AI agents could cost banks $500bn — by winning savers better rates

Banks will gain from AI as well as lose

Five things Badenoch must do to win

While Tory leader’s popularity is clear, she must still neutralise areas of weakness and move closer to the Labour government

Badenoch to pledge tax cuts and declare ‘battle for soul’ of nation at Tory conference

Conservative leader to close event as party trails Labour and Reform in opinion polls

Mike Ashley’s Frasers Group snaps up stake in Under Armour

Move is latest in series of bets by UK retail tycoon best known as Sports Direct owner

Japan to slash hundreds of stocks from Topix index in record revamp

Move set to leave benchmark with under 1,000 constituents

August wage growth poses no obstacle to more BoJ tightening

Headline wages came in above expectations and real wages remained in positive territory

India raises interest rates for first time in 3 years

RBI points to higher inflation and energy costs as it shifts to ‘tightening’ outlook

IMF’s Georgieva urges governments to rein in spending

Fund’s managing director says officials face ‘very tough political choices’ as they seek to combat soaring bond yields

Porsche to raise top model prices by 20%

German sports-car maker echoes Ferrari with bet on exclusivity to boost profits

Trump says he will speak with Putin about pneumonic plague

Washington increases pressure on Moscow to share more about the incident in which one person has died

Neat tricks to help French bonds

And why they won’t work

FTAV’s further reading

Prices; currencies; hacking; oil; Le chonk; antibiotics; afterlife

How the US used propaganda to fund World War One | The Story of Money

During the First World War, the US government needed to raise enormous amounts of money - so it turned to Hollywood

Brussels pleads with EU capitals not to slash the bloc’s next shared budget

Also in this newsletter: what does ‘Made in Europe’ really mean?

Who’d be betting against Webuild, the builder that built Italy?

Treni, porti, politica, ma nessun ponte

FirstFT: Brussels explores broad levy targeting revenue from US tech

Also in today’s newsletter: Man City’s tax probe and ‘danger money’ for ship captains

Transcript: How the US financed World War I using Charlie Chaplin and Girl Scouts

Gillian Tett and Robin Wigglesworth talk about Liberty bonds

Transcript: Skydance’s debt pile takes the spotlight

Marc Filippino speaks to Eric Platt, Alice Hancock and Krishn Kaushik

The Story of Money with Gillian Tett and Robin Wigglesworth

They say money makes the world go round, but was it always this way? Join Gillian Tett and Robin Wigglesworth on The Story of Money as they revisit the pivotal moments when money shaped history.

Germany’s spies face a fresh scandal

The BND intelligence agency had been seeking a return to the top table. Then prosecutors accused its ex-chief of treachery

Private equity’s future after the boom and bust

The mood in the $22tn private capital industry was captured on Tuesday at the FT’s Private Capital Summit

Why you should care about friction

The science of friction and wear plays a central role in making industry run more smoothly

If supermarket M&A is back, Sainsbury’s is in a sweet spot

Consolidation makes sense because there are too many stores chasing a market where demand is not growing

HMRC opened probe into Man City’s tax affairs in 2018

Investigation into whether English football club was underpaying tax began after its internal emails were leaked