Fear may be the source of the gold rally

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. Happy “liberation day”. Liberation from what, you ask? We don’t know, but we look forward to finding out … Read more

A biotech M&A revival is in the pipeline

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Drug developers have been hit by a succession of maladies. Higher interest rates have cut the value of their future breakthroughs. Sector M&A has swooned. Most recently, uncertainty over the health politics of US President … Read more

Fiscal tweaks won’t solve Britain’s growth problem

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. In last Wednesday’s Spring Statement, Rachel Reeves, chancellor of the exchequer, did exactly what was expected of her. Confronted, as predicted, with worse forecasts from the Office for Budget Responsibility than those of last October, … Read more