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Accessibility helpSkip to navigationSkip to contentSkip to footer * S&P 500+0.01% * Shanghai+1.14% * FTSE 100+0.50% * Euro/Dollar Minus −0.49% * Brent Crude Oil Minus −1.20% * 10 Year US Gov Minus −2.70% Visit Markets Data COOKIES ON FT SITES We use cookies and other data for a number of reasons, such as keeping FT Sites reliable and secure, personalising content and ads, providing social media features and to analyse how our Sites are used. Accept cookies Manage cookies * Sign In * Subscribe Open side navigation menuOpen search bar Financial Times SubscribeSign InmyFT Search the FT Suggestions include News Securities * See all quotes matching undefined SearchClose search bar * Home * Markets Data * Home * World Sections * World Home * Global Economy * UK * US * China * Africa * Asia Pacific * Emerging Markets * Europe * War in Ukraine * Americas * Middle East & North Africa * Australia & NZ Most Read * The Big Dig: Germany reopens its mines in quest for mineral self-sufficiency * Singapore deepens US defence ties despite Chinese financial inflows * China’s local governments stuck with bill for neighbourhood surveillance * Long-lived rivals: actuaries say Biden and Trump are not too old for office * Inflation’s legacy hits European households even as price growth ebbs * US Sections * US Home * US Economy * US Companies * US Politics & Policy Most Read * Companies Sections * Companies Home * Energy * Financials * Health * Industrials * Media * Professional Services * Retail & Consumer * Tech Sector * Telecoms * Transport Most Read * Charlie Munger: US banks are ‘full of’ bad commercial property loans * JPMorgan to acquire First Republic’s deposits as US regulators step in * Disney uses Ron DeSantis’s own words against him in free speech lawsuit * JPMorgan, Citizens and PNC submit bids for First Republic * Deutsche Bank plans to beef up investment bank advisory team * Tech * Markets Sections * Markets Home * Alphaville * Markets Data * Cryptofinance * Capital Markets * Commodities * Currencies * Equities * Fund Management * Trading * Moral Money * ETF Hub Most Read * Total’s chief tells investors European listing to blame for oil group’s trading discount * Investors bet on shrinking pool of tech stocks as rally narrows * The Big Dig: Germany reopens its mines in quest for mineral self-sufficiency * S&P criticised by pension funds over dual-class shares decision * US approach to financial regulation is set up to fail * Climate * Opinion Sections * Opinion Home * Columnists * The FT View * Lex * Obituaries * Letters Most Read * China, America and why not all growth is equal * China could play a crucial role in ending the war in Ukraine * Labour has leverage to carry out private equity tax reform * The costs of entrenched high inflation cannot be ignored * Top ways to be a super schmoozer * Work & Careers Sections * Work & Careers Home * Business School Rankings * Business Education * Entrepreneurship * Recruitment * Business Books * Business Travel Most Read * How to spot corporate rot * Life & Arts Sections * Life & Arts Home * Arts * Books * Food & Drink * FT Magazine * House & Home * Style * Travel * FT Globetrotter Most Read * Emma Watson’s house of spirits * The 20 best bakeries in the UK * Meet the supercar spotters * Inside the elite British college for the world’s best nannies * Amanda Feilding – the first lady of LSD * HTSI MenuSearch * Home * World * US * Companies * Tech * Markets * Climate * Opinion * Work & Careers * Life & Arts * HTSI Financial Times SubscribeSign In Search the FT Suggestions include News Securities * See all quotes matching undefined SearchClose search bar FINANCIAL TIMES HOME Make sense of it all. Become an FT subscriber. Pay annually and save 20%. Subscribe now First Republic JPMorgan to acquire First Republic’s deposits as US regulators step in Depositors protected but shareholders wiped out in country’s second-largest bank failure 3 hours ago Explainer. The difference between First Republic and other recent bank failures 2 hours ago opinion content. Lex. JPMorgan/First Republic Bank: shareholder losses dwarf saviour’s gains 3 hours ago First Republic How Jamie Dimon swooped on the remains of First Republic Editor's picks opinion content. China could play a crucial role in ending the war in Ukraine Gideon Rachman Disney uses Ron DeSantis’s own words against him in free speech lawsuit TOP STORIES FT live news US says 20,000 Russians killed in Ukraine war in