CINXE.COM

<!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&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&format=png&width=32&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&format=png&width=194&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&format=png&width=180&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/uk"/><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 uk edition', useCanonical: false, useCanonicalDomain: false, path: 'www.ft.com/?edition=uk', 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" referrerPolicy="no-referrer-when-downgrade"/><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","referrerPolicy":"no-referrer-when-downgrade","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.b105c1e05eb7.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/privacy-components.b8f9429fd8e4.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/financial-times-o-expander.96516cca2043.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.1c16988e7aee.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.8b1028d9b5c2.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.00c4b34be551.bundle.js" type="application/javascript"/><link rel="preload" as="font" href="https://www.ft.com/__origami/service/build/v3/font?font_format=woff2&font_name=MetricWeb-Regular&system_code=origami&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&font_name=MetricWeb-Semibold&system_code=origami&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&font_name=FinancierDisplayWeb-Regular&system_code=origami&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&font_name=FinancierDisplayWeb-Bold&system_code=origami&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.40763053abfd.css"/><link rel="stylesheet" href="https://www.ft.com/__assets/hashed/page-kit/styles.e44c81eeb66f.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.b105c1e05eb7.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/privacy-components.b8f9429fd8e4.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/financial-times-o-expander.96516cca2043.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.1c16988e7aee.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.8b1028d9b5c2.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.00c4b34be551.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.ft.com/page-resources/'+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 & 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/83b85e0c-9751-4428-95c9-3828b691468a" data-trackable="link">What’s really behind Trump’s abrupt pivot to Russia?</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/2dfe3eb9-4805-454a-90db-be01c3c23672" data-trackable="link">US stocks post worst slide in two months on gloomy economic data </a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/f4e1e7f6-1063-4e83-a8fa-e7ad42cca974" data-trackable="link">Ukraine to sign critical minerals deal ‘in the very short term’, US claims</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/bc20274f-f352-457c-8f86-32c6d4df8b92" data-trackable="link">Apple withdraws cloud encryption service from UK after government order</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/762cd291-2a62-4e00-b69f-c60f9ee31a6e" data-trackable="link">Britain is struggling to accept the end of Atlanticism</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="/world-uk" id="o-header-link-2" data-trackable="UK">UK</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 | UK"><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-uk" data-trackable="link">UK Home</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/uk-economy" data-trackable="link">UK Economy</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/uk-politics" data-trackable="link">UK Politics</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/uk-companies" data-trackable="link">UK Companies</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/personal-finance" data-trackable="link">Personal Finance</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/bc20274f-f352-457c-8f86-32c6d4df8b92" data-trackable="link">Apple withdraws cloud encryption service from UK after government order</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/762cd291-2a62-4e00-b69f-c60f9ee31a6e" data-trackable="link">Britain is struggling to accept the end of Atlanticism</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/2d396c1a-1c6a-43bb-bec3-3f034cead2ad" data-trackable="link">Top London restaurants adopt minimum spend to deter bots and influencers</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/e75c640f-4c69-41b3-9853-167266b40e16" data-trackable="link">UK budget surplus for January falls short of expectations</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/7707ca2a-11a0-4a4a-ab82-b331f7004fa0" data-trackable="link">How high-end City offices smashed through the £100 sq ft ceiling</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 & 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/bc20274f-f352-457c-8f86-32c6d4df8b92" data-trackable="link">Apple withdraws cloud encryption service from UK after government order</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/2d396c1a-1c6a-43bb-bec3-3f034cead2ad" data-trackable="link">Top London restaurants adopt minimum spend to deter bots and influencers</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/3c2f2147-5511-4b7c-b79b-2daf500a9d69" data-trackable="link">Vladimir Putin prepares for return of western companies to Russia</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/8376fcc2-7ee0-487b-ae13-7114d4ff84b4" data-trackable="link">Is air travel becoming more dangerous?</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/10ef8590-ca5a-4f66-a538-78dfd9f1cb8d" data-trackable="link">Was DEI really just performative political theatre?</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/bc20274f-f352-457c-8f86-32c6d4df8b92" data-trackable="link">Apple withdraws cloud encryption service from UK after government order</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/558b5a20-c25e-483d-8fdc-bbfd2923afd1" data-trackable="link">Trump considers tariffs to counter digital services taxes on Big Tech</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/67a4c030-a7f6-47af-bab0-a998f0a09506" data-trackable="link">Meta slashes staff stock awards as group embarks on AI spending drive</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/0c57e8b7-68d5-44ec-91ee-142c7b8fdcd5" data-trackable="link">Why would anyone want a humanoid robot?</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/63cf560a-69f3-42c2-82c3-7e8d97282716" data-trackable="link">Patience pays off in quantum computing</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="/etf-hub" 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/2dfe3eb9-4805-454a-90db-be01c3c23672" data-trackable="link">US stocks post worst slide in two months on gloomy economic data </a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/5d0121b9-f2ee-4674-a841-11e6f1b713ce" data-trackable="link">Hackers steal $1.5bn from crypto exchange Bybit in biggest-ever heist</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/1cce829b-bc56-4609-8fc6-82ebece8b8d5" data-trackable="link">Geopolitical rupture sparks quiet market rebellion</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/41777b77-7f27-4e37-a31f-3677e230d4a0" data-trackable="link">Bonus season: how does yours measure up?</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/b7f86e28-bada-4e24-ad12-057c6be6c9a4" data-trackable="link">Clerics’ rule change threatens to throw Islamic debt market into turmoil</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/762cd291-2a62-4e00-b69f-c60f9ee31a6e" data-trackable="link">Britain is struggling to accept the end of Atlanticism</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/1511aa42-a9ad-4952-99c8-98bea07d0414" data-trackable="link">America has turned on its friends</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/8376fcc2-7ee0-487b-ae13-7114d4ff84b4" data-trackable="link">Is air travel becoming more dangerous?</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/a5207c66-1cf6-40e5-b3bc-8ab25a0ec998" data-trackable="link">Eight investment rules to live and die by</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/10ef8590-ca5a-4f66-a538-78dfd9f1cb8d" data-trackable="link">Was DEI really just performative political theatre?</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 & Careers">Work & 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 & 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 & 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'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/10ef8590-ca5a-4f66-a538-78dfd9f1cb8d" data-trackable="link">Was DEI really just performative political theatre?</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/bf316cf0-cab3-47bc-a2f1-a4f52c751bfe" data-trackable="link">StanChart CEO says bonus cap led to ‘grotesque’ banker pay rises</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/7ab931b7-482d-42ae-bd8e-53451ddc7578" data-trackable="link">Citi becomes latest US company to abandon diversity targets</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/41777b77-7f27-4e37-a31f-3677e230d4a0" data-trackable="link">Bonus season: how does yours measure up?</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/db2c8c29-2f63-4fec-801e-7bca8d92992d" data-trackable="link">What Jamie Dimon’s viral leaked recording tells us</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 & Arts">Life & 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 & 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 & 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 & 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 & 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="/puzzles-games" data-trackable="link">Puzzles</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/2d396c1a-1c6a-43bb-bec3-3f034cead2ad" data-trackable="link">Top London restaurants adopt minimum spend to deter bots and influencers</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/ade67dda-0d23-4475-9321-e559e9ca2943" data-trackable="link">Belgium’s ex-PM Alexander De Croo: ‘There’s a risk that Europe is being redrawn’</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/abfb808b-1e9e-4b0c-80d4-38fba216b23f" data-trackable="link">The name’s Bezos, Jeff Bezos: what will Amazon do to James Bond?</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/a3b6e6c1-831f-45bc-8565-81193ce07f5a" data-trackable="link">Goodbye to the good guy</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/5461a1d2-6841-4a93-9ddf-8927c5b2dbfc" data-trackable="link">Ask Shrimsley: do I have to ditch my Tesla now?</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="/world-uk" data-trackable="UK" tabindex="-1">UK</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 & Careers" tabindex="-1">Work & 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 & Arts" tabindex="-1">Life & 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: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="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/d0fc0acd-d022-48d1-94f0-e4192712786a" 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%2F48f27ad9-656c-4a5e-bc95-776233b0ff6a.jpg?source=next-home-page&dpr=2&width=280&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%2F48f27ad9-656c-4a5e-bc95-776233b0ff6a.