Team America: Yen police
A puzzling intervention
Beefing with the Big Mac Index
McDonald’s signature burger offers economic lessons — but not about purchasing power parity
FirstFT: AstraZeneca and Bristol Myers Squibb discuss $400bn tie-up
Also in today’s newsletter: Ceuta migrant crossing and Uefa’s response to failed Fifa plan
The best of TV and streaming this week
Maximalist psychological thriller ‘The Rapture’, atmospheric prequel ‘Gomorrah: The Origins’ and more. Reviews by Rebecca Nicholson
Europe’s fire costs this year mount to beyond €3bn
FT analysis shows economic toll in worst-hit countries exceeds official estimate of costs to bloc in average year
French banks warm to election financing in potential boost for Le Pen
Lenders signal willingness to offer campaign loans if government guarantees are in place
Furious — a serial killer thriller powered by rage
Emmy Rossum plays an FBI recruit tasked with tracking down a female murderer in this darkly comic, defiantly complex Disney show
A digital iron curtain is threatening the global economy
Amid geopolitical barriers that risk slowing progress and trade, Europe can become a trusted connector
US gas guzzlers see off Europe’s EVs in latest round of car wars
Detroit carmakers had a strong second quarter, while their European rivals remain downbeat
The ‘Trump effect’ is taking a toll on corporate gender goals
Changes at the Australian Securities Exchange are the latest sign of a global rollback of diversity policies
How US drinkers fell out of love with Bud Light
AB InBev shifts marketing dollars to other brands as tie-ups with celebrities and cage fighting fail to halt decline in sales
James Dacombe, 25, triples AI chip start-up’s valuation to $3.3bn
British entrepreneur behind Olix raises $312mn from investors including Arm in effort to take on Nvidia
Ofcom chair launches review of regulator to help rein in Big Tech
Ian Cheshire tells FT that watchdog will need ‘more resources’ to enforce online safety rules as it takes on wider brief
A second act for high-yield bonds
The ‘junk’ label has been left where it belongs — in a different era
A nostalgic stroll through a century of the American urban experience
This riveting exhibition at Dulwich Picture Gallery explores how, as cities across the US grew, the camera captured their fleeting realities
Whatever happened to prudence?
Governments have stopped correcting budget deficits but — so far — bond markets have let them
NHS England to revise Palantir platform data after staff concerns
Changes to two most widely cited claims come as scrutiny grows over US tech company’s contract
Philippe Starck brings ‘modern nostalgia’ to Madrid’s Brach hotel
A Belle Époque mansion is the setting for a five-star fantasy of theatrical design, generous terraces and a subterranean spa with a touch of Alice in Wonderland
Top chills, gritty thrills and sailing with serial killers — best new crime mysteries
Eight twisty tales from Yrsa Sigurðardóttir, AA Dhand, Kate Rhodes, David Heska Wanbli Weiden and more
Can capri pants ever be flattering?
Somewhere between a shrunken legging and an over-elongated cycling short, the capri is a divisive trouser style
Madrid’s Nômade Temple hotel: a cultural hub with Latin spirit
A new bohemian retreat in the heart of the Spanish capital
The ‘war room’ vowing to stop Israel’s election being stolen
As Prime Minister Benjamin Netanyahu trails in the polls, many fear what measures his government may take to keep power
Wall Street learns to love blockchain
Financial companies hope to modernise markets with the technology but systemic risks remain
The buyers of £5mn properties don’t look like they used to
The profile of super-prime buyers has radically changed — and agents aren’t keeping up