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[EN] Financial Times

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