Volvo Cars shares plunge 30% after it swings to loss
Swedish carmaker to cut another 2,500 jobs and warns of potential ‘additional actions’
Kering shares slide 10% after drop in sales at flagship brand Gucci
Third-quarter performance likely to delay chief Luca de Meo’s efforts to revive struggling luxury group
FTAV’s further reading
Social money; taxes; PHP; undertakers; flowers; boomers; Kushner; Bacon; local Wiki; and doing things with wicker
‘Relentless’ cost of living pressures behind collapse in UK consumer confidence
Index measuring how people view their finances and economic prospects suffers largest monthly drop since onset of Covid in 2020
Oil hits $114 for first time since May as global stocks knocked by AI fears
Markets face twin threats of surging crude prices and concern over durability of AI boom
Winter arrives in markets
Bonds and stocks tell the same chilly story
Serbia’s Vučić faces tough election as fraud fears mount
Also in this newsletter: How to defend Europe’s position in quantum technology
Healey to promise end of ‘pointless paperwork’ for small UK companies
Government claims chancellor’s deregulation drive could cut costs by £800mn annually
How nervous are bond markets about France?
Dusting off our apples-for-apples spreadsheet
FirstFT: OpenAI trims valuation target to $1.25tn
Also in today’s newsletter: Iran war and Berlin flats plan
Transcript: Breaking down the bond market
Katie Martin talks to Robin Wigglesworth
Investing in Argentina
Javier Milei’s sweeping free-market reforms have proved painful and the mood in Argentina is growing gloomy. With presidential elections next year, can the political outsider secure enough time to complete his transformation of the chronically troubled economy?
Transcript: Why oil hasn’t ruined the global economy. With Rory Johnston
Soumaya Keynes talks to analyst Rory Johnston
The dispute that blew up a $34bn deal
And a parting message from DD co-founder JFK
Is Zuckerberg being greedy? Let shareholders decide
If the billionaire founder cares what people think, he should persuade his fellow investors to back his vision
Ukraine seeks to move customs checks inside EU to avoid Russian drones
Lorries waiting at the border to export agricultural produce into the bloc have become a target for Moscow’s attacks
Transcript: US prepared for protracted stalemate with Iran
Marc Filippino talks to Michael Pooler, Abigail Hauslohner, Eleanor Olcott and Ortenca Aliaj
US is prepared for long stand-off with Iran, says Trump envoy
Mike Waltz warns Tehran it must reach a ‘meaningful agreement’ on its nuclear programme
Summer heatwave linked to 50,000 deaths in Europe
This year’s excess heat deaths were the worst this century
How a transatlantic mega-merger fell apart over a leadership tug of war
Smith & Nephew was in talks to combine with J&J’s orthopaedics unit but refused to agree to former CEO leading combined business
Credit insurers cut cover on struggling UK housebuilder Crest Nicholson
Coface and Allianz Trade have reduced their exposure to the company in moves that could further squeeze its cash flow
Rolls-Royce nears taxpayer subsidy deal to develop new engine in UK
Company hopes for state backing of up to £200mn to put towards engine for short-haul aircraft
Does the UK over-tax banks?
Financial services sector bracing for higher levies as chancellor looks for ways to repair public finances
Scientists probe early brain development links to autism
Venture will harness clinical data and laboratory tissue models in quest for potential new therapies