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F48f27ad9-656c-4a5e-bc95-776233b0ff6a.jpg?source=next-home-page&dpr=2&width=280&fit=scale-down" alt="Trump fires top US military officer in Pentagon shake-up" 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/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 & policy</span></a></div><div class="headline js-teaser-headline headline--scale-7 headline--color-black" data-content-id="d0fc0acd-d022-48d1-94f0-e4192712786a" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/d0fc0acd-d022-48d1-94f0-e4192712786a" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-7 text--weight-500" id="">Trump fires top US military officer in Pentagon shake-up</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/d0fc0acd-d022-48d1-94f0-e4192712786a" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">President removes CQ Brown and other senior leaders who he blames for pushing diversity, equity and inclusion policies</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="558b5a20-c25e-483d-8fdc-bbfd2923afd1" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/558b5a20-c25e-483d-8fdc-bbfd2923afd1" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Trump considers tariffs to counter digital services taxes on Big Tech</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-foreign-policy;storyGroup:medium" data-trackable-context-storygroup-size="medium" data-trackable-context-storygroup-title="us-foreign-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/83b85e0c-9751-4428-95c9-3828b691468a" 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%2F6284ef3a-1fba-4d49-ad53-0e261465666c.jpg?source=next-home-page&dpr=2&width=580&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%2F6284ef3a-1fba-4d49-ad53-0e261465666c.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F6284ef3a-1fba-4d49-ad53-0e261465666c.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down" alt="What’s really behind Trump’s abrupt pivot to Russia?" 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-foreign-policy" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">US foreign policy</span></a></div><div class="headline js-teaser-headline headline--scale-5 headline--color-black" data-content-id="83b85e0c-9751-4428-95c9-3828b691468a" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/83b85e0c-9751-4428-95c9-3828b691468a" 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="">Deep dive. </span></span><span class="text text--color-black text-display--scale-5 text--weight-400" id="">What’s really behind Trump’s abrupt pivot to Russia?</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'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/5a1be799-930b-4709-be40-a183ce8d96b4" 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%2F7ee657f5-3398-46f0-b51d-e580a6227f44.jpg?source=next-home-page&dpr=2&width=180&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%2F7ee657f5-3398-46f0-b51d-e580a6227f44.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F7ee657f5-3398-46f0-b51d-e580a6227f44.jpg?source=next-home-page&dpr=2&width=180&fit=scale-down" alt="The anti-woke overcorrection is here" class="image image--width-180"/></picture></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="5a1be799-930b-4709-be40-a183ce8d96b4" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/5a1be799-930b-4709-be40-a183ce8d96b4" 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 anti-woke overcorrection is here</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&dpr=2&width=40&height=40&fit=cover&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&dpr=2&width=580&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&dpr=2&width=40&height=40&fit=cover&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="0e52faf4-4faf-483c-82ee-0bab4d8a61a8" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/0e52faf4-4faf-483c-82ee-0bab4d8a61a8" 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="">There are no shortcuts to manage the Russia challenge</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/32a18ccd-4ac3-4c89-93eb-068c8630d99a" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Alexander Gabuev</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></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:us-equities;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="us-equities" 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/2dfe3eb9-4805-454a-90db-be01c3c23672" 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%2F9e2b2515-3163-4f39-a83a-8c2d4c744158.jpg?source=next-home-page&dpr=2&width=280&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%2F9e2b2515-3163-4f39-a83a-8c2d4c744158.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F9e2b2515-3163-4f39-a83a-8c2d4c744158.jpg?source=next-home-page&dpr=2&width=280&fit=scale-down" alt="US stocks post worst slide in two months on gloomy economic data " 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-equities" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">US equities</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="2dfe3eb9-4805-454a-90db-be01c3c23672" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/2dfe3eb9-4805-454a-90db-be01c3c23672" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-500" id="">US stocks post worst slide in two months on gloomy economic data </span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/2dfe3eb9-4805-454a-90db-be01c3c23672" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Sentiment among businesses and consumers cools sharply as tariffs and inflation take a toll</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:cryptocurrencies;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="cryptocurrencies" 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/5d0121b9-f2ee-4674-a841-11e6f1b713ce" 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%2Ff6f2edac-528b-4f0d-8c7c-7c53994872f8.jpg?source=next-home-page&dpr=2&width=280&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%2Ff6f2edac-528b-4f0d-8c7c-7c53994872f8.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Ff6f2edac-528b-4f0d-8c7c-7c53994872f8.jpg?source=next-home-page&dpr=2&width=280&fit=scale-down" alt="Hackers steal $1.5bn from crypto exchange Bybit in biggest-ever heist" 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/b564e2c2-40f1-4d00-b3cf-6fdacbf9ab6c" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Cryptocurrencies</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="5d0121b9-f2ee-4674-a841-11e6f1b713ce" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/5d0121b9-f2ee-4674-a841-11e6f1b713ce" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-500" id="">Hackers steal $1.5bn from crypto exchange Bybit in biggest-ever heist</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/5d0121b9-f2ee-4674-a841-11e6f1b713ce" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Theft deals blow to an industry that has been reinvigorated by Donald Trump’s re-election</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:spain;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="spain" 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/3a2d22a1-c7c1-46bc-abbf-7b9283fb2ce8" 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%2Fdf17f3b4-a0d7-47f9-b455-60393802868c.jpg?source=next-home-page&dpr=2&width=280&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%2Fdf17f3b4-a0d7-47f9-b455-60393802868c.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fdf17f3b4-a0d7-47f9-b455-60393802868c.jpg?source=next-home-page&dpr=2&width=280&fit=scale-down" alt="Why ‘Trump regime refugees’ are falling in love with Madrid" 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/spain" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Spain</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="3a2d22a1-c7c1-46bc-abbf-7b9283fb2ce8" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/3a2d22a1-c7c1-46bc-abbf-7b9283fb2ce8" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-500" id="">Why ‘Trump regime refugees’ are falling in love with Madrid</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/3a2d22a1-c7c1-46bc-abbf-7b9283fb2ce8" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Americans are finding a haven in Spain where their spending power goes a long way</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="2025-02-22T05:00:51+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:apple-inc;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="apple-inc" 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="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/bc20274f-f352-457c-8f86-32c6d4df8b92" 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%2F614b82fc-ba0e-476f-9ae6-d8214de87121.jpg?source=next-home-page&dpr=2&width=280&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%2F614b82fc-ba0e-476f-9ae6-d8214de87121.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F614b82fc-ba0e-476f-9ae6-d8214de87121.jpg?source=next-home-page&dpr=2&width=280&fit=scale-down" alt="Apple withdraws cloud encryption service from UK after government order" 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/apple-inc" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Apple Inc</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="bc20274f-f352-457c-8f86-32c6d4df8b92" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/bc20274f-f352-457c-8f86-32c6d4df8b92" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-500" id="">Apple withdraws cloud encryption service from UK after government order</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/bc20274f-f352-457c-8f86-32c6d4df8b92" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">iPhone-maker says it can no longer offer advanced protection in Britain after secret demand for ‘back door’ to user data</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="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:latest-from-monetary-policy-radar" data-trackable-context-list-type="latest-from-monetary-policy-radar" data-trackable-context-list-position="5" 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="">Federal Reserve</span></div><div class="monetary-policy-radar__headline"><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/b214eb6d-4827-40b6-a096-8cc9de1acb7c" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-400" id="">Alternative data: Superforecasters continue to beat the market</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="2025-02-20T12:05:47+0000">43 hours ago</time></div></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 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="">US interest rates</span></div><div class="monetary-policy-radar__headline"><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/6136bdf0-18b7-4533-884d-a6d69921cefe" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-400" id="">January’s FOMC minutes confirm holding pattern stance on rates</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="2025-02-19T20:56:05+0000">58 hours ago</time></div></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 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=""></span></div><div class="monetary-policy-radar__headline"><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/de73d44e-e65d-42a5-b22a-ea54ec49f7c7" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-400" id="">Transcript of FT interview with Isabel Schnabel </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="2025-02-19T11:05:38+0000">68 hours ago</time></div></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 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-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/ea6f5c15-01fc-48e5-b950-e7f41e483f4e" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-400" id="">UK CPI jumps to 3%</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="2025-02-19T08:14:52+0000">71 hours ago</time></div></span></div></div></div></div></div></div></div></div></div></div></div></div></section></div><div data-trackable="list:top-stories;listTitle:spotlight" data-trackable-context-list-type="top-stories" data-trackable-context-list-position="6" 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-featured"><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 & Arts</span></a></div><div class="headline js-teaser-headline headline--scale-5 headline--color-black" data-content-id="f94a71ee-0c42-4839-9521-e7866975fa72" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/f94a71ee-0c42-4839-9521-e7866975fa72" 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="">FT Magazine. </span></span><span class="text text--color-black text-display--scale-5 text--weight-400" id="">My brother, the NHS and the inquest into a needless death</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/f94a71ee-0c42-4839-9521-e7866975fa72" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">My brother spent the last hours of his life trying in vain to get basic help from the NHS. Why?