Author: James Harden

Dan ChungCourtesy: Fred Alger ManagementDaniel Chung, the CEO and chief investment officer at investment firm Fred Alger Management, survived the Sept. 11 attacks on the World Trade Center by chance. That morning a quarter century ago, the then-tech analyst started his day at the Intercontinental Hotel in Midtown Manhattan, searching for answers on why a key stockholding hadn’t been performing well. The company’s chief executive was set to make a presentation that day. “I was running late, so I went straight to the meeting,” Chung said. “The meeting starts. CEO walks out. He’s barely started, and somebody comes from, I guess, the…

German Chancellor Friedrich Merz (R) talks to UAE President Sheikh Mohamed bin Zayed Al-Nahyan at the Chancellery in Berlin on September 10, 2026. (Photo by RALF HIRSCHBERGER / AFP via Getty Images)Ralf Hirschberger | Afp | Getty ImagesThe United Arab Emirates plans to invest 40 billion euros ($46.4 billion) in Germany as the two countries deepen their economic ties, with data center infrastructure forming a key part of the investment. The investment was announced during a state visit to Germany this week by UAE President Sheikh Mohamed bin Zayed Al Nahyan, who met with German Chancellor Friedrich Merz.It spans areas including…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Buy-to-let investors in England are absorbing the biggest legal changes to the relationship between landlords and tenants in a generation after the Renters’ Rights Act came into force in May. FT Money would like to hear from landlords and tenants who have experienced an impact — good or bad — from the legislation, which comes at a time when their yields have been under pressure from higher mortgage rates. The Act has done away with the option of no-fault evictions and, until a new…

Soaring energy costs are creating a fresh pressure point for private credit borrowers already facing higher interest costs and a steep refinancing wall, private market specialists say.U.S. West Texas Intermediate futures were trading at $99.02 a barrel at 6:35 a.m. E.T. Friday, down 3.4%, while Brent crude, the global price benchmark, was at $103.64, a 3.7% dip. Oil’s rise comes amid growing speculation over a Federal Reserve interest rate hike at its Sept. 15-16 meeting as inflation remains above its 2% target. A rise in borrowing costs is particularly relevant for private credit, where direct lending loans are typically floating-rate…

An employee looks out over oil transport pipelines on the Arabian Sea in Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Ras Tanura, Saudi Arabia.Simon Dawson | Bloomberg | Getty ImagesThe Iran and Ukraine wars are adding pressure to an oil refining system “stretched to the limit,” the International Energy Agency warned Friday, as it once again cut its global supply and demand forecasts amid the ongoing energy shock.In its closely monitored monthly oil report, the IEA further cut its global oil supply and demand projections for the remainder of the year, warning that a full recovery in…

Stay informed with free updatesSimply sign up to the Russian politics myFT Digest — delivered directly to your inbox.Russian President Vladimir Putin will push lucrative business and defence deals with ally India at the Brics summit this weekend, where the Kremlin chief will meet friendly leaders from the global south and escape his isolation from the west.Putin arrived in New Delhi early on Friday, making his first in-person appearance at a Brics summit outside Russia since Moscow’s full-scale invasion of Ukraine in 2022. He was due to meet Indian Prime Minister Narendra Modi on Friday afternoon, as well as the…

Fighters loyal to the Houthi authorities, shouts slogans during a rally to recruit more fighters, in Sanaa on September 10, 2026.Mohammed Huwais | Afp | Getty ImagesThe Iran-backed Houthi militant group has seized control of Yemen’s port city of Mokha on the Red Sea coast, bringing Tehran closer to securing another point of leverage in its six-month-long conflict with the U.S.The Houthis’ capture of Mokha is regarded as a severe setback to Saudi Arabia and the Yemeni forces it backs. It could also increase Iranian pressure around two critically important oil choke points on either side of the Arabian Peninsula:…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Reform UK’s candidate for mayor of London said the previous Conservative government “should have borrowed and borrowed and borrowed” more money, despite promises by her party to rein in spending if it wins power. Laila Cunningham told an event in July that the Tories should have borrowed far more to build up the country’s infrastructure when interest rates were low, including funding the proposed Crossrail 2 project, according to a recording of her remarks obtained by the FT.This rail line development was…

Stay informed with free updatesSimply sign up to the Global migration myFT Digest — delivered directly to your inbox.Spain’s lower house has endorsed a law granting citizenship to tens of thousands of people born in western Sahara, a move likely to anger Morocco, which claims sovereignty over the disputed territory.If confirmed by the Senate, the initiative risks adding a fresh strain to relations already tested after more than 70,000 migrants swam from Morocco to Spain’s north African exclave of Ceuta. The bill was adopted on Thursday with 168 votes in favour, 31 against, while 145 lawmakers abstained.It was put forward…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.I blame Angela Merkel. In the early 2010s, the former German chancellor was fond of saying that Europe accounts for 7 per cent of the world’s population, 25 per cent of its GDP and 50 per cent of its social spending. She would wield these statistics to warn about the effects of a bloated welfare state on Europe’s competitiveness. Ever since, an army of armchair philosophers has accused Europeans of being work-shy layabouts, degenerately dependent on welfare instead of doing an honest…