span class="o-footer__matrix-link__copy">Executive Job Search</span></a><a class="o-footer__matrix-link" href="https://commercial.ft.com/" data-trackable="Advertise with the FT"><span class="o-footer__matrix-link__copy">Advertise with the FT</span></a><a class="o-footer__matrix-link" href="https://twitter.com/ft" data-trackable="Follow the FT on X"><span class="o-footer__matrix-link__copy">Follow the FT on X</span></a><a class="o-footer__matrix-link" href="https://channels.ft.com/" data-trackable="FT Channels"><span class="o-footer__matrix-link__copy">FT Channels</span></a><a class="o-footer__matrix-link" href="https://enterprise.ft.com/en-gb/services/group-subscriptions/secondary-education/" data-trackable="FT Schools"><span class="o-footer__matrix-link__copy">FT Schools</span></a></div></div></div><div class="o-footer__matrix-group o-footer__matrix-group--1"><h3 class="o-footer__matrix-title" aria-controls="o-footer-section-3">Tools</h3><div class="o-footer__matrix-content" id="o-footer-section-3"><div class="o-footer__matrix-column"><a class="o-footer__matrix-link" href="https://markets.ft.com/data/portfolio/dashboard" data-trackable="Portfolio"><span class="o-footer__matrix-link__copy">Portfolio</span></a><a class="o-footer__matrix-link" href="https://applink.ft.com/A6lV/2khsqyrh" data-trackable="FT App"><span class="o-footer__matrix-link__copy">FT App</span></a><a class="o-footer__matrix-link" href="https://www.ft.com/todaysnewspaper" data-trackable="FT Digital Edition"><span class="o-footer__matrix-link__copy">FT Digital Edition</span></a><a class="o-footer__matrix-link" href="https://ftedit.ft.com/Ju3k/pqkac2ds" data-trackable="FT Edit"><span class="o-footer__matrix-link__copy">FT Edit</span></a><a class="o-footer__matrix-link" href="https://markets.ft.com/data/alerts/" data-trackable="Alerts Hub"><span class="o-footer__matrix-link__copy">Alerts Hub</span></a><a class="o-footer__matrix-link" href="https://rankings.ft.com/business-education" data-trackable="Business School Rankings"><span class="o-footer__matrix-link__copy">Business School Rankings</span></a><a class="o-footer__matrix-link" href="https://subscription-manager.ft.com/" data-trackable="Subscription Manager"><span class="o-footer__matrix-link__copy">Subscription Manager</span></a><a class="o-footer__matrix-link" href="/news-feed" data-trackable="News feed"><span class="o-footer__matrix-link__copy">News feed</span></a><a class="o-footer__matrix-link" href="/newsletters" data-trackable="Newsletters"><span class="o-footer__matrix-link__copy">Newsletters</span></a><a class="o-footer__matrix-link" href="https://markets.ft.com/data/currencies" data-trackable="Currency Converter"><span class="o-footer__matrix-link__copy">Currency Converter</span></a></div></div></div><div class="o-footer__matrix-group o-footer__matrix-group--1"><h3 class="o-footer__matrix-title" aria-controls="o-footer-section-4">Community &amp; Events</h3><div class="o-footer__matrix-content" id="o-footer-section-4"><div class="o-footer__matrix-column"><a class="o-footer__matrix-link" href="https://events.ft.com/events-list" data-trackable="FT Live Events"><span class="o-footer__matrix-link__copy">FT Live Events</span></a><a class="o-footer__matrix-link" href="https://forums.ft.com/" data-trackable="FT Forums"><span class="o-footer__matrix-link__copy">FT Forums</span></a><a class="o-footer__matrix-link" href="https://bdp.ft.com/" data-trackable="Board Director Programme"><span class="o-footer__matrix-link__copy">Board Director Programme</span></a></div></div></div><div class="o-footer__matrix-group o-footer__matrix-group--1"><h3 class="o-footer__matrix-title o-footer__matrix-title--link"><a class="o-footer__matrix-link o-footer__matrix-link--more" id="o-footer-5" href="https://ft.com/more-from-ft-group"><span class="o-footer__matrix-link__copy">More from the FT Group</span></a></h3></div></nav></div><div class="o-footer__copyright"><small>Markets data delayed by at least 15 minutes. © THE FINANCIAL TIMES LTD 2024. <abbr title="Financial Times" aria-label="F T">FT</abbr> and ‘Financial Times’ are trademarks of The Financial Times Ltd.<br/>The Financial Times and its journalism are subject to a self-regulation regime under the <a href="https://aboutus.ft.com/en-gb/ft-editorial-code/" aria-label="F T Editorial Code of Practice">FT Editorial Code of Practice</a>.