Private credit group Ares draws nearly $20bn from investors
Real estate and infrastructure commitments help offset weakness in group’s core business
Must we really ‘do lunch’?
Yes we’re late to this. But no one has solved it yet, so here goes
Does size matter?
It turns out that yes, yes it does. And the SEC is involved.
Inside the hotel that makes the Met Gala run
The Mark is one of New York’s most elite addresses. Ahead of ‘fashion’s biggest night out’, we went behind the concierge desk to see how they keep the rich and famous happy
Rosie Huntington-Whiteley wants to come home with you
A first look at Mémoire, the model and actor’s new lifestyle line
Liberia threatened with funding loss if it fails to sell carbon credits
Rainforest nations face intense pressure to sell credits to airlines and wealthier countries
Indonesia boosts payouts for delivery drivers in Labour Day handout
President Prabowo Subianto slashes platform commission rates as cost of living crisis hits millions of low-wage workers
How robotaxis will reshape the ride-hailing market
Technological advances have propelled self-driving cars from small-scale testing to rapid global expansion
Meet the do-it-all denim shirt
This style staple is the hardest-working hero in your wardrobe
The flowering ambition of Sean A Pritchard
A tiny garden in Somerset is feeding the designer’s floral empire
Welsh Labour is heading into a perfect storm
Leadership upheaval and dissatisfaction with Westminster are putting pressure on the party
My Tunis, by photographer Bachir Tayachi
The creative tours his hometown’s markets, coffee shops and rooftops
NatWest profits hit £2bn as bank benefits from slowing pace of rate cuts
UK lender expects to generate more than £17bn in income for the year
Man charged with attempted murder over stabbings in Golders Green
45-year-old Essa Suleiman charged after two Jewish men were attacked in north London on Wednesday
Tata’s owner faces forced listing after rule change and boardroom splits
India’s regulatory shift means conglomerate may struggle to avoid mandatory IPO for holding company
UK house price rise defies economic impact of Iran war
Unexpected increase in April supported by relative strength in household finances
FTAV’s further reading
China; private credit; AI and entrepreneurship; Super Micro; infinity; elders; fatherhood; smoking; and a crypto lottery
South East Water’s management should be sacked, MPs say
Shareholders in utility group should also ‘take share of blame’ for failures, says parliamentary report
US GDP: still ultimately about the consumer
Plus central bank hold ’em
Shares in Japanese toilet maker Toto soar on AI-related pivot
Investors cheer after company unveils plans to boost output of semiconductor components
‘Keep your smartphone close’: Japan puts yen market on alert for golden week action
Sensitivity to the weak currency has risen since the eruption of war in the Middle East
Unemployment really sucks, exhibit MCXXVII
Unsurprising but moderately interesting news
Transcript: The Fed holds steady
Katie Martin talks to Robert Armstrong
FirstFT: Trump’s deepening political troubles
Also in today’s newsletter: Israel supplies UAE with laser systems and the quest for Earth 2.0