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By Nigel Stephenson | LONDON LONDON European stocks and the euro pulled back on Monday from highs touched after Emmanuel Macron’s emphatic but well-flagged victory in France’s presidential election as investors’ focus shifted from politics to monetary policy. With the political risks that have dominated European markets in a year packed with elections seen receding, the European Central Bank is expected to have more room to tighten […]

BERLIN Europe’s political establishment entered 2017 in a state of panic. Britain had voted to leave the European Union six months before and the United States had just elected a president who was hostile to their grand project and the values it stood for. The same forces that had led to Brexit and Donald Trump – popular anger with distant elites, economic inequality and immigration – threatened […]

By Felix Onuah and Ahmed Kingimi | ABUJA/MAIDUGURI, Nigeria ABUJA/MAIDUGURI, Nigeria Boko Haram militants have released 82 schoolgirls out of a group of more than 200 whom they kidnapped from the northeastern town of Chibok three years ago in exchange for prisoners, the presidency said on Saturday. Around 270 girls were kidnapped in April 2014 by the Islamist militant group, which has killed 15,000 people and displaced […]

By Jonathan Cable | LONDON LONDON The fate of the European Union and the euro could hang on the outcome of Sunday’s French presidential election. The expected victory of centrist, pro-EU candidate Emmanuel Macron would be taken by markets as a sign that political risk in Europe is receding; a surprise win for far-right candidate Marine Le Pen would raise the risk that the euro zone’s number […]

FRANKFURT Shareholder adviser Ivox Glass Lewis has called on Linde (LING.DE) investors to vote against signing off on the actions of its management and supervisory board due to problems in the handling of a planned merger with peer Praxair (PX.N). The all-share merger of equals would reunite a global industrial gases company that split in World War One and would create a market leader to rival Air […]

By Ellen Francis | BEIRUT BEIRUT Syrian government forces and rebels clashed in the northwestern province of Hama on Friday shortly after a Russian-led deal to establish de-escalation zones took effect, a monitor and a rebel official said. Fighter jets fired at the rebel-held village of al-Zalakiyat and nearby positions in the Hama countryside, where the combatants exchanged shelling, the Syrian Observatory for Human Rights said. The […]

Karl Lagerfeld took Chanel back in time for its 2018 Cruise collection. Amid recreated columns of the Parthenon – which reportedly took four weeks to construct – Lagerfeld transformed the Grand Palais in central Paris into Ancient Greece. The timing could not be more pertinent. As France goes to the polls to select a new president, Britain begins the process of divorcing the EU, and Trump is, […]

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At the Rafah Crossing between Gaza and Egypt, Palestinians are peering through a towering border gate. What they’re looking at isn’t initially clear in Rosalind Nashashibi’s short film Electrical Gaza, but then, the 43-year-old British artist doesn’t deal in grand, obvious statements. Instead, she depicts everyday life, children playing in the street, horses swimming in the sea and even some animated scenes. It’s not quite the image […]

One of the EU’s most senior officials has called for a ceasefire in the verbal hostilities over Brexit with Theresa May, warning that looming talks could become “impossible” if calm is not restored. The intervention by Donald Tusk, European Council president, marks a concerted effort to defuse escalating tension between Brussels and London after the UK prime minister accused EU officials of trying to sabotage her election […]

Prince Philip, Queen Elizabeth’s stalwart companion during six decades on the throne, is to step down from his public duties from the autumn, Buckingham Palace announced on Thursday. The Duke of Edinburgh’s decision was taken with the support of the Queen, the statement said. London was earlier gripped by speculation of an imminent announcement after reports senior staff of the royal household had been called to the […]

By Michael Holden | LONDON LONDON There is no cause for alarm about the welfare of Queen Elizabeth or her husband Prince Philip after all senior royal staff were summoned to a meeting at Buckingham Palace on Thursday, a well-placed source told Reuters. The Daily Mail newspaper had reported that senior aides from across the country had been called to the palace for an emergency meeting, leading […]

HONG KONG Hong Kong’s next leader, Carrie Lam, vowed on Thursday to heal political and social divides, pledging to return the global financial hub to its “normal course of development”. Lam takes office on July 1 after being selected in March amid widespread concern that Beijing’s meddling had sealed her victory and denied the freewheeling former British colony a more popular leader. The former civil service chief […]

