Global Economy

Cyprus: a big moment for eurozone

Mon, 25 Mar 2013 04:09:00 GMT

As Cyprus reached an 11th-hour €10bn bailout deal with international lenders, Lex's Stuart Kirk and Vincent Boland discuss how the agreement means senior bondholders are no longer sacrosanct.

Euro: Speaking the unthinkable

Tue, 14 Feb 2012 11:32:00 GMT

In the latest twist to the eurozone sovereign debt saga, Greece's potential new prime minister says he may not honour the country's bailout deal after the spring elections. John Authers, Long View columnist, and Simon Derrick, chief currency strategist at BNY Mellon, discuss whether the euro's apparent strength this year is all that it seems.

My Budget 2013

Tue, 19 Mar 2013 05:25:00 GMT

Three local residents of Thurrock in Essex tell the FT what they would like to ask George Osborne, how the recession has affected them and their hopes for the future.

Wolf v Giles: UK economy

Mon, 18 Mar 2013 03:11:00 GMT

The UK economy is at a standstill and opinions on how to get it going are divided. Should we rely on an aggressive monetary policy or is it time to borrow more and invest? Martin Wolf, chief economics commentator, and Chris Giles, economics editor, put forward their opposing views on what George Osborne's Budget needs to deliver.

The central bank revolution

Thu, 31 Jan 2013 14:37:53 GMT

The world of central banking is changing as unprecedented economic forces push monetary authorities to extremes. Frederick Studemann, comment and analysis editor, talks to FT columnist John Plender and economics editor Chris Giles about what it could mean for these institutions and their economies as they roll out untested policies and fight for independence.

India needs more than rate cut

Tue, 29 Jan 2013 03:40:00 GMT

The Reserve Bank of India has cut rates by 25 basis points to encourage growth. Lex's Stuart Kirk and Julia Grindell discuss whether this is enough and the impact on equities.

Martin Wolf on a post-crisis Davos

Fri, 25 Jan 2013 03:17:00 GMT

After years of focus on the global financial crisis this year's World Economic Forum in Davos has been of 'low intensity', says Martin Wolf, chief economics commentator. He gives analysis of the key speakers and an insight into what delegates have been saying.

China blowing Treasuries bubble?

Tue, 17 Apr 2012 05:32:00 GMT

Treasuries now offer just return-free risk, according to author Jim Grant, with yields driven down by the US Federal Reserve and Chinese buying. James Mackintosh, investment editor, examines whether China actually has the influence everyone believes.

China in 2013

Fri, 04 Jan 2013 03:57:00 GMT

The Shanghai stock exchange has rebounded in recent weeks on the back of upbeat economic data as well as positive sentiment towards its new leadership. Richard Stovin-Bradford and Julia Grindell discuss the outlook as well as some of the lurking risks for the world's second-largest economy.

Assessing China’s property market

Tue, 18 Dec 2012 03:45:00 GMT

Encouraging November data highlights the possible opportunities for investors in China's property market. FT writers give Veronica Kan-Dapaah a view from on the ground.

Africa's dilemma over conflict minerals

Wed, 05 Dec 2012 08:29:00 GMT

East Africa correspondent Katrina Manson visits mineral traders in Rwanda and Democratic Republic of Congo to investigate efforts to clean up smuggling rackets that have repeatedly funded conflict in eastern Congo. She finds new legislation crafted thousands of kilometres away in Washington has backfired – Congo’s official exports have ground almost to a halt; conflict and smuggling continue and holes in a new tagging system have delivered a gift to the very people it was intended to stop.

Eurozone banking union to-do list

Thu, 13 Dec 2012 04:12:00 GMT

In the early hours of Friday morning rules for setting up a European banking union were agreed. Lex's Nikki Tait and Oliver Ralph discuss what has been finalised and what is still to be done.

Will Monti make a comeback?

Mon, 10 Dec 2012 03:36:00 GMT

Italy’s government borrowing costs jumped and its stock market fell sharply after Mario Monti announced his decision to resign as Italy's technocrat prime minister. Lex's Vincent Boland and Oliver Ralph discuss whether Mr Monti might return with a democratic mandate.

