Lagarde Says Sustainable Finances Key for Economic Stability
To continue, please click the box below to let us know you're not a robot. Please make sure your browser supports JavaScript and cookies and that you are not blocking them from loading. For more information you can review our Terms of Service and Cookie Policy. For inquiries related to this message please contact our support team and provide the reference ID below.
Japan’s Takaichi to Attend APEC in China if Parliament Allows
To continue, please click the box below to let us know you're not a robot. Please make sure your browser supports JavaScript and cookies and that you are not blocking them from loading. For more information you can review our Terms of Service and Cookie Policy. For inquiries related to this message please contact our support team and provide the reference ID below.
The financial double life of barristers
For help please visit help. ft. com. We apologise for any inconvenience. The following information can help our support team to resolve this issue.
Activists highlight a Big Yellow warning sign for the London market
For help please visit help. ft. com. We apologise for any inconvenience. The following information can help our support team to resolve this issue.
Katie Zacharia out as Trump's White House press secretary
Livestream Menu New White House press secretary Katie Zacharia is leaving her job just five days after starting it, a White House official told CNBC. Zacharia, who succeeded Karoline Leavitt, faced widespread criticism over her performance and came under mounting scrutiny about her legal background. President Donald Trump said Friday afternoon that he told Zacharia, "You don't have to do this if you don't want." VIDEO1:5301:53 Trump: Press secretary Katie Zacharia should 'reconsider' role The Exchange New White House press secretary Katie Zacharia is leaving her job after just five days in the face of criticism over her performance, a White House official confirmed to CNBC on Friday. Earlier Friday afternoon, President Donald Trump told reporters that he had just suggested to Zacharia that she quit. "I just spoke to her about it. I said, 'Katie, is this for you?'" Trump said outside the White House. "'If I were you, I'd reconsider,'" the president said he told Zacharia. The White House official, who asked not to be named in order to discuss the staffing shake-up, confirmed Fox News' report that Zacharia is "transitioning" out of the press secretary role. Zacharia's five-day tenure in the Trump administration is shorter than that of Anthony Scaramucci, who in 2017 served as White House communications director for less than 11 days. That length of time became jokingly referred to as a "Scaramucci" and was used to measure the durations of other officials who served briefly. , Zacharia lasted one-half of one Scaramucci. "Records are made to be broken. But I take no pleasure in other people's pain," Scaramucci said in an X post later Friday. Zacharia, a conservative commentator who worked at Trump Media & Technology Group, had faced widespread criticism in the days since she led a short and shaky first press briefing. She also came under mounting scrutiny about her legal background. Trump spoke to reporters before heading to Georgia for a political rally as he hopes to boost Republicans' electoral chances with just 18 days until the midterms. But Trump's efforts to sell his agenda have been muddled in part by Zacharia, who ended her first, and only, press briefing on Tuesday after delivering halting remarks and taking questions from just three reporters. In the less than six minutes she spent answering questions, Zacharia revealed that U. Ambassador to Greece Kimberly Guilfoyle had been asked to step down. That departure, and Zacharia's, follow those of a number of other high-ranking female officials in the Trump administration who have quit or been fired in recent months. "You know, she's been treated very rough.
Brent oil touches $110 as Iran escalates Hormuz attacks, Ukraine vows to hit Russian refineries
Livestream Menu At least nine commercial ships have come under attack near Hormuz since Sunday as Iran tries to choke off crude oil exports through the strait. The "energy ceasefire" that President Donald Trump tried to broker between Ukraine and Russia has quickly unraveled. Iran allied Houthi militants in Yemen have repeatedly fired missiles and drones at Saudi Arabia this week. @LCO26Z VIDEO4:1604:16 Rapidan Energy’s McNally: Three conflicts are impacting energy flows and fixed energy infrastructure Power Lunch Crude oil prices rose sharply Friday as Iran escalated attacks in the Strait of Hormuz, Houthi militants fired missiles at Saudi Arabia and Ukraine vowed to keep striking Russian refineries. Brent futures hit a session high of $110 per barrel for the first time since May before easing slightly to close at $109.86, a gain of 3.7%. West Texas Intermediate rose 3.5% to settle at $101.41 per barrel. WTI added more than 10% this week while Brent advanced nearly 5%. Saudi Arabia intercepted several missiles fired over the Red Sea on Friday, including one that was heading toward the oil export terminal Yanbu, a military spokesman said. Three drones were also destroyed in the kingdom's Riyadh and southern regions, the military said. Iran-allied Houthi militants in Yemen have repeatedly fired at Saudi Arabia this week. Oil giant Aramco came under attack when one of its administrative buildings in Dhahran was hit Tuesday, the kingdom's energy ministry said. The Houthis attacked Riyadh's international airport on Oct. 10, killing 12 and injuring more than 300. In the Strait of Hormuz, at least nine tankers and cargo ships have come under attack since Sunday as Iran tries to choke off oil exports through the waterway. Iran sank the container ship GFS Pride on Wednesday, U. The crew of the Singapore-registered ship was safely evacuated, according to Singapore's maritime authority. The attacks have left three seafarers injured and two missing this week, according to the International Maritime Organization. Crude exports through Hormuz have pulled back after touching prewar levels in September. Shipments stood at 9.4 million barrels per day for the week ended Wednesday, about 70% of the average before the Iran war, according to data provided . Meanwhile, the "energy ceasefire" that President Donald Trump tried to broker between Ukraine and Russia has quickly unraveled. The Kremlin continued attacking Ukrainian infrastructure despite the supposed truce. President Volodymyr Zelenskyy said Kyiv would resume strikes on Russian refineries in retaliation. Diesel prices have surged this year due to Ukraine's attacks on Russian refineries and Iranian strikes on energy infrastructure in the Middle East.
