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Regional banks across the US have largely stopped the massive outflow of deposits that threatened their stability after the collapse of Silicon Valley Bank but their profit margins are shrinking unexpectedly quickly. Many of the more than a dozen midsized US banks that reported earnings this week warned the turmoil following SVB’s collapse had heightened

Ukrainian infantrymen charged across a boggy field, Kalashnikovs raised, unleashing a flurry of bullets. “Move! Move! Move!” came the order. Concealed by the cloud from a smoke bomb, one soldier raised a rocket-propelled grenade launcher and fired at a target 50 metres away — and missed. The group’s trainer ordered them to run the drill

India has surpassed China as the world’s most populous country, according to UN data released on Wednesday, marking a historic crossover moment for the two Asian neighbours and geopolitical rivals.  According to the UN’s Population Dashboard, India’s population has surpassed 1.428bn, just overtaking China’s more than 1.425bn people. The update in the population estimates came

This is an audio transcript of the Working It podcast episode: ‘How to turn around a toxic workplace culture’ Isabel BerwickHello. Before we dive into this week’s Working It podcast, I wanted to let you know about a free FT virtual event. I’m hosting a live chat about handling your finances, talking to my FT

French shipping group CMA CGM has offered to buy the logistics business of billionaire Vincent Bolloré in a deal that would value it at €5bn, as it extends an acquisition spree after making outsized profits during the height of the pandemic. The two groups said on Tuesday that they would now hold exclusive negotiations, while

One of Asia’s most senior Catholic clerics is meeting officials in Beijing, as a deal between the Vatican and China over the church’s role in the communist state appears to be fraying. Bishop Stephen Chow Sau-yan, the top Catholic cleric in Hong Kong, will be the first senior church official from the Chinese territory to

The election in 2008 of Barack Obama, the first black American president was an occasion of great national excitement. The same can’t be said for the elections of Rishi Sunak, the UK’s first British-Indian prime minister, or Scottish first minister Humza Yousaf, the first Muslim politician to become a national leader in western Europe. In

You might think that bank regulators would be feeling a little jittery these days — in short order, three US lenders and the globally systemic Credit Suisse became victims of a not-so-mini-banking crisis that all too closely resembled the chaotic collapses of 2007-08. Instead, there is a quiet sense of satisfaction. The failures were contained

Last year marked a tipping point for the world’s power sector with rapidly expanding clean energy sources set to leave the use of fossil fuels in decline from as early as this year, according to new research. Ember’s Global Electricity Review 2023 suggests that clean sources of energy, which include hydro, nuclear and bioenergy as

BlackRock’s assets under management increased to $9.1tn in the first quarter but net income fell 19 per cent year on year, as the world’s largest money manager struggled with squeezed margins, subdued markets and lower performance fees. Revenue was down 10 per cent year on year to $4.2bn, with performance fees on its hedge funds and

Boeing said on Thursday that a production issue will affect its ability to deliver a “significant” number of 737 Max jets, potentially exacerbating aircraft shortages for airlines around the world. The aerospace manufacturer said a supplier had used a “non-standard” process when installing two fittings in the fuselage of certain models of the narrow-body jet,

Countries such as France, Germany or Spain with shiny and extensive high-speed rail networks may look with bafflement across the Channel to the agonies in Britain over building anything similar. The originally solid case for the HS2 line, meant to whisk passengers from London to Manchester and Leeds via Birmingham, has become ever more precarious

HSBC has warned that the sale of its French retail bank to Cerberus for a token €1 is now in doubt, after a series of “significant, unexpected interest rate rises” increased the amount of capital the US private equity group will have to inject. Cerberus “has advised us that they consider that they will be

The billionaire Issa brothers and their private equity partners TDR Capital stumped up just £200mn for their 2020 deal to buy Asda, the UK supermarket chain valued at £6.8bn, corporate filings reveal. Mohsin and Zuber Issa and TDR used a complex chain of asset sales and debt deals that left them on the hook for just

Germany is pushing Intel to expand its plans for a landmark €17bn chip plant in exchange for higher subsidies, in what is already set to be the country’s largest foreign direct investment since the second world war. The US semiconductor group is due to receive €6.8bn in subsidies from Berlin to build its mega fab,