Quiet please, the currencies are sleeping
Plus, the end of stocks’ summer of ‘meh’?
How France and Luxembourg fatally wounded the EU’s Russia sanctions regime
Also in this newsletter: how development aid pays back in trade
The USS lesson plan
Why doesn’t the UK’s largest pension fund go all-in on stocks? Or maybe bonds?
China’s share of global container exports soars to 40%
Rapid rise underscores economy’s reliance on trade and threat to trading partners, EU chamber says
FirstFT: Kremlin-backed forgery scheme fooled global banks
Also in today’s newsletter: Polymarket’s European overture and Merz’s woes
Bank of Japan set to maintain new quarterly pace of rate rises
Read the BoJ’s September forecast from the FT’s Monetary Policy Radar team
David Ellison slays foes of his $110bn goliath
Paramount Skydance has clinched a settlement with US states that sued to block its takeover of Warner Bros Discovery
Transcript: How a Russian forgery scheme evaded sanctions
Sonja Hutson talks to Chris Cook and Henry Foy
Putin’s ‘war heroes’ form new political elite in Russian parliament
Many of the men served in units that Kyiv has accused of war crimes
What Xi wants from his summit with Trump
Chinese leader’s most urgent goal is extending trade truce with US, but he is also expected to discuss Taiwan, Iran and AI
From Burberry to Mulberry: the major shows at London Fashion Week
Christopher Kane’s Mulberry comeback, Kemi Badenoch’s M&S cameo and a homecoming by Alexander McQueen, plus other talking points from the British capital
Are we developing a distaste for effort?
Across OECD countries, the number of students who say they give up easily is increasing
Deutsche Bank’s asset manager explores curbs on German property funds
DWS considers emergency measures as investors pull money from open-ended retail product
Alison Knowles — the artist who turned lunch into a heroic display
A retrospective at New York’s Grey Art Museum looks back on her whimsical, elegant and occasionally absurd works
Rate rises should not be ‘the only game in town’
Monetary policy is not the best response tool for today’s economic and financial challenges
Equal pay law cannot ignore the labour market
A ruling that Next can pay store staff and warehouse workers differently for work of equal value upholds an important principle
The Wargame — Michael Gove plays prime minister in chilling drama-documentary
Sky One’s panic attack of a series brings together real politicians and military advisers to simulate a response to Russian provocations
Germany’s economic recovery is under way if politics doesn’t spoil it
Frugal Germany would appear to have the fiscal headroom to try and spend its way out of the impasse
Merz’s woes cast doubt over EU’s €2tn budget deal
German chancellor’s authority in Brussels hobbled by his party’s poor results in regional elections
Betting on the yen: the risks of the carry trade
As Japan’s central bank tightens monetary policy, investors who leveraged its currency for higher yields may be forced into a sell-off
Architect William Smalley’s Zen home renovation ‘stretches time’
The recently updated Bloomsbury home mixes ancient and modern, eschews perfection, and reveals the hand of its makers
London’s schools are running out of children
Councils want more powers to repurpose buildings and fend off academies
AI staff complain of mental toll over fears of threat to society
Top researchers at Aisi, OpenAI, Anthropic and Google DeepMind report burnout and stress over developing powerful AI
Sorry Carney, the world does need a great power with better manners
Calling for closer EU-Canada ties without pooling sovereignty is an abdication of European responsibility