recent months Live markets content. Markets Briefing. US regional bank shares wobble after First Republic failure 3 hours ago US banks US bank agency suggests higher deposit insurance for business accounts FDIC recommends changes to $250,000 coverage cap following bank runs that toppled Silicon Valley Bank and First Republic new 58 minutes ago Jack Ma Alibaba founder Jack Ma takes up teaching post in Tokyo Chinese entrepreneur is re-emerging in public as Beijing’s crackdown on tech eases Italian economy Italy unveils measures to boost flexibility in labour market Social welfare reforms aim ‘to distinguish those who can work from those who cannot’, says PM Giorgia Meloni 3 hours ago SPOTLIGHT Eurozone economy The Big Read. The ECB’s inflation dilemma: can Lagarde silence her critics again? Europe’s self-styled problem solver has won over naysayers for her deft handling of serial crises. But this latest economic fire is proving hard to quash Berkshire Hathaway Inc Interview. Charlie Munger: US banks are ‘full of’ bad commercial property loans Berkshire Hathaway vice-chair foresees pain in FT interview, but says it will not be as severe as 2008 NEWS Noubar Afeyan Moderna co-founder calls on US politicians and judges to stop questioning science Noubar Afeyan says court rulings on abortion pills and access to healthcare undermine efforts to combat diseases GSK struggles to make investors believe its growth story Middle Eastern politics & society Arab world weighs price for Assad’s rehabilitation Diplomats say Syria’s pariah leader will be expected to make concessions to enable his return to Arab League 3 hours ago Deutsche Bank AG Deutsche Bank plans to beef up investment bank advisory team Expansion designed to prepare for dealmaking rebound and reduce reliance on fixed-income sales and trading MOST READ 1. JPMorgan to acquire First Republic’s deposits as US regulators step in 2. Charlie Munger: US banks are ‘full of’ bad commercial property loans 3. Alibaba founder Jack Ma takes up teaching post in Tokyo 4. Deutsche Bank plans to beef up investment bank advisory team 5. opinion content. China, America and why not all growth is equal Chinese politics & policy China’s local governments stuck with bill for neighbourhood surveillance Cash-strapped authorities struggle to reduce headcount and meet Beijing’s demands for greater security ADB calls on countries to fight protectionism as US-China ties sour Iran Iran keeps inflation data under wraps as economic crisis deepens Government accused of concealing evidence that prices are spiralling to record levels S&P Global Inc S&P criticised by pension funds over dual-class shares decision Move to reopen S&P 500 and other indices to companies with multiple share class structures draws backlash US politics & policy opinion content. Why Arsenal’s struggles show you shouldn’t count out Donald Trump Confusing narrative and fundamentals when it comes to football and politics is a big mistake Stephen Bush Ghana Ghana’s government to stop borrowing from central bank ‘Zero financing’ agreement deal with finance ministry helps pave way for $3bn IMF bailout Getir Getir in talks to take over German grocery app rival Flink Discussions come as consolidation accelerates in one of the pandemic’s hottest tech sectors Paraguay Paraguay’s ruling party wins convincing election victory Success for ally of ex-president sanctioned by US means Latin American nation likely to keep close ties with Taiwan OPINION opinion content. China, America and why not all growth is equal The current global trade system is not working but a new narrative is taking shape Rana Foroohar opinion content. The costs of entrenched high inflation cannot be ignored The Bank of England may not be able to fix everything but it must get this under control Martin Wolf opinion content. Inside Business. Labour has leverage to carry out private equity tax reform Jonathan Guthrie opinion content. The sanctions net around Russia is tightening — but there is scope to do more Tom Keatinge opinion content. Battles over the cost of video traffic are creating a rift across the Atlantic Vittorio Colao opinion content. Unhedged. Is the Trump administration to blame for failed banks? Robert Armstrong opinion content. The FT View. Britain’s flawed new voter ID rules The editorial board opinion content. A gruesome episode tells a painful story about corporate Japan Leo Lewis MORE OPINION * The FT View * Lex * Unhedged * Markets Insight * Inside Business EUROPE NEWS Erdoğan