IFRAME: https://www.googletagmanager.com/ns.html?id=GTM-NWQJW68 Accessibility helpSkip to navigationSkip to contentSkip to footer * Sign In * Subscribe Open side navigation menuOpen search bar myFT Search the FT ____________________ (BUTTON) Search (BUTTON) Close search bar * Home * World Sections + World Home + Global Economy + UK + US + China + Africa + Asia Pacific + Emerging Markets + Europe + Americas + Middle East and North Africa Most Read + The second impeachment of Donald Trump: what happens next? + Donald Trump is impeached for second time + Barnier warns post-Brexit border friction is the new normal + Covid infection shown to provide as much immunity as vaccines + Australian scientists cast doubt on Oxford/AstraZeneca vaccine * US Sections + US Home + US Economy + US Companies + US Politics & Policy + US Presidential Election 2020 Most Read + WhatsApp fights back as users flee to Signal and Telegram + The second impeachment of Donald Trump: what happens next? + Donald Trump is impeached for second time + McConnell leaves open possibility of convicting Trump in sign of GOP rift + New York City is latest to cut ties with Trump businesses * Companies Sections + Companies Home + Energy + Financials + Health + Industrials + Media + Professional Services + Retail & Consumer + Tech Sector + Telecoms + Transport Most Read + James Murdoch joins former Disney executive in India push + Norwegian to abandon long-haul as it fights for survival + Jim and Nathaniel Simons stand down as co-chairs of Renaissance + BlackRock assets surge to record $8.68tn + StanChart investment banking head emerges as frontrunner in CEO succession * Tech * Markets Sections + Markets Home + Alphaville + Markets Data + Capital Markets + Commodities + Currencies + Equities + Fund Management + Trading + Moral Money + ETF Hub Most Read + Get ready for self-driving banks + Hasenstab suffers largest outflow among bond managers in 2020 + Europcar debt investors left empty-handed after CDS ‘squeeze’ + TSMC says fixing global auto chip drought is a priority + Wizz Air’s debut bond takes off in sign of hot debt markets * Climate * Opinion Sections + Opinion Home + Columnists + The FT View + The Big Read + Lex + Obituaries + Letters Most Read + A ‘first family’ that warped America + America’s political crisis runs deeper than ideology + America’s warning for British democracy + By impeaching Donald Trump, Congress upholds the law + Joe Biden needs an America-first foreign policy * Work & Careers Sections + Work & Careers Home + Business School Rankings + Business Education + Entrepreneurship + Recruitment + Business Books + Business Travel Most Read + Can you succeed without being a terrible person? + Beware the cunning minimalist in your midst + How MBA students have faced a year of uncertainty + The tech chief who put diversity at the heart of her group + Mental health at work * Life & Arts Sections + Life & Arts Home + Arts + Books + Food & Drink + FT Magazine + House & Home + Style + Travel + FT Globetrotter Most Read + America’s political crisis runs deeper than ideology + The lost decade: voices of the Arab spring on what happened next + Strictly for the birds: how we can help them thrive in our gardens + Music festivals face a second summer of doubt + Six films to watch this week * How to Spend It * Sign In * Subscribe MenuSearch * Home * World * US * Companies * Tech * Markets * Climate * Opinion * Work & Careers * Life & Arts * How to Spend It Financial Times * Sign In * Subscribe Search the FT ____________________ (BUTTON) Search (BUTTON) Close search bar Become an FT subscriber to read: Fashion industry fears London will lose allure after Brexit transition Brexit looms. Access the news and analysis you need now to navigate this monumental shift: The FT provides the most robust Brexit coverage, including: * An unmatched number of scoops * Expert opinion & regional perspectives * Daily Brexit Briefing newsletter barrier image Choose your subscription Trial Try full digital access and see why over 1 million readers subscribe to the FT 1,00 € for 4 weeks Then 62,00 € per month. New customers only Cancel anytime during your trial Select Purchase a Trial subscription for 1,00 € for 4 weeks You will be billed 62,00 € per month after the trial ends * For 4 weeks receive unlimited Premium digital access to the FT's trusted, award-winning business news Read more