BUSINESS

Trump is sowing confusion in the markets

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Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world There are many reasons to feel confused by current American policy. US President Donald Trump keeps issuing “final” tariff threats — then backing down. The White House wants to create industrial jobs — … Read more

US needs to prepare markets for the risk of a Chinese invasion of Taiwan

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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 author is chief executive of GTS, a market making and proprietary trading firm The past few years have shown investors that they should expect the unexpected in geopolitics. Russia’s full-scale invasion of Ukraine and … Read more

India on track for record IPO year

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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. India is on track for a record year in initial public offerings after the value of primary listings reached their highest year-to-date level on the back of interest rate cuts and strong domestic demand for … Read more

Citadel Securities buys Morgan Stanley’s electronic options market making unit

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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. Ken Griffin’s Citadel Securities has bought Morgan Stanley’s electronic options market making business, underscoring how high-frequency trading firms now dominate an industry once ruled by Wall Street banks. Citadel purchased both the underlying business from … Read more

Pentagon strikes investment deal with US critical minerals producer

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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 Pentagon is making a $400mn direct investment in a US rare earths producer, in an unusual arrangement highlighting the Trump administration’s determination to break Chinese dominance of critical minerals and bolster domestic supply chains. … Read more

Trading firms Virtu and Citadel Securities clash over new options exchange

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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. Virtu Financial has come out against rival Citadel Securities’ attempts to block the opening of a new US options exchange, as the high-speed trading giant wades into a dispute over market structure that has sucked … Read more