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The brother of slain Afghan warlord Ahmad Shah Massoud has called on the Taliban to form an inclusive government following their recapture of the country, and warned of resistance if they refused. Ahmad Wali Massoud, one of a band of leaders holding out against the Taliban from their base in the Panjshir valley, raised the

Joe Biden pledged to evacuate every American trying to leave Afghanistan and insisted the botched US airlift was making “significant progress”, dismissing suggestions his administration had ignored warnings the Taliban would conquer Kabul at lightning speed. “This is one of the largest, most difficult airlifts in history,” said Biden in a televised address to the

The US Federal Trade Commission has refiled its antitrust complaint against Facebook, doubling down on its accusations that the social media group maintains monopoly power and uses a “buy or bury” strategy to neutralise competitors. Initially filed in December, the original lawsuit accused Facebook of conducting a “years-long course of anti-competitive conduct”, as it sought

The Taliban is rushing to work out how to govern Afghanistan after the militant Islamist group’s exiled leaders came back to a country that has changed profoundly since it was driven from power 20 years ago. While the Taliban has been setting up shadow governors and administrators to rule its conquered territory, the US has

The Biden administration scrambled to put a botched evacuation of Afghanistan back on track on Tuesday as it admitted its original plans needed to be changed following a day of chaos and violence at Kabul’s international airport. In an attempt to project competence after the Taliban swiftly took control of the country in the face

Afghans were bracing themselves for life under strict Islamic rule on Monday after the Taliban drove the US-backed government of Ashraf Ghani from power to establish control of Kabul. Thousands of residents filled the airport and throngs of people tried to push their way on to planes in a desperate effort to flee after the

Residents of Kabul, the capital of Afghanistan, are bracing for a potential onslaught after the Taliban seized more than half of the country’s provincial capitals and encircled the city. The insurgent group, which is seeking to impose a strict interpretation of Islamic law over the population, on Friday over-ran Puli Alam, the capital of eastern

Britain’s defence secretary has warned that Afghanistan risks descending into civil war and becoming a failed state as the Taliban captures large cities and gains ground in the wake of the hasty US troop withdrawal. The Islamist militia is now in control of Kandahar, Afghanistan’s second-biggest city, and Lashkar Gah in Helmand province after weeks

The Federal Reserve could start dialling back its ultra-accommodative monetary stimulus by the end of the year, given the strength of the economic rebound, according to a top official at the US central bank. In an interview with the Financial Times, Mary Daly, president of the San Francisco Fed, expressed confidence that the robust recovery

A British man working at the UK embassy in Berlin has been arrested on suspicion of passing information to the Russian intelligence services, German prosecutors said on Wednesday. The 57-year-old UK national, named only as David S, was arrested on Tuesday in Potsdam, a town to the south-west of Berlin, following a joint investigation by

SoftBank’s bets on an increasingly uncertain Chinese technology market have become the prime focus for shareholders as Masayoshi Son’s investment conglomerate reported a sharp drop in quarterly net profits. While listings of its portfolio companies helped the Japanese group’s flagship Vision Fund post a profit, the $100bn vehicle took a $6.3bn hit on nine of

The world is likely to temporarily reach 1.5C of warming within 20 years even in a best-case scenario of deep cuts in greenhouse gas emissions, a landmark report on climate change signed off by 234 scientists from more than 60 countries has concluded. Even with rapid emissions cuts, temperatures would continue to rise until “at

ByteDance, the owner of short-video app TikTok, has revived a plan to go public despite a widening regulatory assault targeting Chinese technology companies, aiming for a Hong Kong listing by early next year. The Chinese group, which raised about $5bn in December at a $180bn valuation, is planning to list in either the fourth quarter

WhatsApp has condemned Apple’s new child safety tools as a “very concerning . . . surveillance system”, even as governments around the world have cheered the decision to proactively search for illegal photos of child sexual abuse. The stand-off sets up a battle between other tech platforms and officials calling for them to adopt similar tools. An Indian government

Retail investors are scooping up funds that track Chinese stocks after sharp falls in recent weeks, marking a contrast to institutions that have remained more cautious as Beijing cracks down on key sectors. A US listed exchange traded fund, which holds big names such as Alibaba, Tencent, JD.com and Meituan, has attracted more than $2bn