</small></div></div><div class="o-footer__brand"><div class="o-footer__container"><div class="o-footer__brand-logo"></div></div></div></footer><div class="n-layout__footer-after"><script data-pixel-src="https://spoor-api.ft.com/px.gif?data=%7B%22category%22%3A%22page%22%2C%22action%22%3A%22view%22%2C%22system%22%3A%7B%22source%22%3A%22non-ctm%22%7D%2C%22context%22%3A%7B%22name%22%3A%22home-page%22%2C%22product%22%3A%22next%22%2C%22data%22%3A%7B%22source%22%3A%22%5BSOURCE%5D%22%7D%7D%7D">(function coreExperience() { if (/\bcore\b/.test(document.documentElement.className)) { // eslint-disable-next-line no-var var currentScript = document.scripts[document.scripts.length - 1]; // eslint-disable-next-line no-var var img = new Image(); img.alt = ''; img.src = currentScript.getAttribute('data-pixel-src'); } })();</script><noscript><img src="https://spoor-api.ft.com/px.gif?data=%7B%22category%22%3A%22page%22%2C%22action%22%3A%22view%22%2C%22system%22%3A%7B%22source%22%3A%22non-ctm%22%7D%2C%22context%22%3A%7B%22name%22%3A%22home-page%22%2C%22product%22%3A%22next%22%2C%22data%22%3A%7B%22source%22%3A%22%5BSOURCE%5D%22%7D%7D%7D" alt=""/></noscript></div></div><div class="o-header__drawer" id="o-header-drawer" role="modal" aria-label="Drawer menu" aria-modal="true" data-o-header-drawer="true" data-o-header-drawer--no-js="true" data-trackable="drawer" data-trackable-terminate="true"><div class="o-header__drawer-inner"><div class="o-header__drawer-tools"><button type="button" class="o-header__drawer-tools-close" title="Close side navigation menu" aria-controls="o-header-drawer" data-trackable="close"><span class="o-header__visually-hidden">Close side navigation menu</span></button><nav class="o-header__drawer-menu o-header__drawer-edition-switcher" aria-label="Edition switcher"><span class="o-header__drawer-menu-item">Edition:</span><span class="o-header__drawer-menu-item o-header__drawer-current-edition">International</span><div class="o-header__drawer-divider"></div><a class="o-header__drawer-menu-link" href="/?edition=uk">UK</a></nav></div><div class="o-header__drawer-search"><form class="o-header__drawer-search-form" action="/search" role="search" aria-label="Site search" data-n-topic-search="true"><label for="o-header-drawer-search-term" class="o-forms-field o-forms-field--optional"><span class="o-forms-title o-header__visually-hidden"><span class="o-forms-title__main">Search the <abbr title="Financial Times">FT</abbr></span></span><span class="o-forms-input o-forms-input--text o-forms-input--suffix"><input type="search" id="o-header-drawer-search-term" name="q" autoComplete="off" autoCorrect="off" autoCapitalize="off" spellcheck="false" data-trackable="search-term" data-n-topic-search-input="true" placeholder="Search for stories, topics or securities" role="combobox" aria-controls="suggestions-o-header-drawer-search-term" data-n-topic-search-drawer="true"/><button class="o-header__drawer-search-submit" type="submit" data-trackable="search-submit"><span class="o-header__visually-hidden">Search</span></button></span></label></form></div><div class="o-header__drawer-actions"><a class="o-header__drawer-button" role="button" href="/products?segmentId=4526c036-7527-ab37-9a29-0b0403fa0b5f" data-trackable="subscribe-button">Subscribe for full access</a></div><nav class="o-header__drawer-menu o-header__drawer-menu--primary"><h2 id="top-sections" class="o-header__drawer-menu-item o-header__drawer-menu-item--heading">Top sections</h2><ul aria-labelledby="top-sections" 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--selected" href="/" data-trackable="Home" aria-label="Home, current page" aria-current="page">Home</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="/world" data-trackable="World">World</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-1" data-trackable="sub-level-toggle | World">Show more World</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-1" 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="/middle-east-war" data-trackable="Middle East war">Middle East war</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="/global-economy" data-trackable="Global Economy">Global 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="/world-uk" data-trackable="UK">UK</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" data-trackable="US">US</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="/china" data-trackable="China">China</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="/africa" data-trackable="Africa">Africa</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="/asia-pacific" data-trackable="Asia Pacific">Asia Pacific</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="/emerging-markets" data-trackable="Emerging Markets">Emerging 