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De La Rue, the FTSE 250 currency maker, has warned that full-year profit would be below market expectations after falling to a loss in the first half. The British banknote printer said on Wednesday that it now expected full-year adjusted operating profits to be between £30mn-33mn, lower than analyst estimates of about £36mn, after booking

Senior Walt Disney executives led a rebellion against chief executive Bob Chapek in recent weeks, which resulted in his ousting and replacement with predecessor Bob Iger, according to people familiar with the matter. The covert campaign to overthrow Chapek, which began in the summer, came after the outgoing chief executive lost the confidence of some

Bob Iger, who served as Disney chief executive for 15 years, has replaced successor Bob Chapek after a rocky tenure that lasted just 33 months. Iger, who handpicked Chapek as his successor only to see the relationship quickly sour, will serve another two years in the job that made him one of the world’s most

The likelihood that the eurozone will fall into a deep recession this winter is receding according to economists who have scaled back their projections as greater fiscal support from governments, lower gas prices and a mild autumn help to improve the bloc’s outlook. Most forecasters still expect eurozone output to contract in the coming quarters.

UK chancellor Jeremy Hunt confronted a backlash from Tory MPs angry at a new era of high taxation even as the IMF hailed his efforts to restore the country’s fiscal credibility. On a day that two leading think-tanks said that high taxes had arrived for good and that wages were set for their most prolonged

British households are set for the steepest fall in living standards on record and the highest tax burden since the second world war after Jeremy Hunt laid out plans to cut public spending and raise revenue to fill a £55bn fiscal hole. The chancellor told a sombre House of Commons that a massive fiscal consolidation,

Jeremy Hunt, chancellor, will on Thursday seek to restore Britain’s tarnished economic reputation with a massive package of tax rises and spending cuts intended to repair the public finances and tame inflation. “We will face into the storm,” he will say. Hunt’s Autumn Statement will intensify the financial hardship facing millions of Britons and begin

A missile that killed two people in Poland near the border with Ukraine was “unlikely” to have been fired from Russia, US president Joe Biden said after an emergency meeting with western leaders on the sidelines of the G20 summit in Bali, Indonesia. Poland has convened emergency talks with its Nato allies after what Warsaw

World leaders will state that today’s era “must not be of war” and will condemn threats to use nuclear weapons at the G20 summit in Bali, reflecting rising global anxiety around Russia’s war against Ukraine. A draft communiqué agreed by diplomats, seen by the Financial Times and confirmed by two delegations, said: “Most members strongly

Chancellor Jeremy Hunt is planning a big package of spending cuts and tax increases in Thursday’s Autumn Statement after being warned that UK public borrowing will be about £70bn larger than expected. The Office for Budget Responsibility estimates that a worse economic outlook will raise government borrowing close to £100bn in 2026-27, according to an

Sam Bankman-Fried’s main international FTX exchange held just $900mn in easily sellable assets against $9bn of liabilities the day before it collapsed into bankruptcy, according to investment materials seen by the Financial Times. The largest portion of those liquid assets listed on a FTX international balance sheet dated Thursday was $470mn of Robinhood shares owned

FTX, the once high-flying cryptocurrency group, has filed for bankruptcy protection in the US, marking a stunning collapse of the $32bn empire built by the colourful 30-year-old entrepreneur Sam Bankman-Fried. The filing in Delaware federal court on Friday included the main FTX international exchange, a US crypto marketplace, Bankman-Fried’s proprietary trading group Alameda Research and

US stocks roared ahead on Thursday in their strongest day in more than two and a half years, with investors emboldened by inflation data that showed decelerating increases in consumer prices and set the stage for a slower pace of interest rate rises by the Federal Reserve. Wall Street’s benchmark S&P 500 index gained 5.5

Binance will abandon its deal to rescue Sam Bankman-Fried’s FTX cryptocurrency exchange, citing concerns about its business practices and investigations by US financial regulators. The move comes a day after Binance, one of the world’s largest crypto trading venues, tentatively agreed to buy FTX after it suffered a liquidity crunch. “As a result of corporate

The economy and inflation are among top issues in the midterm elections, and voters are expected to favour Republicans to improve the economy, according to recent polling data. And while those subjects are top of mind for many voters, issues such as abortion rights and threats to democracy are also driving Americans to the polls.

Jeremy Hunt is planning a stealth raid on inheritance tax in the Autumn Statement as part of the chancellor’s attempt to raise about £54bn through tax rises and spending cuts to fill a hole in the UK public finances. Government officials said Hunt was drawing up plans to extend a freeze in the inheritance tax

The US is working on a plan to harness cash from the world’s largest companies to help developing countries cut their use of fossil fuels, an idea it aims to unveil at the UN climate summit this week. US president Joe Biden’s climate envoy John Kerry is trying to marshal support from other governments, companies

US oil producers have raked in more than $200bn in profits since Russia’s invasion of Ukraine as they cash in on a period of geopolitical turmoil that has shaken up the global energy market and sent prices soaring. Aggregate net income for publicly listed oil and gas companies operating in the US came to $200.24bn

Elon Musk has begun to slash Twitter’s 7,500-strong workforce as the social media platform’s new billionaire owner warned of a “massive drop in revenue” following his contentious $44bn buyout of the group. As Musk embarks on the cost-cutting cull, he claimed on Friday that Twitter “has had a massive drop in revenue, due to activist

The Bank of England has signalled that borrowing costs will not rise as much as markets expect in the future, even as it imposed the biggest rate rise for three decades to combat soaring inflation. The BoE’s 0.75 percentage point increase to 3 per cent took interest rates to their highest point since 2008. But