Accessibility helpSkip to navigationSkip to contentSkip to footer
  • Sign In
  • Subscribe
Open side navigation menuOpen search bar
Financial Times
SubscribeSign In
  • Home
  • World
    Sections
    • World Home
    • Middle East war
    • Global Economy
    • UK
    • US
    • China
    • Africa
    • Asia Pacific
    • Emerging Markets
    • Europe
    • War in Ukraine
    • Americas
    • Middle East & North Africa
    Most Read
    • Sequoia COO quit over Shaun Maguire’s comments about Mamdani
    • Reeves targets tax partnerships in crackdown on wealthy Britons
    • UK inflation unexpectedly holds steady at 3.8% in September
    • US and Qatar issue energy and trade threats to EU over climate rules
    • Trump and Putin cancel Budapest summit over Ukraine
  • US
    Sections
    • US Home
    • US Economy
    • US Companies
    • US Politics & Policy
    Most Read
    • Sequoia COO quit over Shaun Maguire’s comments about Mamdani
    • Inside Oklo: the $20bn nuclear start-up without any revenue
    • US and Qatar issue energy and trade threats to EU over climate rules
    • Trump and Putin cancel Budapest summit over Ukraine
    • Trump administration under growing pressure over Argentine intervention
  • Companies
    Sections
    • Companies Home
    • Energy
    • Financials
    • Health
    • Industrials
    • Media
    • Professional Services
    • Retail & Consumer
    • Tech Sector
    • Telecoms
    • Transport
    Most Read
    • Sequoia COO quit over Shaun Maguire’s comments about Mamdani
    • Inside Oklo: the $20bn nuclear start-up without any revenue
    • US and Qatar issue energy and trade threats to EU over climate rules
    • Starbucks slowdown creates bad blood with landlords
    • Eurostar places €2bn order for double-decker trains
  • Tech
    Sections
    • Tech Home
    • Artificial intelligence
    • Semiconductors
    • Cyber Security
    • Social Media
    Most Read
    • Sequoia COO quit over Shaun Maguire’s comments about Mamdani
    • Bannon and Markle among 800 public figures calling for AI ‘superintelligence’ ban
    • Why can’t I buy a small smartphone?
    • OpenAI launches Atlas web browser
    • Kraken’s software is swallowing Octopus Energy
  • Markets
    Sections
    • Markets Home
    • Alphaville
    • Markets Data
    • Crypto
    • Capital Markets
    • Commodities
    • Currencies
    • Equities
    • Monetary Policy Radar
    • Wealth Management
    • Moral Money
    • ETF Hub
    • Fund Management
    • Trading
    Most Read
    • Bubble-talk is breaking out everywhere
    • Gold tumbles 5% in biggest sell-off since 2020
    • Andrew Bailey warns ‘alarm bells’ ringing over private credit market
    • Rethink ‘terrifying’ warnings over buying shares, says Lord Mayor
    • Why is the US supporting Argentina’s currency?
  • Climate
  • Opinion
    Sections
    • Opinion Home
    • Columnists
    • The FT View
    • The Big Read
    • Lex
    • Obituaries
    • Letters
    Most Read
    • Bubble-talk is breaking out everywhere
    • Politics not tech makes the world go round
    • Putin’s mesmeric sway on Trump
    • Why the ‘thrifty gene’ hypothesis is back
    • The hard task of exiting the populist trap
  • Lex
  • Work & Careers
    Sections
    • Work & Careers Home
    • Business School Rankings
    • Business Education
    • Europe's Start-Up Hubs
    • Entrepreneurship
    • Recruitment
    • Business Books
    • Business Travel
    • Working It
    Most Read
    • How employers can prevent AI ‘work slop’
    • Ghosts, grave robbers and witch trials: a walk around haunted Edinburgh
    • FT-Statista 2026 Diversity Leaders ranking and methodology
  • Life & Arts
    Sections
    • Life & Arts Home
    • Arts
    • Books
    • Food & Drink
    • FT Magazine
    • House & Home
    • Style
    • Puzzles
    • Travel
    • FT Globetrotter
    Most Read
    • Stolen Louvre treasures are uninsured, France says
    • The manosphere is going into business
    • Could UK property tax reform take the fun out of dinner-party chat?
    • Style secrets of the Roman woman
    • Prosperity Through Growth — a not so cunning plan to put Britain back on track
  • HTSI
MenuSearch
  • Home
  • World
  • US
  • Companies
  • Tech
  • Markets
  • Climate
  • Opinion
  • Lex
  • Work & Careers
  • Life & Arts
  • HTSI
Financial Times
SubscribeSign In

