FirstFT: Norwegian oil fund denounces ‘corporate greed’ over executive pay

Good morning. This article is an on-site version of our FirstFT newsletter. Sign up to our Asia, Europe / Africa or Americas edition to get it sent straight to your inbox every weekday morning How well did you keep up with the news this week? Take our quiz. The world’s largest sovereign wealth fund has […]

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European shares steady after steepest slide for global stocks since 2020

European stocks recovered some of their losses on Tuesday after economic growth fears drove the steepest drop for global equities since June 2020. The regional Stoxx 600 gauge rose 0.8 per cent, having dropped 2.9 per cent on Monday. London’s FTSE 100 added 0.7 per cent, with buyout group Melrose Industries, industrial software company Aveva […]

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Soaring dollar raises specter of ‘reverse currency wars’

The surging dollar has prompted some analysts and investors to forecast a new period of “reverse currency wars” as many central banks abandon a longstanding preference for weaker exchange rates. The new dynamic marks a departure from the period of low inflation that followed the 2007-09 global financial crisis, when historically low interest rates and […]

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Fed expected to deploy first half-point rate rise since 2000

The US Federal Reserve is expected to raise its benchmark policy rate by half a percentage point for the first time since 2000 and formalize plans to shrink its $ 9tn balance sheet, as it embraces a more aggressive approach to tackling elevated inflation. At the end of its two-day policy meeting on Wednesday, analysts […]

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China meets banks to discuss protecting assets from US sanctions

Chinese regulators have held an emergency meeting with domestic and foreign banks to discuss how they could protect the country’s overseas assets from US-led sanctions similar to those imposed on Russia for its invasion of Ukraine, according to people familiar with the discussion. Officials are worried the same measures could be taken against Beijing in […]

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Pound slides to weakest level since 2020 as British retail sales fall

Sterling dropped to its weakest level since late 2020 after a sharp drop in British retail sales underlined the depths of the cost of living crisis fueled by surging inflation. The volume of retail sales in Great Britain fell 1.4 per cent, the Office for National Statistics said, worse than the 0.3 per cent drop […]

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