</span></a></p></div><div class="grid-item grid-item--span-3 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="2025-02-22T05:00:51+0000">2 hours ago</time></div></div></div></div><div class="spotlight-story-main__image"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/f94a71ee-0c42-4839-9521-e7866975fa72" 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%2F4f8ec492-c4c0-4407-8286-9fb2d7ca3fd2.png?source=next-home-page&dpr=2&width=580&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%2F4f8ec492-c4c0-4407-8286-9fb2d7ca3fd2.png?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F4f8ec492-c4c0-4407-8286-9fb2d7ca3fd2.png?source=next-home-page&dpr=2&width=580&fit=scale-down" alt="My brother, the NHS and the inquest into a needless death" 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__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 & Arts</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="7d2d47dc-e05c-4ca4-9880-c8550f95288d" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/7d2d47dc-e05c-4ca4-9880-c8550f95288d" 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="">The Weekend Essay. </span></span><span class="text text--color-black text-display--scale-3 text--weight-500" id="">‘You know what? They quit!’ Resigning by proxy and the crisis of corporate Japan</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/7d2d47dc-e05c-4ca4-9880-c8550f95288d" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Agencies that help dissatisfied employees make a clean break are putting pressure on companies and exposing a demographic problem</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="2025-02-22T05:00:51+0000">2 hours ago</time></div></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:top-stories;listTitle:the-best-of-ftweekend" 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="the-best-of-ftweekend" class="slice-heading"><h2 class="slice-heading__title"><span class="text text--color-black-80 text-sans--scale-0" id="">The Best of FTWeekend</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:travel;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="travel" 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/aaf88d90-032a-49ee-8682-6f977a6ad055" 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%2Fcad385d1-abb9-4087-a3fc-b41bc76733d3.jpg?source=next-home-page&dpr=2&width=280&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%2Fcad385d1-abb9-4087-a3fc-b41bc76733d3.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fcad385d1-abb9-4087-a3fc-b41bc76733d3.jpg?source=next-home-page&dpr=2&width=280&fit=scale-down" alt="Across Corsica — in the footsteps of Dorothy Carrington" 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/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-3 headline--color-black" data-content-id="aaf88d90-032a-49ee-8682-6f977a6ad055" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/aaf88d90-032a-49ee-8682-6f977a6ad055" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-400" id="">Across Corsica — in the footsteps of Dorothy Carrington</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/aaf88d90-032a-49ee-8682-6f977a6ad055" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Visitors have a habit of falling for ‘the mountain in the sea’. For the British writer, her first sight of the island was the start of a life-long love affair</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="2025-02-22T05:00:51+0000">2 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="39eb9034-444c-458d-9aa4-d2ee349ffc0f" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/39eb9034-444c-458d-9aa4-d2ee349ffc0f" 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 Books Essay. </span></span><span class="text text--color-black text-display--scale-2 text--weight-400" id="">Big Tech and the genesis of AI’s new world order</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="2025-02-22T05:00:51+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-4 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:theatre;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="theatre" 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/e81f1129-97e1-4814-ab6d-a4a75338b5de" 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%2F4572e537-5666-49a8-bf76-06da7c167c1e.jpg?source=next-home-page&dpr=2&width=280&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%2F4572e537-5666-49a8-bf76-06da7c167c1e.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F4572e537-5666-49a8-bf76-06da7c167c1e.jpg?source=next-home-page&dpr=2&width=280&fit=scale-down" alt="The real Judi Dench: actor, gardener, punk, prankster, ‘dreadful’ cook" 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/theatre" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Theatre</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="e81f1129-97e1-4814-ab6d-a4a75338b5de" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/e81f1129-97e1-4814-ab6d-a4a75338b5de" 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="">HTSI. </span></span><span class="text text--color-black text-display--scale-3 text--weight-400" id="">The real Judi Dench: actor, gardener, punk, prankster, ‘dreadful’ cook</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/e81f1129-97e1-4814-ab6d-a4a75338b5de" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Who is the woman behind the legend? Friends and family share their favourite stories </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="b5fcda82-ead9-46ac-8d0c-2b4d3f8d5fa0" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/b5fcda82-ead9-46ac-8d0c-2b4d3f8d5fa0" 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-400" id="">How should we face up to danger?</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%2FEnuma-Okoro-e11766ef-1dc2-439e-8971-c154494828bb.png?source=next-home-page&dpr=2&width=40&height=40&fit=cover&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%2FEnuma-Okoro-e11766ef-1dc2-439e-8971-c154494828bb.png?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2FEnuma-Okoro-e11766ef-1dc2-439e-8971-c154494828bb.png?source=next-home-page&dpr=2&width=40&height=40&fit=cover&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/enuma-okoro" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Enuma Okoro</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:life-and-arts;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="life-and-arts" 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/bda50c20-e964-49a6-8548-ac23bdc05edd" 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%2F77854662-50ab-4032-8784-a8e3317dd177.jpg?source=next-home-page&dpr=2&width=280&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%2F77854662-50ab-4032-8784-a8e3317dd177.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F77854662-50ab-4032-8784-a8e3317dd177.jpg?source=next-home-page&dpr=2&width=280&fit=scale-down" alt="Blake Lively, Justin Baldoni and the end of the world" 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 & Arts</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="bda50c20-e964-49a6-8548-ac23bdc05edd" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/bda50c20-e964-49a6-8548-ac23bdc05edd" 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="">Blake Lively, Justin Baldoni and the end of the world</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/bda50c20-e964-49a6-8548-ac23bdc05edd" 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 celebrity slur campaign refuses to go away. It’s the perfect distraction</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&dpr=2&width=40&height=40&fit=cover&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&dpr=2&width=580&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&dpr=2&width=40&height=40&fit=cover&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="ade67dda-0d23-4475-9321-e559e9ca2943" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/ade67dda-0d23-4475-9321-e559e9ca2943" 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="">Belgium’s ex-PM Alexander De Croo: ‘There’s a risk that Europe is being redrawn’</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="83b85e0c-9751-4428-95c9-3828b691468a" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/83b85e0c-9751-4428-95c9-3828b691468a" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-0 text--weight-500" id="">What’s really behind Trump’s abrupt pivot to Russia?</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="bc20274f-f352-457c-8f86-32c6d4df8b92" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/bc20274f-f352-457c-8f86-32c6d4df8b92" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-0 text--weight-500" id="">Apple withdraws cloud encryption service from UK after government order</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="2dfe3eb9-4805-454a-90db-be01c3c23672" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/2dfe3eb9-4805-454a-90db-be01c3c23672" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-0 text--weight-500" id="">US stocks post worst slide in two months on gloomy economic data </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="f4e1e7f6-1063-4e83-a8fa-e7ad42cca974" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/f4e1e7f6-1063-4e83-a8fa-e7ad42cca974" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-0 text--weight-500" id="">Ukraine to sign critical minerals deal ‘in the very short term’, US claims</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="2d396c1a-1c6a-43bb-bec3-3f034cead2ad" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/2d396c1a-1c6a-43bb-bec3-3f034cead2ad" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-0 text--weight-500" id="">Top London restaurants adopt minimum spend to deter bots and influencers</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:war-in-ukraine;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="war-in-ukraine" 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/f4e1e7f6-1063-4e83-a8fa-e7ad42cca974" 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%2F5bb2e69c-b79e-4ad8-b81d-3681d533748c.jpg?source=next-home-page&dpr=2&width=280&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%2F5bb2e69c-b79e-4ad8-b81d-3681d533748c.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F5bb2e69c-b79e-4ad8-b81d-3681d533748c.jpg?source=next-home-page&dpr=2&width=280&fit=scale-down" alt="Ukraine to sign critical minerals deal ‘in the very short term’, US claims" 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/war-in-ukraine" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">War in Ukraine</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="f4e1e7f6-1063-4e83-a8fa-e7ad42cca974" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/f4e1e7f6-1063-4e83-a8fa-e7ad42cca974" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-500" id="">Ukraine to sign critical minerals deal ‘in the very short term’, US claims</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/f4e1e7f6-1063-4e83-a8fa-e7ad42cca974" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">National security adviser Mike Waltz tells conference that ‘economic partnership’ will be ‘good’ for Kyiv</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:travel-and-leisure-industry;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="travel-and-leisure-industry" 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/aae8626d-fe88-44d5-b1dc-47ec72353ae4" 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%2Fe9fd1f4b-a138-4062-a9b5-272389fe2dbb.jpg?source=next-home-page&dpr=2&width=280&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%2Fe9fd1f4b-a138-4062-a9b5-272389fe2dbb.