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="/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 &amp; North Africa">Middle East &amp; 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="/investing-in-america" data-trackable="Investing in America">Investing in America</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 &amp; Policy">US Politics &amp; Policy</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-presidential-election-2024" data-trackable="US Presidential Election 2024">US Presidential Election 2024</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 &amp; Consumer">Retail &amp; 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="/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="https://etf.ft.com" 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 &amp; Careers">Work &amp; 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 &amp; Careers">Show more Work &amp; 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&#x27;s Start-Up Hubs">Europe&#x27;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 &amp; Arts">Life &amp; 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 &amp; Arts">Show more Life &amp; 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 &amp; Drink">Food &amp; 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 &amp; Home">House &amp; 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="/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 &amp; Mortgages">Property &amp; Mortgages</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="/investments" data-trackable="Investments">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 &amp; Savings">Banking &amp; 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 &amp; Comment">Advice &amp; Comment</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="/next-act" data-trackable="Next Act">Next Act</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 class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="https://www.ft.com/tech-asia" data-trackable="#techAsia">#techAsia</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" 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" href="/visual-and-data-journalism" data-trackable="Visual and data journalism">Visual and data journalism</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/newsletters" data-trackable="Newsletters">Newsletters</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/video" data-trackable="Video">Video</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="https://www.ft.com/podcasts" data-trackable="Podcasts">Podcasts</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/news-feed" data-trackable="News feed">News feed</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/ft-schools" data-trackable="FT Schools">FT Schools</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="https://events.ft.com/events-list" data-trackable="FT Live Events">FT Live Events</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="https://forums.ft.com/" data-trackable="FT Forums">FT Forums</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="https://bdp.ft.com/" data-trackable="Board Director Programme">Board Director Programme</a></li></ul><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--divide"><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--secondary" href="/myft" data-trackable="myFT">myFT</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--secondary" href="https://markets.ft.com/data/portfolio/dashboard" data-trackable="Portfolio">Portfolio</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--secondary" href="https://www.ft.com/todaysnewspaper" data-trackable="FT Digital Edition">FT Digital Edition</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--secondary" href="https://www.ft.com/crossword" data-trackable="Crossword">Crossword</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--secondary" href="https://www.ft.com/tour/apps" data-trackable="Our Apps">Our Apps</a></li></ul></nav><nav class="o-header__drawer-menu o-header__drawer-menu--user" data-trackable="user-nav"><ul class="o-header__drawer-menu-list"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link" href="https://help.ft.com" data-trackable="Help Centre">Help Centre</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link" href="/products?segmentId=d290332b-e8e8-d29b-2ff4-2019b13f008a" data-trackable="Subscribe">Subscribe</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link" href="/login?location=/" data-trackable="Sign In">Sign In</a></li></ul></nav></div></div></div><script