Conservative chaos

Hello from the FT newsroom. Conservatives have dominated the news on both sides of the Atlantic this week. In an effort to combat defeatism within his ranks, Rishi Sunak concluded his party’s conference yesterday with a flurry of announcements that the party billed as “radical” , including axing the long-awaited northern leg of HS2 .

Across the pond, the US Republican party has descended into chaos. While the GOP’s presidential favourite Donald Trump appeared in court for a civil fraud trial, ultra-Maga lawmaker Matt Gaetz led a successful bid to eject the Speaker of the House of Representatives —?an unprecedented move.

My choices this week

1. US Republicans’ dwindling enthusiasm to fund Ukraine’s war effort was one reason that Kevin McCarthy was booted out as Speaker this week — and the sentiment is not unique to America. Support for Ukraine must be future-proofed, writes the FT’s editorial board .
2. ESG ratings have transformed the financial industry over the past decade, determining which stocks and bonds make the cut for “sustainable” investment funds. But whose interests do they really serve?
3. A weekly ￡25 cash payment has turned Scotland into a European trailblazer in tackling child deprivation. The simple policy contains lessons for how to combat poverty globally . (Free to read)
4. What do China’s demographics mean for its economic prospects? In the latest instalment of his China series, the FT’s chief economics commentator Martin Wolf explores the data to see what lies ahead, and whether it can be managed.
5. The trial of disgraced FTX founder Sam Bankman-Fried has begun. He is accused of having defrauded top investors and millions of customers — and the charges carry a combined maximum sentence of more than a century behind bars. Our reporters will be in the courtroom as SBF embarks on the fight of his life.
6. “The rich, as everyone knows, don’t try to look rich. Real money has nothing to prove and no one left to impress.” Robert Armstrong and Lauren Indvik present: how to look rich . (Free to read)

Thanks for reading,

Roula

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