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fe9fd1f4b-a138-4062-a9b5-272389fe2dbb.jpg?source=next-home-page&dpr=2&width=280&fit=scale-down" alt="Travel hotspots tempted to copy Venice visitor fee" 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/travel-leisure" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Travel & leisure industry</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="aae8626d-fe88-44d5-b1dc-47ec72353ae4" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/aae8626d-fe88-44d5-b1dc-47ec72353ae4" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-500" id="">Travel hotspots tempted to copy Venice visitor fee</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/aae8626d-fe88-44d5-b1dc-47ec72353ae4" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Tourism association head says cities should reduce burden on locals rather than attracting more visitors</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="2025-02-22T05:00:51+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-7 layout-desktop__grid--row-start-1 layout-desktop__grid--with-border layout--default"><div class="layout__grid-content"><div data-trackable="storyGroupTitle:investments;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="investments" 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/ee9a330a-a245-4db6-a539-06bd4c21a074" 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%2F07298013-0709-4a09-bc20-b27eb3057d7c.jpg?source=next-home-page&dpr=2&width=280&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%2F07298013-0709-4a09-bc20-b27eb3057d7c.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F07298013-0709-4a09-bc20-b27eb3057d7c.jpg?source=next-home-page&dpr=2&width=280&fit=scale-down" alt="£67bn of UK investors’ money is in underperforming funds" 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/investments" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Investments</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="ee9a330a-a245-4db6-a539-06bd4c21a074" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/ee9a330a-a245-4db6-a539-06bd4c21a074" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-400" id="">£67bn of UK investors’ money is in underperforming funds</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/ee9a330a-a245-4db6-a539-06bd4c21a074" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Wealth floundering in so-called ‘dog’ funds rises 26 per cent in six months, as investor Nick Train’s UK Equity product named among 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 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-insurance-industry;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="uk-insurance-industry" 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="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/19985ecb-09d1-4762-a8ca-78481cd870c7" 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%2F8905206e-a114-4794-bf48-8430d571a571.jpg?source=next-home-page&dpr=2&width=280&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%2F8905206e-a114-4794-bf48-8430d571a571.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F8905206e-a114-4794-bf48-8430d571a571.jpg?source=next-home-page&dpr=2&width=280&fit=scale-down" alt="Companies fail to stop furlough funds being deducted from pandemic payouts" 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-insurance-industry" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">UK insurance industry</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="19985ecb-09d1-4762-a8ca-78481cd870c7" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/19985ecb-09d1-4762-a8ca-78481cd870c7" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-500" id="">Companies fail to stop furlough funds being deducted from pandemic payouts</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/19985ecb-09d1-4762-a8ca-78481cd870c7" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Decision is latest in broader dispute between business policyholders and insurers over Covid coverage</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><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:german-election;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="german-election" 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/6a6d45c1-b259-4976-98f6-8ea8347f832b" 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%2F42350086-9537-4899-8352-9ef9b97220d4.jpg?source=next-home-page&dpr=2&width=280&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%2F42350086-9537-4899-8352-9ef9b97220d4.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F42350086-9537-4899-8352-9ef9b97220d4.jpg?source=next-home-page&dpr=2&width=280&fit=scale-down" alt="German federal election 2025: what’s at stake?" 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/german-election-2025" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">German election</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="6a6d45c1-b259-4976-98f6-8ea8347f832b" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/6a6d45c1-b259-4976-98f6-8ea8347f832b" 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="">Explainer. </span></span><span class="text text--color-black text-display--scale-3 text--weight-400" id="">German federal election 2025: what’s at stake?</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/6a6d45c1-b259-4976-98f6-8ea8347f832b" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Everything you need to know about the parties, policies and voting in Sunday’s polls</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="8be43051-bfcf-4664-9143-f9fe582c2f3a" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/8be43051-bfcf-4664-9143-f9fe582c2f3a" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-400" id="">Germany’s Merz says Europe can no longer rely on US protection</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:uk-immigration;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="uk-immigration" 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/6a6bbb0b-5c7f-4974-807d-7875ba235cb3" 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%2F0f6e753a-e95a-404a-96e1-b2300b739a5d.jpg?source=next-home-page&dpr=2&width=280&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%2F0f6e753a-e95a-404a-96e1-b2300b739a5d.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F0f6e753a-e95a-404a-96e1-b2300b739a5d.jpg?source=next-home-page&dpr=2&width=280&fit=scale-down" alt="Downing Street rejects plan for legal migration cap " 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-immigration" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">UK immigration</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="6a6bbb0b-5c7f-4974-807d-7875ba235cb3" data-is-exclusive="false" data-is-scoop="true"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/6a6bbb0b-5c7f-4974-807d-7875ba235cb3" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-500" id="">Downing Street rejects plan for legal migration cap </span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/6a6bbb0b-5c7f-4974-807d-7875ba235cb3" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Officials had been studying hard limit as way to reduce numbers </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:rick-buckler;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="rick-buckler" 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/4835d609-9a6c-4c70-920e-7978700acf57" 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%2Fd0c5b974-9f47-4ba6-a9b6-47362f0736fe.jpg?source=next-home-page&dpr=2&width=280&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%2Fd0c5b974-9f47-4ba6-a9b6-47362f0736fe.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fd0c5b974-9f47-4ba6-a9b6-47362f0736fe.jpg?source=next-home-page&dpr=2&width=280&fit=scale-down" alt="Rick Buckler, musician, 1955-2025" 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/03e8a8cf-210f-4b39-a5a6-b0cb3eca4058" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Rick Buckler</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="4835d609-9a6c-4c70-920e-7978700acf57" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/4835d609-9a6c-4c70-920e-7978700acf57" 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="">Obituary. </span></span><span class="text text--color-black text-display--scale-3 text--weight-400" id="">Rick Buckler, musician, 1955-2025</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/4835d609-9a6c-4c70-920e-7978700acf57" 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 drummer propelled The Jam to the front of the British punk rock scene of the 1970s</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="2025-02-22T05:00:51+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:unitedhealth-group-inc;storyGroup:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="unitedhealth-group-inc" 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/afccdabc-893e-4b87-a63b-141cfced441f" 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%2F610eba24-1301-4677-8e99-8f4dc7827b9d.jpg?source=next-home-page&dpr=2&width=280&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%2F610eba24-1301-4677-8e99-8f4dc7827b9d.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F610eba24-1301-4677-8e99-8f4dc7827b9d.jpg?source=next-home-page&dpr=2&width=280&fit=scale-down" alt="UnitedHealth’s Medicare billing process faces US justice department scrutiny" 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/18f33bb8-a001-46e0-b5dd-008add1d3437" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">UnitedHealth Group Inc</span></a></div><div class="headline js-teaser-headline headline--scale-3 headline--color-black" data-content-id="afccdabc-893e-4b87-a63b-141cfced441f" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/afccdabc-893e-4b87-a63b-141cfced441f" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-3 text--weight-500" id="">UnitedHealth’s Medicare billing process faces US justice department scrutiny</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/afccdabc-893e-4b87-a63b-141cfced441f" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Shares fall in country’s largest healthcare company which said it was unaware of any review</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="356d4ebe-ad37-42ed-849c-b91fdfb156ae" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/356d4ebe-ad37-42ed-849c-b91fdfb156ae" 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="">Person in the News. </span></span><span class="text text--color-black text-display--scale-5 text--weight-400" id="">Denise Cheung, the US prosecutor resisting Trump</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/356d4ebe-ad37-42ed-849c-b91fdfb156ae" 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 lifetime public servant, the by-the-book lawyer is the latest to defend the integrity of an increasingly imperilled justice system</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="primary-opinion-story__image"><a data-trackable="image-link" data-trackable-context-story-link="image-link" href="/content/356d4ebe-ad37-42ed-849c-b91fdfb156ae" 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%2F05803696-5f3f-48cd-b0ba-7308319cc0ee.jpg?source=next-home-page&dpr=2&width=580&height=435&fit=cover&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%2F05803696-5f3f-48cd-b0ba-7308319cc0ee.