‘I hate to be politically correct’

In the late 1990s, as rebels overthrew the longtime dictator Mobutu Sese Seko in what is now the Democratic Republic of Congo, Claudio Descalzi, then a 41-year-old regional manager for Italian oil major Eni, slept under his bed with his children to avoid being shot in the night. “My wife was pregnant. Fortunately she was … Read more

Venezuela arrests dozens in crackdown on black market dollars

Venezuela’s authoritarian government has arrested dozens of people, including a former finance minister, in a crackdown on black market dollars and independent economists that analysts fear could return the country to economic ruin. The country’s bolívar currency has lost about two-thirds of its official value since President Nicolás Maduro abandoned a fixed exchange rate in … Read more

Assault on proxy advisers is an attack on the rights of asset owners

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is chief executive of Minerva Analytics, a shareholder advisory firm The firms that advise big shareholders on corporate governance matters and help them vote are under siege. A simmering backlash over the activities … Read more

Have cryptocurrencies arrived as an asset class? It’s complicated

There is a buzz around bitcoin. The world’s oldest and best-known cryptocurrency is trading close to record highs as enthusiastic investors bet on greater political and regulatory support from Donald Trump’s administration. The digital currency has climbed by more than 50 per cent since Trump’s election victory in November and has wiped out all the … Read more

What will it take to make British investors buy British stocks?

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. British stocks are on track for their best half-year since 2021. Meanwhile, concerns about unpredictable trade policy and spiralling government debt have shaken a long-held investor belief in “US exceptionalism”. If ever there were a … Read more