Good morning. It was another horrible day for stocks yesterday. Revisiting the reasons for this would be redundant after we combed through the charred remains of the bull market last week. Suffice it to say that a big oil sell-off, and falling two-year yields, suggest that fear of slowing growth — as opposed to fear

The US Supreme Court may be preparing to overturn the landmark ruling that has guaranteed the right to an abortion across the country for nearly 50 years, but some states already live in a post-Roe vs Wade reality. A draft ruling leaked last week indicated the court was set to repeal. Its official opinion is

The start-up behind Bored Ape Yacht Club, the non-fungible token collection of digital art snapped up for millions of dollars by celebrities and crypto-enthusiasts, has an ambitious new idea from which it has already made a fortune. Miami-based Yuga Labs is creating a so-called metaverse — an expansive virtual playground where 3D avatars can mingle.

Contrary to Anne-Marie Slaughter’s advice (Opinion, May 6) that we should slow down the admittance of Finland and Sweden into Nato, the opposite is actually warranted — to speed up the process, not out of fear of a Russian invasion, but of a sudden Russian push for political if not physical domination. Now, in fact,

As Europe’s biggest energy companies reported record profits for the first three months of the year, each singled out different parts of their business for praise. But there was one constant: trading. BP’s highest quarterly earnings since 2008 were driven by “exceptional oil and gas trading”. TotalEnergies noted the “outperformance” of its oil trading activities

By Ana Kinsella I was lucky enough to spend several summers in my twenties working in Stockholm. The Swedish capital at that time of year is lovely: bright and sunny; long days, short nights. The city streets tend to be quiet and peaceful. Many offices close in mid-July, allowing employees to take off for summer

Gay dating app Grindr plans to go public through a merger with a special purpose acquisition company, in a deal that it said would give the business an implied valuation of $2.1bn. The app will receive $384mn in proceeds as part of the transaction announced Monday with Tiga Acquisition Corp, a Spac set up by

A sharp increase in interest rates to tame fresh inflation shocks would pose a risk to the American economy, the Federal Reserve said on Monday as it reported a “higher than normal” chance that trading conditions in US financial markets will suddenly deteriorate. “Further adverse surprises in inflation and interest rates, particularly if accompanied by

Brussels has shelved its plans to ban the EU shipping industry from carrying Russian crude after failing to secure agreement from key partners to mirror the sanction. However, the European Commission still aims to ban European companies from insuring tankers carrying Russia oil as a way of constraining Moscow’s ability to make crude shipments. The

Twitter is one of the few biggish tech stocks not to puke this year, thanks to Elon Musk’s $54.20-a-share bid for the company. Nathan Anderson is wagering this won’t last. The founder of short seller Hindenburg Research thinks Musk can clearly do a deal at that price, but questions why he should, given the newsflow

Emmanuel Macron has urged the creation of a broad “community” of European democracies to include non-EU members amid calls to reform the way the continent is governed following the Russian invasion of Ukraine. In a speech to the European Parliament on Monday, Macron also joined a push for the rewriting of EU treaties to speed

Hello readers, I hope your weekend was as lovely as it was in Essex, and that you’re awaiting yet more bank holiday fun. In this week’s issue, Joshua Oliver talks crypto from the even sunnier Bahamas, Tim Bradshaw chats about sports trading cards with Reddit co-founder Alexis Ohanian and I interview Ashutosh Bhatt, chief executive

Germany’s economy faces losing around 12 per cent of its annual output — some €429bn — if Russian natural gas supplies stopped abruptly, according to a new study by an adviser to the government. The study by Tom Krebs, an economics professor at the University of Mannheim who advises the finance ministry in Berlin on

The first week of summer sunshine is a tough time to get Britain focused on next winter’s energy crisis. But ScottishPower’s chief executive Keith Anderson is right to be shouting about it. His concern is that the government is taking a “wait and see” attitude to what is obviously a looming emergency. Warmer temperatures now

The UK government’s controversial plans to shake up the way asylum seekers are treated and deport some refugees to Rwanda are running up against a barrage of legal challenges. The Public and Commercial Services Union, which represents civil servants, has joined forces with advocacy groups Detention Action and Care4Calais, to demand greater clarity from the

The writer is president of Yardeni Research In my opinion, investors have turned too pessimistic about the outlook for the US economy and stock market. I don’t recall so much stock market bearishness in a very long time. I think it’s mostly because the “Fed put” is kaput. The US Federal Reserve has long been

The day the M-19 guerrillas descended on the University of South Colombia felt like a carnival. Students ran from classrooms to greet the khaki-clad visitors and teachers lined the corridors in the steamy tropical heat cheering them on.  The mood darkened when the army arrived later. Troops were hunting “subversives” who had shown the audacity

Shares of China’s second-biggest automaker BYD have fallen after authorities launched an investigation into claims one of the company’s factories was responsible for harmful pollutants that were causing respiratory problems in children near the plant. Investors had poured into BYD, backed by Warren Buffett’s Berkshire Hathaway, after blockbuster first-quarter results. But following the announcement of

Hello. Here’s the document we’ve been waiting for, the draft proposal to create flexibility in World Trade Organization rules to allow countries to waive patents on Covid-19 vaccines. It’s less than 900 words*, about the length of a Trade Secrets newsletter, quite concise for such a politically fraught subject. It was mooted more than 18

The world’s oldest grandmaster, Yuri Averbakh, passed away aged 100 on May 7. The venerable Russian had been a world title candidate, an aide to champions, and chief arbiter at top matches, as well as a renowned author of multiple books on endgames and chess history. As a child, Averbakh watched Emanuel Lasker; on his