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F05803696-5f3f-48cd-b0ba-7308319cc0ee.jpg?source=next-home-page&dpr=2&width=580&height=435&fit=cover&gravity=poi" alt="Denise Cheung, the US prosecutor resisting Trump" 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="1cce829b-bc56-4609-8fc6-82ebece8b8d5" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/1cce829b-bc56-4609-8fc6-82ebece8b8d5" 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="">The Long View. </span></span><span class="text text--color-black text-display--scale-3 text--weight-500" id="">Geopolitical rupture sparks quiet market rebellion</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/1cce829b-bc56-4609-8fc6-82ebece8b8d5" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">It does not take a deep scratch beneath the surface to uncover investor nerves</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%2FKatie-Martin-749bf9e1-1d4d-4141-a8c9-bf6a56249292.png?source=next-home-page&dpr=2&width=40&height=40&fit=cover&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&dpr=2&width=580&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&dpr=2&width=40&height=40&fit=cover&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></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="762cd291-2a62-4e00-b69f-c60f9ee31a6e" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/762cd291-2a62-4e00-b69f-c60f9ee31a6e" 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 struggling to accept the end of Atlanticism</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-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="bfafb8f7-bd1c-48bb-85f4-8ba25475c0a3" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/bfafb8f7-bd1c-48bb-85f4-8ba25475c0a3" 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="">How Washington plans to defend the dollar </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&dpr=2&width=40&height=40&fit=cover&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&dpr=2&width=580&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&dpr=2&width=40&height=40&fit=cover&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-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="64f855c1-4174-44e3-97ce-8dfa6f1a627c" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/64f855c1-4174-44e3-97ce-8dfa6f1a627c" 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 new right should beware misplaced triumphalism</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_camilla-cavendish-fe05e8a2-a843-4b27-a1bf-e3e21e6a5a25.png?source=next-home-page&dpr=2&width=40&height=40&fit=cover&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_camilla-cavendish-fe05e8a2-a843-4b27-a1bf-e3e21e6a5a25.png?source=next-home-page&dpr=2&width=580&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_camilla-cavendish-fe05e8a2-a843-4b27-a1bf-e3e21e6a5a25.png?source=next-home-page&dpr=2&width=40&height=40&fit=cover&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/camilla-cavendish" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Camilla Cavendish</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-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="8376fcc2-7ee0-487b-ae13-7114d4ff84b4" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/8376fcc2-7ee0-487b-ae13-7114d4ff84b4" 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="">Data Points. </span></span><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Is air travel becoming more dangerous?</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_john-burn-murdoch-f23b000d-d775-4eb6-8d70-ecf96b03175d.png?source=next-home-page&dpr=2&width=40&height=40&fit=cover&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_john-burn-murdoch-f23b000d-d775-4eb6-8d70-ecf96b03175d.png?source=next-home-page&dpr=2&width=580&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_john-burn-murdoch-f23b000d-d775-4eb6-8d70-ecf96b03175d.png?source=next-home-page&dpr=2&width=40&height=40&fit=cover&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/stream/e191658e-c66a-45bc-9bad-343bdc4210b3" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">John Burn-Murdoch</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-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="1511aa42-a9ad-4952-99c8-98bea07d0414" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/1511aa42-a9ad-4952-99c8-98bea07d0414" 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="">America has turned on its friends</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="0c57e8b7-68d5-44ec-91ee-142c7b8fdcd5" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/0c57e8b7-68d5-44ec-91ee-142c7b8fdcd5" 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="">Why would anyone want a humanoid robot?</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/36e4fa37-b06f-4491-b40a-db728f0a0500" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Gideon Lichfield</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:uk-news" data-trackable-context-list-type="uk-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="uk-news" class="slice-heading"><h2 class="slice-heading__title"><a data-trackable="link" data-trackable-context-story-link="link" href="/world/uk" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-80 text-sans--scale-0" id="">UK 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="3ef3f3fc-cd0b-4e09-be5f-2b9939a7b8ba" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/3ef3f3fc-cd0b-4e09-be5f-2b9939a7b8ba" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-4 text--weight-500" id="">Vatican ‘let down’ by financier in London property deal, High Court says </span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/3ef3f3fc-cd0b-4e09-be5f-2b9939a7b8ba" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Judge rejects dishonesty allegations but finds Raffaele Mincione’s representation of London building’s value was ‘not frank’</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/3ef3f3fc-cd0b-4e09-be5f-2b9939a7b8ba" 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%2Ff65a4a77-b69d-4ce2-ac91-85447a8fe76e.jpg?source=next-home-page&dpr=2&width=580&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%2Ff65a4a77-b69d-4ce2-ac91-85447a8fe76e.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Ff65a4a77-b69d-4ce2-ac91-85447a8fe76e.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down" alt="Vatican ‘let down’ by financier in London property deal, High Court says " 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="2d396c1a-1c6a-43bb-bec3-3f034cead2ad" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/2d396c1a-1c6a-43bb-bec3-3f034cead2ad" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Top London restaurants adopt minimum spend to deter bots and influencers</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="15f7ee33-0540-414c-99dc-6e5467608833" data-is-exclusive="false" data-is-scoop="true"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/15f7ee33-0540-414c-99dc-6e5467608833" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Starmer warns cabinet about Blairism — while bringing in New Labour era staff </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="37f21bba-04f5-4142-81c3-4b2caf426a90" data-is-exclusive="false" data-is-scoop="true"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/37f21bba-04f5-4142-81c3-4b2caf426a90" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Thames Water receives £7bn bid from Hong Kong’s CK Infrastructure</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="9f67bbba-e935-4a76-9c4c-96e8d3d96c45" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/9f67bbba-e935-4a76-9c4c-96e8d3d96c45" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Global Counsel cleared of failing to disclose Qatari work </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="c546117d-1fbc-47c8-93a8-dd823311d2ac" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/c546117d-1fbc-47c8-93a8-dd823311d2ac" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">UK’s Hinkley Point C nuclear plant yet to attract new investors, says EDF boss </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="e75c640f-4c69-41b3-9853-167266b40e16" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/e75c640f-4c69-41b3-9853-167266b40e16" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">UK budget surplus for January falls short of expectations</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:uk-news;groupSize:small" data-trackable-context-storygroup-size="small" data-trackable-context-storygroup-title="uk-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 UK 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="uk-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/uk-business-economy" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">UK Business & 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="uk-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/uk/politics" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">UK Politics & Policy</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="uk-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/uk" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">UK 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="3" data-trackable-context-story-siblings="5" data-id="uk-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/brexit" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Brexit</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="uk-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/personal-finance" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Personal Finance</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://www.ft.com/newsletter-signup/inside-politics/promo?segmentId=6e0e1967-2b41-c957-bc2f-1d59a44e3b4a" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-700" id="">Inside Politics</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://www.ft.com/newsletter-signup/inside-politics/promo?segmentId=6e0e1967-2b41-c957-bc2f-1d59a44e3b4a" 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%2Finside-politics.png?source=next-home-page&dpr=2&width=280&height=280&fit=cover&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%2Finside-politics.png?source=next-home-page&dpr=2&width=580&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%2Finside-politics.png?source=next-home-page&dpr=2&width=280&height=280&fit=cover&gravity=poi" alt="Sign up to our newsletter for Inside Politics." 