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Prospective investors in Arm’s initial public offering have raised concerns over the UK chip designer’s exposure to China, after the company warned of “significant risks” in the country. Managers at four separate funds considering an investment in Arm told the Financial Times that the prospectus for the planned listing on Nasdaq in September confirmed some

Goldman Sachs is exploring a sale of the investment advisory business it acquired four years ago, marking a further retreat from efforts to be a major bank to mass-market customers. The Wall Street firm said on Monday it was “currently evaluating alternatives” for its personal financial management business, which encompasses Goldman’s registered investment adviser operations

China is expected to make the biggest cuts this year to two of its core lending rates, as pressure mounts on policymakers and banks to reverse a trend of slowing momentum and revive flagging demand in the world’s second-biggest economy. The People’s Bank of China is set to announce reductions to both one-year and five-year

The leaders of Japan and South Korea on Friday put decades of frequently acrimonious relations behind them, signing on to a trilateral pact with the US that will deepen military and intelligence co-operation between the three allies. The agreement, formally reached at President Joe Biden’s retreat at Camp David outside Washington, sets up annual summits

China’s securities regulator has announced a package of market-friendly reforms to try to boost investment and trading after months of underwhelming economic growth that has hit stocks and bonds. The measures, which the China Securities Regulatory Commission said were designed to “boost capital market investor confidence”, indicate Beijing’s concern over the country’s economic and financial

Foreign investors have dumped Chinese stocks and bonds after losing confidence in Beijing’s promises of more help to shore up the country’s wobbling economy. Financial Times calculations based on data from Hong Kong’s Stock Connect trading scheme show that investors have almost completely reversed Rmb54bn ($7.4bn) in net purchases of Chinese equities that followed a

Lower gas and electricity prices drove a sharp drop in UK inflation to 6.8 per cent in July from 7.9 per cent the previous month, the lowest rate of price increases since February last year.  The figure met economists’ expectations and will come as a modest relief after wage data on Tuesday was surprisingly strong, highlighting the work

UK wages grew much more than expected in the three months to June, according to official figures that are likely to reinforce policymakers’ concerns over the pressures fuelling inflation.  In April to June, annual growth in regular pay, which excludes bonuses, was 7.8 per cent, the highest regular annual growth rate since comparable records began

Lithium-ion batteries have already changed the world, putting smartphones, laptops and wireless headphones in the hands of billions of people. Now they are triggering another revolution. The technology of choice both in electric cars and the nascent electricity storage industry, the cells will be a vital pillar in the global transition to a carbon-free economy.

Finland is unconcerned by Russia’s threat to bolster troop numbers along the border, the Nordic country’s foreign minister has said, adding that Moscow had left the frontier almost undefended following its full-scale invasion of Ukraine. Elina Valtonen told the Financial Times that the pledge made by Russian defence minister Sergei Shoigu to increase soldiers was

Inflated shipping costs are enabling Russian companies to earn far more from crude oil sales to India than previously recognised, according to a Financial Times analysis which suggests that the charges may have raised more than $1bn in a single quarter. Russia has, until recently, appeared to comply on this route with western measures designed

The rouble has fallen to a 16-month low against the dollar as a surge in Russian military spending and a collapse in export revenues add pressure to a currency suffering under western sanctions and an escalation of capital outflows.  Russia’s currency has lost about 25 per cent of its value this year and traded below

Saudi Arabia is pushing the UK, Japan and Italy to allow it to become a full partner in the landmark next-generation fighter jet project that the three countries signed in December. The request, confirmed by five senior officials in London, Tokyo and Rome, has already created strains within the tri-national alliance. While the UK and

US inflation in July is expected to have risen at roughly the same pace as in June, suggesting that price pressures in the world’s biggest economy are continuing to ease and strengthening the case for the Federal Reserve to hold interest rates steady at its next meeting in September.  The consumer price index (CPI) is

European natural gas prices surged almost 40 per cent on Wednesday as the potential for disrupted global liquefied natural gas supply from Australia spooked traders betting on further declines. Prices on the Title Transfer Facility (TTF), the European benchmark, rose to more than €43 per megawatt hour, up from almost €30 on Tuesday, reaching its

Google and Universal Music are in talks to license artists’ melodies and voices for songs generated by artificial intelligence as the music business tries to monetise one of its biggest threats. The discussions, confirmed by four people familiar with the matter, aim to strike a partnership for an industry that is grappling with the implications

A UK bank serving 14,000 charities has announced £15mn in fresh debt funding from its owner after reporting steep paper losses on the value of its bond holdings. CAF Bank said on Monday it had struck a deal with the Charities Aid Foundation, the UK’s largest charity by income, to cover the shortfall that the

US government scientists have achieved net energy gain in a fusion reaction for the second time, a result that is set to fuel optimism that progress is being made towards the dream of limitless, zero-carbon power. Physicists have since the 1950s sought to harness the fusion reaction that powers the sun, but until December no

Berkshire Hathaway’s cash and investments in short-term Treasuries surged to $147bn at the end of the second quarter, underscoring Warren Buffett’s faith in the backbone of global financial markets despite the rocky political climate in Washington. The sprawling conglomerate — which owns the BNSF railroad and Geico insurer — increased the holdings by nearly $17bn

The US and China are opening new lines of communication to tackle contentious issues, in one of the first signs of progress towards stabilising relations since secretary of state Antony Blinken visited Beijing in June. According to three people familiar with the situation, Washington and Beijing will create two working groups to focus on Asia-Pacific