Financial Times

The Financial Times (FT)[nb 1] is a British daily business newspaper printed in broadsheet and also published digitally that focuses on business and economic current affairs. Based in London, the paper is owned by a Japanese holding company, Nikkei, with core editorial offices across Britain, the United States and continental Europe. In July 2015, Pearson sold the publication to Nikkei for 844 million (US$1.32 billion) after owning it since 1957. In 2019, it reported one million paying subscriptions, three-quarters of which were digital subscriptions.[6][7] The newspaper has a prominent focus on financial journalism and economic analysis rather than generalist reporting, drawing both criticism and acclaim. It sponsors an annual book award and publishes a "Person of the Year" feature.

The editorial stance of the Financial Times centres on economic liberalism, particularly advocacy of free trade and free markets. Since its founding, it has supported liberal democracy, favouring classically liberal politics and policies from international governments; its newsroom is independent from its editorial board, and it is considered a newspaper of record. Due to its history of economic commentary, the FT publishes a variety of financial indices, primarily the FTSE All-Share Index. Since the late 20th century, its typical depth of coverage has linked the paper with a white-collar, educated, and financially literate readership.[8][9] Because of this tendency, the FT has traditionally been regarded as a centre[10] to centre-right[11] liberal,[12] neoliberal,[13] and conservative-liberal[2] newspaper. The Financial Times is headquartered in Bracken House at 1 Friday Street, near the city's financial centre, where it maintains its publishing house, corporate centre, and main editorial office.

Financial Times

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The FT was launched as the London Financial Guide on 10 January 1888, renaming itself the Financial Times on 13 February the same year. Describing itself as the friend of "The Honest Financier, the Bona Fide Investor, the Respectable Broker, the Genuine Director, and the Legitimate Speculator", it was a four-page journal. The readership was the financial community of the City of London, its only rival being the more daring and slightly older (founded in 1884) Financial News. On 2 January 1893 the FT began printing on light pink paper to distinguish it from the similarly named Financial News: at the time, it was also cheaper to print on unbleached paper (several other more general newspapers, such as The Sporting Times, had the same policy), but nowadays it is more expensive as the paper has to be dyed specially.[14]

According to the Global Capital Markets Survey, which measures readership habits among most senior financial decision makers in the world's largest financial institutions, the Financial Times is considered the most important business read, reaching 36% of the sample population, 11% more than The Wall Street Journal (WSJ), its main rival. The Economist, which was once 50% owned by FT, reaches 32%. FT's The Banker also proved vital reading, reaching 24%.[47] In addition, the FT was regarded as the most credible publication in reporting financial and economic issues among the Worldwide Professional Investment Community audience. The Economist was rated the third-most-credible title by most influential professional investors, while the WSJ was second.[48]

The FT is split into two sections. The first section covers domestic and international news, editorial commentary on politics and economics from FT journalists such as Martin Wolf, Gillian Tett and Edward Luce, and opinion pieces from globally renowned leaders, policymakers, academics and commentators. The second section consists of financial data and news about companies and markets. Despite being generally regarded as primarily a financial newspaper, it does also contain TV listings, weather and other more informal articles. In 2021 and 2022, the outlet began focusing more on the cryptocurrency industry, launching a Digital Assets Dashboard, publishing multi-asset crypto indexes, starting a Cryptofinance newsletter dedicated to digital assets, and recruiting more journalists to cover the sector.[49][50] About 110 of its 475 journalists are outside the United Kingdom.

Some media commentators were taken aback by the online launch of a website supporting conspicuous consumption during the financial austerity of the late-2000s recession.[53] The magazine has been derided in rival publishers' blogs, as "repellent" in the Telegraph[55] and "a latter-day Ab Fab manual" in the Guardian.[56] A 'well-thumbed' copy of the supplement was found when rebel forces broke into Colonel Gaddafi's Tripoli compound during the 2011 Libyan Civil War.[57]

The Financial Times' Financial Publishing division (formerly FT Business) provides print and online content for retail, personal and institutional finance audiences. Examples of publications and services include: Investors Chronicle, a personal finance magazine and website; "FT Money", a weekly personal finance supplement in "FT Weekend"; FT Wealth, a magazine for the global high-net-worth community and FTfm, a weekly review of the global fund management industry, Money Management and Financial Adviser (a publication targeted at professional advisers). The institutional segment includes: The Banker, This Is Africa, fDi Intelligence and Professional Wealth Management (PWM).[88] Money-Media, a separate arm of Financial Publishing, delivers a range of digital information services for fund management professionals around the globe, including: Ignites, Ignites Europe, Ignites Asia, FundFire and BoardIQ. Financial Publishing includes publications (Pensions Expert and Deutsche Pensions & Investmentnachrichten) and events (Investment Expert) for the European pensions industry. The group also publishes MandateWire, a financial information company that provides sales and market intelligence for investment professionals in North America, Europe and Asia.[79]

FT Knowledge is an associated company which offers educational products and services. FT Knowledge has offered the "Introducing the City" course (which is a series of Wednesday night lectures and seminars, as well as weekend events) during each autumn and spring since 2000. FT Predict is a prediction market contest hosted by the Financial Times that allows users to buy and sell contracts based on future financial, political and news-driven events by spending fictional Financial Times Dollars (FT$). Based on the assumptions displayed in James Surowiecki's The Wisdom of Crowds, this contest allows people to use prediction markets to observe future occurrences while competing for weekly and monthly prizes.

Gillian Tett is chair of the editorial board and editor-at-large, US of the Financial Times. She writes weekly columns, covering a range of economic, financial, political and social issues and co-founded Moral Money, the FT sustainability newsletter.

Todd Baker is a financial services executive whose career has led him from corporate law to C-suite strategic business leadership roles at several of the largest domestic and international banks and roles as an academic, consultant, writer, speaker and commentator on banking, financial technology, consumer financial access and regulation issues.

Sir, In your editorial " In praise of bank leverage ratios " (Editorial, July 11) you seem to imply that some regulators and the financial services industry object to implementing a leverage ratio as a backstop measure to ensure sound and robust bank capitalization. On the contrary, a 3 per cent leverage ratio is now an integral part of the Basel III framework and is being implemented, with support from the industry, in all major jurisdictions, including the EU.

It is a different matter, however, to abandon risk-sensitive capital frameworks and adopt a crude measure such as the leverage ratio as the binding driver of regulatory capital. Nothing but a false sense of safety would come out of such a framework, which would bring us back to the pre-Basel I era, hardly a model of perfect financial stability.

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What Ms LaGarde fails to tell readers is that the EU spends three times what the US does on trade-distorting domestic subsidies and still the EU has not offered cuts on par with ours. She also omits to say that the U.S. proposed 2010 as a date certain for the elimination of export subsidies -- we are still waiting for the EU to meet this challenge. ff782bc1db