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Big oil braces for a rough year

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The oil industry is bracing for its worst year since the pandemic, and Spain and Portugal are reeling from a massive power outage. Plus, the FT’s Emily Herbert explains why the flight into the Swiss franc is causing a headache for the country’s central bank. Mentioned in this podcast: Big Oil braced for worst year … Read more

HSBC’s Elhedery backs US dollar despite tariffs hit to economic outlook

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. HSBC chief executive Georges Elhedery has said it is “critical” that the dollar maintains its position as the dominant currency while he outlined the impact of trade tariffs on the bank’s business. “Trust and confidence … Read more

UK took control of British Steel before assessing costs to taxpayers, letters show

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK government decided to seize control of British Steel before it had assessed the costs to taxpayers, raising questions over the ultimate price of saving the country’s last two blast furnaces. Jonathan Reynolds, business … Read more

UK plans close co-operation with the US over crypto regulation

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Stay informed with free updates Simply sign up to the UK financial regulation myFT Digest — delivered directly to your inbox. Britain will exempt overseas stablecoin issuers from complying with its new cryptocurrency rules, as ministers commit to closer co-operation with the US in regulating the emerging global market for digital assets. The proposals, set … Read more

Pemex suppliers face ‘critical moment’ as Mexican oil group’s bills go unpaid

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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, which comes to you from New York and Mexico City … Read more