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Chocolate makers have slashed their use of hedges against price rises due to the soaring cost of futures contracts, in a bet that the huge bull market in cocoa is finally over. Manufacturers typically use the futures market to hedge against price fluctuations, securing long-term contracts to lock in a set level. But surging cocoa … Read more
Stay informed with free updates Simply sign up to the Cryptocurrencies myFT Digest — delivered directly to your inbox. Brandon Lutnick, son of US commerce secretary Howard Lutnick, is partnering with SoftBank, Tether and Bitfinex to capitalise on a cryptocurrency revival under US President Donald Trump. The consortium is creating a multibillion-dollar bitcoin acquisition vehicle … Read more
Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Wall Street stocks rallied and oil prices jumped on Tuesday after the US Treasury secretary said a trade war with China was “unsustainable”. Scott Bessent told investors at a conference hosted by JPMorgan … Read more
Stay informed with free updates Simply sign up to the Fund management myFT Digest — delivered directly to your inbox. Powerful New York City public pension funds are prepared to drop asset managers that do not comply with its climate plans, its comptroller Brad Lander will warn today, in a move that could put industry … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Elliott Management is pressing BP to increase its free cash flow by an additional 40 per cent through deep cuts to spending, as the activist investor upped its stake in the energy group to more … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. British Steel has halted plans to lay off up to 2,700 workers at its plant in eastern England after ending a consultation on mass redundancies that was initiated by its previous management. Last month the … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Argentex, a UK-listed specialist in managing foreign exchange risk, has become a casualty of market volatility sparked by US President Donald Trump’s trade war, with the company forced to suspend its shares after a rout … Read more
This article is an on-site version of our Energy Source newsletter. Premium subscribers can sign up here to get the newsletter delivered every Tuesday and Thursday. Standard subscribers can upgrade to Premium here, or explore all FT newsletters Hello and welcome back to Energy Source, coming to you from New York and Sydney. Fatih Birol, the … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Gold hit a record $3,500 a troy ounce for the first time and the dollar fell on Tuesday, as Donald Trump’s sustained attack on US Federal Reserve chair Jay Powell added to fears over the … Read more
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Donald Trump’s global trade war is threatening a corner of America that voted in droves for the Republican president last year: oil-producing North Dakota. It might also upend the president’s plans to boost … Read more