What to expect on ‘liberation day’

This article is an on-site version of our Unhedged newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday. Standard subscribers can upgrade to Premium here, or explore all FT newsletters Good morning. Stocks, especially tech stocks, had an ugly morning yesterday but rallied in the afternoon. Biotech stocks, particularly Moderna, … Read more

Globalisation will triumph over Donald Trump

This article is an on-site version of Free Lunch newsletter. Premium subscribers can sign up here to get the newsletter delivered every Thursday and Sunday. Standard subscribers can upgrade to Premium here, or explore all FT newsletters Happy Sunday. April 2 — or “liberation day”, as Donald Trump has dubbed it — is imminent. US … Read more

It’s time for the EU to solve its Orbán problem

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is managing director for Europe at Eurasia Group The EU has a long-standing Viktor Orbán problem. For many years, it has proved to be manageable. Now it is life-threatening.  US President Donald Trump’s … Read more

China’s AI race creates tension at home

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Chinese artificial intelligence models had already been outpacing expectations — but they have now pushed the bar even higher. Two local tech groups have recently dropped significant updates. DeepSeek released a dramatically improved V3 model … Read more

Lessons from a big M&A blow-up

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. When Kroger agreed a $25bn deal to buy rival US grocer Albertsons, it hoped to pull off the largest transaction in US supermarket history. Instead it has become one of the ugliest bust-ups in recent … Read more

Musk’s merger suffers from serious grade inflation

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Elon Musk is, among other things, the king of the related party transaction. Almost a decade ago, Tesla bought SolarCity, a clean energy start-up backed by Musk and his brother. Now, the tech billionaire is … Read more

Wood Group investors need to see real accountability

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. London’s small and mid-cap oil and gas companies serve up plenty of drama. In the past 10 years there have been boardroom clear-outs, misjudged M&A, bribery probes and forecasting errors. But their record does not … Read more