FirstFT: Russian navy educated to focus on websites inside Europe

Good morning. We begin with an unique story: Russia has educated its navy to focus on websites deep inside Europe with nuclear-capable missiles in a possible battle with Nato, in response to secret information seen by the Monetary Instances.

Maps of targets as far-flung because the west coast of France and Barrow-in-Furness within the UK are detailed in a presentation for officers that predates the full-scale invasion of Ukraine.

The FT has beforehand reported from the identical cache of 29 secret Russian navy information that Moscow had rehearsed utilizing tactical nuclear weapons within the early levels of a battle with a significant world energy.

The newest revelations present how Russia envisioned a battle with the west reaching effectively past its fast Nato frontier, planning for a collection of overwhelming strikes throughout western Europe. The paperwork had been proven to the FT by western sources. Max Seddon and Chris Prepare dinner have extra on the key information.

Right here’s what else I’m holding tabs on in the present day:

• Financial information: IEA’s oil market report and the ZEW survey on the German financial system for the month are launched. The UK has month-to-month labour market figures whereas the US publishes July producer value index inflation price information.

• Outcomes: CSL, HelloFresh, Henkel, House Depot, Simply Group, Porsche and
  Solar Life Monetary report.

• Made by Google: The corporate is predicted to launch its newest units, together with the Pixel 9 smartphone. A teaser video launched in June stated “AI . . . meet IX”.

Robert Armstrong of Unhedged and different FT specialists from London to Tokyo will break down the latest buying and selling turmoil in a subscriber-only webinar tomorrow. Don’t miss it.

5 extra prime tales

1. The US yesterday warned that Iran or its proxies may launch an assault on Israel this week in retaliation for the assassinations of Hamas and Hizbollah leaders. The White Home stated it was making ready for “what could be a significant set of attacks” in its most particular public evaluation of the timing of a possible assault from Tehran.

• Go deeper: Since Hamas’s political chief was assassinated in Iran, the Islamic republic has saved the area on edge, giving few clues on the way it will retaliate.

2. German direct funding into China has risen sharply this yr, in an indication that firms in Europe’s largest financial system are ignoring pleas from their authorities to diversify into much less geopolitically dangerous markets. Figures from the Bundesbank present that direct investments in China stood at €2.48bn within the first three months of 2024, rising to €4.8bn within the second quarter. Man Chazan experiences what’s driving the uptick in funding.

3. Donald Trump informed Elon Musk that inside “enemies” had been “more dangerous” than overseas adversaries comparable to Russia and China in a rambling, two-hour dialog on X that was delayed by glitches. Yesterday’s dialogue, billed by the Republican presidential candidate because the “greatest interview ever”, was heard at instances by greater than 1mn individuals, in response to X. Right here’s extra on how the dialog unfolded.

4. UK chancellor Rachel Reeves is contemplating searching for non-public finance to pay for a £9bn freeway and tunnel throughout the Thames in an effort to maintain the prices off the federal government’s books. Traders within the Decrease Thames Crossing would obtain returns from the toll street in alternate for bankrolling the mission, in response to two individuals near the Treasury discussions. Learn the total report.

5. Unique: Blackstone has bought 3,000 houses to the Universities Superannuation Scheme, the UK’s largest non-public pension fund, for £405mn within the largest reasonably priced housing deal of its variety. The deal is the primary sale by the buyout group from its UK residential portfolio, which incorporates roughly 20,000 houses. Right here’s what the deal means for the housing sector.

The Large Learn

Blessed with copious vitality from its in depth community of hydropower, Sweden’s far north has skilled a inexperienced rush. 1000’s of individuals have flocked to this usually snow-covered area that straddles the Arctic Circle to work for firms utilizing the excess energy. The fact has been removed from simple. With inexperienced trade initiatives struggling to scale up, can Sweden dwell as much as the hype?

We’re additionally studying . . . 

• Company bonds: Traders are piling again into bonds as recession replaces inflation as markets’ principal worry, and glued earnings proves its price as a hedge in opposition to the latest inventory market chaos.

• Rise of branded video games: Firms shifting into platforms comparable to Roblox uncover that balancing model constructing with leisure for a neighborhood that’s smart to advert trickery stays a troublesome job.

• AI-generated CVs: Extra job hunters are utilizing ChatGPT and Gemini to shine job functions, flooding recruiters with low-quality functions in an already squeezed labour market.

• South African politics: Pretoria’s unity authorities is holding collectively six weeks after it was shaped, boosting enterprise confidence.

Chart of the day

There at all times appears to be a purpose BT’s traders are saved on maintain. Strategic mis-steps, operational challenges, a hypercompetitive sector and a loud shareholder roster have saved a lid on the inventory. However Bharti’s acquisition of a stake alongside different telco traders is a vote of confidence within the firm’s technique.

Take a break from the information

Synthetic intelligence, more and more utilized in trend in relation to search, ecommerce and customer support, is making inroads into advertising. Extra not too long ago, AI influencers have change into a flashpoint for conversations about inclusion and illustration in trend media. The usage of AI nevertheless raises questions round who’s profiting and what actual illustration seems like.

Further contributions from Benjamin Wilhelm and Harvey Nriapia