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Russia dropped charges against participants in the Wagner paramilitary force’s armed insurrection and said the group had agreed to hand over its weaponry. The announcements on Tuesday came in the wake of the deal between the Kremlin and Wagner founder Yevgeny Prigozhin and appeared to mark progress towards resolving the stand-off. The FSB, Russia’s main

Even as the Bank of England hunkered down for a protracted period of high rates, it was always vanishingly unlikely that the government would step in to help homeowners facing a steep jump in mortgage payments as low-priced, fixed-rate periods end. Rightly so. The impact of rising interest rates on the economy has already been

Russian warlord Yevgeny Prigozhin claimed his forces were “blockading” Rostov and marching on Moscow on Saturday morning, as armed, masked men with tanks and armoured vehicles surrounded government buildings in the southern Russian city. In what would mark the first coup attempt in Russia for three decades, Prigozhin appeared to have taken over a military

I double-check the name the notorious “finmeme-lord” known as Litquidity has reserved our table under. “I’m here for Hank Paulson,” I tell the maître d’ at Le Bernardin. He doesn’t bat an eye. I wonder if Paulson, the former US Treasury secretary responsible for bank bailouts after the 2008 financial crisis, dines at the three-Michelin-star

The Church of England is selling its investments in Shell, BP, Exxon and Total and seven other big oil and gas companies, after concluding none were aligned with efforts to halt global warming. The decision follows a vote by the General Synod, the church’s parliament, in 2018 to sell out of fossil fuel companies that

UK inflation remained stuck at 8.7 per cent in May, higher than expectations of a drop to 8.4 per cent, marking the fourth month in a row that price rises have exceeded forecasts. With the cost of a broad range of goods and services rising sharply, the figures will reinforce expectations of multiple interest rate

6/19/2023, 9:53:28 PM What to watch in Asia today FT reporters China: The People’s Bank of China is scheduled to publish its latest policy rates. Analysts polled by Reuters expect lending benchmarks to be cut for the first time in 10 months amid a slowing post-Covid recovery. Last week the central bank unexpectedly cut a

Asking prices for UK homes flatlined in the past month as a “disorderly” mortgage market and rising borrowing costs dented confidence in the property sales.  New sellers listed their homes for £372,812 on average in the four weeks to June 10, £82 less than in the previous month, representing a marginal fallback after five months

Paradigm shifts happen slowly, and then all at once. This was the case during the last economic shift, in the Reagan-Thatcher era. Ronald Reagan wasn’t elected US president until 1980, but many of the speeches he gave during his 1976 Republican primary run set the stage for a new post-Keynesian era. In this, he argued,

Donald Trump indicted; Boris Johnson practically fleeing parliament; Silvio Berlusconi gone from the Italian stage he had dominated for decades. Pundits might be forgiven for declaring the death of populism alongside that of Berlusconi. Liberals are likely to feel confirmed in their view that populism always ends not only in policy failure — since populists

Gilt yields surged to the highest since 2008, surpassing the level reached during the turmoil following Liz Truss’s mini Budget, after strong UK wage growth data on Tuesday. Wage growth accelerated in the three months to April against a backdrop of rising employment, raising the likelihood of further interest rate rises. Two-year gilt yields rose

Rishi Sunak has finally approved Boris Johnson’s resignation honours list, which includes appointments for Tory MPs and a senior official who worked in Downing Street during the partygate scandal. The former prime minister nominated several senior Conservative MPs who are his allies. Jacob Rees-Mogg, Conor Burns, and Simon Clarke were knighted, while Priti Patel and

Donald Trump said on Thursday evening that he had been indicted on federal charges in connection with classified documents found at his Mar-a-Lago residence in Florida, the latest legal woe to hit the former US president as he mounts another White House run. “The corrupt Biden Administration has informed my attorneys that I have been

The rapid advance of technology that gathers and applies information directly from the human brain carries a serious risk of bias and discrimination at work and threatens privacy, the UK data regulator has warned. In a report published on Thursday, the Information Commissioner’s Office called for new regulations over neurotechnology applications in non-medical fields, such

UK hopes of securing a quick deal to deepen digital trade ties with the US have run into the diplomatic sands amid growing resistance to such pacts in Washington, technology industry insiders have warned. The sector’s frustrations emerged as Prime Minister Rishi Sunak landed in Washington for a meeting with President Joe Biden at which

The Kakhovka dam spanning the Dnipro river in southern Ukraine was blown up on Tuesday, flooding swaths of territory ahead of an expected Ukrainian counteroffensive and threatening crucial water supplies to a nuclear plant. Russia and Ukraine blamed each other for the attack, which Kyiv warned would have “catastrophic consequences” and affect dozens of settlements,

Labour is set to receive a £5mn financial boost from the former boss of a car glass repair company to help it fight the next election, in an indication that the UK’s main opposition party is proving successful at wooing new donors. Gary Lubner, who made hundreds of millions of pounds running the company behind

China has warned western militaries to stay out of waters and airspace near its borders if they want to avoid dangerous run-ins with the People’s Liberation Army, putting on display the growing risks of unintended conflict as geopolitical competition grows. The blunt message from General Li Shangfu, China’s new defence minister, followed a near collision

CIA director Bill Burns travelled to China last month, a clandestine visit by one of President Joe Biden’s most trusted officials that signals how concerned the White House had become about deteriorating relations between Beijing and Washington. Five people familiar with the situation said Burns, a former top diplomat who is frequently entrusted with delicate

A bill to raise the debt ceiling cleared a significant hurdle on Wednesday afternoon, after Democratic lawmakers supported Republican Speaker of the House Kevin McCarthy and allowed the bipartisan deal to advance to a full vote. In order to see off a rebellion from members from his own party, McCarthy was forced to rely on