Accessibility helpSkip to navigationSkip to contentSkip to footer

Cookies on FT Sites

We use cookies and other data for a number of reasons, such as keeping FT Sites reliable and secure, personalising content and ads, providing social media features and to analyse how our Sites are used.

Accept cookies
Manage cookies
  • Sign In
  • Subscribe
Open side navigation menuOpen search bar
Financial Times
SubscribeSign InmyFT
  • Home
  • World
    Sections
    • World Home
    • Global Economy
    • UK
    • US
    • China
    • Africa
    • Asia Pacific
    • Emerging Markets
    • Europe
    • War in Ukraine
    • Americas
    • Middle East & North Africa
    • Australia & NZ
    Most Read
    • Black box economics: Russia’s internal struggle over classified financial data
    • US air force general predicts China conflict in 2025
    • Scholz rules out sending fighter jets to Ukraine
    • China targets consumption in bid to drive growth
    • Drones target Iranian military site in Isfahan
  • US
    Sections
    • US Home
    • US Economy
    • US Companies
    • US Politics & Policy
    Most Read
    • Companies
      Sections
      • Companies Home
      • Energy
      • Financials
      • Health
      • Industrials
      • Media
      • Professional Services
      • Retail & Consumer
      • Tech Sector
      • Telecoms
      • Transport
      Most Read
      • Adani Group says short seller’s report was ‘calculated attack on India’
      • Japanese firms step up intelligence gathering as US-China tensions mount
      • Rio Tinto apologises for losing highly radioactive capsule
      • French banks set to lose out on rising rates due to loan repricing rules
      • Has DNA sequencing expert Illumina taken the wrong path in search of holy grail?
    • Tech
    • Markets
      Sections
      • Markets Home
      • Alphaville
      • Markets Data
      • Cryptofinance
      • Capital Markets
      • Commodities
      • Currencies
      • Equities
      • Fund Management
      • Trading
      • Moral Money
      • ETF Hub
      Most Read
      • ‘Flying with one engine’: why global food supplies are at risk despite falling crop prices
      • BlackRock steps up spending on US lobbying in face of anti-ESG attacks
      • Commodity trade costs surge as industry seeks up to $500bn in extra finance
      • Smart money is still wary of the equity rally
      • Adani sell-off hits $52bn after short seller targets group
    • Climate
    • Opinion
      Sections
      • Opinion Home
      • Columnists
      • The FT View
      • The Big Read
      • Lex
      • Obituaries
      • Letters
      Most Read
      • The shock of mass lay-offs is only the beginning for companies
      • The world is not ready for the long grind to come
      • Inside the grim world of office spyware
      • Beware hollowing out the City of London
      • Big Tech got the pandemic wrong but one company emerged on top
    • Work & Careers
      Sections
      • Work & Careers Home
      • Business School Rankings
      • Business Education
      • Entrepreneurship
      • Recruitment
      • Business Books
      • Business Travel
      Most Read
      • A new generation refuses to keep quiet on age discrimination at work
      • What to do if you hate your job
    • Life & Arts
      Sections
      • Life & Arts Home
      • Arts
      • Books
      • Food & Drink
      • FT Magazine
      • House & Home
      • Style
      • Travel
      • FT Globetrotter
      Most Read
      • India against Gandhi — a legacy rewritten
      • Russian radio host Alexei Venediktov: ‘We didn’t hear the sound of army boots marching’
      • How London’s property market became an inheritocracy
      • Four cultural spots to hit this spring
      • The 60-year, 4,000-mile journey home of Lumumba’s tooth
    • HTSI
    1. Opinion
    2. Lex
    MenuSearch
    • Home
    • World
    • US
    • Companies
    • Tech
    • Markets
    • Climate
    • Opinion
    • Work & Careers
    • Life & Arts
    • HTSI
    Financial Times
    SubscribeSign In

    Lex

    FT's agenda-setting column on business and finance

    Lex is a premium financial commentary service from the Financial Times. It is arguably the world's most influential column of its kind, published daily since 1945. An award-winning team across four time zones helps readers make better investment decisions by highlighting key risks and opportunities.