type="application/json" id="page-kit-app-context">{"appName":"home-page","product":"next","edition":"international","appVersion":"7aec65add05aeaeaaa52cd7909cad8286888025f","abTestState":"messageSlotBottom:cookieConsentC,chartbeat:variant,articlecommunitypromoevent:variant2,appleSignUpForBuyFlowTest:variant,homepageTestsHoldoutGroup:control","isProduction":true,"isUserLoggedIn":false,"pageKitVersion":"11.2.1"}</script><script type="application/json" id="page-kit-flags-embed">{"articleRelatedContent":true,"ads":true,"javascript":true,"oTracking":true,"articleComments":true,"myFtApi":true,"articleShareButtons":true,"myFtApiWrite":true,"adTargetingUserApi":true,"videoPlayerAdvertising":true,"streamMostRead":true,"openGraph":true,"nativeAds":true,"regionalNews":true,"syndication":true,"myFTEmailDisableABAlloc":true,"streamRecommendedStoriesList":true,"refererCohort":true,"newsletterSignupOnArticle":true,"myFTInstantNotifications":true,"myftPrioritiseTopics":true,"myftIndustryRecs":true,"showEventPromo":true,"myftConsentSwitch":true,"manageCookiesWhiteLabel":true,"myftIndustryRecsFeed":true,"AdsPermutive":true,"syndication_promo":true,"messageSlotBottom":"cookieConsentC","enableGTM":true,"myftNewNewLabel":true,"myftBoldNewArticles":true,"myftPageAppNotificationsToggle":true,"realUserMonitoringForPerformance":true,"textCopyTracking":true,"enableBrandmetricsSurveyScript":true,"managePremiumCancellationJourney":true,"articleInstantAlertsPromo":true,"manageStepUpCancellationJourney":true,"manageStandardCancellationJourney":true,"manageStepUpTransitionJourney":true,"manageDirectCancellationJourney":true,"privShowCCPALinkOnFooter":true,"optimizely":true,"graphicSyndication":true,"adsNativeLazyload":true,"enableRavelinOnProd":true,"enableMarketingAnalyticsTags":true,"streamPageGraphicsList":true,"useFlourish":true,"adsHighImpact":true,"monthlyTermForPremiumCovidCohort":true,"enableNonUKDeliveryAddress":true,"homePageHeaderMarketsData":true,"enableGoogleExtendedMeter":true,"inArticleContentSignUp":true,"frontPageCommunitySection":true,"newBuyFlow":true,"bizzaboRegistrationEnabled":true,"enableSingleTermSubscriptions":true,"newsletterAutoEnrolment":true,"eventsInMyFtPage":true,"eventsInDigestEmails":true,"eventsInStreamPage":true,"ftGlobetrotterBanner":true,"scrollytellingImages":true,"chartbeat":"variant","emailVerificationOnSignupForms":true,"AdsExtraMobileSlot":true,"dotcomPages":true,"fomoPage":true,"exponeaOnsiteMessaging":true,"homepageInteractivesEmbeds":true,"bankTransferFeature":true,"articlecommunitypromoevent":"variant2","purgeableLongTailArticleCaching":true,"myAccountLanding":true,"chatterboxChat":true,"liveChat":true,"billingDetailsConfirmationPage":true,"AdsCompaniesTypeaheadDemo":true,"reverseCancellation":true,"adsPGHomePage":true,"saveMeDisplayEdit":true,"adsCommentsRHR":true,"adsPGSearchPage":true,"stripeForIndia":true,"showNoOffersPageInRetention":true,"adsDisableInternalCMP":true,"myFTInstantAlertsOnboarding":true,"proCentralBanking":true,"magnetOnArticle":true,"myftFollowButton":true,"customCodeComponent":true,"extensibleFrontends":true,"adsAppDisableInternalCMP":true,"experimentalAccountEntryTest":true,"enableSubX":true,"homepageClips":true,"enableAppleSignUpForRegFlow":true,"enableAppleSignUpForBuyFlow":true,"workspaceTeaserContextMenu":true,"appleSignUpForBuyFlowTest":"variant","personalFinanceCourseOfferSubscriberRenewalJourney":true,"retentionDirectToSeperateCancelCompareController":true,"enableCorporateBarrier":true,"nextBestOfferRelaunch":true,"onboardingCsatSurveyEnabled":true,"adsInsertTexasDNSLink":true,"pro-signup-welcome-page-v2-enabled":true,"inArticleContentSignUpUSElectionNewsletter":true,"enableFTEditRegisterFlow":true,"backToTopButton":true,"adsEnableGpp":true,"enableStepUpNBO":true,"amplitudeExperiment":true,"pro-signup-onboarding-enabled":true,"useFlourishIFrame":true,"commentsOnlySubscriber":true,"pro-workspace-recommendation-cards-enabled":true,"articleToolsBox":true,"adsEnableFullBleedResponsive":true,"accountSettingsBillingDetailsPaypal":true,"adsVideoPageConsent":true,"clipsEnhancedPlayer":true,"adsEnableMiniBillboard":true,"ads-refresh-pc":true,"enableProfessionalSubscriptionCheck":true,"ads-validate-traffic-ias":true,"adsEnableMiniBillboardWeb":true,"adsMarketsDataWidget":true,"adsArticlePcStyling":true,"ads-adblock-recovery":true,"mprHomePageSlice":true,"liveChatProjectFelix":true,"liveBlogPagination":true,"enableWhiteHouseWatchNewsletterSignup":true,"articleBulletPointSummary":true}</script></body></html>

Pages: 1 2 3 4 5 6 7 8 9 10