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Wagner fighters made a makeshift memorial for their founder Yevgeny Prigozhin in St Petersburg on Thursday as the Kremlin maintained its silence on the warlord’s apparent demise in a plane crash. Supporters of Prigozhin, who is listed among the passengers of a private jet that crashed north-west of Moscow on Wednesday, killing all aboard, mourned

An aircraft said to be carrying notorious warlord Yevgeny Prigozhin, whose Wagner group launched a failed mutiny in June, has crashed on a flight from Moscow to St Petersburg, according to Russian officials. All 10 people on the plane, including three crew members, died in the crash, Russia’s emergency ministry said, according to state newswire

Prospective investors in Arm’s initial public offering have raised concerns over the UK chip designer’s exposure to China, after the company warned of “significant risks” in the country. Managers at four separate funds considering an investment in Arm told the Financial Times that the prospectus for the planned listing on Nasdaq in September confirmed some

SoftBank-owned chip designer Arm has started the final countdown to the biggest US initial public offering in almost two years, filing a preliminary prospectus for a Nasdaq listing that is set to take place early next month. Arm is on track to be the most valuable company to complete a US IPO since at least

Asking prices for UK homes recorded their sharpest August drop since 2018, in another sign that the property market is slowing after four consecutive months of house price falls. New sellers listed their homes for £364,895 on average in the five weeks to August 12, £7,012 less than in the previous month, representing the biggest

China is expected to make the biggest cuts this year to two of its core lending rates, as pressure mounts on policymakers and banks to reverse a trend of slowing momentum and revive flagging demand in the world’s second-biggest economy. The People’s Bank of China is set to announce reductions to both one-year and five-year

The leaders of Japan and South Korea on Friday put decades of frequently acrimonious relations behind them, signing on to a trilateral pact with the US that will deepen military and intelligence co-operation between the three allies. The agreement, formally reached at President Joe Biden’s retreat at Camp David outside Washington, sets up annual summits

China’s central bank has stepped up defence of its currency as concerns mount over the health of the world’s second-largest economy. The efforts by the People’s Bank of China to arrest a slide in the renminbi follow a series of gloomy economic data releases this week that showed weakening exports and waning consumer confidence. Foreign

Foreign investors have dumped Chinese stocks and bonds after losing confidence in Beijing’s promises of more help to shore up the country’s wobbling economy. Financial Times calculations based on data from Hong Kong’s Stock Connect trading scheme show that investors have almost completely reversed Rmb54bn ($7.4bn) in net purchases of Chinese equities that followed a

Lower gas and electricity prices drove a sharp drop in UK inflation to 6.8 per cent in July from 7.9 per cent the previous month, the lowest rate of price increases since February last year.  The figure met economists’ expectations and will come as a modest relief after wage data on Tuesday was surprisingly strong, highlighting the work

UK wages grew much more than expected in the three months to June, according to official figures that are likely to reinforce policymakers’ concerns over the pressures fuelling inflation.  In April to June, annual growth in regular pay, which excludes bonuses, was 7.8 per cent, the highest regular annual growth rate since comparable records began

US Steel, a corporate vestige from the era of American industrialists Andrew Carnegie and JP Morgan, has put itself up for sale, saying on Sunday it has hired financial advisers to evaluate bids for the company. The company said it has already received multiple unsolicited bids that ranged from the possible acquisition of the whole

The era of cheap streaming is ending, as Hollywood’s largest studios turn the screws on customers with price rises that rival the expensive cable television “bundle” consumers began ditching for Netflix 15 years ago. A basket of the top US streaming services will cost $87 this autumn, compared with $73 a year ago, as Disney,

Saudi Arabia is pushing the UK, Japan and Italy to allow it to become a full partner in the landmark next-generation fighter jet project that the three countries signed in December. The request, confirmed by five senior officials in London, Tokyo and Rome, has already created strains within the tri-national alliance. While the UK and

US inflation in July is expected to have risen at roughly the same pace as in June, suggesting that price pressures in the world’s biggest economy are continuing to ease and strengthening the case for the Federal Reserve to hold interest rates steady at its next meeting in September.  The consumer price index (CPI) is

European natural gas prices surged almost 40 per cent on Wednesday as the potential for disrupted global liquefied natural gas supply from Australia spooked traders betting on further declines. Prices on the Title Transfer Facility (TTF), the European benchmark, rose to more than €43 per megawatt hour, up from almost €30 on Tuesday, reaching its

Google and Universal Music are in talks to license artists’ melodies and voices for songs generated by artificial intelligence as the music business tries to monetise one of its biggest threats. The discussions, confirmed by four people familiar with the matter, aim to strike a partnership for an industry that is grappling with the implications

A UK bank serving 14,000 charities has announced £15mn in fresh debt funding from its owner after reporting steep paper losses on the value of its bond holdings. CAF Bank said on Monday it had struck a deal with the Charities Aid Foundation, the UK’s largest charity by income, to cover the shortfall that the

US government scientists have achieved net energy gain in a fusion reaction for the second time, a result that is set to fuel optimism that progress is being made towards the dream of limitless, zero-carbon power. Physicists have since the 1950s sought to harness the fusion reaction that powers the sun, but until December no