Appears we are having some issues loading our cookie management widget

Return to the FT homepage

Useful links

Support

View Site TipsHelp CentreContact UsAbout UsAccessibilitymyFT TourCareersSuppliers

Legal & Privacy

Terms & ConditionsPrivacy PolicyCookie PolicyManage CookiesCopyrightSlavery Statement & Policies

Services

Share News Tips SecurelyIndividual SubscriptionsProfessional SubscriptionsRepublishingExecutive Job SearchAdvertise with the FTFollow the FT on XFT ChannelsFT Schools

Tools

PortfolioFT AppFT Digital EditionFT EditAlerts HubBusiness School RankingsSubscription ManagerNews feedNewslettersCurrency Converter

Community & Events

FT Live EventsFT ForumsFT Leaders Academy

More from the FT Group

Markets data delayed by at least 15 minutes. © THE FINANCIAL TIMES LTD 2025. FT and ‘Financial Times’ are trademarks of The Financial Times Ltd.
The Financial Times and its journalism are subject to a self-regulation regime under the FT Editorial Code of Practice.
Edition:International
UK
Subscribe for full access

Top sections

  • Home
  • World
    • Middle East war
    • Global Economy
    • UK
    • US
    • China
    • Africa
    • Asia Pacific
    • Emerging Markets
    • Europe
    • War in Ukraine
    • Americas
    • Middle East & North Africa
  • US
    • US Economy
    • US Companies
    • US Politics & Policy
  • Companies
    • Energy
    • Financials
    • Health
    • Industrials
    • Media
    • Professional Services
    • Retail & Consumer
    • Tech Sector
    • Telecoms
    • Transport
  • Tech
    • Artificial intelligence
    • Semiconductors
    • Cyber Security
    • Social Media
  • Markets
    • Alphaville
    • Markets Data
    • Crypto
    • Capital Markets
    • Commodities
    • Currencies
    • Equities
    • Monetary Policy Radar
    • Wealth Management
    • Moral Money
    • ETF Hub
    • Fund Management
    • Trading
  • Climate
  • Opinion
    • Columnists
    • The FT View
    • The Big Read
    • Lex
    • Obituaries
    • Letters
  • Lex
  • Work & Careers
    • Business School Rankings
    • Business Education
    • Europe's Start-Up Hubs
    • Entrepreneurship
    • Recruitment
    • Business Books
    • Business Travel
    • Working It
  • Life & Arts
    • Arts
    • Books
    • Food & Drink
    • FT Magazine
    • House & Home
    • Style
    • Puzzles
    • Travel
    • FT Globetrotter
  • Personal Finance
    • Property & Mortgages
    • Investments
    • Pensions
    • Tax
    • Banking & Savings
    • Advice & Comment
  • HTSI
  • Special Reports

FT recommends

  • Alphaville
  • FT Edit
  • Lunch with the FT
  • FT Globetrotter
  • #techAsia
  • Moral Money
  • Visual and data journalism
  • Newsletters
  • Video
  • Podcasts
  • News feed
  • FT Schools
  • FT Live Events
  • FT Forums
  • FT Leaders Academy
  • myFT
  • Portfolio
  • FT Digital Edition
  • Crossword
  • Our Apps
  • Help Centre
  • Subscribe
  • Sign In