Another day, (maybe more than just) another rout

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. US stocks got taken out to the woodshed yesterday. The S&P 500 fell 2.7 per cent and the … Read more

Berlin’s about-turn can get Europe more bang for the buck

Stay informed with free updates Simply sign up to the German economy myFT Digest — delivered directly to your inbox. The word “bazooka” is an overused metaphor for financial policy decisions. But it is entirely fitting to describe Germany’s Damascene conversion to deficit spending — a political agreement to ditch deficit limits altogether for defence … Read more

How to cut Britain’s rising welfare bill

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Britain’s spending on welfare is growing inexorably. The Office for Budget Responsibility has estimated that the country’s total expenditure on benefits will increase by more than 25 per cent to £378bn by 2030. This is … Read more

What is behind the dramatic shift in markets

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is president of Queens’ College, Cambridge, and an adviser to Allianz and Gramercy Financial markets have witnessed a dramatic change that is overturning the consensus trades that dominated until early February of this … Read more

Elon Musk blowback lights a rocket under European space companies

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Blowback against Elon Musk has lit a rocket under Europe’s besieged space sector, as countries rethink their reliance on Starlink, the satellite system of President Donald Trump’s favoured tech billionaire. In Italy, a proposed $1.5bn … Read more

Private equity could lift UK property out of the bargain basement

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Private equity firms are circling the UK’s beleaguered listed real estate trusts. The interest could help breathe life into the sector after years of underperformance. Assura, which specialises in GP surgeries and other healthcare buildings, … Read more