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Only a fortnight ago, Russian forces were shelling Kharkiv from their positions on the outskirts of Ukraine’s second-biggest city. Those same troops have now been pushed up to 30km back towards the Russian border following a successful Ukrainian counter-attack that has emboldened Kyiv to raise its military ambitions and its hopes of driving the invaders

It’s art fair season again, but not quite as we knew it. Frieze New York, which opens in Manhattan’s The Shed on May 18, encapsulates the new normal better than most. In 2019, nearly 200 galleries participated in the fair’s trademark temporary tent on far-flung Randall’s Island, where it had been since its 2012 launch.

The three Baltic states have hailed Sweden and Finland’s expected accession to Nato as dramatically improving their own security and ability to repel any attack from Russia. The foreign ministers of Estonia, Latvia, and Lithuania told the Financial Times they would seek to ratify any membership application from Finland and Sweden as quickly as possible.

In 2003, Sophie Mörner, a Swedish native fresh out of a photography degree at New York University, started Capricious Magazine, devoted to the work of emerging photographers who were often also women and/or queer. The magazine, which soon expanded into a publishing initiative supporting feminist and queer journals, also spawned a project space in Williamsburg

Lenin, the Russian revolutionary leader, is said to have remarked that the best way to destroy the capitalist system was to debauch the currency. The Bank of England currently forecasts that inflation in the UK will soon top 10 per cent. This falls short of outright currency debasement. Yet we live in an economy where

It seems as though everywhere one looks in New York City, Latinx artists are making their mark. In April, El Museo del Barrio in East Harlem, established in 1969 as a neighbourhood museum by and for the Puerto Rican community, opened a major retrospective devoted to the work of its founder, Raphael Montañez Ortiz. Venture

The UK’s largest wealth managers have suffered a sharp reversal of portfolio performance this year as the economic environment punished growth-focused strategies and revived the fortunes of value stocks. Many portfolios that were riding high at the end of last year are now in the bottom quartile of performance and have been replaced at the

Tatiana Luboviski-Acosta has learned to perfect the art of the hustle. Born in Mexico and raised in Los Angeles, the San Francisco-based poet and visual artist has been working since the age of 14 to support their family. (They use the pronouns they/them.) They’re still the main provider for their mother and sister, working at

It is not often one hears from household names who are nudging three figures. Henry Kissinger, who will turn 99 this month, is older than any living world statesman. At the FTWeekend Festival in Washington last Saturday, the cold war grand strategist observed that we are “now living in a totally new era”. Given that

Invesco has added two onshore Chinese equity exchange traded funds to its line-up, both of which will use swaps to offer a synthetic replication model. The Invesco S&P China A 300 Swap and Invesco S&P China A MidCap 500 Swap Ucits ETFs have been launched on exchanges in the UK, Germany, Italy and Switzerland. The

Soaring inflation and supply chain bottlenecks have begun to crack the $1.5tn US junk bond market, as the lowest-quality borrowers show signs of stress. Unlike the falling stock market, junk bonds had largely escaped worries over the US economy as surging prices add costs for companies. Many bond issuers were flush with cash because they

EU high representative for foreign policy Josep Borrell is to be commended for his disarmingly frank comments (“EU weighs giving Hungary time and cash to agree oil sanctions”, Report, May 7) on the constraints facing Hungary as well as Slovakia and the Czech Republic endorsing the EU’s proposed embargo on Russian oil imports. Borrell rightly

Mary Ziegler’s interesting article (“Conflict over dismantling US abortion rights poses a political challenge”, Opinion, May 10) might also have addressed some other relevant points. A right is not an obligation. Those who, out of religious beliefs and/or a sense of ethics, refuse to exercise their right to have an abortion or refuse to enable

JML Stone highlights the “constant predatory (recruitment) activities of for-profit and non-profit US (healthcare) corporations in the UK” (Letters, May 9). Such “skimming off the top” of the NHS “inevitably means that excellent nurses and specialists are being sucked from the health service, but without any perceivable benefit to the indigenous population — in fact,

With regard to Alan Beattie’s insightful commentary “Trade policy cannot fix America’s inequality problem” (Opinion, FT.com, May 11), we need to add one major issue — education and training. Presidents Bill Clinton and George W Bush, and former vice-president Al Gore, when promoting free trade, overlooked President Teddy Roosevelt’s belief that trade agreements should only

Elon Musk, Tesla and SpaceX chief executive, spoke to Peter Campbell, global motor industry correspondent, at FT Live’s Future of the Car conference in London on Tuesday May 10. This is an edited transcript of their interview, which covered everything from buying a mining company to lifting the Twitter ban on Donald Trump. Peter Campbell (PC):

Sam Bankman-Fried, the billionaire founder of cryptocurrency exchange FTX, has amassed a 7.6 per cent stake in online retail brokerage Robinhood, calling it an “attractive investment”. Bankman-Fried said in a securities filing he has no “intention of taking any action toward changing or influencing the control of [Robinhood]” and bought the stake purely as an

Law firms often deal with a range of matters for their business clients beyond legal-specific issues. That has inspired several of the legal professionals featured here to develop new, complementary services in addition to their firms’ core activities. Others are highlighted for their efforts in encouraging their firms to embrace technology — saving time that

China’s biggest stock market listing in a decade — China Mobile — has, in some ways, been an unexpected success story. Its public share offering, in January, was significant not only for the amount of cash raised, but also for accelerating investment flows between China and the rest of the world. However, in raising Rmb48.7bn

Pink Floyd, known for hits such as “Money” and “Shine On You Crazy Diamond”, could soon be $500mn richer, with Warner Music and KKR-backed BMG competing to buy the band’s entire back catalogue, according to people familiar with the matter. The British rock group is testing market appetite in a bid to follow stars such