Digital Be informed with the essential news and opinion 38,00 € per month OR 340,00 € for 1 year BEST VALUE - SAVE 20% Select Purchase a Digital subscription for 6,54 € per week You will be billed 38,00 € per month after the trial ends * MyFT – track the topics most important to you * FT Weekend – full access to the weekend content * Mobile & Tablet Apps – download to read on the go * Gift Article – share up to 10 articles a month with family, friends and colleagues Read more Print FT print edition delivered Monday - Saturday along with ePaper access 101,08 € for 3 months INTRODUCTORY OFFER Then 135,46 € every 3 months Select Purchase a Print subscription for 10,42 € per week You will be billed 101,08 € per month after the trial ends * Delivery to your home or office Monday to Saturday * FT Weekend paper – a stimulating blend of news and lifestyle features * ePaper access – the digital replica of the printed newspaper Read more Team or Enterprise Premium FT.com access for multiple users, with integrations & admin tools Pay based on use Does my organisation subscribe? Get Started Purchase a Team or Enterprise subscription for per week You will be billed per month after the trial ends Group Subscription Premium digital access plus: * Convenient access for groups of users * Integration with third party platforms and CRM systems * Usage based pricing and volume discounts for multiple users * Subscription management tools and usage reporting * SAML-based single sign on (SSO) * Dedicated account and customer success teams Read more Full Terms and Conditions apply to all Subscriptions. (BUTTON) Learn more and compare subscriptions Or, if you are already a subscriber Sign in Other options Premium Digital Premium Digital + Print Premium Digital + Weekend Print Weekend Print Useful links Support View Site TipsHelp CentreContact UsAbout UsAccessibilitymyFT TourCareers Legal & Privacy Terms & ConditionsPrivacy PolicyCookiesCopyrightSlavery Statement & Policies Services FT LiveShare News Tips SecurelyIndividual SubscriptionsGroup SubscriptionsRepublishingContracts & Tenders Executive Job SearchAdvertise with the FTFollow the FT on TwitterFT TransactSecondary Schools Tools PortfolioToday's Newspaper (ePaper)Alerts HubBusiness School Rankings Enterprise ToolsNews feedNewslettersCurrency Converter More from the FT Group Markets data delayed by at least 15 minutes. © THE FINANCIAL TIMES LTD 2021. 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. [px.gif?data=%7B%22category%22%3A%22page%22%2C%22action%22%3A%22view%22 %2C%22system%22%3A%7B%22source%22%3A%22non-ctm%22%7D%2C%22context%22%3A %7B%22name%22%3A%22product%22%2C%22product%22%3A%22next%22%2C%22data%22 %3A%7B%22source%22%3A%22%5BSOURCE%5D%22%7D%7D%7D] (BUTTON) Close drawer menuFinancial Times International Edition Search the FT ____________________ (BUTTON) Search * Switch to UK Edition * Top sections * Home * World (BUTTON) Show more World + Global Economy + UK + US + China + Africa + Asia Pacific + Emerging Markets + Europe + Americas + Middle East and North Africa * US (BUTTON) Show more US + US Economy + US Companies + US Politics & Policy + US Presidential Election 2020 * Companies (BUTTON) Show more Companies + Energy + Financials + Health + Industrials + Media + Professional Services + Retail & Consumer + Tech Sector + Telecoms + Transport * Tech * Markets (BUTTON) Show more Markets + Alphaville + Markets Data + Capital Markets + Commodities + Currencies + Equities + Fund Management + Trading + Moral Money + ETF Hub * Climate * Opinion (BUTTON) Show more Opinion + Columnists + The FT View + The Big Read + Lex + Obituaries + Letters * Work & Careers (BUTTON) Show more Work & Careers + Business School Rankings + Business Education + Entrepreneurship + Recruitment + Business Books + Business Travel * Life & Arts (BUTTON) Show more Life & Arts + Arts + Books + Food & Drink + FT Magazine + House & Home + Style + Travel + FT Globetrotter * Personal Finance (BUTTON) Show more Personal Finance + Property & Mortgages + Investments + Pensions + Tax + Banking & Savings + Advice & Comment + Next Act * How to Spend It * Special Reports * FT recommends * Graphics * Lex * Alphaville * Lunch with the FT * FT Globetrotter * #techAsia * Moral Money * FTfm * Newsletters * Video * Podcasts * News feed * myFT * Portfolio * Today's Newspaper (ePaper) * Crossword * Our Apps * Help Centre * Subscribe * Sign In