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Economics at ft.com

Today News

07

Climate change is pushing up food prices — and worrying central banks

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Shifting weather patterns are reducing crop yields and squeezing supplies, creating what could become a permanent source of inflation

Blackstone snaps up ‘circular’ private equity credit risk

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The US buyout group has become one of the biggest buyers of a fast-growing type of risk transfer product

02

Biden under new pressure to quit race as Democratic disquiet spreads

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Lawmaker from party calls on US president to drop out as poll shows voters prefer different candidate

Tuesday, Jul 2

23

Wealthy sell UK assets amid fears Labour would raise capital gains tax

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Some clients are offloading investments fearing a tax hit from a Starmer government, wealth managers say

22

Trump’s ‘hush money’ sentencing pushed back to September

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Former president has sought to set aside guilty verdict after Supreme Court’s ruling on presidential immunity

21

Powell says US needs to cut deficit ‘sooner rather than later’

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Fed chief warns against running at high levels while output in world’s largest economy is strong

18

Tesla deliveries fall 5% but slightly exceed market expectations

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Elon Musk’s EV company beats Wall Street estimates with its second quarter performance amid intense competition

15

Water companies face legal challenges after landmark UK pollution ruling

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Supreme Court decision comes as anger mounts over groups discharging sewage into rivers and coastal waters

14

Revolut chair welcomes London listing overhaul as fintech reports record profits

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UK-based company helped by higher interest rates as it expands customer base

12

Eurozone inflation slows to 2.5%

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Lower rises in energy and fresh food costs are offset by persistently high services prices

Biden campaign raises $264mn in second quarter

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President’s re-election effort has best fundraising month yet in June but trails Trump’s May haul

07

Global investment banks cut jobs in China retreat

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Wall Street and European groups scaled back in 2023 in ‘challenging’ environment

China ETF assets register ‘explosive’ growth

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Booming sector has enjoyed annual growth rate of 40% since 2018 as actively managed funds have slumped

Spirit’s Belfast unit in limbo after Boeing announces $4.7bn deal

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Politicians and union leaders warn against dismantling the aircraft supplier in Northern Ireland as Airbus considers options

Supreme Court gives Trump’s White House bid another shot of momentum

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The threat that trials would disrupt former president’s re-election campaign has all but vanished

Reform UK bailed out by cross-party group run by Richard Tice in 2020

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Pressure group raised funds for ‘Brexit celebration event’, then funnelled cash to the Brexit party

02

UK shop prices fall in June as cost of living crisis eases

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British Retail Consortium says next prime minister will benefit from supermarkets’ effort to keep costs down

Monday, Jul 1

22

‘Immune, immune, immune’: Five key points from Trump’s Supreme Court case

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Conservative majority breaks legal ground and reshapes prosecutions against former president while liberals lament

19

US Supreme Court says Trump immune for ‘official acts’ as president

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Panel finds unofficial actions are not protected in decision likely to delay federal trial beyond November election

Trump confidant Bannon surrenders to federal prison

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Former White House aide to serve four months after conviction on contempt of Congress charges

18

EU jobs deal unlikely to help UK professionals, warns report

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Rival European qualifications mean lawyers and bankers still face barriers to moving

15

Bundesbank chief calls for German tax cuts to boost investment

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Joachim Nagel says EU’s biggest economy must address ‘major challenges’ to fuel growth

Air France-KLM flags financial hit from tourists avoiding Paris Olympics

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Airline says traffic to and from French capital is behind other European cities in run-up to games

14

Norway blocks sale of last private property on Arctic archipelago

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Oslo cites national security concerns amid increased Russian and Chinese interest in Svalbard and ‘high north’

13

Could Democrats replace Biden at an ‘open convention’?

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Calls for president to pull out of US election race shine light on event that could be display of unity or open warfare

12

UK house prices unexpectedly rise in June

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Property market shows signs of stabilising ahead of anticipated interest rate cuts from Bank of England

07

Morgan Stanley to join Goldman and JPMorgan in scrapping UK bonus cap

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Group is latest Wall Street lender to change pay policy after curbs dropped in post-Brexit push to boost City of London

01

Boeing agrees to buy Spirit AeroSystems in $4.7bn deal

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US aircraft manufacturer will bring parts supplier back under its wing after two decades apart

Sunday, Jun 30

23

BlackRock to acquire UK data group Preqin for £2.55bn

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Pursuit of data providers has grown alongside demand for ever more granular financial information