Author: James Harden

In this pool photograph distributed by the Russian state agency Sputnik, Russia’s President Vladimir Putin attends a meeting with Russian consumer rights watchdog Rospotrebnadzor head in Moscow on September 15, 2026.Vyacheslav Prokofyev | Afp | Getty ImagesRussian President Vladimir Putin is bracing for a wartime reckoning as the Kremlin prepares to hold its first parliamentary election since the country’s full-scale invasion of Ukraine in early 2022. The tightly controlled vote, which takes place over a three-day period from Friday to Sunday, is widely expected to shore up the dominance of the ruling United Russia party in the 450-seat State Duma,…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Turkish authorities have frozen trading in funds run by seven asset managers and ordered 130 funds to be liquidated, as part of efforts to contain the fallout from a speculative bubble that has shaken the Istanbul stock market and threatened the savings of thousands of investors.The central bank also loosened access to lira liquidity to prevent forced selling, a state-owned bank opened talks to buy two savings-finance companies linked to the turmoil, and the capital markets regulator referred 38 people to prosecutors…

Canadian Prime Minister Mark Carney delivers a speech in the hemicycle of the European Parliament in Strasbourg, eastern France, as part of a trip during which he welcomed a proposal by European Commission President for Canada to become the EU’s first associate member, on September 17, 2026.Jean-christophe Verhaegen | Afp | Getty ImagesCanadian Prime Minister Mark Carney on Thursday welcomed the European Union’s ambition to make Ottawa an associate member of the 27-nation bloc and said Canadian lawmakers would ultimately vote on the final structure of the alliance. “Canada and Europe are each strong. Europe and Canada are stronger together,”…

Kevin Warsh, chairman of the US Federal Reserve, and Andrew Bailey, governor of the Bank of England at the Jackson Hole Economic Symposium in Moran, Wyoming, on Aug. 28, 2026.David A. Grogan | CNBCThe Bank of England left interest rates unchanged on Thursday, despite inflation rising well above its 2% target, but warned a hike was becoming increasingly likely. The central bank’s Monetary Policy Committee voted 6-3 to hold the Bank Rate at 3.75%. The three dissenters voted to enact a hike of 25 basis points to 4%. Markets had been pricing in a 76% chance that the bank will…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The EU has asked China to voluntarily restrict exports of hybrid cars as part of a deal to prevent a trade war, as tensions between the two sides increase ahead of crunch meetings next month in Beijing. European carmakers are making mass lay-offs as cheaper models made in China flood the market and Brussels wants Beijing to rein in its industry or face higher tariffs, three people familiar with the situation told the FT. “If they will not limit their exports to our market…

Berlin opposes fast track to EU ‘associate membership’ for Canada, with officials warning Ottawa risks angering other partners Source link

U.S. President Donald Trump speaks to members of the press as he arrives at Charlotte Douglas International Airport, in Charlotte, North Carolina, U.S., Sept. 16, 2026.Kevin Lamarque | ReutersPresident Donald Trump on Wednesday threatened to impose tariffs on the European Union or halt trade with the bloc entirely if it proceeds with its plan to make Canada its first-ever “associate member.” “I think it’s laughable … Canada has been a terrible trade partner,” Trump told reporters after landing in North Carolina. He conditioned his threat on the intention of European leaders, saying that “if I think it’s at all a…

The Federal Reserve should have hiked rates by more on Wednesday instead of a just a quarter point, according to Jeff Gundlach, founder of DoubleLine.”I would have called that stun and done,” Gundlach said Wednesday on CNBC’s “Closing Bell,” a play on the term “one and done” referring to the belief by some that the Fed may only do one or two hikes instead of embarking on a tightening cycle.Gundlach, one of the most prominent bond investors, said a half-point hike would have provided the market with a “truing up” to the Fed funds rates.The 2-year Treasury rate was more…

Corporate debt issued by the giant cloud computing players powering the artificial intelligence boom is getting riskier, private equity firm Apollo Global Management warned on Wednesday.Risk insurance contracts, known as credit default swaps (CDS), for bonds issued by hyperscalers are getting pricier, and it’s not because banks are hedging more of their bets as bond issuance climbs, Apollo chief economist Torsten Slok wrote in a Wednesday note.”What the market is repricing is hyperscaler credit fundamentals, namely a debt-financed AI capex cycle with rising leverage, negative free cash flow and uncertain payback on depreciating assets,” Slok wrote.If dealer hedging of new…

The biggest trade in options on the Cboe VIX Index Tuesday was an unusual $6 million purchase of deep, deep in-the-money-puts that might be an unusual interest-rate play ahead of Wednesday’s highly-anticipated Federal Reserve rate decision.Around 10 a.m. Chicago time, someone purchased 563 110-strike VIX puts expiring Oct. 21 for $5.1 million, as well as $1.2 million of the 130-strike puts expiring Nov. 18, the scheduled release date for next month’s FOMC minutes. Not only was the premium more than any other single trade on the day, the choice to use extremely options so deep in the money – the…