Financial services unit mandate a ‘first step’ in adjusting to decline in business

Hedge fund billionaire cites Silver Lake-backed company’s reliance on international travel

Since their peak almost a month ago, European banks indices have plunged 40 per cent

Energy sector leads US S&P 500 to 2.3% gain   

S&P 500 closes lower as investors await more evidence of progress against virus and extra stimulus

AMF chairman cites uncertainty around dividends and coming downgrades to credit ratings

Settlement house delays payout and project to let small shareholders cash out

French regulator says agency failed to verify false story that sent Vinci shares down 18%

Failed outsourcer’s work on Liverpool and Birmingham hospitals running years behind schedule

FTSE 250 housebuilder also takes charge for fire safety review after Grenfell tragedy

Chief executive defends government’s handing of protesters and police conduct

But its coal addiction and authoritarian system mean it will struggle to take a global lead

The pro-Beijing venture capitalist on Trump, China’s rise — and Xi Jinping’s ‘little red app’

It is not illegitimate to change borders, but it must be done through negotiation

The UK is being belligerent, the EU inflexible. But a deal can be done this year

The pushback against globalisation will come from protectionists, national-security hawks and greens

How do democracies measure up against autocratic regimes in handling the pandemic?

Gro Harlem Brundtland on lessons of SARS and how to handle a pandemic

Activist investor sought to take control of strategy at French group led by Arnaud Lagardère

Deka Investment urges chairman to act quickly to end crisis of confidence in payments group after special audit

Pexip deal marks bright spot in otherwise bleak European IPO market

Airline forecasts capacity will be almost wiped out in the second quarter

O2 and Virgin Media’s £31bn merger is one of the biggest examples of virtual dealmaking during pandemic

If Berlin agrees a €9bn bailout for the airline, it is likely to want a 25 per cent stake and board seats

Tag Heuer’s digital chief sees connected watches as a point of entry to the mechanical models

Citigroup was biggest lender but Deutsche, Barclays and SocGen are also on the hook

Price wars and coronavirus have disrupted the sector, possibly moving peak demand even closer 

Latest proposal accused of being misleading over environmental risk

French energy group makes emissions pledge as first-quarter profits drop 35%

Coronavirus exposes nation’s post-Fukushima vulnerability

Developers of clean energy projects defy wider turmoil in the global energy markets

Fortnite is typical of the new business model, renting access to a platform

Scottish Power has launched a new energy plan that allows customers to fix their bills

Lowest five-year fix in UK history

First-time buyers receive £600 cashback if they save for 10 out of 12 months before taking out a Halifax mortgage

Read the small print on ‘free’ offer

Timely relaunch allows savers to keep pace with the rising cost of living

Pension funds need to spend less time on ESG and get back to basics

Move means hard-hit industries face another year of high bills

As numbers and statistics come to the fore, can we boost national numeracy?

UK-based education company is still more value trap than takeover candidate

Tickets website has to navigate an overhaul of UK rail’s supporting infrastructure

Music royalties specialist has done well in a strong market for alt investment trusts

The default product of anxious idleness has been sidelined during pandemic

Investor group led by the CofE launches database to track tailings dams after Brazil disaster

Activist investor has almost quadrupled his stake in battered US oil producer

Take advantage of tax allowances available despite the turmoil

A live blog from FT.com