By Nichola Saminather | SINGAPORE SINGAPORE Asian stocks retreated on Thursday, taking their cues from a subdued session on Wall Street, while the dollar retained gains made after the Federal Reserve delivered a hawkish policy statement. At the end of its two-day meeting, the Fed kept its benchmark interest rate steady as expected, but downplayed weak first-quarter economic growth and emphasized the strength of the labor market, […]

Sign up to receive FirstFT by email here The Federal Reserve said it believed the recent slowdown in US growth was likely to prove temporary as it stayed on course for a further increase in short-term interest rates as soon as June. The US central bank kept its target range for the federal funds rate at 0.75 per cent to 1 per cent following its latest two-day meeting. In […]

BEIRUT: A large explosion shook a rebel-held Syrian town along the border with Turkey on Wednesday, killing at least five people and wounding others.The Britain-based Syrian Observatory for Human Rights said a car bomb went off in the town of Azaz close to the offices of the Syrian interim government, which represents the opposition in rebel-held areas. The Observatory and the activist-run Azaz Media Center confirmed the […]

Theresa May has formally launched her election campaign with an attack on “European politicians and officials”, whom she accused of threatening Britain and trying to sabotage her attempt to win re-election. Standing on the steps of Number 10, Mrs May set out to inflame Brexit tensions, claiming that events of recent days showed that “there are some in Brussels who do not want these talks to succeed”. […]

Prototype of the hand that sees. Credit: Newcastle University A new generation of prosthetic limbs which will allow the wearer to reach for objects automatically, without thinking—just like a real hand—are to be trialled for the first time. Led by biomedical engineers at Newcastle University, UK, and funded by the Engineering and Physical Sciences Research Council (EPSRC), the bionic hand is fitted with a camera which instantaneously […]

LONDON A man who left a bag packed with explosives and ball bearings on a London underground train on its way to the Canary Wharf financial district last October was convicted on Wednesday of planning to cause an explosion. Damon Smith, a 20-year-old student, assembled the device using instructions taken from an Al Qaeda-published magazine, prosecutors said after he was found guilty by a jury. He set […]

GENEVA Yemen faces a “famine of Biblical proportions”, veteran aid expert Jan Egeland warned on Wednesday during a visit to the war-battered nation, expressing fury over the failure of the “men with guns and power” to end the crisis. Yemen’s two years of civil war have pitted the Iran-aligned Houthi rebel group against a Saudi-backed coalition, causing economic collapse and severely restricting the food and fuel imports […]

The law justifying Britain’s Brexit bill is hotly contested, the variables in the calculation are legion and the negotiation has yet to start. But there can be no doubt that the EU’s €100bn demand to settle Britain’s exit dues is one of the biggest political dangers in the Brexit process. The Financial Times estimated the bill using the EU’s negotiating guidelines, the more detailed draft mandate for […]

China plans to launch its own online encyclopaedia next year, hoping to build a “cultural Great Wall” that can rival Wikipedia as a go-to information source for Chinese Internet users who Beijing fears are being corrupted by foreign influences China plans to launch its own online encyclopaedia next year, hoping to build a “cultural Great Wall” that can rival Wikipedia as a go-to information source for Chinese […]

News from the FT that the UK may face an initial Brexit bill of up to €100bn has dented sterling this morning. The currency fell by 0.2 per cent against the dollar to $1.29, nibbling into some of its eye-catching recent gains before recovering slightly. Against the euro, the pound is also down by 0.14 per cent to €1.1823. Broadly, the path for sterling since the general […]

LAGOS Nigerian President Muhammadu Buhari’s health is not as poor as assumed, his wife said on Tuesday, trying to assuage growing concerns in the oil producer over her husband’s ability to work. Buhari, 74, did not attend a cabinet meeting last Wednesday, choosing to rest and work from home, his second consecutive absence from the weekly meeting chaired by Vice President Yemi Osinbajo. “I wish to inform […]

LONDON Chemical firm Ineos said an incident had occurred at its Grangemouth site on Tuesday which emergency services described as a suspected gas leak and a local lawmaker advised people to stay indoors. Ineos said that its on-site responders were managing an incident at the oil refinery and petrochemicals site in central Scotland, which processes 200,000 barrels per day. “Ineos can confirm that an incident has occurred […]

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