Accessibility helpSkip to navigationSkip to contentSkip to footer
  • Sign In
  • Subscribe
Open side navigation menuOpen search bar
Financial Times
SubscribeSign InmyFT
  • Home
  • World
    Sections
    • World Home
    • Global Economy
    • UK
    • US
    • China
    • Africa
    • Asia Pacific
    • Emerging Markets
    • Europe
    • War in Ukraine
    • Americas
    • Middle East & North Africa
    • Australia & NZ
    Most Read
    • Kevin McCarthy ousted as House Speaker by Republican rebels
    • ‘Now what?’: Kevin McCarthy’s historic downfall stuns Washington
    • EU estimates Ukraine entitled to €186bn after accession
    • Germany becomes scapegoat in Poland’s bitter election campaign
    • India tells Canada to withdraw dozens of diplomatic staff
  • UK
    Sections
    • UK Home
    • UK Economy
    • UK Politics
    • Brexit
    • UK Companies
    • Personal Finance
    Most Read
    • Rishi Sunak axes northern leg of HS2 in flurry of ‘radical’ decisions
    • Jeremy Hunt pushed for HS2 rail line to end in central London
    • Suella Braverman says ‘hurricane’ of migrants coming to the UK
    • The ‘rabidly anti-HS2’ aide who has Rishi Sunak’s ear
    • Northern leg of HS2 will be cancelled, Grant Shapps confirms
  • Companies
    Sections
    • Companies Home
    • Energy
    • Financials
    • Health
    • Industrials
    • Media
    • Professional Services
    • Retail & Consumer
    • Tech Sector
    • Telecoms
    • Transport
    Most Read
    • Revolut strikes share deal with SoftBank to remove barrier to UK licence
    • Blackstone funds legal action over soured Bain Capital deal
    • Hedge funds Millennium and Schonfeld in advanced partnership talks
    • The London office market is becoming harder work
    • News updates from October 3: McCarthy ousted as House speaker, Japanese yen falls through 150 level
  • Tech
  • Markets
    Sections
    • Markets Home
    • Alphaville
    • Markets Data
    • Cryptofinance
    • Capital Markets
    • Commodities
    • Currencies
    • Equities
    • Fund Management
    • Trading
    • Moral Money
    • ETF Hub
    Most Read
    • Live news: Oil sinks more than 5% in biggest one-day drop in more than a year
    • Revolut strikes share deal with SoftBank to remove barrier to UK licence
    • Bond sell-off intensifies as long-term US yields hit 16-year high
    • Hedge funds Millennium and Schonfeld in advanced partnership talks
    • News updates from October 3: McCarthy ousted as House speaker, Japanese yen falls through 150 level
  • Climate
  • Opinion
    Sections
    • Opinion Home
    • Columnists
    • The FT View
    • Lex
    • Obituaries
    • Letters
    Most Read
    • Italians have embraced ‘fake English’
    • Britain is Europe’s haven from the hard right
    • Can China overcome its demographic deficit?
    • The return of American isolationism
    • Chief executives really need to lengthen their attention spans
  • Work & Careers
    Sections
    • Work & Careers Home
    • Business School Rankings
    • Business Education
    • Entrepreneurship
    • Recruitment
    • Business Books
    • Business Travel
    Most Read
    • Why personal conduct is a growing risk for business
    • The ghastly modern office needs a reboot
    • ‘Talk to everyone you can’: Plaid’s Zach Perret on navigating a failed sale and Covid upheaval
    • Labour conference will be so full of execs it will look like Davos, only in Liverpool
  • Life & Arts
    Sections
    • Life & Arts Home
    • Arts
    • Books
    • Food & Drink
    • FT Magazine
    • House & Home
    • Style
    • Travel
    • FT Globetrotter
    Most Read
    • How to look rich
    • Climate change leads homebuyers to seek a place not in the sun
    • David Bowie — six songs that shook the world of music
    • At home with Frankel, the racehorse turned super-stud
    • London Film Festival: 10 movies to watch
  • HTSI
MenuSearch
  • Home
  • World
  • UK
  • Companies
  • Tech
  • Markets
  • Climate
  • Opinion
  • Work & Careers
  • Life & Arts
  • HTSI
Financial Times
SubscribeSign In

Manage Cookies

You can manage which cookies are set on your device, but if you disable cookies, some parts of the FT site may not work properly. Some cookies are essential for the operation of our Sites. By clicking the Save button below you are accepting cookies in accordance with our Cookie Policy.

