Barclays profits boosted by market volatility gains
UK bank’s quarterly earnings rise 31% to £3.3bn
Mercedes-Benz cuts annual forecast amid China slump
German carmaker joins Volkswagen and BMW in warning on a tougher Chinese market
The unexpected winners from China’s blockbuster chip IPO
Funds run by Hefei’s local government make gains of 5,000% from CXMT listing
Tariffs and Treasury yields
Plus, re-equitisation
FTAV’s further reading
SWFs x HFs; witches; taxes; literacy; solar panels; George Cottrell; and longevity
AI stock sell-off deepens as investors dump chipmakers
SK Hynix and Samsung shares tumble, pushing South Korea’s Kospi down more than 10%
EU keeps firefighting planes on standby as France and Spain battle blazes
Also in this newsletter: Meloni doubles down on tough-on-crime agenda
Quant trading ≠ software company
Software scales, but alpha decays
FirstFT: TotalEnergies to benefit from Russian sanctions U-turn
Also in today’s newsletter: AI’s rising risk gauge and the storms intensifying wildfires
Bank of England to raise rates this year if energy prices stay high
Read the July forecast from the FT’s Monetary Policy Radar team
BYD takes on Japan’s ‘kei’ car market with tiny EV
Chinese company challenges Toyota on home turf in bid to become world’s largest carmaker in five years
DCC board grapples with an M&A ‘laggard’s dilemma’
Its price-to-earnings ratio fell from nearly 25 times in 2016 to around 11 times in early April, before its suitors emerged
TotalEnergies benefits from EU sanctions reprieve on Russian gas
French energy major can continue selling LNG from its Yamal project in Siberia to Asian customers
Polish opposition split hands Donald Tusk pre-election boost
Ex-PM Mateusz Morawiecki prepares breakaway party after dozens of lawmakers expelled from rightwing PiS
Is a private equity megadeal brewing?
One of the premier private lenders on Wall Street has held talks to acquire one of the oldest and most profitable private equity firms
Transcript: Ares’ big play in private equity
Sonja Hutson talks to Antoine Gara and Julie Steinberg
Don’t underestimate the economic power of a UK vibe shift
The economy still has plenty of challenges but there’s something to be said for facing them with a smile
EU hesitates to target Irish plant accused of supplying Russia’s war industry
Officials fear that measures restricting alumina exports to Russia would threaten bloc’s aluminium supply chain
‘Unpredictable and extremely dangerous’: France hit by rare fire thunderstorms
The unusual phenomena trigger lightning strikes and can help blazes leap across rivers and wide roads
President Curtis — zippy Rick and Morty spin-off looks askance at the US
Adult Swim’s competent comedy follows a president wrestling with secret space programmes, underground labs and monsters
Trump’s ability to talk down oil prices is being tested
As Iran conflict drags on, verbal intervention may no longer be enough to suppress prices
Nvidia behind $50bn lease on Texas data centre that will use its chips
CEO Jensen Huang deploys balance sheet to backstop growth of AI computing market
China needs a new growth model
This matters for Beijing’s sake and for the rest of the world economy
More than two-thirds of FTSE 100 restate climate metrics, analysis finds
Deloitte review of annual reports shows a tripling in the number of companies forced to revise calculations