Greece's second default

Tue, 27 Nov 2012 03:36:00 GMT

Greece's bailout programme is back on track after a radical overhaul was agreed, amounting effectively to a second Greek default. Lex's Stuart Kirk and Vincent Boland discuss whether Greece can climb out of its austerity trap and ever achieve the target debt to GDP ratio of 124 per cent.

What awaits Mark Carney at the Bank of England

Mon, 26 Nov 2012 06:16:00 GMT

He has been touted as the best man for the job, but what exactly can Mark Carney expect when he takes on the role of governor at the Bank of England next year? DeAnne Julius, former MPC member, and Chris Giles, economics editor, lay out some of the challenges to the FT's Seb Morton-Clark.

Schäuble: finance minister of the year

Wed, 21 Nov 2012 04:10:00 GMT

Wolfgang Schäuble, Germany's finance minister has been voted as European finance minister of the year by an FT panel of experts. Mr Schäuble talks to Quentin Peel, chief Germany correspondent, about why he sees a light at the end of the tunnel for the eurozone crisis.

US fiscal cliff edges closer

Tue, 20 Nov 2012 03:45:00 GMT

Will the US government leap the $600bn chasm? Sushil Wadhwani of Wadhwani Asset Management and Gavyn Davies of Fulcrum Asset Management talk to Christopher Adams, markets editor, about the likelihood of a deal and what it might look like.

Europe's cracks deepen

Thu, 15 Nov 2012 18:16:12 GMT

The economic strains pulling at Europe's seams are bringing about a rise in nationalist and separatist movements. Frederick Studemann, comment and analysis editor, talks to Tony Barber, Europe editor, and Ferdinando Giugliano, leader writer, about how much further austerity measures can be taken and what political upheaval they might cause in the run-up to the EU budget.

Sachs: Obama will prevail

Mon, 12 Nov 2012 03:09:00 GMT

Economist and president of the Earth Institute at Columbia University, Jeffrey Sachs is optimistic about Barack Obama's second term in office. He sees the president's strengthened political position as an opportunity to address what he believes are structural problems with the US economy. He tells John McDermott, comment editor, how the administration must go beyond Keynesian policies and reach out to local politicians to bridge bipartisan gaps.

Facing the unknown

Wed, 07 Nov 2012 05:33:00 GMT

With the US election behind us, investors are moving on to the next big uncertainties: the US fiscal cliff, the euro and the new Chinese leadership. James Mackintosh, investment editor, looks at how the big political questions are scaring the markets.

Spain's olive farmers feel the pressure

Thu, 23 Aug 2012 08:22:00 GMT

The FT's Miles Johnson reports from Andalucía on a an industry squeezed between a supply glut and the impact of the legacy of its property bubble.

Greece deteriorating

Thu, 01 Nov 2012 03:29:00 GMT

Greece's 2013 budget makes depressing reading as the country's economy continues to deteriorate at an alarming rate. Ahead of the parliamentary vote on the budget next week Lex's Oliver Ralph and Vincent Boland discuss what needs to be done about Greece's debt mountain.

Time for helicopter money?

Thu, 01 Nov 2012 01:21:00 GMT

Is it time for "helicopter money" as conventional monetary policy fails to sufficiently boost demand? Or is the concept already here in the form of quantitative easing? FT economics leader writer Martin Sandbu and economics editor Chris Giles discuss.

Investors tread carefully in Russia

Tue, 23 Oct 2012 06:32:00 GMT

Following BP’s decision to sell its stake in joint venture TNK-BP to Russian national energy champion Rosneft, FT capital markets editor Ralph Atkins discusses with beyondbrics editor Stefan Wagstyl why the shares of Russia and its oil companies trade at a discount to their rivals.

Testing the limits of Fed policy

Tue, 23 Oct 2012 06:36:00 GMT

The FT's US markets editor Michael Mackenzie says the recent performance of assets price is testing the limits of Federal Reserve policy. He examines prices since the launch of the latest round of quantitative easing.

