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China’s renminbi has followed the Japanese yen’s downward path versus the US dollar. Both countries are sticking with loose monetary policies in sharp contrast to the trajectory of the US. But the similarities end there. Chinese companies have more to gain from a weaker currency. This week marked the renminbi’s biggest slide against the US

French carmaker Renault is exploring a stock market listing of its electric vehicle unit next year, as part of a plan to split the company in two. It announced in February that it intended to create separate units for EVs and combustion engine models in February. As part of its results presentation on Friday, chief

Dozens of cities in China are in full or partial lockdown in response to the spread of Covid-19 cases, meaning that a population roughly the size of the US has been stuck at home for several weeks, often with limited access to food and medical care. Among those cities in lockdown, Shanghai has received the

Peru’s president Pedro Castillo will travel to the Andean city of Cusco on Friday to address the demands of protesters angry about the rising cost of living who have blocked roads and a railway this week, stopping tourists reaching the ruins of Machu Picchu. Thousands of Peruvians joined a two-day strike in the Cusco region

Good morning. One of the many reasons I was so excited to join the Financial Times is its astonishing team of journalists whose work I have pored over and enjoyed since I was an undergraduate. One of those journalists, David Gardner, former international affairs editor, died suddenly this week. His obituary is in the paper

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It never gets old: the lagoon, the water-lapped maze of streets and canals, the salt-worn, crumbling buildings and campi (squares) hidden away like secret pockets. Whether enshrouded in winter fog with impending high waters or under the warm, beating sun, Venice is truly unforgettable. Although I have called Tuscany home for 14 or so years,

“But, you may say, we asked you to speak about women and fiction – what has that got to do with a room of one’s own?” So said Virginia Woolf at Girton College, Cambridge, in 1928, where she was giving a blistering lecture on why a woman couldn’t have written the 1,225-page War and Peace.

Situated in 28,000 acres of Yorkshire Dales national park, beside the trout-filled River Wharfe, are the crumbling ruins of Bolton Priory. Next to it sits The Hall at Bolton Abbey, its extraordinary ancestral house. The estate’s ruins inspired paintings by the Romantics, including Landseer and Turner; in his poem “The White Doe of Rylstone”, Wordsworth

The Financial Conduct Authority has raised concerns over the adequacy of challenger banks’ defences against financial crime, after a “substantial” increase in suspicious activity reports filed last year. The remarks come as the watchdog attempts to toughen its approach against money laundering, which the National Crime Agency estimates costs the UK £100bn annually. “Challenger banks

French prosecutors have issued an international arrest warrant for Carlos Ghosn and four people linked to an Omani auto dealer following an investigation into whether they helped divert funds from carmaker Renault to its former chair and chief executive for personal use. The warrants were issued against Ghosn, who was the architect of Renault’s alliance

This is an audio transcript of the FT News Briefing podcast episode: Introducing: the FT Climate Game Marc FilippinoGood morning from the Financial Times. Today is Friday, April 22nd, and this is your FT News Briefing. [MUSIC PLAYING] Elon Musk really wants to own Twitter, and he’s putting his money where his mouth is. Richard

If Twitter’s board initially thought Elon Musk’s offer to buy the social media company for $43bn was just a stunt, it has now found itself on the defensive on multiple fronts. After the world’s richest man revealed on Thursday how he plans to fund his takeover bid, Twitter’s directors are under pressure to come to

The writer is chief economic strategist at Netwealth The Bank of England reaches the milestone of a quarter-century of independence in early May. After some initial benefits, it is hard to claim that the experience has been an unbridled success. There are strong reasons this milestone should trigger a fundamental rethink of the Bank’s remit

The first French presidential election I ever followed closely took place in 1974, and it was a captivating affair. I remember the television debate between the standard-bearer of the moderate right, Valéry Giscard d’Estaing, and the Socialist party candidate, François Mitterrand; Giscard d’Estaing landed a decisive blow on his adversary when he declared: “Vous n’avez

Russian forces are likely to renew their attacks on Ukraine’s capital city if they succeed in their fresh offensive in the east of the country, the mayor of Kyiv said. Vitali Klitschko said President Vladimir Putin was unlikely to be satisfied with victory in the Donbas region, where Russia has redeployed the bulk of its

When Amazon launched Alexa — its voice-activated virtual assistant — in 2014, it was met with scepticism. Why did an ecommerce company think it could create smart home technology? It didn’t help that the first Amazon Echo device, shaped like a can of Pringle snacks, followed the ill-fated Fire Phone: Amazon’s pitiful attempt at competing

One thing to start: Formula One driver Lewis Hamilton and tennis star Serena Williams are backing the bid for Chelsea Football Club led by City grandee Martin Broughton and private equity billionaires Josh Harris and David Blitzer, according to people with knowledge of the matter. Musk thinks before he tweets When Elon Musk floated a

As the virus spread across the world and authorities started imposing lockdowns, problems became obvious. There was resistance to the closure of religious services, few people were keen to postpone weddings and funerals could not wait. Young singles wanted to party. Many people disliked wearing masks. And parents were tearing their hair out as schools

The UK government will miss its manifesto target of building an additional 300,000 homes a year by the mid 2020s and is imposing unrealistic goals on English cities, business groups and councils have warned. To meet the pledge the 20 largest cities would need to increase their existing home-building targets by 35 per cent. But