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This photograph shows an aircraft of low-cost Irish airline Ryanair parked at the Thessaloniki airport “Makedonia”, in Thessaloniki on May 7, 2026.Sakis Mitrolidis | Afp | Getty ImagesRyanair warned on Monday that struggling European airlines are facing a “difficult winter” ahead, as the budget carrier reported first-quarter profit that took a 34% hit due to consumers delaying bookings amid the Middle East crisisThe airline saw its profit after tax in the April to June quarter fall to 538 million euros ($615.3 million), down from 820 million euros the previous year. Ryanair said 20% of its unhedged fuel was exposed to…

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Andy Burnham speaks after being confirmed as the Labour Party’s new leader and the country’s next prime minister, during ‘Labour’s Special Conference’ in central London on July 17, 2026. Henry Nicholls | Afp | Getty ImagesHello, this is Leonie Kidd coming to you from London. Football may not have come home this time, but Britain’s new Prime Minister Andy Burnham does have a new home. Read on!What you need to know todayToday, Andy Burnham will enter Downing Street as the British Prime Minister.He is expected to announce a raft of policy changes, from devolution from London to an overhaul of…

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KYIV, UKRAINE – JULY 19: A firefighter looks at the damage from a large-scale attack overnight that left at least one person dead and thirteen injured on July 19, 2026 in Kyiv, Ukraine. Kyiv was hit with about 40 Iskander-M and hypersonic Zircon missiles. (Photo by Paula Bronstein/Getty Images)Paula Bronstein | Getty Images News | Getty ImagesRussia launched one of its largest ballistic missile attacks on Kyiv, while Ukrainian drones carried out their deadliest strikes inside Russia in more than two years — stoking fears of wider escalation and further strains on oil supplies.Russia has carried out a wave of…

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Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Insurers backing British retirement funds have invested about a tenth of their portfolios in opaque, hard-to-price private assets, according to an S&P report that warns such holdings pose a growing risk and could be difficult to sell in a crisis.The research found that private credit holdings within the most opaque category of assets — those that rarely traded and lacked “observable” inputs for pricing — made up more than 10 per cent of the portfolios of Legal & General, Standard Life and…

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Encryption Edge Computing Data LakeJust_super | E+ | Getty ImagesShares of China’s Zhongji Innolight surged as much as 8% Monday before paring some gains, after the company received approval for a major Hong Kong listing worth up to $8 billion on Friday, in what is likely to be one of the city’s biggest in years.The Chinese optical transceivers firm has started to gauge interest from investors, and details such as size and timing may change while deliberations are ongoing, Bloomberg reported, citing people familiar with the matter. The deal size will exceed Luxshare Precision’s $3.1 billion IPO earlier this month, making…

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