ECB official: Bank ready for bond buying

Mon, 22 Oct 2012 06:28:00 GMT

European Central Bank executive board member Benoît Cœuré talks to the FT’s Michael Steen and insists the Outright Monetary Transactions programme is to improve monetary policy transmission and not to subsidise member states’ borrowing.

China’s economic health remains strong

Fri, 19 Oct 2012 01:32:00 GMT

China's underlying economic health is strong, says China Confidential editor James Kynge, commenting on the country's latest GDP figures. He tells FT capital markets correspondent Robin Wigglesworth that high levels of bond issues indicate a resilient corporate sector.

The next moves in BP's Rosneft game plan

Thu, 18 Oct 2012 06:54:00 GMT

Lex's Stuart Kirk and Oliver Ralph discuss UK oil multinational BP's next steps in Russia. The country's national energy champion Rosneft has offered $28 bn in cash and shares for BP's 50% stake in TNK-BP.

EMs can handle lower commodity prices

Thu, 18 Oct 2012 01:53:00 GMT

Deputy emerging markets editor Jonathan Wheatley talks to David Rees of Capital Economics about his prediction of a 15-20% fall in commodity prices in 2013. He says oil-producing countries will be hit much harder than other emerging markets such as Brazil and Chile.

BP, Rosneft and the call of the Arctic

Wed, 17 Oct 2012 04:05:00 GMT

Lex's Stuart Kirk and Oliver Ralph assess what the sale of the oligarchs' stake in TNK-BP to Russia national oil champion Rosneft means for BP: should the UK oil multinational sell out or keep a stake to access Russia's Arctic?

IMF austerity data questioned

Wed, 17 Oct 2012 01:14:00 GMT

Economics editor Chris Giles explains to capital markets editor Ralph Atkins his concerns about the robustness of data used by the International Monetary Fund to assess the impact of austerity measures on growth.

No more financial 'oil spills'

Tue, 16 Oct 2012 05:57:00 GMT

Lex's Richard Stovin-Bradford and Oliver Ralph assess the chances of less mis-selling of financial products under the UK's new Financial Conduct Authority led by Martin Wheatley.

Stagflation worries mount

Mon, 15 Oct 2012 05:39:00 GMT

FT investment editor James Mackintosh examines mounting concern that the global economy is heading towards stagflation - worse inflation and worse growth - and, by looking at gold prices, suggests how investors should react.

BAE EADS: The end of Enders?

Wed, 10 Oct 2012 04:56:00 GMT

Lex's Stuart Kirk and Vincent Boland analyse the scuppering of a tie-up deal between EADS and BAE Systems to create the world's biggest defence and aerospace company. They discuss if this now threatens the future of Tom Enders as EADS chief executive.

Lionel Barber on US elections

Thu, 04 Oct 2012 11:33:00 GMT

In the first debate of the US presidential election, the republican candidate Mitt Romney was the clear winner over the incumbent Barack Obama. Lionel Barber, FT editor, discusses with economics leader writer Martin Sandbu what the debate tells us about the likelihood of resolving the US's looming fiscal cliff.

S Africa opposition calls for reform

Wed, 03 Oct 2012 07:12:00 GMT

Alec Russell, news editor, talks to Helen Zille, leader of South African opposition party Democratic Alliance, about the recent social unrest connected with the mining industry and the outlook for the economy as a whole.

BoE's Haldane: Bank splits may create value

Wed, 03 Oct 2012 00:17:00 GMT

Before the financial crisis the market believed banks were worth as much as four times the value accountants had written in their books. Since 2008 values have collapsed to much less than par. Andrew Haldane, executive director of financial stability at the Bank of England, discusses with economics editor Chris Giles how splitting banks could increase value for investors.

A new model for Wall Street?

Sun, 30 Sep 2012 20:04:21 GMT

Four years since the financial crisis, Wall Street continues to search for a new business model. Analysts tell the FT that banks must take drastic action to boost profits or accept that returns may never come back to pre-crisis levels.

