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[EN] Financial Times

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