Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US and India announced a framework for an interim trade agreement in February, following stalled negotiations between Narendra Modi’s government and the Trump administration. India strove to protect its politically sensitive foodgrain and dairy markets, but the Asian giant agreed to open its economy to imports of most US industrial goods and some food products. Was this a capitulation or a mutually beneficial opportunity? And what does this say…
Category: FT
Bill Gates pulls out of India’s AI summit amid Epstein controversy
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Bill Gates has pulled out of a keynote speech at a high-profile global AI summit in India, as the Gates Foundation continues to manage the fallout from its chair’s interactions with Jeffrey Epstein. The philanthropic body on Thursday said the last-minute decision was made “after careful consideration” and “to ensure the focus remains on the AI summit’s key priorities”. The Microsoft co-founder’s withdrawal comes following controversy over Gates’s involvement with…
South Korea’s ex-president escapes death sentence in martial law trial
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Former South Korean president Yoon Suk Yeol has been sentenced to life in prison for insurrection over his failed attempt to impose martial law that plunged the country into turmoil. A three-judge panel at Seoul Central District Court on Thursday found that Yoon was guilty of leading an insurrection in late 2024 that attempted to subvert the constitution. “Yoon’s acts of sedition fundamentally undermined the core values of democracy,” said…
South Korea’s ex-president given life sentence over martial law bid
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Former South Korean president Yoon Suk Yeol has been sentenced to life in prison for insurrection over his failed attempt to impose martial law that plunged the country into turmoil. A three-judge panel at Seoul Central District Court on Thursday found that Yoon was guilty of leading an insurrection in late 2024 that attempted to subvert the constitution. “Yoon’s acts of sedition fundamentally undermine the core values of democracy,” said…
Postcard from Pakistan: after two decades, kites return to the skies above Lahore
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. By three o’clock on the first Saturday in February, Lahore is already in motion. The streets pulse with anticipation as people head out to parties, carrying spools of string and delicate kites, some held high above the crowd. Traffic crawls; street-food vendors slip between cars and motorbikes, their calls mingling with the city’s cacophony. Above it all, the first kites rise silently, hovering and darting across the afternoon sky, as…
Tata scion struggles to consolidate control at one of India’s biggest groups
Stay informed with free updates Simply sign up to the Indian business & finance myFT Digest — delivered directly to your inbox. The Tata scion who chairs the powerful ownership trusts at the $300bn conglomerate is struggling to consolidate his control as factional fighting fuels uncertainty over the stability of one of India’s biggest groups. Noel Tata faces divided boards at Tata Trusts, a set of charitable trusts that own 66 per cent of Tata Sons, the conglomerate’s holding company. Tata has tried to position his son Neville — currently…
South Korea’s ex-president Yoon faces verdict over failed martial law
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A South Korean court will deliver its verdict on Thursday in the trial of the country’s former president Yoon Suk Yeol, who is charged with insurrection over an attempt to impose martial law. He could face the death sentence if convicted. The ruling from the Seoul Central District Court will cap a dramatic episode that plunged South Korea into its worst political crisis in decades and tested the strength of…
IMF calls on China to cut industrial subsidies in half
Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. The IMF has called for China to slash state support for industry in half as international concerns mount about overcapacity in the world’s second-largest economy. The fund estimated that China spends about 4 per cent of its GDP subsidising companies in critical sectors, and said it should reduce that by 2 percentage points in the medium term. China’s industrial policies “are giving rise to international spillovers and pressures” and have…
IMF calls on China to halve industrial subsidies
Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. The IMF has called for China to slash state support for industry as international concerns mount about overcapacity in the world’s second-largest economy. The fund estimated that China spends about 4 per cent of its GDP subsidising companies in critical sectors, and said it should reduce that by 2 percentage points in the medium term. China’s industrial policies “are giving rise to international spillovers and pressures” and have combined with…
Is an AI price war about to begin?
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The price of using artificial intelligence is falling. In China, entry-level access to AI models has been marketed for about $3 a month by the country’s hottest AI group Zhipu. Widely seen as one of China’s closest local equivalents to OpenAI, it develops large language models to compete with US systems. In a market where paid plans from US peers are closer to $20 a month depending on tier, and…