Italy’s largest refinery, which was sold by Moscow-based Lukoil after EU sanctions cut it off from Russian oil, is in crisis as the Greek billionaire who is now its majority investor and commodity giant Trafigura clash over the terms of a crude supply arrangement. GOI Energy bought the ISAB plant in the Sicilian town of … Read more
Beyond BP: John Browne on the oil company’s green U-turn and a ‘once in a generation vibe shift’
Donald Trump signalled that smartphones and other consumer electronics imported to the US from China would face tariffs, dealing a blow to hopes of a reprieve for Big Tech companies such as Apple, Nvidia and Microsoft. “NOBODY is getting “off the hook” for the unfair Trade Balances, and Non Monetary Tariff Barriers, that other Countries … Read more
Stay informed with free updates Simply sign up to the US equities myFT Digest — delivered directly to your inbox. Futures pointed to a tech stock rally when global markets opened in Asia on Monday for the first time since the US spared smartphones and other consumer electronics from the harshest tariffs against China. Futures … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK government officials are scrabbling to secure access to critical coal and iron ore supplies to keep Britain’s blast furnaces firing after emergency legislation was passed to keep British Steel afloat. A shipment of coal, … Read more
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world The author is vice-chair at Oliver Wyman and former global head of banks and diversified financials research at Morgan Stanley What will the longer-term financial consequences of Trump’s tariffs be? We may be … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK government has taken control of British Steel after passing emergency legislation on Saturday. Business secretary Jonathan Reynolds told MPs that ministers had no choice but to act to ensure the two blast furnaces … Read more
The European Central Bank is widely expected to lower interest rates at its meeting next week, but investors will be more interested in any clues on what an escalating global trade war means for monetary policy later in the year. Markets have moved to price in a faster pace of rate cuts as Donald Trump’s … Read more
Stay informed with free updates Simply sign up to the Oil & Gas industry myFT Digest — delivered directly to your inbox. North Sea oil and gas companies have agreed a series of mergers that will allow them to offset billions of pounds of tax liabilities against future profits. In three deals in the past … Read more
Stay informed with free updates Simply sign up to the Mining myFT Digest — delivered directly to your inbox. A remote gold and copper mine beneath a volcano in south-west Pakistan could provide key leverage for trade talks with the US, according to its operator, as Islamabad tries to reduce “reciprocal” tariffs originally set at … Read more