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Ending furlough scheme early will cost jobs, business warns

Rishi Sunak has vowed to avoid ‘cliff edge’ when programme ends next month




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Archaeologists compete with detectorists in finding notable jewellery

Ancient antagonists build bridges as treasure finds mount up




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Dubai raises public spending to ward off slowdown

Forecast of 3.2 per cent growth in 2020 would be improvement on 2.1 per cent in 2019




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Saudi Aramco slashes spending as oil price war rages

Capital expenditure expected to fall 23% at state energy company




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State-backed SME lending picks up pace too late for many

Third of UK small businesses reported so low on cash they cannot survive longer than 2 more weeks




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The Assistant — a coldly furious indictment of a film mogul monster

Kitty Green’s response to the Harvey Weinstein case unfolds with muted rage




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EU-led coronavirus funding drive nears initial €7.5bn target

Pledging conference underscores urgency to develop vaccine and distribute it worldwide




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Brussels and Britain clash over climate conditions in trade deal

EU push to incorporate Paris agreement adds to tension over post-Brexit relationship




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Lockdown deepens woes of India’s mobile operators

Subsidies and freebies to retain cash-strapped users add to sector’s financial burden




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Indian telecoms/Vodafone: don’t call us

Operators grapple with fierce competition in their battle to boost profits




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Introducing, the Disney Park Indicator

Yet another economic acronym to impress your friends with.




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UK mortgage market, Indian banks and UBS leadership

Patrick Jenkins and guests discuss the outlook for the UK mortgage market, the reform of India's state-owned banks and leadership changes at UBS. With special guest Darren Cook, Mortgage Analytics Manager at Moneyfacts.


Contributors: Patrick Jenkins, financial editor, Nicholas Megaw, retail banking correspondent, Benjamin Parkin, Mumbai correspondent, Alice Ross, wealth correspondent, and Stephen Morris, European banking correspondent. Producer: Fiona Symon

 

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The buzz business: Peter Aspden on the branding of culture

Like it or not, the vibrancy of London’s art scene is due in part to the efforts of marketeers, public relations teams and great coffee shops, says the FT’s arts writer,  


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Money trouble: Peter Aspden on arts funding

Art and Mammon are uneasy bedfellows: witness the recent furore over the Sydney Biennale. The solution, says the FT’s arts writer, is for institutions to embrace debates over their funding, not run from them  


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Beginnings and endings: Taylor Swift and Sylvie Guillem

As pop star Swift, 24, takes a stand against Spotify and dancer Guillem, 49, announces her retirement, Peter Aspden reflects on two very different divas  


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Sincerity or self-branding: what defines millennial music?

From the unstoppable rise of hip-hop to the 'millennial whoop', what does today's new music sound like? And how has social media changed the relationship between artists and fans?


Harriet Fitch Little, India Ross and Griselda Murray Brown discuss Drake, Cardi B and DJ Khaled - in particular 'Wild Thoughts' ft. Rihanna and Bryson Tiller from 2017, which leans heavily on the melody and mood of Santana's 1999 hit 'Maria Maria', the coming-of-age soundtrack for the oldest cohort of millennials. 


Warning: this podcast contains a live 'millennial whoop'.

 

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Individual Savings Accounts - could these tax free wrappers take over from pensions as our preferred savings vehicle?

Could Isas overtake pensions as the UK's tax-saving vehicle of choice? The tax benefits of pensions have been steadily eroded over the past decade but at the same time, Isas have been coming into their own. Most people approaching retirement today will rely on a combination of pensions and Isa income. In this week's show, FT Money Show presenter Claer Barrett takes a break from covering the coronavirus and what it means for your money, and interviews the FT's Money Mentor columnist about why investors like Isas so much and how these investments compare to pensions. 

 

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White House considers winding down coronavirus task force

Vice-president makes suggestion even as number of deaths across the country spikes




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Half of online ad spending goes to industry middlemen

Study shines light on ‘near impenetrable’ £100bn market




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How are your spending habits changing under lockdown? 

