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As an energy crisis engulfs Europe, global oil markets have offered modest relief, with crude prices drifting lower while traders grow anxious about the global economy. But the turn may be shortlived. For now, cheaper oil is being welcomed by global leaders battling decades-high inflation. US president Joe Biden, whose approval ratings shrank as petrol

The three robots due to co-star in Neon Dance’s Prehension Blooms are something of a work in progress. To the untrained eye (mine) they are little more than a daisy chain of plastic sharks’ teeth, a pack of AA batteries and a tangle of wire. All three would fit comfortably inside a large shoe box.

Liz Truss is planning to take emergency action to address the cost of living crisis without an accompanying economic forecast soon after becoming prime minister, according to allies in her team. Even though the Office for Budget Responsibility, the fiscal watchdog, has let it be known it is ready to provide forecasts to inform the

UK university unions on Monday accused bosses of failing to invest in staff as the sector’s pension fund moved into surplus months after steep retirement benefit cuts were imposed on thousands of members. The intervention by the University and College Union comes ahead of a ballot for industrial action next month, which is part of

SoftBank sold a large part of its stake in Alibaba to “instantly show” investors its finances were solid after logging a record quarterly loss of $23bn, the technology conglomerate’s chief financial officer has said. In an interview with the Financial Times, Yoshimitsu Goto acknowledged that after years of playing down the possibility of any sudden,

The EU drugs watchdog has backed the implementation of a new monkeypox vaccine strategy that involves administering smaller doses, a move aimed at stretching limited supplies as cases continue to rise globally. The European Medicines Agency authorised the approach, commonly referred to as fractional dosing, as a temporary measure on Friday. And UK authorities are

The UK financial regulator has warned businesses that offer buy now, pay later products against using misleading advertising, saying they must comply with financial promotion rules. “Unauthorised firms might be committing a criminal offence if they do not have an FCA-authorised firm approve their financial promotions,” the Financial Conduct Authority said on Friday. “Authorised firms

In July, TV Rain, Russia’s only independent news channel, resumed broadcasting from Latvia after a five-month hiatus. But soon afterwards, the reporters realised not everyone in the Baltic state was happy to have them there. Latvia’s security services warned that some of the hundreds of Russian reporters in the country, who fled Russia after it

You may have missed this amid all the talk of heat and drought and the cost of living crisis, but equity markets in Europe and the US have enjoyed a remarkable summer bounce. Having plummeted for much of the first half of the year, Wall Street’s S&P 500 has climbed 12 per cent in a

You suggest that MPs rather than party members should elect a party leader and prime minister (“This is not the way to choose Britain’s next prime minister”, FT View, August 16). A modified selection process could revive the requirement for ministerial by-elections. Winston Churchill lost such a contest in Manchester North West in 1908 when

Quant funds are increasing their bets on US stocks, helping fuel a sharp rally that has added $7tn in value to markets since June even as economic data point to a slowdown in the world’s largest economy. In many cases, the funds — which look for trends in the market and then attempt to ride

This is an audio transcript of the FT News Briefing podcast episode: WeWork 2.0? Marc FilippinoGood morning from the Financial Times. Today is Wednesday, August 17th. And this is your FT News Briefing. [MUSIC PLAYING] Amazon says US regulators are harassing Jeff Bezos and other top executives. SoftBank’s rotten year keeps getting worse, and WeWork’s

Minutes after protesters stormed the stage disputing his narrow victory, Kenya’s president-elect, the self-styled hustler and one-time street chicken seller William Ruto sought to strike a statesmanlike note. The deputy president, previously charged by the International Criminal Court for inciting ethnic violence after the disputed 2007 poll, congratulated his “worthy competitor”, the veteran opposition politician

Oil prices fell on Monday as disappointing data from the US and China complicated the economic outlook, driving a shift away from riskier assets. International oil benchmark Brent crude dropped as low as $92.78 a barrel as gloomy reports from the world’s two leading economies added to worries that a slowdown in global growth will

Search for ‘Instagram’ on the Apple App Store and the first result might not be Instagram’s app. Apple’s growing digital advertising business has turned the App Store into prime real estate for ads. Like Google and Amazon, top search results tend to be paid for. Apple’s advertising ambitions coincide with the company’s simultaneous crackdown on

Fund managers are reducing pay packages and delaying hiring decisions in an attempt to curb costs, as pressure mounts from customer withdrawals and falling global stock markets. With inflation soaring to its highest level in four decades, putting upward momentum on wages, a number of asset managers are clamping down on expenses to protect profit

George Parker (Person in the News, FT Weekend, July 30) describes Liz Truss as “essentially an anti-establishment figure, an outsider”. She certainly presents herself as that, against her rival for the job of new Tory prime minister, Rishi Sunak, whose immigrant origins are overlaid by education at Winchester College and acquired wealth. But self-description as

Few cities around the world are as distinguishable by their building material as Bath. The Georgian city in the south-west of England is full of honey-hued town houses with towering columns and cornicing, all in local Bath stone. Recognisable by its warm colour, Bath stone is a type of limestone formed 150mn years ago, when

Hedge funds sure know a deal when they see one (“Democratic senator defends stance on private equity tax perk”, Report, August 8). By “investing” a mere $500,000 in the re-election campaign of the US senator Kyrsten Sinema, they have collectively avoided $14bn in taxes. The annual rate of return on their “campaign contribution” must rank

The rising cost of debt and the war in Ukraine are threatening to derail the recovery of global property markets, according to high-end real estate agent Savills. The company said on Thursday that residential and commercial property sales were being hit by worsening economic and geopolitical conditions, sending its share price down as much as