Economics

EU member states will not be able to spend €150bn of new defence funding on US weapons, as Brussels seeks to increase the continent’s security rapidly while also developing its domestic arms industry. The European Commission has proposed borrowing €150bn worth of loans against the EU budget for member states to spend on weapons, as…

Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world When Elon Musk said he loved Donald Trump “as much as a straight man can love another”, the emetic effect was widespread. Trump is one of the few people left in Washington DC…

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The post-election Trump bump has come and gone. Along the way, no US stock was more powerfully buffeted than Tesla. Elon Musk’s carmaker had, at one point in December, gained $733bn in market capitalisation since…

Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world US and Ukrainian diplomatic delegations began high-stakes talks in Saudi Arabia on Tuesday that Kyiv hopes can repair its fraught relationship with Washington and restart American weapons delivery and intelligence-sharing. The Ukrainian team…

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Financial Times has announced Jon Slade as its new chief executive in the first change in leadership of the media group for almost two decades. Slade, who has served as chief commercial officer at…

Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Donald Trump has promised to buy a Tesla in a show of support for Elon Musk after shares in the electric-car maker tumbled 15 per cent in a Wall Street sell-off sparked by…

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Former Philippine president Rodrigo Duterte has been detained under an arrest warrant issued by the International Criminal Court over a crackdown on drugs that resulted in thousands of deaths in the south-east Asian country. Duterte,…

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A sell-off in global stocks eased on Tuesday in the wake of steep falls on Wall Street fuelled by investor concerns over the impact of Donald Trump’s policies on the US economy. Futures markets pointed…

Nvidia’s challengers are seizing a new opportunity to crack its dominance of artificial intelligence chips after Chinese start-up DeepSeek accelerated a shift in AI’s computing requirements. DeepSeek’s R1 and other so-called “reasoning” models, such as OpenAI’s o3 and Anthropic’s Claude 3.7, consume more computing resources than previous AI systems at the point when a user…

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is president of Queens’ College, Cambridge, and an adviser to Allianz and Gramercy Financial markets have witnessed a dramatic change that is overturning the consensus trades that dominated until early February of this…