Scientists in China have solved a 140-year-old chemistry problem in a breakthrough that could overturn traditional production methods and slash the cost of cancer treatments and other expensive medicinal compounds. Advertisement The research was co-led by Zhang Xiaheng, from the Chinese Academy of Sciences’ Hangzhou Institute for Advanced Study, and Xue Xiaosong, a professor with the Shanghai Institute of Organic Chemistry, and published in the peer-reviewed journal Nature. In his review of the paper, Scott Bagley, a senior principal scientist at Pfizer, described it as a “tour de force”, while…
Day: November 9, 2025
ANZ slashes $19mn of executive bonuses after bond scandal
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Australian bank ANZ Group has cancelled more than A$30mn ($19mn) of executive bonuses as chief Nuno Matos pushes forward with a sweeping overhaul of the lender. The bank said in its annual report released on Monday that 2025 had been an “eventful and challenging year” as it adjusted the pay packages of top executives to reflect regulatory settlements and a drop in profits. Former chief executive Shayne Elliott gave up…
‘Not in this economy’: why Guangdong is struggling to tempt consumers to spend
In early November, China’s most populous province launched its biggest ever consumer subsidy programme, with the government pledging to commit 3.5 billion yuan (US$492 million) to offer discounts on a slew of products: from smartphones to snowboards. Advertisement Guangdong’s scheme is the latest attempt by Chinese authorities to use consumption vouchers to boost domestic spending – a campaign that is key to China’s efforts to shore up growth and rebalance its economy amid the ongoing US trade war. But on the ground, the huge new programme has received a tepid…
How an idea to zap mosquitoes led to Australia’s most valuable defence stock
Stay informed with free updates Simply sign up to the Aerospace & Defence myFT Digest — delivered directly to your inbox. Australia’s most valuable listed defence company began as the brainchild of two American scientists who originally planned to create a mosquito-zapping laser system for bedrooms. Eleven years on, a pivot from the threat of small insects to that of small drones appears to have paid off. DroneShield, which develops anti-drone systems that have been used on the front lines of Ukraine, is the S&P/ASX 200 index’s best-performing stock this…
How China’s ‘emotional spending’ trend is transforming shopping malls
In a central Wuhan shopping centre, a banner for a new Pop Mart hangs where an Air Jordan store once stood. When the store famous for the wildly popular Labubu figures opens early next year, it will sit next to a Tiffany & Co boutique and across from a Prada shop on the ground floor – space traditionally reserved for high-end purveyors of apparel, jewellery and cosmetics. Advertisement The mall in the capital of central China’s Hubei province is not an isolated case. Pop Mart and fellow makers of collectible…
Silkpunk creator Ken Liu takes on AI, modernity and what it means to be American
Ken Liu is an American science fiction and fantasy writer whose prize-winning work includes the Silkpunk epic The Dandelion Dynasty and the short story collection The Paper Menagerie. He has won Nebula, Hugo and World Fantasy awards and is also known for his English translation of the Chinese sci-fi trilogy by Liu Cixin that opens with The Three-Body Problem. Liu was born in Lanzhou in China’s northwest and moved to the US with his parents when he was 11. He has a bachelor’s degree in English literature as well as…
FirstFT: Wealthy Chinese shun Singapore for the Gulf
This article is an on-site version of our FirstFT newsletter. Subscribers can sign up to our Asia, Europe/Africa or Americas edition to get the newsletter delivered every weekday morning. Explore all of our newsletters here Good morning and welcome back to FirstFT Asia. In today’s newsletter: Singapore falls out of favour with wealthy Chinese people US government shutdown hits air travel Louis Vuitton’s ship-shaped Shanghai shop Singapore has long been a popular destination for rich Asians trying to set up family offices and secure residency. But an increasing number of…
PLA team’s ‘dirty bomb’ fallout in rare field test as nuclear tension heats up
Chinese military scientists have released the field test results of a rare simulated “dirty bomb” attack, showing the potential of a novel defence method that could stop nuclear fallout before it spreads. Advertisement The research, conducted by the Joint Logistic Support Force University of Engineering and the Rocket Force Research Institute, explores how an advanced airborne system similar to weather modification could rapidly suppress and contain deadly radioactive smoke clouds after a radiological explosion. A dirty bomb is not a nuclear weapon in the traditional sense. It does not cause…
China counts down to Long March-10 test flights in race back to the moon
Advertisement Rong Yi, a rocket expert with the China Academy of Launch Vehicle Technology (CALT), said in a social media post on Friday that the development of the new-generation crewed launch rocket was accelerating. “There have been breakthroughs in key technologies, and demonstration verification flights are about to be conducted to support the crewed lunar landing mission,” Rong said in the post on the social media account of China Aerospace Science and Technology Corporation, which oversees the academy. She said researchers were also working on the large-scale application of reusable…
Manila’s biggest challenge as next Asean chair? Staying neutral
With the Philippines set to succeed Malaysia next year as chair of Asean, the Association of Southeast Asian Nations faces challenges both within and beyond the region. It must remain united and continue to resist taking sides in the great power rivalry. Advertisement The 47th Asean summit in Kuala Lumpur was a fitting finale to an exceptional year as the bloc’s profile continued to rise. Adding to this was the admission of East Timor – an important milestone that completes the Asean family and underscores its enduring commitment to inclusiveness.…