    Sign up here to receive a letter from Lex’s centres around the world each Wednesday, and a review of the week’s best commentary every Friday by Jonathan Guthrie or Elaine Moore. Follow us on Twitter @FTLex

    Add to myFT Digest

    Add this topic to your myFT Digest for news straight to your inbox

    • Sunday, 29 January, 2023
      3D printing
      3D printed homes: nozzle application for tech will ensure prefabs sprout Premium content

      House printers say their method is faster and cheaper than traditional construction

    • Saturday, 28 January, 2023
      UK energy
      Carbon counter: heat pumps are a greener, costlier option Premium content

      Choice will be determined by the relative competitiveness of gas and power going forward

    • Friday, 27 January, 2023
      American Express Co
      Amex: big spending keeps plastic fantastic Premium content

      US shoppers continue to use their cards, but there are investor concerns over credit quality and higher funding costs

    • Friday, 27 January, 2023
      Retail sector
      Sainsbury’s/Bestway: stake deal may herald further collaboration Premium content

      Rising costs have put the squeeze on every part of food supply chains

    • Friday, 27 January, 2023
      Alan Livsey
      The Lex Newsletter: investors demand more from boring boards Premium content

      Plus, Dai Nippon Printing, Tullow Oil, Capricorn, News Corp, 3i

    • Friday, 27 January, 2023
      Semiconductors
      Semiconductor manufacturing equipment: Japanese makers weigh up cost of export controls Premium content

      China is vital market for lower-tech chip machinery makers such as Nikon and Tokyo Electron

    • Friday, 27 January, 2023
      Lex PopuliPersonal Finance
      Tullow Oil: the end of an era for exploration and production Premium content

      Group has declined from a £15bn behemoth to a small-cap stock

    • Thursday, 26 January, 2023
      Private equity
      Blackstone: Masters of the Universe feel humility Premium content

      The turmoil of 2022 and the disclosure of Breit redemptions have put the asset manager on the defensive

    • Thursday, 26 January, 2023
      Mastercard Inc
      Mastercard: payment plumbers make a very decent living Premium content

      They have little exposure to the risks from borrowers in hard times and benefit when consumers feel flush

    • Thursday, 26 January, 2023
      3i Group PLC
      3i: market discounts toppy valuation for European retail investment Premium content

      Shares in UK listed group increase 9% on Thursday

    • Thursday, 26 January, 2023
      Party City Corp
      Party City: volatile helium costs forces retailer to rethink its business Premium content

      Bondholders’ plan to swap debt for new equity will help insulate company from worst effects of price swings

    • Thursday, 26 January, 2023
      Technology sector
      Smartphones: better kit could depress long-term growth Premium content

      Extended ownership and less consumer Fomo is bad news for the entire sector

    • Wednesday, 25 January, 2023
      Alphabet Inc
      Google: DoJ opens new front in the battle to restrain oligopolies Premium content

      Search giant’s grip over online ad market has slipped

    • Wednesday, 25 January, 2023
      Rupert Murdoch
      News Corp: value-hunting minorities outFox the Murdochs Premium content

      The task now is to improve flagging valuation

    • Wednesday, 25 January, 2023
      Adani Group
      Adani: short seller reinforces concerns about group’s opacity Premium content

      Doubts were widely held even before Hindenburg Research intervened

    • Wednesday, 25 January, 2023
      Ascential Plc
      Ascential/WGSN: final unpicking of Emap’s baggy garment Premium content

      Cash from the sale of the fashion forecasting company will help fund expansion

    • Wednesday, 25 January, 2023
      US Treasury bonds
      US CDs/T-bills: glowing up in an era of higher rates Premium content

      Certificates of deposit are a sensible place to park your money at the moment

    • Wednesday, 25 January, 2023
      June Yoon
      The Lex Newsletter: South Korean banks just got interesting Premium content

      Timing is right for shareholders to extract better terms from local lenders

    • Tuesday, 24 January, 2023
      Aerospace & Defence
      Raytheon: rocket science easier than financial clarity Premium content

