Accessibility helpSkip to navigationSkip to contentSkip to footer
  • Sign In
  • Subscribe
Open side navigation menuOpen search bar
Financial Times
SubscribeSign InmyFT
  • 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
    • Mitch McConnell: ‘We’re in a very, very dangerous world right now’
    • Luxury real estate brokers charged with sex trafficking
    • Business leaders warn Reeves about the impact of her Budget tax rises
    • Ayatollah Khamenei defiant even as Iran evacuates thousands from Syria
    • More than 10,000 UK civil service jobs to be cut
  • US
    Sections
    • US Home
    • US Economy
    • Investing in America
    • US Companies
    • US Politics & Policy
    • US Presidential Election 2024
    Most Read
    • Mitch McConnell: ‘We’re in a very, very dangerous world right now’
    • Luxury real estate brokers charged with sex trafficking
    • Ayatollah Khamenei defiant even as Iran evacuates thousands from Syria
    • The western myth of the ‘guy we can do business with’
    • US inflation rose to 2.7% in November
  • Companies
    Sections
    • Companies Home
    • Energy
    • Financials
    • Health
    • Industrials
    • Media
    • Professional Services
    • Retail & Consumer
    • Tech Sector
    • Telecoms
    • Transport
    Most Read
    • Luxury real estate brokers charged with sex trafficking
    • David Bonderman, private equity pioneer and TPG co-founder, dies
    • The AI agents are coming
    • BlackRock’s billionaire bonanza
    • Private equity firms Ares and Arctos buy NFL team stakes
  • Tech
    Sections
    • Tech Home
    • Artificial intelligence
    • Semiconductors
    • Cyber Security
    • Social Media
    Most Read
    • The AI agents are coming
    • Google races to bring AI-powered ‘agents’ to consumers
    • SpaceX’s valuation soars to $350bn in employee share deal
    • Microsoft’s Suleyman hires ex-DeepMind staff for AI health unit
    • Hackers take a bite out of Krispy Kreme
  • Markets
    Sections
    • Markets Home
    • Alphaville
    • Markets Data
    • Crypto
    • Capital Markets
    • Commodities
    • Currencies
    • Equities
    • Wealth Management
    • Moral Money
    • ETF Hub
    • Fund Management
    • Trading
    Most Read
    • The astonishing success of Eurozone bailouts
    • BlackRock’s billionaire bonanza
    • New eras, same bubbles: the forgotten lessons of history
    • The criminal’s ‘go-to cryptocurrency’ has a new friend in the White House
    • Happy 400th birthday to the world’s oldest bond
  • Climate
  • Opinion
    Sections
    • Opinion Home
    • Columnists
    • The FT View
    • The Big Read
    • Lex
    • Obituaries
    • Letters
    Most Read
    • The western myth of the ‘guy we can do business with’
    • The AI agents are coming
    • The astonishing success of Eurozone bailouts
    • BlackRock’s billionaire bonanza
    • New eras, same bubbles: the forgotten lessons of history
  • 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
    • Pay UK bosses like football stars, says Lord Spencer
    • Winner Parmy Olson on AI: ‘It’s not uncontrollable’
    • Obsessed with: Vancouver’s top-quality — and inexpensive — sushi
    • Remote and offshore work could hurt audit quality, US regulator warns
    • Parmy Olson wins FT and Schroders Business Book of the Year
  • Life & Arts
    Sections
    • Life & Arts Home
    • Arts
    • Books
    • Food & Drink
    • FT Magazine
    • House & Home
    • Style
    • Travel
    • FT Globetrotter
    Most Read
    • Mitch McConnell: ‘We’re in a very, very dangerous world right now’
    • Thought the petrol Jaguar was dead? Think again
    • Recipe Club: Bob Bob Ricard’s chicken and champagne pie
    • What if ticketing fees actually did some good? Humanitix has the answer
    • Sam Fender gives a tender and punchy performance at London’s O2 Arena
  • 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 ForumsBoard Director Programme

More from the FT Group

Markets data delayed by at least 15 minutes. © THE FINANCIAL TIMES LTD 2024. 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.
Financial Times

International Edition

Subscribe for full access
  • Switch to UK Edition

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
    • Investing in America
    • US Companies
    • US Politics & Policy
    • US Presidential Election 2024
  • 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
    • 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
    • Travel
    • FT Globetrotter
  • Personal Finance
    • Property & Mortgages
    • Investments
    • Pensions
    • Tax
    • Banking & Savings
    • Advice & Comment
    • Next Act
  • 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
  • Board Director Programme
  • myFT
  • Portfolio
  • FT Digital Edition
  • Crossword
  • Our Apps
  • Help Centre
  • Subscribe
  • Sign In