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The Lex Column @FTLex

Lex is the FT's agenda-setting daily column on business and finance. Premium FT subscribers can sign up to our popular twice weekly newsletter Best of Lex ⬇️

Joined February 2009
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851 Photos and videos
Tabletop game titans offer two ways to play the nerd economy ft.trib.al/RUmXvvi

Tabletop game titans offer two ways to play the nerd economy

While Games Workshop investors have tripled their money, Hasbro shareholders have seen barely any increase

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Frasers is better at making headlines than creating shareholder value ft.trib.al/IfJeZeb

Frasers is better at making headlines than creating shareholder value

Mike Ashley’s penchant for stake-building is not that well suited to the public markets

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European defence stocks retreat on lower spending and higher wrangling ft.trib.al/435G9NM

European defence stocks retreat on lower spending and higher wrangling

Resignation of UK defence secretary shows some governments will struggle to find the money

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Musk should go more boldly with fantastical SpaceX projections ft.trib.al/oF66EHT

Musk should go more boldly with fantastical SpaceX projections

Financial history offers examples of now-giant companies that formerly lowballed their own prospects

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New York Knicks’ winning streak should rub off on its owner too ft.trib.al/71tqjj1

New York Knicks’ winning streak should rub off on its owner too

Shares in Madison Square Garden Sports, which also owns hockey team the New York Rangers, have doubled in a year

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SpaceX IPO marks the end of the no-brainer benchmark index trade ft.trib.al/Dnwracr

SpaceX IPO marks the end of the no-brainer benchmark index trade

Investors do not need big benchmarks to get what they want

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Why the much-feared crunch in oil markets has yet to arrive ft.trib.al/tpif7Jm

Why the much-feared crunch in oil markets has yet to arrive

Still-ample stocks and some more reactive producers and consumers look to have left the world better equipped to cope with disruption

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Pay trends suggest US bosses are wealthier and more nervous ft.trib.al/OJjoKIM

Pay trends suggest US bosses are wealthier and more nervous

More than 29% of S&P 500 companies provided home security perks for their top brass in 2025

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How tin went from baked beans to AI gravy train ft.trib.al/WMGtCnY

How tin went from baked beans to AI gravy train

Higher prices are prompting some miners to take up their shovels

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Anthropic leans into AI’s nascent slice-and-dice era ft.trib.al/8WpBxpB

Anthropic leans into AI’s nascent slice-and-dice era

Clever financial engineering is allowing conservative, risk-averse investors to participate enthusiastically

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Homeowners are getting used to the UK’s perma-crisis ft.trib.al/JIsvCGy

Homeowners are getting used to the UK’s perma-crisis

Households appear to have adapted to a constant state of flux

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GSK’s $10.6bn cancer deal will lead to more ft.trib.al/mYSuV1L

GSK’s $10.6bn cancer deal will lead to more

Making additional moves would be in keeping with pharma group’s strategy of building its pipeline as fast as possible

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There is a simpler option for making AI pay its way: tax it properly ft.trib.al/Vm8UjEn

There is a simpler option for making AI pay its way: tax it properly

The world of laissez-faire no longer exists given the impact of the technology

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Intesa’s bid for MPS restores some sanity to Italy’s M&A scene ft.trib.al/CRkTHuV

Intesa’s bid for Monte dei Paschi di Siena restores some sanity to Italy’s M&A scene

An Intesa victory might be appealing to Prime Minister Giorgia Meloni

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The World Cup offers pubs a chance to change the story ft.trib.al/Jl2LIRe

The World Cup offers pubs a chance to change the story

Tournament gives the industry a chance to pull in more punters and pull more pints

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Expensive oil is making electric vehicles look positively cheap ft.trib.al/r6DgGje

Expensive oil is making electric vehicles look positively cheap

Petrol retails for £1.58 a litre in the UK, up about 20% since the start of the year

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Investors wake up to the merits of sleep biotech ft.trib.al/TgHfGFr

Investors wake up to the merits of sleep biotech

More people worry about poor sleep than excess weight, but drugmakers have been deterred from entering the market by costs

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The dollar’s decline is overstated — but still real ft.trib.al/DXRBgN8

The dollar’s decline is overstated — but still real

The most reliable measure of dollar dominance is probably the loans and other dollar obligations created outside US

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Is the K-shaped economy real? Cut-price UK retailers should hope not ft.trib.al/JSS4ilZ

Is the K-shaped economy real? Cut-price UK retailers should hope not

Selling goods for rock-bottom prices can be surprisingly profitable and may entice middle-tier chains to muscle in on discount stores

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Tech groups find a new way to monetise AI hype: selling volatility ft.trib.al/uyIQ14E

Tech groups find a new way to monetise AI hype: selling volatility

Elevated convertible bond issuance is, at heart, a response to the market being twitchier than usual

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