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Federal Reserve officials discussed the need to keep interest rates at levels that restrict the US economy “for some time” in a bid to contain the highest inflation in roughly 40 years, according to an account of their most recent meeting. Minutes from the meeting, at which the US central bank raised its benchmark policy

The global energy crisis deepened on Tuesday as a further surge in natural gas prices in Europe and the US threatened to push some of the world’s largest economies into recession. Gas markets in Europe jumped by as much as 10 per cent to as high as €251 a megawatt hour, equivalent in energy terms

A new lender has been granted a licence by UK financial regulators to offer mortgages with fixed rates of up to 50 years in a move aimed at helping borrowers manage soaring inflation. Perenna, a UK-based specialist lender, is initially planning to provide home loans that lock in rates for 30 years, before rolling out

Autcraft, a Minecraft server for autistic children, was about to celebrate its ninth anniversary when the troll attacked. They sent explicit photos and abusive messages to the autistic children on Autcraft’s social network, wreaking so much havoc that founder Stuart Duncan was forced to shut down the site. Nearly a decade of community history was

One thing to start: Last week the Scoreboard team participated in a virtual event to discuss how long the boom in sports investing will last. Subscribers can watch a replay here exclusively here. Is women’s football the next big investment opportunity? That’s been on my mind ever since England’s Lionesses scored eight times against Norway,

Italy was plunged into political turmoil on Thursday when prime minister Mario Draghi offered to resign after a split in his national unity government. The former European Central Bank president said conditions were no longer in place for him to carry on after the populist Five Star Movement refused to support his government in a

Two former health secretaries, Sajid Javid and Jeremy Hunt, on Sunday announced bids to stand as Conservative party leader with pledges to slash taxes in an effort to win support from MPs. A total of nine candidates have now announced they will stand to replace Boris Johnson as UK prime minister, with more expected to

One of the leading contenders to succeed Boris Johnson as prime minister has said he will not stand in the forthcoming leadership contest, as other Conservative MPs prepare to launch their campaigns. Defence secretary Ben Wallace was the favourite among the Tory grassroots, with a net approval rating of +86 among party members according to

Rishi Sunak, who quit as Boris Johnson’s chancellor this week, launched his bid to lead the Conservative party on Friday with a pledge that he will avoid “comforting fairy tales”. His video to launch his campaign appeared a coded attack on what many MPs have seen as the prime minister’s Panglossian approach to policy. “Someone

Boris Johnson has announced his “painful” resignation but defied pressure to step down immediately as prime minister, insisting he would remain in office until a new Conservative party leader is chosen. In an address in front of No 10 Downing Street, after days of turmoil and mass resignations from his government, he accused his party

Sajid Javid launched a devastating critique of Boris Johnson in the House of Commons as he told MPs why he quit as health secretary, warning that “the problem starts at the top” with the prime minister. Javid triggered an avalanche of ministerial resignations when he stepped down on Tuesday evening, including chancellor Rishi Sunak —

Norway’s Equinor is temporarily shutting down three oil and gasfields after workers went on strike, intensifying regional supply troubles and pushing European gas prices to a four-month high. The strikes that began on Monday evening will affect 89,000 barrels of oil equivalent a day of production at fields on Norway’s continental shelf. The trade union

In the opening shots of The Flight Attendant’s second season, we see protagonist Cassie Bowden (Kaley Cuoco) jogging along a boardwalk and saying hi to a chihuahua in a buggy, before introducing herself at an Alcoholics Anonymous meeting. It looks like a new, sober start for her. As one of the wildest and booziest characters in

Russia’s invasion of Ukraine has sent jitters through bond markets in the Baltics and Finland, and deterred international investment in the region, as fund managers seek to avoid geopolitical risks. Debt investors are shying away from Finland, Lithuania, Latvia and Estonia, and showing a preference for other markets further from the Russian border, said André

Behind the counter of F.lli Gondola, a coffee bar and pastry shop in Frattamaggiore, owner Salvatore Gondola keeps a picture of Italian footballer Lorenzo Insigne. Insigne, who grew up in this small town to the north of Naples, and his fellow Azzurri players won the nation’s hearts when they clinched the European football championship against

This article is part of a guide to London from FT Globetrotter Skyline Afternoon Tea at Ting in the Shangri-La, The Shard Level 35, Shangri-La The Shard, 31 St Thomas Street, London SE1 9QU There’s nothing more reviving for a Londoner than doing something incredibly touristy that makes you look at the city afresh. That,

A single portfolio manager at Capital Group drove an €8bn sell-off of European bank stocks this year, after the war in Ukraine and the threat of a global recession caused the investment giant to sour on the sector. Capital, one of the world’s biggest fund managers with $2.7tn of assets, until recently had been one

For the private equity groups that now control so much of the US economy, America’s top antitrust enforcer has a clear message: expect more scrutiny. Over the past decade or so, the likes of Blackstone, KKR and Apollo have expanded into even bigger corporate and industrial juggernauts, owning companies seemingly across every sector of the

Sam Jones observes an Austrian political class riven by corruption (Outlook, May 19), while to David Kaufman (Letters, May 19) Vienna is the epitome of civilisation because the rich use public transport. Can both pictures be true? Of course! As in Die Fledermaus, when double-dealing, cynicism and deception are revealed, everyone pretends to be in

While venture capital funds are leaving it to Elon Musk to figure out what to do with Twitter, presumably to gain a return on their investment, they apparently don’t have any suggestions as to what he might do. Here is one from the days when Eric Schmidt was chief executive of Novell, then dominant in