Melvin Capital, the highest-profile hedge fund casualty from last year’s meme-stock rally, has rapidly backtracked on a controversial plan to start charging performance fees again in the face of an investor backlash. The US-based firm, which lost 53 per cent in January last year after betting against retail investor favourite GameStop, had written to investors
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Emmanuel Macron is set to be re-elected for a second term as French president after defeating his far-right rival Marine Le Pen in the second round of voting on Sunday, according to projections by polling agencies based on early returns. Victory for the liberal internationalist Macron, first elected in 2017, will mean continuity in economic
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One thing to start: Join us on April 26-27 for the FT’s first Crypto and Digital Assets Summit. Register today at: ft.com/cryptosummit James Anderson on Bezos, Musk and Zola James Anderson first came to Bologna as a postgraduate student at the European campus of Johns Hopkins University. Back then he was fresh out of Oxford
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Good morning and welcome to Europe Express. There was a quick and near-audible sigh of relief last night among European leaders as French exit polls came in, confirming Emmanuel Macron’s second term as president. The feeling of Europe dodging a seismic populist upheaval — even as Marine Le Pen scored more votes than last time
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Good morning. Friday was horrific for markets — US indices down 2.5 per cent or worse — but not surprising. The markets are telling an increasingly if not completely consistent story. If we’re missing something, email us: robert.armstrong@ft.com and ethan.wu@ft.com.  What happened and why Sometimes the simplest story is the best. The US stock market
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Russia’s invasion of Ukraine looks increasingly likely to lead to Finland and Sweden applying to join Nato. But whereas Helsinki appears to be doing so with something resembling gusto, Stockholm is inching towards the western military alliance more reluctantly. As early as December and January, Finnish politicians started a national debate across party lines on
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It is more than 30 years since Robert Maxwell’s body was found at sea, but many remain fascinated by him. A new biography, Fall: The Mystery of Robert Maxwell, by John Preston, published last year, brings the number of books about the late publishing magnate to at least 12. A three-part BBC series, House of
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We all deserve to have a day at work without having the fear of God put into us. Which is why one of the most striking recent examples of “a bad day at the office” remains alarmingly fresh in my memory, almost two months on. “Say what you mean,” snapped Vladimir Putin at Sergei Naryshkin,
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Meet the most powerful iPad ever I love an iPad. For the past year, I’ve used the Air 4 (released in 2020) as a laptop lite. I enjoy the ease of slinging the Air – which sits between the Mini and basic iPads, and the Pro – into my tote and sliding it out in cramped cafés.  So the release of
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We’ve been writing about the international monetary system for long enough to be somewhat dubious about oft-repeated claims of the dollar’s demise. Sure, we can see why the greenback ought to be dethroned. The US is no longer the economic power it once was, inflation’s at multi-decade highs, and now Washington has frozen hundreds of
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