Cognac revenues contract 30 per cent driven by falling American sales and heightened price competition from LVMHLuxury goods

The ECB head on steep learning curves, managing shocks — and taking deep breathsLunch with the FT, Central banks

Also in today’s newsletter, an unlikely alliance in the ESG debateRenewable energy

Oil giant’s quarterly profit boosted by rising crude prices but not enough to meet Wall Street expectationsMergers & Acquisitions

The answer might surprise youCentral banks

Airlines benefit from booming demand for leisure travel as results underline sector’s recovery from pandemicTravel & leisure industry

Opposition from rival SK Hynix puts brakes on Bain Capital’s ambitions to create US-Japan chip giantMergers & Acquisitions

Also in this newsletter: Why the EU is fighting over AI rulesArtificial intelligence

Plus, Morgan Stanley’s new boss and the power struggle unfolding at MediobancaMergers & Acquisitions

Insiders describe lack of transparency and poor methodology in some corners of the market Financial & markets regulation