BUSINESS
Tech groups shift $120 billion of AI data centre debt off balance sheets
Creative financing helps insulate Big Tech while binding Wall Street to a future boom or bust
ARTIFICIAL-INTELLIGENCE
America’s risky bet on hydrocarbons might hurt it in the AI race
US strategy could be costly in terms of higher electricity prices, increased water stress and potential food insecurity
BUSINESS
Apollo cuts risk, stockpiles cash in preparation for market turmoil
Marc Rowan tells investors firm is positioning itself for when ‘something bad happens’
BUSINESS
Prediction markets and the casino mentality of 2025
Financial gamification has upended traditional patterns of trust and oversight
BUSINESS
From colonising Mars to measuring with Mars Bars — addressing your wilder monetary queries
In the latest of his Christmas columns, the FT’s Undercover Economist fields some of your most outlandish proposals, and concludes that there is no such thing as a stupid question
BUSINESS
Two views of AI and Big Tech
How much has changed?
BUSINESS
The worried investor’s guide to 2026
While markets were buoyant this year, volatility is never far away
BUSINESS
Mexico’s tariffs on China show the rise of Trump’s trade template
Such measures wouldn’t be necessary if Beijing ran anything like a normal, balanced economy
BUSINESS
Why the ‘stablecoin supercycle’ could rewire banking
Some technologists believe more than 100,000 such payment systems could swamp the world within five years
TECHNOLOGY
The four ‘O’s that shape a bubble
And what this test tells us about the artificial intelligence wave
BUSINESS
FT Person of the Year: Jensen Huang
The Nvidia chief executive has been the driving force behind the massive AI boom which has the capacity to reshape the global economy
BUSINESS
How China racked up a $1tn trade surplus
Beijing shakes off damage caused by US President Donald Trump’s trade war
TECHNOLOGY
Howard Marks: Is it a bubble?
Given that the growth of demand for AI is so unpredictable, there can be no doubt investor behaviour is speculative
BUSINESS
Investors bet Fed, ECB headed in opposite directions on rates
Higher borrowing costs expected in Australia, Canada and euro area could leave Federal Reserve as an outlier in 2026
BUSINESS
Donald Trump drives historic shift of power from investors to boardrooms
Moves to curb proxy advisers and passive investment giants chip away at foundations of shareholder capitalism
BUSINESS
There’s a black hole where central banks’ theory of inflation should be
Old assumptions about expectations and targets can no longer be relied upon
BUSINESS
How executive pay went galactic
Elon Musk’s $1tn incentive plan supercharges a long history of rewards driving up executive pay
BUSINESS
Ruchir Sharma: The best time to buy quality stocks is now
A generational opportunity in otherwise bubbly markets
BUSINESS
Is China winning the innovation race?
Once the world’s factory, Beijing’s relentless focus on R&D means the country has become the world’s laboratory
TECHNOLOGY
OpenAI partners amass $100bn debt pile to fund its ambitions
Cloud companies and developers rely on lossmaking start-up to repay huge loans
BUSINESS
Japan needs to end its dangerous debt delusion
The country has to face up to the hard truth that it has maxed out on its fiscal flexibility
ECONOMY-2
Martin Wolf: The fracturing of the world economy
BUSINESS
BHP’s fleeting Anglo bid shows the race for copper is heating up
It was second time unlucky for the Australian miner, but a third attempt at a later date might be the charm
BUSINESS
Howard Marks: 'People are shakily optimistic'
The Oaktree chair on Fomo, private credit, and the challenge of remaining prudent
