This business paper is strongly recommended for regular reading. Financial Times is the British newspaper, which owns 50% of the Economist’s shares and has The Wall Street Journal a direct competitor.
The history of Financial Times begins in January 1888 with the publication of the first four-broadsheet issue of a newspaper called London Financial. However, a month later the founders of the publication, the brothers Horatio William Bottomley and James Sheridan, renamed it Financial Times. The paper was addressed to London community of financiers. The publication quickly earned the readers’ trust, and became a kind of Bible for stockbrokers, but Financial Times had competitors. The most serious of them in Britain, was considered to be the newspaper Financial News, which appeared four years earlier and earned the fame of a fearless anti-corruption publication. In order to become distinguishable for readers, since 1893 Financial Times has been printed on orange-pink paper. For some time competitors were neck-and-neck. During this time Financial News managed to buy shares of the magazine The Economist and absorb the newspaper Financier and Bullionist, but Financial News, in spite of everything, always had the upper hand by the number of copies. In 1945 the merge of the competing publications was carried out. The new version of Financial Times then had a large circulation and journalistic talents of Financial News (and also borrowed its well-known column Lex).
Since the 1970s Financial Times began to expand the scope of readership all over the world. 1979 marked the publication of the first issue in Frankfurt, in 1989 the newspaper appeared in Paris, in 1985 it conquered New York, and then another two dozen cities in four international editions. 1990s have become the period of new technologies. In 1995 the world saw the release of the online resource FT.com, which made it possible to deliver the news to any corner of the globe faster. The publication was noticed by the rest of the media, and in 1997, the newspaper receives one of the most prestigious awards in the world of journalism, The Newspaper of the Year by What The Papers Say. The following year, Financial Times received the award Newspaper of the Year from the British Press Awards. Having caught the trend in 2010, Financial Times became available in Bloomberg terminal, created applications for iOS, and won Apple Design Award next year. In the same year Financial Times buys the consulting agency Medley Global Advisors.
The publication does not intend to focus on certain circles of society, however, the model ADGA ( FT Group know-how) shows that newspaper readers are primarily politicians and top managers of the largest financial institutions. The publication has huge credibility. Thus, the worldwide community of professional investors considers Financial Times the most reliable source of news in business and finance. The additions to the daily Financial Times are the Sunday publication FT Weekend and the magazine How to Spend It providing new business articles on real estate (houses, yachts) and luxury goods (clothing, watches, etc.). Financial Times has become a creator of several stock market indices, for example, the FTSE 100 Index, which is one of the most important stock market indicators in Europe, and the originator of annual rating of the most popular companies in several categories (FT500). The policy of Financial Times depends on the beliefs of the current editorial staff and has been changed not once since the foundation of the newspaper. Now the publication tends to perform liberal-democratic views, favouring globalization and free market. Financial Times is perhaps the most tech-savvy business publication, which is aimed at the adaptation to mobile devices and thus expanding the audience in the near future. More than a half of current circulation of 600 000 copies are paid online subscriptions.