Spanish spanners

Fri, 28 Sep 2012 01:51:00 GMT

The latest spanner in the works of the Spanish sovereign debt crisis is Catalonia's plan to hold a secession referendum. Myles Bradshaw, portfolio manager at Pimco, expects a compromise along a rocky road. Other concerns include the banking system, and Spain's delay in applying for a eurozone bailout. Mr Bradshaw explains to Long View columnist John Authers that this really needs to be done by the end of October to allay further market nervousness.

Can Romney recover? Markets think not

Thu, 27 Sep 2012 02:06:00 GMT

The candidates are yet to debate, but markets are already assuming Barack Obama will be re-elected as US president. Gideon Rachman, chief foreign affairs commentator, discusses with Long View columnist John Authers whether Mitt Romney can recover and the impact congressional elections could have on the looming fiscal cliff.

Alpine imbalances

Tue, 25 Sep 2012 05:29:00 GMT

Switzerland's effort to stop its currency strengthening has led its central bank to buy eurozone bonds worth half the total deficit the region's safer countries will rack up this year. James Mackintosh, investment editor, says central banks are driving bond yields.

Spain's gains

Wed, 12 Sep 2012 06:21:00 GMT

The rally in Spanish short-term bonds seems to have stalled. James Mackintosh, investment editor, says this could take the relief out of the broader European rally.

China uncertainty

Wed, 12 Sep 2012 00:12:00 GMT

Speculation of a new stimulus in China to soften its slowdown has encouraged stock markets, but the disappearance of Xi Jinping, the presidential heir apparent, just adds to the uncertainty. James Kynge, principal of China Confidential, the FT's China research service, discusses the signs of a pickup in activity and the impact of the opacity of the leadership in the world's second largest economy.

ECB's regulatory challenge

Wed, 12 Sep 2012 03:38:00 GMT

The European Central Bank is to be given ultimate supervisory authority over the eurozone's banks as the next crucial stage of integrating the single currency area's financial system. Lex's Vincent Boland and Nikki Tait discuss how the ECB will meet the challenge of taking the region's 6,000 banks under its wing by 2014.

John McCain: America must lead

Tue, 11 Sep 2012 06:48:00 GMT

John McCain, US senator for Arizona, talks to Sarah Gordon about Syria, Russia, Star Wars and the fiscal cliff.

The eurozone fragments

Thu, 06 Sep 2012 05:28:00 GMT

As banks downsize their exposure to the periphery countries, the longstanding aim of financial integration has gone into reverse. FT comment and analysis editor Frederick Studemann discusses what this means for the eurozone with Ralph Atkins, capital markets editor, and Chris Giles, economics editor.

ECB must spend, spend, spend to defend plan

Thu, 06 Sep 2012 05:04:00 GMT

Super Mario has flown to the rescue of the eurozone, with the markets delighted by the European Central Bank chief Mario Draghi's bond buying plan. James Mackintosh, investment editor, warns that once the euphoria subsides, markets will test Mr Draghi's willingness to spend.

Moral hazard beckons in eurozone

Wed, 05 Sep 2012 05:44:00 GMT

The European Central Bank's plan to save the euro, coming to a screen near you tomorrow, hopes to stop governments frittering away the benefits of lower bond yields by overseeing their budgets. James Mackintosh, investment editor, worries that history shows eurozone governments are particularly prone to fiddling their forecasts.

Draghi's free rein

Tue, 04 Sep 2012 05:22:00 GMT

Mario Draghi is expected to don his superhero cape on Thursday and soar to save the euro with a plan to buy bonds of troubled eurozone countries. James Mackintosh, investment editor, says Mr Draghi's 'convertibility premium' is pretty much incalculable so he could have a free rein to do whatever he wants.

China's endangered bulls

Mon, 03 Sep 2012 03:50:00 GMT

The latest manufacturing data from China showed a contraction suggesting that any rebound expected from piecemeal economic loosening has not arrived. Lex's Stuart Kirk and Julia Grindell discuss the case for China bulls.