Joe Biden will catapult his climate change agenda on Thursday by signing an executive order calling for half of all new vehicles sold in the US to be electric by 2030 as part of plans to slash transport emissions. The US president will announce the target as he lays out plans to reinstate and toughen

Employees of Archegos Capital Management face losses of about half a billion dollars after the value of a deferred pay plan set up by the firm crashed along with its other investments. The family office run by Bill Hwang is yet to release money it owes to former employees, who saw the value of their

Tencent has announced new restrictions limiting how long minors can play its online games after the Chinese internet group came under intense pressure from state media, which labelled the gaming industry a “spiritual opium”. In a social media post, the company said it was introducing the measures after “relevant authorities” requested greater protection of minors

House prices are booming in almost every major economy in the wake of the coronavirus pandemic, forging the broadest rally for more than two decades, and reviving economists’ concerns over potential threats to financial stability. Of the 40 countries covered by OECD data, just three experienced real-terms house price falls in the first three months

A leading US bond manager has warned of inflationary pressure from housing rental costs that could push interest rates higher and overturn a sense of complacency among investors. The comments by Dan Ivascyn, chief investment officer at Pimco, which has $2.2tn under management, comes after US 10-year interest rates eased in recent months to about

China-based companies will have to disclose more about their structure and contacts with the Chinese government before listing in the US, the Securities and Exchange Commission said on Friday. Gary Gensler, the chair of the US corporate and markets regulator, has asked staff to ensure greater transparency from Chinese companies following the controversy surrounding the

Chinese technology stocks listed in the US are set for their worst month since the global financial crisis after global investors dumped shares following a regulatory crackdown by Beijing. The Nasdaq Golden Dragon China index, which tracks Chinese tech stocks listed in New York, has fallen 22 per cent in July, putting it on course

China’s securities regulator has sought to ease concerns among international investors and banks after tough new restrictions on private education companies sent shockwaves through markets. Regulators in Beijing held a call with executives from global investors, Wall Street banks and Chinese financial groups on Wednesday night, according to three people familiar with the matter. One

Apple, Microsoft and Alphabet said on Tuesday that their latest revenues and earnings had surged above the stock market’s already optimistic expectations, confirming that demand for their digital services and gadgets continued to soar as some countries began to emerge from the pandemic. Apple Apple’s profits almost doubled in its latest quarter to $21.7bn, as

Multimillion-euro fines can force Big Tech companies to change their behaviour, despite their deep pockets, the president of the French Competition Authority has argued. Isabelle de Silva said she did not believe sanctions could be played down as merely “the cost of doing business”, breaking away from the consensus in the EU, where competition officials

The British government is exploring ways to remove China’s state-owned nuclear energy company from all future power projects in the UK, including the consortium planning to build the new £20bn Sizewell nuclear power station in Suffolk, according to people close to the discussions. The change in mood at the top of government also affects proposals

The lending businesses of large US banks are doubling down on wealthier customers, as well-to-do Americans borrow to buy second homes, invest in the stock market and potentially lighten their tax bills. The combined value of loans made by the wealth management arms of JPMorgan Chase, Bank of America, Citigroup and Morgan Stanley surpassed $600bn

US stocks ended Friday at a new high, reversing steep losses at the start of the week, as fears about the Delta variant of coronavirus were soothed by strong corporate earnings and continued central bank support for financial markets. The S&P 500 climbed 1 per cent, lifting the index’s weekly gain to 2 per cent

Supply disruptions, a drought in China and rebounding electricity demand have fired up the market for thermal coal, making the world’s least liked commodity one of this year’s best-performing assets. Since the start of the year, the price of high energy Australia coal — the benchmark for the vast Asian market — has climbed 80

Global investment banks are racing to redirect Chinese groups’ initial public offerings towards Hong Kong after new cyber security rules instituted by Beijing halted lucrative tech listings previously heading for New York. About 20 Chinese companies had publicly disclosed plans to raise $1.4bn from share sales in New York this year, Dealogic data showed. But