Join a live discussion with our FT Money editor at 12pm and 5pm UK time on Wednesday April 8




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Diamond sector grinds to halt as India’s lockdown bites

Restrictions in nation that processes 90% of world’s stones upend global industry 




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Amundi and Janus Henderson suffer market-induced asset falls

Despite 8% drop in assets, French fund manager reports stronger performance than listed rivals




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The lurking debt disaster behind India's tallest tower

In the past decade, some of India’s largest financial groups have made big investments in luxury property, notably an ambitious Mumbai tower that was supposed to set new standards in urban design. But the economic boom they hoped would spur demand failed to materialise. Jyotsna Singh talks to Benjamin Parkin in Mumbai about what went wrong and the resulting debt crisis that is holding back growth.


Contributors: Jyotsna Singh, Delhi reporter, and Benjamin Parkin, Mumbai correspondent. Proucers: Jyotsna Singh and Fiona Symon

 

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What's behind India's lockdown of Kashmir?

The disputed Himalayan state of Jammu and Kashmir is in lockdown after India revoked its special status following a long running insurgency that led to thousands of deaths. Jyotsna Singh discusses what India plans to do next, and how neighbouring Pakistan, which also claims the territory, has reacted, with Amy Kazmin the FT's South Asia bureau chief.


Contributors: Jyotsna Singh, Delhi reporter, and Amy Kazmin, South Asia bureau chief. Producers: Jyotsna Singh and Fiona Symon

 

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Saudi Aramco's oil deal with India's Reliance Industries

Saudi Arabia's state oil company Aramco is making a high stakes investment in India as the world’s largest crude oil exporter seeks to deepen its ties with the fastest growing energy consumer. Tom O’Sullivan discusses the proposed investment, announced by Reliance Industries chairman Mukesh Ambani, with Benjamin Parkin and Anjli Raval.


Contributors: Tom O’Sullivan, deputy analysis editor, Benjamin Parkin, Mumbai correspondent, and Anjli Raval, senior energy correspondent. Producer: Fiona Symon

 

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Is India becoming a Big Brother state?

Narendra Modi’s Hindu nationalist policies have sparked protests and intercommunity violence across India. Against this backdrop, a proposed data protection bill that will allow his government free rein to spy on its citizens is causing particular concern. Madhumita Murgia discusses the bill with Benjamin Parkin in Mumbai.


Contributors: Madhumita Murgia, European technology correspondent, Benjamin Parkin, Mumbai correspondent. Producers: Persis Love and Fiona Symon

 

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Hydrogen energy projects win £30m UK funding

Schemes to look at cutting emissions in sectors such as transport in push to meet 2050 ‘net zero’ target




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Finding a Covid-19 vaccine needs a global effort

Countries should avoid turning to nationalism and share the burdens




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The Anarchy — East India Company in the dock

This riveting account of how a piratical corporation subjugated India resonates with today’s global capitalism




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Rio weighs closure of Icelandic smelter as it struggles with power costs

ISAL facility remains unprofitable as aluminium producers face weaker demand and prices




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Gupta completes acquisition of bankrupt Indian steelmaker

Business tycoon’s GFG Alliance makes first foray into fast-growing market after long court battle




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Chevron to slash spending further despite robust first quarter

Earnings of $3.6bn exceeded expectations ahead of collapse in global oil demand




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Hidden costs of Anbang’s spending spree

China looks set to pour billions in national savings down a black hole




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Non-bank lenders push for access to emergency state funding

Lobby groups led by UK Finance warn there is likelihood of ‘severe’ impact to borrowers




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Initial finding backs US health official over virus sidelining

Rick Bright’s lawyers say federal investigators recommend he be reinstated during probe




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Free FT webinar: Pensions funding storm

The Pensions Regulator and former minister Sir Steve Webb take part in online debate 




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Virginia candidates in a race to the bottom