      Question marks over group’s response to supply-chain crunch and accounting reforms

    • Tuesday, 24 January, 2023
      Logitech International SA
      Logitech: homeworking trends fade for computer equipment maker Premium content

      Swiss-American company’s sales fell 22% year on year in the third quarter

    • Tuesday, 24 January, 2023
      War in Ukraine
      Tanks: Rheinmetall will gain as German leopard changes its spots Premium content

      A technology dating from 1916 remains a sweet spot for defence group

    • Tuesday, 24 January, 2023
      Capricorn Energy
      Capricorn/Palliser: cash worth more to market than oil explorers are Premium content

      A board that has failed to sell its assets twice deserves replacement

    • Tuesday, 24 January, 2023
      Dai Nippon Printing Co Ltd
      Dai Nippon Printing: Elliott’s value swoop relies on greater foil theory Premium content

      Activist investor is giving the Japanese manufacturer the publicity it badly needs

    • Monday, 23 January, 2023
      World
      US consumer finance: Ally Financial shows how a soft landing offers a springboard Premium content

      Lender is originating new auto loans at a yield around 10%

    • Monday, 23 January, 2023
      Oil & Gas industry
      EU/diesel: loss of Russian imports supportive for independent refiners Premium content

      Upcoming ban on distilled products may cause disruption but some will benefit

    Previous page You are on page 1 Next page

    Recommended

    LexLex is more
    Lex in-depth: the cost of America’s ban on Chinese chips
    News in-depthCryptocurrencies4 min
    Where crypto 'anarchy' will end | Lex Megatrends
    ExplainerClimate change
    Carbon counter: measuring individual choices
    Sign up to the Lex newsletter, for exclusive insight and analysis

    Useful links

    Support

    View Site TipsHelp CentreContact UsAbout UsAccessibilitymyFT TourCareers

    Legal & Privacy

    Terms & ConditionsPrivacy PolicyCookiesCopyrightSlavery Statement & Policies

    Services

    Share News Tips SecurelyIndividual SubscriptionsGroup SubscriptionsRepublishingExecutive Job SearchAdvertise with the FTFollow the FT on TwitterFT ChannelsSecondary Schools

    Tools

    PortfolioToday's Newspaper (ePaper)Alerts HubBusiness School RankingsEnterprise ToolsNews feedNewslettersCurrency Converter

    Community & Events

    FT CommunityFT Live EventsFT ForumsFT Board DirectorBoard Director Programme

    More from the FT Group

    Markets data delayed by at least 15 minutes. © THE FINANCIAL TIMES LTD 2023. 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
      • Global Economy
      • UK
      • US
      • China
      • Africa
      • Asia Pacific
      • Emerging Markets
      • Europe
      • War in Ukraine
      • Americas
      • Middle East & North Africa
      • Australia & NZ
    • US
      • US Economy
      • US Companies
      • US Politics & Policy
    • Companies
      • Energy
      • Financials
      • Health
      • Industrials
      • Media
      • Professional Services
      • Retail & Consumer
      • Tech Sector
      • Telecoms
      • Transport
    • Tech
    • Markets
      • Alphaville
      • Markets Data
      • Cryptofinance
      • Capital Markets
      • Commodities
      • Currencies
      • Equities
      • Fund Management
      • Trading
      • Moral Money
      • ETF Hub
    • Climate
    • Opinion
      • Columnists
      • The FT View
      • The Big Read
      • Lex
      • Obituaries
      • Letters
    • Work & Careers
      • Business School Rankings
      • Business Education
      • Entrepreneurship
      • Recruitment
      • Business Books
      • Business Travel
    • 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
    • Lex
    • Alphaville
    • Lunch with the FT
    • FT Globetrotter
    • #techAsia
    • Moral Money
    • FTfm
    • Newsletters
    • Video
    • Podcasts
    • News feed
    • FT Live Events
    • FT Forums
    • Board Director Programme
    • myFT
    • Portfolio
    • Today's Newspaper (ePaper)
    • Crossword
    • Our Apps
    • Help Centre
    • Subscribe
    • Sign In