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A new lender has been granted a licence by UK financial regulators to offer mortgages with fixed rates of up to 50 years in a move aimed at helping borrowers manage soaring inflation. Perenna, a UK-based specialist lender, is initially planning to provide home loans that lock in rates for 30 years, before rolling out
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US lawmakers demanded more information on the potential threat to national security posed by Donald Trump’s hoarding of classified documents, as the fallout from the unprecedented search at the home of the former president reverberated through Washington. The requests and comments by Democrats and Republicans on Sunday were among the first reactions from Congress to
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Donald Trump is under investigation for potentially mishandling information related to US national defence in violation of the Espionage Act, along with other possible violations related to the handling of government documents, according to the FBI’s warrant to search the former president’s home. The search of Trump’s Mar-a-Lago estate on Monday, which triggered a fierce
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Liz Truss is facing an early fight with the Bank of England if she becomes the next UK prime minister after signalling she will give ministers powers to override City regulators seen to be holding back post-Brexit reforms. The foreign secretary has vowed to press ahead with a law allowing ministers to “call in” regulatory
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The UK government’s Covid-19 venture capital fund has been mostly invested in what one director overseeing the portfolio called “zombie businesses”, leaving it with “a significant tail of dormant companies”, according to documents seen by the Financial Times. The Future Fund, a £1.1bn portfolio set up by then-chancellor Rishi Sunak and managed by the state-owned
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Western capitals are increasingly alarmed about the deepening economic co-operation between Turkey’s president Recep Tayyip Erdoğan and Vladimir Putin, warning of the mounting risk that the Nato member state could be hit by punitive retaliation if it helps Russia avoid sanctions. Six western officials told the Financial Times that they were concerned about the pledge
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Nancy Pelosi, Speaker of the US House of Representatives, plans to meet Taiwan’s president Tsai Ing-wen on Wednesday, in a controversial visit that has triggered concern about a possible military response from China. Three people familiar with the situation said Pelosi would meet Tsai in Taipei as part of a wider visit to Asia that
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Foreign investors have pulled funds out of emerging markets for five straight months in the longest streak of withdrawals on record, highlighting how recession fears and rising interest rates are shaking developing economies. Cross-border outflows by international investors in EM stocks and domestic bonds reached $10.5bn this month according to provisional data compiled by the
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The US economy shrank for a second consecutive quarter, meeting one of the common criteria for a technical recession and complicating the Federal Reserve’s push to stamp out soaring inflation with a string of aggressive rate rises. Data published by the commerce department on Thursday showed gross domestic product fell 0.9 per cent on an
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Volkswagen’s chief executive Herbert Diess, the architect of the German carmaker’s multibillion-euro push into electric vehicles, will leave the company within weeks after being forced out by union leaders and shareholders. The 63-year-old, who took over in the years following the VW emissions scandal, will be replaced by Porsche chief executive and former VW manager