Blue Owl draws in $9bn as private credit market cools
Growth in headline figure obscures worse than expected $700mn increase in fee-paying assets
Is AI increasing access to justice?
A steep increase in ‘vibe litigation’ appears to be expanding the market for legal activity
Bank of England sets stage for extended hold on interest rates
BoE scrapped its central scenario for first time since pandemic
More than 50 countries agree to work on trade measures to cut out fossil fuels
Deals between buyers and suppliers of green energy or technologies among proposed climate solutions
Citadel Securities is feeling its OATs
The next markets to fall to the algos?
Belgium in talks with Engie to nationalise country’s nuclear assets
Move to buy and possibly extend lifespan of reactors comes as energy shocks force Europe to reconsider atomic power
Bank of England holds rates at 3.75%
Monetary Policy Committee says borrowing costs may need to rise if energy shock continues to hit global economy
The Things We Never Say by Elizabeth Strout — profound and resplendent
A new tale about the power of secrets by the Pulitzer Prize-winning author of ‘Olive Kitteridge’
Returns before rigs: why surging oil prices haven’t sparked a Permian boom
US oil producers are in ‘wait-and-see’ mode as the Iran war energy crisis plays out
Volkswagen aims to cut European vehicle production as profits fall
VW takes €500mn hit from shelving EV output at US plant while rival Stellantis returns to profit as it pivots back to petrol
Welcome our new robotaxi overlords
The arrival of driverless vehicles is a second chance for cities
Eurozone hit by stagflationary forces
Inflation rose in April to 3% and growth in the first quarter was weak at 0.1%
Whitbread to sell £1.5bn of Premier Inn properties after activist pressure
Group announces overhaul of restaurants business, putting 3,800 jobs at risk
How to help left-behind places
Better data, industrial policy and education could all ameliorate inequalities
Why F1 style is the winning formula
21 buys to shift your wardrobe up a gear
12 marvellous ways to spend it in May
Featuring smash burgers, Sofia Coppola and stationery
Inflation and interest rates tracker: see how your country compares
Inflationary pressures are beginning to wane. Explore the latest data through interactive charts
FirstFT: Google pulls ahead as Big Tech AI spending targets surge
Also in today’s newsletter: oil passes $125 a barrel, and Russia’s Mali setback
Should you be worried about private credit?
John Foley and Sujeet Indap of the FT’s Lex column will answer your questions today at 1pm BST
Google outpaces rivals as Big Tech’s AI spending plans rise to $725bn
Meta stock drops on capex increase while Alphabet’s cloud business grows faster than rivals Amazon and Microsoft
Can’t cook, won’t cook? Start by feeding yourself
A cure for kitchen nerves, plus a recipe for anchovy pasta
The energy crisis is no excuse for bad subsidies
We know what worked and what failed the last time around
Oil erases gains after surging to $126 on supply fears
Brent crude hit new conflict high as blockade of Strait of Hormuz continues
Puma replaces finance chief as group battles falling sales
Chief executive Arthur Hoeld has cut hundreds of jobs and reshaped sportswear company’s leadership team