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Economics at ft.com

Today News

14

Commodity prices could keep inflation high, warns World Bank

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Sharp falls in commodities are unlikely to continue, says lender, making it harder for central banks to cut interest rates

13

How TikTok’s Chinese owner tightened its grip on the app

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Insiders say ByteDance exerting increasing influence over platform despite US pressure over ownership

09

Trading helps lift Deutsche Bank to highest quarterly profit in 11 years

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First quarter net income increased by 10% from a year earlier to €1.45bn

08

Japan feels inflation heat from Fed’s ‘higher for longer’ shift

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Yen’s 34-year low against dollar complicates task for BoJ governor Kazuo Ueda a month after ending negative rates era

BNP Paribas bets on investment bank for growth despite bond trading blip

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Eurozone’s largest bank forecasts rise in full-year profits and revenues even as interest rates are expected to fall

07

The ambitions of China’s BYD stretch well beyond electric vehicles

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The company’s global plans range from solar modules and electric buses, trucks and trains to complex transport systems. But is it trying to do too much?

Tesla steers back towards cheaper cars

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Elon Musk seeks to appease the market after 40% stock slide

04

Meta proves AI hype has its limits

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Artificial intelligence is a multibillion-dollar project with no clear timeline for revenues

03

BHP proposes £31bn takeover of Anglo American in mining mega-deal

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Combination would bring together two of the industry’s largest companies as copper demand soars

02

Zuckerberg defends Meta’s AI spending spree as shares tumble

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Parent of Facebook and Instagram reports better than expected quarterly revenue but raises capex guidance

UK veterinary deal with EU could boost agrifood exports by 22%, study finds

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Since Brexit, food and drink industry has faced border checks on business with largest trading partner

Wednesday, Apr 24

23

Europeans ‘less hard-working’ than Americans, says Norway oil fund boss

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Tangen finds US investments more attractive due to weaker regulations and more risk-taking

21

Biden campaign will continue to use TikTok despite divest-or-ban law

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US president’s campaign has posted on Chinese-owned video app in attempt to appeal to younger voters

18

Employee non-compete ban challenged in court by US business groups

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Lawsuit from US Chamber of Commerce and other groups argues rule approved by FTC will hurt business and economy

Germany raises forecasts on boost to outlook for industry and consumers

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Expected 0.3% expansion for 2024 comes as energy prices and inflation continue to fall from record highs

15

Russian court orders seizure of $440mn from JPMorgan

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Move follows lawsuit from state-owned bank VTB to ‘recover losses’ from America’s largest lender

13

Trump prepares his final pitch on presidential immunity

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US Supreme Court will hear arguments in case that has huge implications for former president — and the presidency

11

US Senate passes $95bn bill including aid for Ukraine

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China criticises appropriation for more military assistance to Taiwan

EU conducts ‘dawn raid’ on Chinese security equipment supplier

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Separate Brussels probe targets Chinese medical market amid growing trade tensions with Beijing

10

Lloyds profits fall as interest rate benefits wane

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Competition in savings and mortgage markets and rate cut expectations weigh on margins

Shares in Gucci owner Kering sink after profit warning

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French luxury group says its performance ‘worsened considerably’ in first quarter amid Gucci reset

04

US Congress approves bill banning TikTok unless Chinese owner sells platform

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Move could lead to obsolescence of video app used by 170mn Americans

03

Robotaxis are not the solution to Tesla’s problems

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Elon Musk sends confusing message on earnings call

Tesla shares rise on plans to accelerate launch of ‘more affordable’ models

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Elon Musk-led electric vehicle maker’s stock jumps after-hours despite reporting a fall in quarterly revenue

01

Employee non-compete agreements barred by US regulator

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Federal Trade Commission head says move will help raise wages but business lobby vows to sue

Tuesday, Apr 23

00

Ex-tabloid publisher says he sought to shield Trump from infidelity claims

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David Pecker testifies in Manhattan district attorney’s ‘hush money’ case against former US president

21

Dimon cautions over soft landing for ‘unbelievable’ US economy

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JPMorgan chief says he would ‘love to be president, but you’d have to anoint me’

20

Ireland forecasts €8.6bn budget surplus this year

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Government has room to offer generous pre-election budget but warns era of bumper tax receipts may be waning

14

Bank of England policymaker warns against cutting rates too soon

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Pound rises against dollar as chief economist Huw Pill sets a different tone from deputy governor

13

US business group says policy ‘inconsistency’ hurting China investment

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AmCham China highlights concerns about lack of regulatory clarity as Beijing seeks to shore up confidence