International - Financial Times - Credit Squeeze

Critics fear shift to ‘hyper-populist playbook’ as inflation lingers

The poorest pay the most in an energy shock

Gulf state will receive access to sophisticated American technology

As with the free-trade debate in recent years, consensus is shifting

Refineries in Gulf and Russia hit by impact of wars, while global consumption has remained high

Also in today’s newsletter: Mervyn King picked for Fed reform and Spanish forest fires kill 12

Revision of inflation ‘basket’ ditches office wear in favour of protein powder and pet insurance

US central bank chair chooses business and academic leaders to head five new task forces

Recovery in sales volumes runs out of steam in second quarter as surge in fuel costs hits snack and soda group

Swedish group majority-owned by China’s Geely is barred from selling new EVs in the US from next year

European Commission launches probe into alleged dumping of subsidised meat

Central bank’s baseline projections showed above-target inflation despite the inclusion of almost three rate rises

Stéphane Séjourné is spearheading an initiative seeking to limit Chinese investment

Also in today’s newsletter: Platner ends Senate campaign and why private assets could work for retail investors

EU industry is largely weathering the competition well

Producer price index rises for fourth straight month as Strait of Hormuz closure roils supply chains

And more on the job market

Neither the war in the Gulf nor the Covid-Ukraine price spike has taken us back to the stagflationary 1970s

Manufacturers seize ‘historic’ opportunity to move up value chain after Beijing cuts exports of key materials to Japan

Policymakers worried about inflation and ‘several’ said they did not believe current borrowing costs were restrictive