CategoryDescription
Marketing AnalyticsWe use third party cookies to analyse marketing performance and to measure the effectiveness of our advertising on other websites.
Advertising AnalyticsWe use third party technology to measure the effectiveness of our advertising on our sites.
Demographic AdvertisingWe help you see adverts with products and services that are tailored to you, based on the information you gave us when you signed up.
Behavioural AdvertisingWe help you see adverts with products and services that are relevant to you, based on your characteristics, your online activity and your interests whilst on our sites.
Programmatic AdvertisingWe use several advertising systems that some advertisers use to buy adverts on our Sites.

Please sign into your account before submitting your preferences to ensure these changes are applied across all of your devices

If you turn this off, you will still see the same number of adverts but they may be less relevant.

Third party technology that helps us deliver other functionality

We use third party cookies to optimise marketing performance and to measure the effectiveness of our advertising on other websites. Due to technical limitations please follow the links below for each provider's policies and instructions to opt out. You will need to make these changes on every browser you use.

  • Oracle Data Cloud
  • Manage Cookies for Oracle
Oracle Data Cloud is a digital measurement platform that enables us to monitor advert viewability and analyse invalid traffic.
  • Nielsen Surveys
  • Manage Cookies for Nielsen
Nielsen is a digital measurement platform that enables us to measure the effectiveness of advertising across our Sites.

Other ways to opt out

Alternatively, you can manage cookies via your browser settings or by using the below two links; this will impact your cookie settings across the Internet, not just on FT.com:

  • Your AdChoices (Digital Advertising Alliance)
  • Your Online Choices

Some advertisers and third parties will personalise adverts based on data you have provided to them, to the extent that you have consented to this. To fully understand how these third parties process personal information, please review their policies. You can manage your cookie settings with these partners by visiting the links below.

For more details of the cookies used for advertising please visit: www.allaboutcookies.org

Useful links

Support

View Site TipsHelp CentreContact UsAbout UsAccessibilitymyFT TourCareers

Legal & Privacy

Terms & ConditionsPrivacy PolicyCookiesCopyrightSlavery Statement & Policies

Services

Share News Tips SecurelyIndividual SubscriptionsProfessional SubscriptionsRepublishingExecutive Job SearchAdvertise with the FTFollow the FT on XFT ChannelsFT Schools

Tools

PortfolioToday’s Newspaper (FT Digital Edition)Alerts HubBusiness School RankingsEnterprise ToolsNews feedNewslettersCurrency Converter

Community & Events

FT CommunityFT Live EventsFT ForumsFT Board DirectorBoard Director Programme

More from the FT Group

Markets data delayed by at least 15 minutes. © THE FINANCIAL TIMES LTD 2023. FT and ‘Financial Times’ are trademarks of The Financial Times Ltd.
The Financial Times and its journalism are subject to a self-regulation regime under the FT Editorial Code of Practice.
Financial Times

UK Edition

Subscribe for full access
  • Switch to International Edition

Top sections

  • Home
  • World
    • Global Economy
    • UK
    • US
    • China
    • Africa
    • Asia Pacific
    • Emerging Markets
    • Europe
    • War in Ukraine
    • Americas
    • Middle East & North Africa
    • Australia & NZ
  • UK
    • UK Economy
    • UK Politics
    • Brexit
    • UK Companies
    • Personal Finance
  • Companies
    • Energy
    • Financials
    • Health
    • Industrials
    • Media
    • Professional Services
    • Retail & Consumer
    • Tech Sector
    • Telecoms
    • Transport
  • Tech
  • Markets
    • Alphaville
    • Markets Data
    • Cryptofinance
    • Capital Markets
    • Commodities
    • Currencies
    • Equities
    • Fund Management
    • Trading
    • Moral Money
    • ETF Hub
  • Climate
  • Opinion
    • Columnists
    • The FT View
    • Lex
    • Obituaries
    • Letters
  • Work & Careers
    • Business School Rankings
    • Business Education
    • Entrepreneurship
    • Recruitment
    • Business Books
    • Business Travel
  • Life & Arts
    • Arts
    • Books
    • Food & Drink
    • FT Magazine
    • House & Home
    • Style
    • Travel
    • FT Globetrotter
  • Personal Finance
    • Property & Mortgages
    • Investments
    • Pensions
    • Tax
    • Banking & Savings
    • Advice & Comment
    • Next Act
  • HTSI
  • Special Reports

FT recommends

  • Lex
  • Alphaville
  • Lunch with the FT
  • FT Globetrotter
  • #techAsia
  • Moral Money
  • Visual and data journalism
  • Newsletters
  • Video
  • Podcasts
  • News feed
  • FT Live Events
  • FT Forums
  • Board Director Programme
  • myFT
  • Portfolio
  • Today’s Newspaper (FT Digital Edition)
  • Crossword
  • Our Apps
  • Help Centre
  • Subscribe
  • Sign In