ft_home
europe's biggest investment banks lagged behind wall street rivals in the first quarter, missing out on commodities trading gains during a period of volatile oil prices. the gap was stark — triple the gains for us traders compared to their european counterparts. the quarter saw significant oil price swings,
ft_home
the euro needs to become a serious reserve currency, and europe has to actually act on it. the single currency has been around for over two decades but still plays a minor role in global central bank reserves compared to the dollar. the argument is that europe's own
ft_home
iran's conflict is hitting kenya's flower and tea exports hard. gulf markets — a major buyer of kenyan roses — have cratered, and air freight costs have spiked, making it much more expensive to ship fresh-cut stems. tea exports are also getting squeezed by higher shipping costs and
ft_home
libya's crude output hit its highest level since 2013, riding a price surge from the iran conflict. the country is pumping more barrels as global demand scrambles to replace lost supply from the gulf. the bonanza comes as libya's own political instability has kept production volatile
ft_home
tech stocks are pushing major indices higher even as war creates supply-side shocks. the s&p 500 and nasdaq have both hit fresh records this week, led by a handful of mega-cap names. the disconnect is stark — oil and commodity prices are up on supply fears, but investors are
ft_home
china is starting to talk about food self-sufficiency with the same urgency it applies to chips and ai. if it pursues agricultural decoupling with the same intensity as its industrial policy, the global agricultural economy will be upended. the country is the world's top importer of soybeans, corn,
ft_home
donald trump is pulling 5,000 us troops out of germany — a direct retaliation against chancellor friedrich merz, who had publicly criticized the us-israeli military campaign in iran. the withdrawal cuts the american presence in germany by roughly a third. merz had been vocal in his opposition to the us-led
ft_home
the us warned european allies that some arms shipments will be delayed because american stockpiles are being drained by operations against iran. the deferred deliveries could include weapons used in ukraine's defence against russia. the pentagon has not specified which systems are affected or how long the delays
ft_home
trump's iran policy is hitting americans at the pump harder than anyone else in the g7. petrol and diesel prices are rising faster in the us than in the uk, canada, and other major economies. the sharpest fuel shock among the group is now playing out in american
ft_home
spirit airlines is preparing to shut down after bailout talks with the trump administration stalled. donald trump said the us is still "looking" at a rescue for the bankrupt budget carrier, but would only proceed "if it's a good deal." the airline filed for
ft_home
ares management pulled in nearly $20bn from investors, with real estate and infrastructure commitments making up for softness in its core private credit business. the firm has been one of the biggest beneficiaries of the shift away from traditional bank lending, but the latest haul shows it's leaning
ft_home
trump said he'll raise tariffs on eu vehicles to 25% — a jump from the current 2.5% rate on passenger cars. he said the levies will be imposed "next week" unless automakers shift production to american plants. the threat targets cars and trucks exported to the