says Isis leader killed in operation by Turkish forces US has not confirmed Ankara’s strike on Islamist leader Abu Hussein al-Qurayshi The Big Dig: Germany reopens its mines in quest for mineral self-sufficiency Mercedes-Benz chief says cutting China ties would be ‘unthinkable’ ‘Sport can unite us’: Northern Irish stadium looks to Euro 2028 Auchan’s Russian unit under corruption probe by French prosecutor Erdoğan courts German Turks as he fights to hold on to power Inflation’s legacy hits European households even as price growth ebbs MORE EUROPE NEWS * European economy * European Union * EU foreign policy * European companies * European equities Disrupted TimesSign up for our newsletter PODCASTS FT News Briefing. First Republic in limbo 10 min listen Political Fix. Wooing business: will it work? 25 min listen FT Weekend podcast. Succession's Arian Moayed on how to play a good bad guy 26 min listen Rachman Review. Is Turkey about to see the end of the Erdoğan era? 27 min listen LIFE & ARTS * Arts * Books * Food & Drink * FT Magazine * Style * House & Home * Travel * FT Globetrotter * HTSI Things to do in New York City FT Globetrotter. A horticulturist’s green-fingered guide to New York Fashion opinion content. Ask a Stylist: headbands and how to wear them Review. The best of TV and streaming this week Science fiction books Review. The best new sci-fi: action-packed plots and pure ‘nerdstalgia’ Chess Ding Liren captures world crown after dramatic tie-break VIDEO play video content. Italian politics19 min video content. Italian companies suffer Russia market loss | FT Film play video content. US manufacturing29 min video content. Why 3D printing is vital to success of US manufacturing | FT Film play video content. World36 min video content. North Korea and the triads: gangsters, ghost ships and spies | FT Film play video content. Cryptocurrencies30 min video content. FTX: the legend of Sam Bankman-Fried | FT Film HIGHLIGHTS The Big Read. Horses, art and private jets: the charmed life of Russian warlord’s family Western governments have struggled to impose costs on relatives of the Wagner founder, even though they have been heavily involved in his businesses Druckenmiller takes aim at dollar in sole conviction trade Starmer and Reeves meet private equity bosses as Labour confirms industry tax plan HTSI. Amanda Feilding – the first lady of LSD The Big Read. Will the extraordinary boom in luxury goods ever end? ‘India’s century’: can the most populous nation unlock the potential of its youth? opinion content. Rishi Sunak’s big idea is a nation that is more like him Robert Shrimsley MORE HIGHLIGHTS * Moral Money * Due Diligence * Cryptocurrencies * Special Reports * Climate Capital Moral MoneySign up for our newsletter MARKETS NEWS markets content. Markets Briefing. S&P 500 extends rally after week of strong US tech earnings Investors consider strong inflation figures that strengthen case for rate rise by Federal Reserve Euroclear profit soars as payments from Russian sanctions pile up Russia’s trapped domestic investors push stock market to 12-month high markets content. Markets Briefing. Big Tech gains fuel best day for US stocks since January India’s biggest condom maker lifts dreary IPO market US companies in distress turn to debt exchanges to dodge bankruptcy Coal demand dropped in Europe over winter despite energy crisis MORE MARKETS NEWS * Alphaville * Markets Data * Capital Markets * Commodities * Currencies * Equities * Fund Management * FT Trading Room * Moral Money * ETF Hub TECHNOLOGY opinion content. Lex. Defence spending: global arms race has overlooked Asian sector With defence budgets rising and demand high South Korea has emerged as a surprising supplier of war materiel UK government to water down fraud proposals for tech groups Capita hack prompts watchdog to warn pension funds over data Brazil’s lawmakers to vote on ‘fake news’ bill opposed by tech groups Investors bet on shrinking pool of tech stocks as rally narrows Carmakers raise concerns at Chinese dominance over connectivity patents Elon Musk rolls out paywall for Twitter’s data MORE TECHNOLOGY * Cryptofinance * Semiconductors * Tech Tonic podcast * Trading technology * Tech start-ups * Social Media * Artificial intelligence CryptofinanceSign up for our newsletter BE A PART OF FT COMMUNITY Upcoming events Discover unmissable flagship events and members only communities to expand your thinking and elevate your career. 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