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/6e871b16-2237-4803-b910-5d70603275b0" 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%2Fb08242b8-bb44-4b97-b483-fb3958878380?source=next-home-page&dpr=2&width=180&height=180&fit=cover&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%2Fb08242b8-bb44-4b97-b483-fb3958878380?source=next-home-page&dpr=2&width=580&height=580&fit=cover&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%2Fb08242b8-bb44-4b97-b483-fb3958878380?source=next-home-page&dpr=2&width=180&height=180&fit=cover&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/6e871b16-2237-4803-b910-5d70603275b0" 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: Trump tries to bring watchdogs to heel</span></a></div><div class="podcast__suffix"><span class="text text--color-black-60 text-sans--scale-0" id="">13 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/d0eaeca9-d4c1-44a8-a5f5-2492360ff596" 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%2F1ae0d877-18c5-49c6-800e-58ea1f0d8acb?source=next-home-page&dpr=2&width=180&height=180&fit=cover&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%2F1ae0d877-18c5-49c6-800e-58ea1f0d8acb?source=next-home-page&dpr=2&width=580&height=580&fit=cover&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%2F1ae0d877-18c5-49c6-800e-58ea1f0d8acb?source=next-home-page&dpr=2&width=180&height=180&fit=cover&gravity=poi" alt="Political Fix 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/d0eaeca9-d4c1-44a8-a5f5-2492360ff596" 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="">Political Fix. </span></span><span class="text text--color-black text-display--scale-2 text--weight-400" id="">‘America is now an adversary’</span></a></div><div class="podcast__suffix"><span class="text text--color-black-60 text-sans--scale-0" id="">44 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/5b2c0df4-6515-4678-a650-74f2f3f77d60" 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%2F16143acd-e546-4151-900e-c08f60021932?source=next-home-page&dpr=2&width=180&height=180&fit=cover&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%2F16143acd-e546-4151-900e-c08f60021932?source=next-home-page&dpr=2&width=580&height=580&fit=cover&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%2F16143acd-e546-4151-900e-c08f60021932?source=next-home-page&dpr=2&width=180&height=180&fit=cover&gravity=poi" alt="The Economics Show 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/5b2c0df4-6515-4678-a650-74f2f3f77d60" 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 Economics Show. </span></span><span class="text text--color-black text-display--scale-2 text--weight-400" id="">Why are birth rates falling? With Alice Evans </span></a></div><div class="podcast__suffix"><span class="text text--color-black-60 text-sans--scale-0" id="">34 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/166f733b-6fa1-4c37-9896-bdcc37dc0b00" 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%2F11527fcb-06f8-4de6-b6c3-a2ad76dd783a?source=next-home-page&dpr=2&width=180&height=180&fit=cover&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%2F11527fcb-06f8-4de6-b6c3-a2ad76dd783a?source=next-home-page&dpr=2&width=580&height=580&fit=cover&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%2F11527fcb-06f8-4de6-b6c3-a2ad76dd783a?source=next-home-page&dpr=2&width=180&height=180&fit=cover&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/166f733b-6fa1-4c37-9896-bdcc37dc0b00" 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="">Is the IPO market broken?</span></a></div><div class="podcast__suffix"><span class="text text--color-black-60 text-sans--scale-0" id="">23 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 & 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 & 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 & 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/cf15d4f0-87d1-428d-ba3b-00a176e9ead3" 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%2F0d5489df-467c-4717-9bb1-ce0eda0fb3dd.jpg?source=next-home-page&dpr=2&width=580&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%2F0d5489df-467c-4717-9bb1-ce0eda0fb3dd.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F0d5489df-467c-4717-9bb1-ce0eda0fb3dd.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down" alt="Author Marlon James on his TV detective series: ‘There are 15 different Jamaicas’" 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/television" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Television</span></a></div><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="cf15d4f0-87d1-428d-ba3b-00a176e9ead3" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/cf15d4f0-87d1-428d-ba3b-00a176e9ead3" 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="">Interview. </span></span><span class="text text--color-black text-display--scale-2 text--weight-400" id="">Author Marlon James on his TV detective series: ‘There are 15 different Jamaicas’</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/a7ccafb9-b5bd-466f-82aa-78389811ffa9" 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%2F6eb77f99-f5f2-43ae-9663-82806cbb3172.jpg?source=next-home-page&dpr=2&width=580&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%2F6eb77f99-f5f2-43ae-9663-82806cbb3172.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F6eb77f99-f5f2-43ae-9663-82806cbb3172.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down" alt="Lubaina Himid and Magda Stawarska on life, love and work" 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/visual-arts" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Visual Arts</span></a></div><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="a7ccafb9-b5bd-466f-82aa-78389811ffa9" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/a7ccafb9-b5bd-466f-82aa-78389811ffa9" 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="">Lubaina Himid and Magda Stawarska on life, love and work</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/56b5d226-2f79-408d-bcab-9c1dcbedbb1e" 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%2F054e08cf-7759-46c9-a1e3-07c56db0521f.jpg?source=next-home-page&dpr=2&width=580&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%2F054e08cf-7759-46c9-a1e3-07c56db0521f.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F054e08cf-7759-46c9-a1e3-07c56db0521f.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down" alt="William Morris, Islamic art and a reason to fall in love with the ‘enamelled lawn’ again " 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/gardens" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Gardens</span></a></div><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="56b5d226-2f79-408d-bcab-9c1dcbedbb1e" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/56b5d226-2f79-408d-bcab-9c1dcbedbb1e" 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-400" id="">William Morris, Islamic art and a reason to fall in love with the ‘enamelled lawn’ again </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/e31bf0e8-64e1-41c5-85ac-5a525ed42c70" 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%2F6bc03fd3-7851-4e17-bc08-3a7c00f56cd2.jpg?source=next-home-page&dpr=2&width=580&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%2F6bc03fd3-7851-4e17-bc08-3a7c00f56cd2.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F6bc03fd3-7851-4e17-bc08-3a7c00f56cd2.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down" alt="Paloma Wool — from Instagram star to bonafide fashion label" 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/womenswear" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Womenswear</span></a></div><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="e31bf0e8-64e1-41c5-85ac-5a525ed42c70" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/e31bf0e8-64e1-41c5-85ac-5a525ed42c70" 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="">Interview. </span></span><span class="text text--color-black text-display--scale-2 text--weight-400" id="">Paloma Wool — from Instagram star to bonafide fashion label</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/8cf3af1b-266f-4ba0-bdd4-3c3d0908ae64" 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%2F91b16e74-e54d-49b2-8698-1ee0bd8b432a.jpg?source=next-home-page&dpr=2&width=580&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%2F91b16e74-e54d-49b2-8698-1ee0bd8b432a.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F91b16e74-e54d-49b2-8698-1ee0bd8b432a.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down" alt="What stories would you tell in stained glass?" 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/interiors" class="link" target="_self" aria-hidden="false"><span class="text text--color-claret text-sans--scale-0 text--weight-600" id="">Interiors</span></a></div><div class="headline js-teaser-headline headline--scale-2 headline--color-black" data-content-id="8cf3af1b-266f-4ba0-bdd4-3c3d0908ae64" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/8cf3af1b-266f-4ba0-bdd4-3c3d0908ae64" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-400" id="">What stories would you tell in stained glass?</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/cffdbfff-8bc3-4f9b-824c-b37c848f2cb4" 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%2F4565fa90-7879-4642-ad8a-90e1b396a8eb?source=next-home-page&dpr=2&width=180&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%2F4565fa90-7879-4642-ad8a-90e1b396a8eb?source=next-home-page&dpr=2&width=580&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%2F4565fa90-7879-4642-ad8a-90e1b396a8eb?source=next-home-page&dpr=2&width=180&fit=scale-down" alt="Russia is executing Ukraine POWs" 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>35 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/cffdbfff-8bc3-4f9b-824c-b37c848f2cb4" 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="">'Film me!’: Russia's executions of Ukrainian POWs point to a policy</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="2025-02-20T04:02:14+0000">51 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/f7aa6dd3-9c17-4bf7-8d21-8e7d356b105d" 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%2Fdb33cd5b-3143-42f5-9479-87949ab1e82e?source=next-home-page&dpr=2&width=180&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%2Fdb33cd5b-3143-42f5-9479-87949ab1e82e?source=next-home-page&dpr=2&width=580&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%2Fdb33cd5b-3143-42f5-9479-87949ab1e82e?source=next-home-page&dpr=2&width=180&fit=scale-down" alt="Windhorst: scandal, spies & a superyacht" 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>31 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/f7aa6dd3-9c17-4bf7-8d21-8e7d356b105d" 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="">Lars Windhorst and H2O: scandal, spies and the superyacht</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="2024-12-18T05:01:59+0000">1586 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/0cf4cc1e-6f7b-42de-a872-87105ae85a25" 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%2Fc8db4479-3cad-47bd-8779-4b96458e7b1c?source=next-home-page&dpr=2&width=180&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%2Fc8db4479-3cad-47bd-8779-4b96458e7b1c?source=next-home-page&dpr=2&width=580&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%2Fc8db4479-3cad-47bd-8779-4b96458e7b1c?source=next-home-page&dpr=2&width=180&fit=scale-down" alt="" 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>27 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/0cf4cc1e-6f7b-42de-a872-87105ae85a25" 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="">How safety lapses hit Boeing's reputation</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="2024-12-10T04:58:21+0000">1778 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/9c40edd0-9320-403b-939d-d914fa9b0185" 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%2Fd131efaf-c457-45de-bfe4-c560a82348c9?source=next-home-page&dpr=2&width=180&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%2Fd131efaf-c457-45de-bfe4-c560a82348c9?source=next-home-page&dpr=2&width=580&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%2Fd131efaf-c457-45de-bfe4-c560a82348c9?source=next-home-page&dpr=2&width=180&fit=scale-down" alt="Sadiq Khan on hunger in London classrooms" 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/684189d9-1a08-4e6b-b392-be3b3f9f640a" 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">Sadiq Khan</span></span></a><span class="text text--color-white text-sans--scale-0 text--weight-400" id=""><span>14 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/9c40edd0-9320-403b-939d-d914fa9b0185" 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="">Sadiq Khan on hunger in London classrooms</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="2024-12-04T13:02:02+0000">1914 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="19346af7-f272-41c9-9e3a-2ebd9fad6209" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/19346af7-f272-41c9-9e3a-2ebd9fad6209" 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="">The Big Read. </span></span><span class="text text--color-black text-display--scale-4 text--weight-500" id="">What an idle copper mine in Panama says about the green transition</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/19346af7-f272-41c9-9e3a-2ebd9fad6209" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Just as the country is battling Donald Trump’s threats over the Panama Canal, a bitter environmental feud has reopened over the future of the country’s biggest mining project</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/19346af7-f272-41c9-9e3a-2ebd9fad6209" 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%2F9c1df3dd-d7ce-4e98-811d-c29bc10575b2.jpg?source=next-home-page&dpr=2&width=580&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%2F9c1df3dd-d7ce-4e98-811d-c29bc10575b2.