The campaign has shone an unflattering light on the state of politics in America




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Carsten Spohr seeks softer landing for Lufthansa

If Berlin agrees a €9bn bailout for the airline, it is likely to want a 25 per cent stake and board seats




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Pension Regulator urged to abandon funding review

Covid-19 pandemic increases problems for retirement schemes already in deficit




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Coronavirus: BofA says US consumer spending starting to rebound — as it happened

A live blog from FT.com

Read more




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Cuckoo Internet closes seed funding to disrupt UK broadband market

Cuckoo Internet is a new U.K. startup that aims to disrupt the U.K. broadband market. It has now raised £470,000 in seed funding, which includes funding from work.fund, a new Silicon Valley fund operator fund led by Bart Macdonald (Sapling founder). Other investors include Lorin van Nuland (early investor in Betterment), Edward Campbell-Harris (Bulb early […]




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WhatsApp eyes lending feature in India as Amazon rolls out Pay Later to tens of thousands of customers

WhatsApp, which began testing its mobile payments feature in India two years ago, could offer at least one more financial service to people in its biggest market. In a filing with the local regulator in India, the Facebook -owned messaging platform has listed credit as one of the areas it will pursue in the country. […]




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Indian education startup Byju’s is fundraising at a $10B valuation

Byju’s, an education learning startup in India that has seen a surge in its popularity in recent weeks amid the coronavirus outbreak, is in talks to raise as much as $400 million in fresh capital at a $10 billion valuation, said three people familiar with the matter. The additional capital would be part of the […]




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Silver Lake to invest $747M in India’s Jio Platforms

Weeks after Facebook invested $5.7 billion in Jio Platforms, India’s top telecom operator, private equity firm Silver Lake is following suit — and is willing to pay a premium for it. Silver Lake announced on Monday it will be investing 56.56 billion Indian rupees (about $746.8 million) in Jio Platforms for about 1.15% stake in the Indian […]




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Vista Equity Partners to invest $1.5B in India’s Reliance Jio Platforms

Private equity firm Vista Equity Partners said on Friday it will invest $1.5 billion in Reliance Jio Platforms, joining social conglomerate Facebook and Silver Lake that have also made bets on the Indian telecom giant in recent weeks. The planned announcement, which would give the U.S.-headquartered software-focused buyout firm Vista Equity Partners a 2.32% stake in […]




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India’s Glance tops 100M daily active users in 21 months

Glance, which serves media content, news and casual games on the lock screen of Android -powered smartphones, has amassed 100 million daily active users, it said today. The subsidiary of ad-firm InMobi Group reached the milestone in 21 months in what appears to be the shortest duration for any popular internet service to gain their […]




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Amid stock market turbulence, investing app Stash raises $112M led by LendingTree

As coronavirus-hit financial markets continue to flip-flop in the wake of bad news followed by pockets of hope, a startup that aims to introduce ordinary consumers to investing has raised a big round of funding. New York-based Stash, which provides a mobile-first route to managing money through investment — as well as retirement, custodial and […]




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A security expert says India’s contact-tracing app has flaws; New Delhi says they are ‘by design’

The Indian government has said that its contact-tracing app Aarogya Setu “by design” fetches the location data of its 90 million users and allows them to view the concentration of people who have tested positive for the coronavirus in their vicinity. New Delhi issued the statement after France-based security researcher Baptiste Robert found what he […]




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Your iPhone will soon be able to tell 911 about your medical conditions and allergies

Got something in your medical history that first responders should know about if you call 911? Things like known drug allergies, or the medications you’re on? The iPhone and Apple Watch will soon be able to share this information with first responders automatically (if you opt to let it do so). When a user with […]




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Xiaomi, Samsung and others begin to resume smartphone production in India

Xiaomi, Vivo, Samsung, Oppo and other smartphone companies have received approval from some state governments in India to partially resume manufacturing and assembling of devices amid the ongoing lockdown in the world’s second largest handset market that completely shut operations at these plants in late March. The companies said that they have secured permission to […]