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French police have raided the Paris offices of Sanjeev Gupta’s GFG Alliance and a metalworks it formerly owned in an escalation of a criminal probe into the metals magnate’s empire. The Paris Prosecutor’s Office last year launched an investigation into Gupta’s French operations over allegations of “misuse of corporate assets” and “money laundering”, mirroring a

A new European framework for assessing medicines has the potential to speed up access to groundbreaking treatments and reduce the administrative burden on pharmaceutical companies, according to its developers. Health technology assessments, which examine the clinical effectiveness of a new medicine or medical device compared with existing technologies, are currently conducted by individual EU member

Aircraft leasing companies have launched a multinational effort to persuade safety authorities to allow grounded planes that were returned from Russia without full maintenance records back into commercial service. Declan Kelly, chair of Aircraft Leasing Ireland, said the trade body had begun an “asset preservation study” with regulators in Europe, the US and Bermuda to

Mainland Chinese property companies are scaling back their presence in Hong Kong as they struggle to deal with a liquidity crisis that has rocked the sector and forced the world’s most indebted developer Evergrande to default. Cash-strapped property company Kaisa, the Chinese sector’s second-biggest offshore bond issuer after Evergrande, sold an entire floor at The

The chief executive of Mizuho, SoftBank’s main lender, said he was “totally unconcerned” about the Japanese technology conglomerate’s financial health despite the sell-off in tech stocks forcing it to slow down investments. Mizuho, Japan’s third-largest lender, is part of a consortium of banks that provided SoftBank with a syndicated loan of $8bn this month as

UK ministers are poised to double the government assistance provided to energy-intensive industries whose bills are soaring with an estimated £800mn three-year package to be announced on Friday. Kwasi Kwarteng, business secretary, has been under pressure from big business to provide relief for the spiralling cost of gas that is driving up global energy prices.

The Pensions Regulator has become involved in a dispute over a £12mn surplus cash payment within a retirement scheme for thousands of UK water sector workers, in a case that is being closely watched by the industry. The regulator said on Monday it was in discussions with the trustees of the £710mn Water Companies Pension

Explosions struck the building housing the security services of the breakaway Moldovan republic of Transnistria on Monday, days after Moscow said the Russian-backed region could be drawn into the war in Ukraine. Transnistria, which is controlled by pro-Russian separatists and hosts Russian troop bases and arms depots, borders western Ukraine. It is seen as a

There may be much more leverage in leveraged buyouts than meets the eye. Evidence comes from Elon Musk’s $43bn Twitter bid and a far lower-profile fundraising by London-based asset manager 17Capital. Musk plans to obtain $12.5bn from a margin loan against Tesla shares worth $62.5bn. The money would contribute to the $33.5bn of cash equity

Hello dear readers, I hope you all had a good Easter break. Last week’s State of Fintech report from CB Insights had some striking stats. The first quarter of the year saw an 18 per cent quarter-on-quarter drop in funding, the largest since 2018 (though it was still the fourth strongest quarter on record). At the

European sanctions being imposed on individuals and companies believed to have ties to the Kremlin increases the danger that the internet could be split and siloed along political divides, according to the main internet registry for Europe, the Middle East and parts of Central Asia. RIPE NCC, a non-profit which hands out IP domain names

France’s Caribbean overseas territories have often been demonstrative in their dislike of far-right presidential candidates. On the 1988 campaign trail, Jean-Marie Le Pen was met with protests at a Martinique airport, which prevented his plane from landing. In 2017, his daughter Marine’s highest score in the Caribbean region was just 35.1 per cent, in Guiana.

Good evening, A UK parliamentary report today hit out at “disproportionate” and “arbitrary” Covid-19 travel restrictions that had left air passengers confused and delivered a “severe financial shock” to the aviation sector. As our Big Read explains, the last two years have seen the global industry battling for survival against flight bans and strict restrictions

Twitter is edging closer to selling the social media company to Elon Musk for $43.4bn in what could be one of the largest buyouts in history, people briefed about the matter have said. Twitter’s board was still meeting early on Monday to finalise the terms of an agreement with Musk, said one person briefed on

One of the lessons from the banking crisis is that it didn’t entirely matter who made the mess — everyone had to be seen to pay for it. Energy suppliers now face similar demands for penance as the price crisis drags on. High prices are not the fault of UK energy providers but a function

Welcome back and good afternoon from a sunny London. We hope you enjoyed the Easter holidays. Today, we bring you stories you may have missed while you were away. Also, find out which MBA schools are rated the best for organisational behaviour teaching. Due to a UK national holiday, our newsletter will return on May

Robert Golob founded his Freedom party just a year ago and now the former energy executive has swept to power in Slovenia after voters turned away from the populist politics of outgoing prime minister Janez Jansa. Golob’s upstart centre-left party won about a third of the votes in Sunday’s elections, with Jansa’s Slovenian Democratic party

The ever-faster pace of business poses challenges for corporations — and offers opportunities for a range of legal knowhow providers to help with answers to those problems. The Financial Times is looking to turn a spotlight on these providers, from the established players to the upstart newcomers. For businesses of all kinds, the Covid pandemic

The writer teaches at MIT and is a founding partner at the design and innovation office Carlo Ratti Associati Imagine Travis Kalanick, the ousted founder of Uber, opening his company’s app in New York and finding a surprise: the presence of what he used to call an “asshole named Taxi”. After a decade of lawsuits

Honk honk! Here comes the crypto clown car. Sam Bankman-Fried, chief executive and founder of Bahama-based crypto-exchange FTX, appeared on Bloomberg’s excellent Odd Lots podcast Monday, and was joined by the Borg’s Matt Levine alongside regular hosts Joe Weisenthal and Tracy Alloway. Bankman-Fried is widely regarded as one the smartest and most establishment-friendly fellows in