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Qatar has launched a review of its investments in London after the city’s transport authority this week banned the Gulf state’s advertisements on the UK capital’s buses, taxis and underground train system. The move by Transport for London was prompted by concerns about Qatar’s stance on LGBT+ rights and its treatment of migrant workers. It

Volodymyr Zelenskyy said Russia’s new strategy to destroy Ukraine’s infrastructure and plunge it into darkness would not weaken the country’s resolve to liberate all occupied land, describing the conflict as a “war of strength and resilience”. Pushing back against western fears of escalation, Ukraine’s president insisted there would be no lasting resolution to the war

Rishi Sunak is under pressure from a broad alliance of British business, legal, worker and environmental groups to drop controversial plans to automatically strip swaths of EU-derived law from the British statute book by the end of next year. More than a dozen organisations including the Institute of Directors, Trades Union Congress and Chartered Institute

FTX founder Sam Bankman-Fried ran the cryptocurrency exchange as his “personal fiefdom” before its implosion, according to a lawyer working on the bankruptcy, with “substantial amounts of money” spent on items unrelated to the business such as vacation homes in the Bahamas. “We have witnessed one of the most abrupt and difficult collapses in the

Senior Walt Disney executives led a rebellion against chief executive Bob Chapek in recent weeks, which resulted in his ousting and replacement with predecessor Bob Iger, according to people familiar with the matter. The covert campaign to overthrow Chapek, which began in the summer, came after the outgoing chief executive lost the confidence of some

Bob Iger, who served as Disney chief executive for 15 years, has replaced successor Bob Chapek after a rocky tenure that lasted just 33 months Iger, who has sometimes been critical of Chapek’s performance, will serve for two years in the job that made him one of the world’s most celebrated business leaders. Iger has

The outcome of key UN climate talks hung on crunch negotiations over global warming targets on Saturday, after the EU made a dramatic threat to walk away from the fraught COP27 summit. Negotiators said that progress was made in getting an agreement over the previously deadlocked issue of “loss and damage” funding by rich countries

UK chancellor Jeremy Hunt confronted a backlash from Tory MPs angry at a new era of high taxation even as the IMF hailed his efforts to restore the country’s fiscal credibility. On a day that two leading think-tanks said that high taxes had arrived for good and that wages were set for their most prolonged

British households are set for the steepest fall in living standards on record and the highest tax burden since the second world war after Jeremy Hunt laid out plans to cut public spending and raise revenue to fill a £55bn fiscal hole. The chancellor told a sombre House of Commons that a massive fiscal consolidation,

Jeremy Hunt, chancellor, will on Thursday seek to restore Britain’s tarnished economic reputation with a massive package of tax rises and spending cuts intended to repair the public finances and tame inflation. “We will face into the storm,” he will say. Hunt’s Autumn Statement will intensify the financial hardship facing millions of Britons and begin

A missile that killed two people in Poland near the border with Ukraine was “unlikely” to have been fired from Russia, US president Joe Biden said after an emergency meeting with western leaders on the sidelines of the G20 summit in Indonesia. Poland has convened emergency talks with its Nato allies after what Warsaw said

World leaders will state that today’s era “must not be of war” at the G20 summit in Bali, according to a draft communiqué agreed by diplomats that also condemned threats of nuclear weapons use. The draft statement, seen by the Financial Times and confirmed by two delegations, said: “Most members strongly condemned the war in Ukraine

Chancellor Jeremy Hunt is planning a big package of spending cuts and tax increases in Thursday’s Autumn Statement after being warned that UK public borrowing will be about £70bn larger than expected. The Office for Budget Responsibility estimates that a worse economic outlook will raise government borrowing close to £100bn in 2026-27, according to an

Sam Bankman-Fried’s main international FTX exchange held just $900mn in easily sellable assets against $9bn of liabilities the day before it collapsed into bankruptcy, according to investment materials seen by the Financial Times. The largest portion of those liquid assets listed on a FTX international balance sheet dated Thursday was $470mn of Robinhood shares owned

FTX, the once high-flying cryptocurrency group, has filed for bankruptcy protection in the US, marking a stunning collapse of the $32bn empire built by the colourful 30-year-old entrepreneur Sam Bankman-Fried. The filing in Delaware federal court on Friday included the main FTX international exchange, a US crypto marketplace, Bankman-Fried’s proprietary trading group Alameda Research and

US stocks roared ahead on Thursday in their strongest day in more than two and a half years, with investors emboldened by inflation data that showed decelerating increases in consumer prices and set the stage for a slower pace of interest rate rises by the Federal Reserve. Wall Street’s benchmark S&P 500 index gained 5.5

Binance will abandon its deal to rescue Sam Bankman-Fried’s FTX cryptocurrency exchange, citing concerns about its business practices and investigations by US financial regulators. The move comes a day after Binance, one of the world’s largest crypto trading venues, tentatively agreed to buy FTX after it suffered a liquidity crunch. “As a result of corporate

The economy and inflation are among top issues in the midterm elections, and voters are expected to favour Republicans to improve the economy, according to recent polling data. And while those subjects are top of mind for many voters, issues such as abortion rights and threats to democracy are also driving Americans to the polls.

Jeremy Hunt is planning a stealth raid on inheritance tax in the Autumn Statement as part of the chancellor’s attempt to raise about £54bn through tax rises and spending cuts to fill a hole in the UK public finances. Government officials said Hunt was drawing up plans to extend a freeze in the inheritance tax

The US is working on a plan to harness cash from the world’s largest companies to help developing countries cut their use of fossil fuels, an idea it aims to unveil at the UN climate summit this week. US president Joe Biden’s climate envoy John Kerry is trying to marshal support from other governments, companies