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F9c1df3dd-d7ce-4e98-811d-c29bc10575b2.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down" alt="What an idle copper mine in Panama says about the green transition" 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="56b5d226-2f79-408d-bcab-9c1dcbedbb1e" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/56b5d226-2f79-408d-bcab-9c1dcbedbb1e" 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="">William Morris, Islamic art and a reason to fall in love with the ‘enamelled lawn’ again </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_robin-lane-fox-0bbf3578-8ba0-4945-9204-be2156da24da.png?source=next-home-page&dpr=2&width=40&height=40&fit=cover&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_robin-lane-fox-0bbf3578-8ba0-4945-9204-be2156da24da.png?source=next-home-page&dpr=2&width=580&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_robin-lane-fox-0bbf3578-8ba0-4945-9204-be2156da24da.png?source=next-home-page&dpr=2&width=40&height=40&fit=cover&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/robin-lane-fox" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Robin Lane Fox</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-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="4569ad76-f3e0-4fd9-8f6b-468f91ce32b3" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/4569ad76-f3e0-4fd9-8f6b-468f91ce32b3" 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="">China’s unspoken question: who will succeed Xi Jinping?</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="beb38eb8-408c-4cdb-8086-77545d52099f" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/beb38eb8-408c-4cdb-8086-77545d52099f" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">How Europe can defend itself without US help</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="dff04f67-f959-4c7a-bfcd-58fbb54bfbee" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/dff04f67-f959-4c7a-bfcd-58fbb54bfbee" 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="">Trade Secrets. </span></span><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Trump’s risible ‘reciprocal’ tariffs</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="83073df6-3d89-497e-b2c5-7a766213543d" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/83073df6-3d89-497e-b2c5-7a766213543d" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">German city scarred by Nazi past grapples with rise of far right</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="8370db31-e9d8-4aa8-ae00-8c1a716b4b6c" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/8370db31-e9d8-4aa8-ae00-8c1a716b4b6c" 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="">Should weight-loss drugs be given to children?</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&dpr=2&width=280&height=280&fit=cover&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&dpr=2&width=580&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&dpr=2&width=280&height=280&fit=cover&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="b7f86e28-bada-4e24-ad12-057c6be6c9a4" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/b7f86e28-bada-4e24-ad12-057c6be6c9a4" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-4 text--weight-500" id="">Clerics’ rule change threatens to throw Islamic debt market into turmoil</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/b7f86e28-bada-4e24-ad12-057c6be6c9a4" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Proposed new standards could reshape sharia-compliant bonds and hit growth of $1tn market</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/b7f86e28-bada-4e24-ad12-057c6be6c9a4" 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%2Fa7219536-835c-4ac8-bf84-a9af1a57bb24.jpg?source=next-home-page&dpr=2&width=580&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%2Fa7219536-835c-4ac8-bf84-a9af1a57bb24.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fa7219536-835c-4ac8-bf84-a9af1a57bb24.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down" alt="Clerics’ rule change threatens to throw Islamic debt market into turmoil" 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="73aef243-0518-42b5-b732-2e64ace3994c" data-is-exclusive="false" data-is-scoop="true"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/73aef243-0518-42b5-b732-2e64ace3994c" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">China’s holdings of US Treasuries fall to lowest level since 2009</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="a13eeda8-3e54-463b-9563-e811a30a056c" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/a13eeda8-3e54-463b-9563-e811a30a056c" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Bond investors brace for Europe’s defence spending ‘bazooka’</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="867e8304-2652-42d2-8243-6acdb9307576" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/867e8304-2652-42d2-8243-6acdb9307576" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">UK to cut securities settlement time in 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"><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="f24122a5-7cac-4fff-a057-5cdceadee947" data-is-exclusive="false" data-is-scoop="true"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/f24122a5-7cac-4fff-a057-5cdceadee947" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Trump’s late-night posts send currency traders to Asian markets</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="f4fe59c4-0c05-4adb-af28-6ff3dbfe628a" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/f4fe59c4-0c05-4adb-af28-6ff3dbfe628a" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Glencore reviews London listing as miners sour on UK market </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="df8096b2-755e-4e91-a81b-35f87bd5ab78" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/df8096b2-755e-4e91-a81b-35f87bd5ab78" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">European defence shares surge as investors bet on higher spending</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="0c57e8b7-68d5-44ec-91ee-142c7b8fdcd5" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/0c57e8b7-68d5-44ec-91ee-142c7b8fdcd5" class="link" target="_self" aria-hidden="false"><span placeholder="headlineIndicator" class="headline-indicator"><span class="icon icon--opinion icon--scale-4"> <span class="o-normalise-visually-hidden">opinion content. </span></span></span><span class="text text--color-black text-display--scale-4 text--weight-500" id="">Why would anyone want a humanoid robot?</span></a></div><p class="standfirst"><a data-trackable="standfirst-link" data-trackable-context-story-link="standfirst-link" href="/content/0c57e8b7-68d5-44ec-91ee-142c7b8fdcd5" class="link" target="_self" aria-hidden="false"><span class="text text--color-black-60 text-sans--scale-0 text--style--no-active-state" id="">Optimal design would avoid the evolutionary compromises that made us</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/36e4fa37-b06f-4491-b40a-db728f0a0500" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-sans--scale-0" id="">Gideon Lichfield</span></a></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/0c57e8b7-68d5-44ec-91ee-142c7b8fdcd5" 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%2F3501d339-861b-4767-b67f-2ef6e1197c4c.jpg?source=next-home-page&dpr=2&width=580&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%2F3501d339-861b-4767-b67f-2ef6e1197c4c.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down"/><img src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F3501d339-861b-4767-b67f-2ef6e1197c4c.jpg?source=next-home-page&dpr=2&width=580&fit=scale-down" alt="Why would anyone want a humanoid robot?" 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="c5d1522a-5ed2-47ff-9f33-34c7823f271a" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/c5d1522a-5ed2-47ff-9f33-34c7823f271a" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Alibaba shares jump 14% after pledge to invest ‘aggressively’ in AI</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="64f7a0d8-1b9c-456d-890e-f39a2278a95a" data-is-exclusive="false" data-is-scoop="true"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/64f7a0d8-1b9c-456d-890e-f39a2278a95a" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Meta’s ‘free speech’ revamp divides oversight board</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="e679b887-00d8-4937-8a9d-1e2a8dd9c19a" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/e679b887-00d8-4937-8a9d-1e2a8dd9c19a" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Japan warns over threat from China’s chip material export controls</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="35266a4f-e296-45c5-a578-df1fccda318e" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/35266a4f-e296-45c5-a578-df1fccda318e" 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="">Newsletter. </span></span><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Apple expands India manufacturing </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="67a4c030-a7f6-47af-bab0-a998f0a09506" data-is-exclusive="false" data-is-scoop="true"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/67a4c030-a7f6-47af-bab0-a998f0a09506" class="link" target="_self" aria-hidden="false"><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Meta slashes staff stock awards as group embarks on AI spending drive</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="dd0c10cd-4afe-44c2-93b9-a682a444fd0f" data-is-exclusive="false" data-is-scoop="false"><a data-trackable="heading-link" data-trackable-context-story-link="heading-link" href="/content/dd0c10cd-4afe-44c2-93b9-a682a444fd0f" 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="">Lex. </span></span><span class="text text--color-black text-display--scale-2 text--weight-500" id="">Musk’s elevated status could raise X’s value too</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="960ddc14-ebef-4588-8ea1-5ddd7e5c1d21" data-o-tracking-view="true"><div class="event-teaser__content-container"><div class="event-teaser__details"><a class="event-teaser__brand" href="https://businessoffootball.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://businessoffootball.live.ft.com" title="Business of Football Summit">Business of Football Summit</a></div><span class="event-teaser__standfirst">The global gathering of leaders in football and finance</span></div><div class="event-teaser__footer"><span class="event-teaser__timestamp event-teaser__timestamp--start-date"><time dateTime="2025-02-26T09:00:00.000Z">Wednesday, 26 February</time></span><span class="event-teaser__location">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="9fc902ab-eb63-4e1b-b075-d165b4eab0bb" data-o-tracking-view="true"><div class="event-teaser__content-container"><div class="event-teaser__details"><a class="event-teaser__brand" href="https://energysecurity.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://energysecurity.live.ft.com" title="Energy Security and Decarbonisation in Southeastern Europe">Energy Security and Decarbonisation in Southeastern Europe</a></div><span class="event-teaser__standfirst">Balancing priorities in a volatile world</span></div><div class="event-teaser__footer"><span class="event-teaser__timestamp event-teaser__timestamp--start-date"><time dateTime="2025-02-27T13:00:00.000Z">Thursday, 27 February</time></span><span class="event-teaser__location">Free Webinar</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="5fcebc59-1864-4e02-8b45-796581697d2a" data-o-tracking-view="true"><div class="event-teaser__content-container"><div class="event-teaser__details"><a class="event-teaser__brand" href="https://europe-at-a-crossroads.