The US consumer is showing some strain
Spending is rising, but not on the right stuff
FirstFT: US corporate profits surge as wages lag
Also in this newsletter: Europe’s defence rebuke and Saudi Arabia’s mega-project revamp
US assesses European allies’ allegiance in pointed Nato questionnaire
Also in this newsletter: The EU’s rich states call for a drastically smaller shared budget
Harvard and the Cloudflare governance fight
What they (maybe) don’t teach you at HBS
Transcript: Canada says no thank you
Katie Martin and Robert Armstrong talk to Alan Beattie
The great junior consultant reskilling
As AI takes over more technical tasks, consulting executives are considering ordering junior staff back to the office
US corporate profits surge to record as worker payouts wilt
Pre-tax earnings hit highest level since after the second world war as employee remuneration slides
Sanjeev Gupta’s family takes out £24mn mortgage on Belgravia mansion
Investment firm Topland provided bridging loan to controversial steel tycoon’s wife
Burnham retreats from backing return of Parthenon sculptures to Greece
UK prime minister previously called for British Museum to ‘send them back, no strings attached’
Healey could suffer £4bn headroom hit because of lower immigration forecasts
New chancellor is seeking to reassure investors as he prepares for first Budget in October
Transcript: EU policy could ice out closest trading partners
Sonja Hutson talks to Andrew England and Andy Bounds
Saudi Arabia shakes up flagship real estate project
British CEO replaced in latest change after review of portfolio companies of sovereign wealth fund
Burnham’s devolution push delays police merger plans
Regional mayors have expressed concern about the government’s drive to create bigger regional forces for England and Wales
Zero-interest convertible bonds set for record year
Issuance on track for highest-ever level amid high AI stock volatility and as companies seek to limit borrowing costs
Meta’s $18bn settlement shows the wrong way to keep kids safe
Relying on mutual compromise is a flawed way to protect young users
Puig’s José Manuel Albesa talks taste
The CEO can’t live without Levi’s, lavender oil and meditation in the middle of the night
UK venture capital investment rebounds as software and biotech attract funding
Demand is coming mostly from overseas investors
The cowboy clinics selling unproven longevity treatments
An FT investigation has found a thriving market for stem cell therapies in the US promising longer, healthier lives. Experts say such claims are dangerous
Letting tax cheats off the hook is costing America
Politicised enforcement is targeting minnows while allowing the wealthiest scofflaws to escape unscathed
Is China’s ‘wise camel’ the winner from the US-Iran war?
Beijing has threatened to retaliate with ‘all necessary measures’ if the US hits it with sanctions
Liechtenstein prince tightens grip in succession shake-up
Prince Alois expands his authority while loosening checks within Europe’s wealthiest ruling family
A divine garden in a former coal-mining town
Historical spectacle and harmonious drifts of flowers and foliage bring a longstanding project in County Durham to fruition
Sunak at 10 by Anthony Seldon — the reluctant prime minister
A reappraisal of the former UK leader and his attempts to steady a beleaguered Conservative government that was already heading towards electoral disaster
The irresistible allure of the Korean hanok
Artists and architects have fallen under the spell of traditional timber houses defined by complex carpentry and Confucian principles