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Carlsberg has warned it will book a $1.4bn writedown from the sale of its Russian business as part of the exodus of western companies following Moscow’s invasion of Ukraine. The Danish group, which owns Russia’s biggest beer brand Baltika, has more exposure to the market than any other international brewer, earning 9 per cent of
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Choppy waters distance Chinese business from western capital. Cnooc, a driller in the contested South China Sea, embodies that gulf. The US expelled China’s biggest offshore oil and gas producer from the New York stock market in 2021, deeming it a security threat. Cnooc’s politicised status invites scepticism from international investors, despite a triumphant homecoming
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The world’s biggest alternative asset manager Blackstone Group expects less dealmaking this year because of high inflation, rising interest rates and geopolitical uncertainty. “It’s hard to predict deal activity, although I would expect it to be lower than last year,” Blackstone’s president Jonathan Gray told the Financial Times. A record $5.8tn in mergers were agreed
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One thing to start: I highly recommend checking out this interactive break down of Europe’s efforts to wean itself off of Russian gas. Welcome back to Energy Source after the short break! A world desperate for more oil is going to be paying a lot more to get it out of the ground, I report
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Nestlé pushed up prices for its products by more than 5 per cent in the first three months of the year, in the latest sign of steep commodity inflation feeding through to consumer prices for branded goods. The world’s largest food company said on Thursday it had increased pricing by 5.2 per cent in the
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This is Lauly Li in Taipei, covering the tech industry’s hardware supply chain, from semiconductors to smartphones to EVs. My fellow tech correspondent Cheng Ting-Fang and I have seen some incredible changes over the past four years. I remember back in March 2018, the chairman of a key Apple supplier told me it would be
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This is an audio transcript of the Rachman Review podcast episode: Le Pen, patriots and the anti-globalist movement [MUSIC PLAYING] Gideon RachmanHello and welcome to the Rachman Review. I’m Gideon Rachman, chief foreign affairs commentator of the Financial Times. This week’s edition comes from France, where I’ve been following the presidential election. It’s now a
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The carbon emissions of JBS, the world’s largest meatpacking company, soared more than 50 per cent in the past five years, according to new research that lays bare the challenge of reducing greenhouse gases in the global food industry. The study by several environmental groups suggested that the São Paulo-headquartered company released 421.6mn metric tonnes
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Goldman Sachs chief executive David Solomon met billionaire FTX founder Sam Bankman-Fried in March to discuss forging closer ties between the Wall Street bank and the barely three-year-old cryptocurrency exchange valued at $32bn. The meeting, which took place in the Caribbean, according to people familiar with the matter, is the latest sign of the growing
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The writer is managing director at McLarty Associates, non-resident senior fellow at the Atlantic Council and author of ‘Henry Kissinger, l’Européen’  Whoever wins Sunday’s presidential election in France will have to reorient the country’s foreign policy in fundamental ways. This is because two significant and ongoing shifts are in the process of transforming the EU.
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