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://europe-at-a-crossroads.live.ft.com" title="Europe at a Crossroads">Europe at a Crossroads</a></div><span class="event-teaser__standfirst">Exclusively for FT Subscribers | Can the EU meet its challenges?</span></div><div class="event-teaser__footer"><span class="event-teaser__timestamp event-teaser__timestamp--start-date"><time dateTime="2025-02-27T13:00:00.000Z">Thursday, 27 February</time></span><span class="event-teaser__location">Online</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 & 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 & Conditions"><span class="o-footer__matrix-link__copy">Terms & 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 & Policies"><span class="o-footer__matrix-link__copy">Slavery Statement & 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&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://digitaleditionapp.ft.com/i9DX/259czdht" 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 & 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 2025. <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">UK</span><div class="o-header__drawer-divider"></div><a class="o-header__drawer-menu-link" href="/?edition=international">International</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 & North Africa">Middle East & North Africa</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/world-uk" data-trackable="UK">UK</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 | UK">Show more UK</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="/uk-economy" data-trackable="UK Economy">UK 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="/uk-politics" data-trackable="UK Politics">UK Politics</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="/uk-companies" data-trackable="UK Companies">UK 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="/personal-finance" data-trackable="Personal Finance">Personal Finance</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/companies" data-trackable="Companies">Companies</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-3" data-trackable="sub-level-toggle | Companies">Show more Companies</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-3" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/energy" data-trackable="Energy">Energy</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/financials" data-trackable="Financials">Financials</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/health" data-trackable="Health">Health</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/industrials" data-trackable="Industrials">Industrials</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/media" data-trackable="Media">Media</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/professional-services" data-trackable="Professional Services">Professional Services</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/retail-consumer" data-trackable="Retail & Consumer">Retail & Consumer</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/technology-sector" data-trackable="Tech Sector">Tech Sector</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/telecoms" data-trackable="Telecoms">Telecoms</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/transport" data-trackable="Transport">Transport</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/technology" data-trackable="Tech">Tech</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-4" data-trackable="sub-level-toggle | Tech">Show more Tech</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-4" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/artificial-intelligence" data-trackable="Artificial intelligence">Artificial intelligence</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/semiconductors" data-trackable="Semiconductors">Semiconductors</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/cyber-security" data-trackable="Cyber Security">Cyber Security</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/social-media" data-trackable="Social Media">Social Media</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/markets" data-trackable="Markets">Markets</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-5" data-trackable="sub-level-toggle | Markets">Show more Markets</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-5" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/alphaville" data-trackable="Alphaville">Alphaville</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="https://markets.ft.com/data" data-trackable="Markets Data">Markets Data</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/crypto" data-trackable="Crypto">Crypto</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/capital-markets" data-trackable="Capital Markets">Capital Markets</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/commodities" data-trackable="Commodities">Commodities</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/currencies" data-trackable="Currencies">Currencies</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/equities" data-trackable="Equities">Equities</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/ft-wealth-management" data-trackable="Wealth Management">Wealth Management</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/moral-money" data-trackable="Moral Money">Moral Money</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/etf-hub" data-trackable="ETF Hub">ETF Hub</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/fund-management" data-trackable="Fund Management">Fund Management</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/ft-trading-room" data-trackable="Trading">Trading</a></li></ul></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/climate-capital" data-trackable="Climate">Climate</a></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/opinion" data-trackable="Opinion">Opinion</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-7" data-trackable="sub-level-toggle | Opinion">Show more Opinion</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-7" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/columnists" data-trackable="Columnists">Columnists</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/ft-view" data-trackable="The FT View">The FT View</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/the-big-read" data-trackable="The Big Read">The Big Read</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/lex" data-trackable="Lex">Lex</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/obituaries" data-trackable="Obituaries">Obituaries</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/letters" data-trackable="Letters">Letters</a></li></ul></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/lex" data-trackable="Lex">Lex</a></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/work-careers" data-trackable="Work & Careers">Work & Careers</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-9" data-trackable="sub-level-toggle | Work & Careers">Show more Work & Careers</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-9" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="https://rankings.ft.com/business-education" data-trackable="Business School Rankings">Business School Rankings</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/business-education" data-trackable="Business Education">Business Education</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="https://rankings.ft.com/incubator-accelerator-programmes-europe" data-trackable="Europe's Start-Up Hubs">Europe's Start-Up Hubs</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/entrepreneurship" data-trackable="Entrepreneurship">Entrepreneurship</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/recruitment" data-trackable="Recruitment">Recruitment</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/business-books" data-trackable="Business Books">Business Books</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/business-travel" data-trackable="Business Travel">Business Travel</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/working-it" data-trackable="Working It">Working It</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/life-arts" data-trackable="Life & Arts">Life & Arts</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-10" data-trackable="sub-level-toggle | Life & Arts">Show more Life & Arts</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-10" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/arts" data-trackable="Arts">Arts</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/books" data-trackable="Books">Books</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/food-drink" data-trackable="Food & Drink">Food & Drink</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/magazine" data-trackable="FT Magazine">FT Magazine</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/house-home" data-trackable="House & Home">House & Home</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/style" data-trackable="Style">Style</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/puzzles-games" data-trackable="Puzzles">Puzzles</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/travel" data-trackable="Travel">Travel</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/globetrotter" data-trackable="FT Globetrotter">FT Globetrotter</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/personal-finance" data-trackable="Personal Finance">Personal Finance</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-11" data-trackable="sub-level-toggle | Personal Finance">Show more Personal Finance</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-11" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/mortgages" data-trackable="Property & Mortgages">Property & Mortgages</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--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 & Savings">Banking & Savings</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/advice-comment" data-trackable="Advice & Comment">Advice & Comment</a></li><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://digitaleditionapp.ft.com/i9DX/259czdht" 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":"uk","appVersion":"91b86c3e01c09114b99150ba40539b97b34c524a","abTestState":"messageSlotBottom:cookieConsentC,chartbeat:variant,articlecommunitypromoevent:variant2,appleSignUpForBuyFlowTest:variant,homepageTestsHoldoutGroup:variant,adsmvt2:variant-2","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,"syndication":true,"myFTEmailDisableABAlloc":true,"streamRecommendedStoriesList":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,"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,"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,"onboardingCsatSurveyEnabled":true,"homepageTestsHoldoutGroup":"variant","adsInsertTexasDNSLink":true,"pro-signup-welcome-page-v2-enabled":true,"inArticleContentSignUpUSElectionNewsletter":true,"enableFTEditRegisterFlow":true,"backToTopButton":true,"amplitudeExperiment":true,"pro-signup-onboarding-enabled":true,"useFlourishIFrame":true,"commentsOnlySubscriber":true,"pro-workspace-recommendation-cards-enabled":true,"articleToolsBox":true,"accountSettingsBillingDetailsPaypal":true,"adsVideoPageConsent":true,"clipsEnhancedPlayer":true,"adsEnableMiniBillboard":true,"ads-refresh-pc":true,"enableProfessionalSubscriptionCheck":true,"ads-validate-traffic-ias":true,"adsEnableMiniBillboardWeb":true,"professional-newsletter-autoenrol-ab":true,"adsArticlePcStyling":true,"mprHomePageSlice":true,"liveChatProjectFelix":true,"ads-first-party-gtm":true,"liveBlogPagination":true,"enableWhiteHouseWatchNewsletterSignup":true,"articleBulletPointSummary":true,"adsEnableGpp":true,"adsValidateTraffic":true,"enableZephr":true,"enableOneMustReadNewsletterSignup":true,"adsmvt2":"variant-2"}</script></body></html>