Here's who Netflix just brought in to run content — and what it means for the streamer
Livestream Menu Netflix has replaced its chief content officer, Bela Bajaria, with former Disney executive Peter Rice. Rice brings a wealth of experience in television and film, including scripted and unscripted shows, live sports telecasts, prestige television and theatrical distribution. Netflix's viewership has stagnated in recent quarters. It reports quarterly earnings on Tuesday. NFLX VIDEO1:0601:06 Netflix’s big executive shakeup: Here’s what you need to know Squawk on the Street Netflix is shaking up its C-suite in an effort to fix its engagement woes. On Thursday, the streaming giant announced that former Disney executive Peter Rice will take over as the company's chief content officer, overseeing global content organization, including scripted and unscripted series, film and live events. Rice is replacing 10-year Netflix veteran Bela Bajaria, who most recently led the company's global content team with a focus on its live sports strategy. Bajaria was initially hired in 2016 to help the streamer launch an unscripted division as well as licensing and studio co-productions. She later transitioned to the top creative role, spearheading Netflix's $20 billion content budget. She oversaw popular TV series like "Stranger Things," "Wednesday," "Bridgerton," "Squid Game," "Adolescence" and "Beef," as well as Netflix films like "Frankenstein" and "KPop Demon Hunters." Bajaria also helped push Netflix into live sports and events, including deals with the WWE and the NFL as well as programs like "The Roast of Tom Brady." Prior to his stint at Disney, Rice was president of 21st Century Fox and CEO of Fox Networks Group as well as Fox's lead executive on the Hulu board. He was also the president of Fox Searchlight Pictures and helped release "Slumdog Millionaire," "Juno," "Little Miss Sunshine" and "Sideways." The executive change follows a tumultuous period for Netflix as it faces stagnating viewership and explores avenues for growth. It comes just days after the streaming giant laid off roughly 1,000 employees, or 6% of its workforce. The last time Netflix made cuts of this size was in 2022 when it reported its first quarterly subscriber loss in more than 10 years. "We believe this round of layoffs reflects more structural changes to the cost base than a reaction to near-term subscriber dynamics," wrote Brian Pitz, managing director and head of internet and interactive entertainment equity research at BMO Capital Markets, in a research note published Friday. In July, Netflix reported viewership increased just 2% in the first half of the year as the streamer suffers from a lack of shows with water-cooler-level hype.
The hunt for Fed October
Rate markets have been particularly volatile on the outcome of the Fed’s next rate decision later in the month
France and Germany seal EU car deal
For help please visit help. ft. com. We apologise for any inconvenience. The following information can help our support team to resolve this issue.
Nike's India campus is a long-term growth bet amid turnaround
Livestream Menu Earlier this month, Nike announced it is expanding into India, a move it said will help widen its global reach and tap into the growing market. Nike has experienced a yearslong slump and a sustained decline in China. Experts say it's uncertain whether the retailer's long-term bet will be enough to offset the short-term pressures. NKE A shopper carries a Nike bag in San Francisco, Dec. 17, 2025. David Paul Morris | Bloomberg | Nike is making a big bet on India. The retailer, which has been struggling to revive its business and regain momentum under CEO Elliott Hill, is hoping the world's most populous country can help it turn the page on its performance. As it reported its fiscal first-quarter earnings on Oct. 1, the company announced it will create a new global campus in Bengaluru, India, as part of its growth strategy. Hill wrote in a letter to employees that the new facility would be a "long-term investment" to help position Nike for success. "India is already an important growth market and manufacturing hub for Nike, with strong capabilities and access to talent," Hill wrote. The new campus is expected to open in the next few years and span corporate roles across the organization, including the namesake Nike brand, Jordan Brand and Converse. Nike plans to discuss its India campus in detail at its investor day next month. In a statement to CNBC, a Nike spokesperson said expanding into India is a "natural" next step for the company as it looks to grow its global presence. "As participation in running, basketball, football, fitness and other sports continues to grow across India, we see an opportunity to better serve athletes through stronger local capabilities, consumer insights, and innovation," the spokesperson said. India will be the world's third-largest retail market by 2030, according to Indian conglomerate Reliance Industries. Its e-commerce market was valued at $159.25 billion in 2026 and is projected to reach $332.94 billion by 2031, according to IBEF, a business advocacy organization created . Nike has endured a yearslong slump and is trying to right its business under Hill's turnaround plan. Nike also announced this month that it would lay off workers across the company as part of what it has dubbed its Pace strategy, which includes supply chain changes and reorganization of the company's geographic segments. Nike expects the effort to deliver approximately $2.5 billion in savings through fiscal 2031. Nike's decision to invest further in India as part of its comeback comes as the sportswear company sheds revenue in another critical international market: China.