FirstFT: Wagner warlord Prigozhin in deadly airplane crash, Russia says

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An plane stated to be carrying infamous warlord Yevgeny Prigozhin, whose Wagner group launched a failed mutiny in June, has crashed on a flight from Moscow to St Petersburg, based on Russian officers.

The nation’s emergency ministry informed state newswire RIA Novosti that 10 folks, together with three crew members, died within the crash. Russia’s aviation company has printed a listing of names of individuals aboard the jet, which included Prigozhin and his right-hand man, Dmitry Utkin.

If confirmed, Prigozhin’s dying would mark a spectacular finish to his profession, by which he performed a outstanding function because the chief of a feared paramilitary pressure in Vladimir Putin’s full-scale invasion of Ukraine and later led a historic, abortive mutiny march on Moscow. Right here’s what I like to recommend studying on the rebellious warlord:

For extra on Prigozhin, try the FT investigative workforce’s work on the warlord’s enterprise empire and the way he grew to develop into a direct menace to Putin’s regime. In different information on the warfare in Ukraine:

And right here’s what else I’m retaining tabs on right this moment:

  • Federal Reserve: US shares rose and bond yields fell yesterday forward of the central financial institution’s annual gathering in Jackson Gap, Wyoming, the place rate-setters will debate whether or not to hold rates of interest greater for longer.

  • UK: GCSE college outcomes are launched this morning in England, Wales and Northern Eire.

  • US politics: Donald Trump is predicted to give up to authorities in Georgia after his lawyer, Rudy Giuliani, turned himself in yesterday. Scroll down for the most recent from the Republican presidential debate, which Trump shunned in favour of an interview with ousted Fox Information host Tucker Carlson.

  • Financial information: The OECD releases commerce statistics for the second quarter.

5 extra high tales

1. UK ministers are set to substantiate a fifth delay to post-Brexit border controls on EU produce, pushing the launch of the brand new regime to subsequent 12 months. Jeremy Hunt, the chancellor, has backed the delay over fears of pushing up meals costs throughout an inflationary disaster, and officers say an announcement may come as early as right this moment or by subsequent week on the newest.

  • UK economic system: Financial exercise fell unexpectedly for the primary time since January as greater borrowing prices hit demand, based on the most recent flash composite buying managers’ index.

  • UK coverage: Enterprise secretary Kemi Badenoch is urging the Treasury to offer monetary firepower for a brand new “superior manufacturing plan” specializing in the automotive and aerospace industries.

2. Donald Trump forged an extended shadow over the primary Republican presidential major debate, as eight of his rivals sparred over his mounting authorized woes and points starting from abortion to Ukraine. The previous US president skipped the occasion and tried to steal the highlight, dismissing his challengers in a social media interview with ousted Fox Information host Tucker Carlson. Lauren Fedor and Felicia Schwartz have the most recent right here.

3. Unique: Blackstone Group is reviving plans for a non-public fairness fund for rich people, after troubles at its flagship $67bn property fund, Breit, pressured it to shelve the launch final 12 months. Blackstone will begin taking subscriptions for the brand new fund this 12 months. Right here’s what we all know in regards to the Blackstone Non-public Fairness Methods Fund.

4. Unique: The UK has began to suit bar-coded wristbands on migrants that arrive on small boats to trace them whereas they’re being held at processing amenities. The gear and software program are offered by a little-known British tech firm known as The Barcode Warehouse, which has contracts price £1.6mn with the Residence Workplace. Right here’s extra on the controversial tagging system.

5. Nvidia’s income greater than doubled within the newest quarter on hovering demand for the chips wanted to coach the most recent synthetic intelligence fashions, outstripping even the heightened estimates on Wall Road. Learn extra on yesterday’s outcomes from the chipmaker.

The Huge Learn

Citadel founder Ken Griffin, left, and Millennium Management founder Izzy Englander
Citadel founder Ken Griffin, left, and Millennium Administration founder Izzy Englander © Rory Griffiths/FT/Bloomberg

Led by pioneers akin to Ken Griffin’s Citadel, the multi-manager mannequin has generated years of remarkable returns for funds, even after charges. However rising rates of interest, which broaden buyers’ risk-free alternate options, and an costly battle for expertise are taking their toll. With regulatory scrutiny rising and questions over excessive charges and efficiency being raised, the mannequin’s golden period could also be coming to an finish.

We’re additionally studying . . . 

  • Brics summit: When there may be an absence of inner consensus, extra members received’t routinely make the group extra highly effective, writes Alan Beattie.

  • UK politics: Labour MPs have warned that Sir Keir Starmer’s socially conservative insurance policies may depart the celebration outflanked from the left by the Scottish Nationwide celebration in an imminent by-election. 

  • Disaster of braveness: Donald Trump’s interview with Tucker Carlson is a gathering of cowards and speaks to how the advantage of braveness has fallen out of trend, writes Jemima Kelly.

  • Radioactive water: Japan begins releasing handled water from the destroyed Fukushima Daiichi nuclear plant right this moment. How dangerous is the deliberate discharge?

Chart of the day

Istanbul has been extra profitable in attracting preliminary public choices this 12 months than a lot bigger exchanges in London, Frankfurt or Milan, helped by Turkey’s retail buying and selling growth in an in any other case largely poor 12 months for listings globally.

Bar chart of Year to date deal volume ($bn) showing Turkey cracks global top-10 list for global IPOs

Take a break from the information

Jérôme Haslin is Michelin’s chief take a look at driver, tasked with creating new rubber for the wheels of automobiles constructed by purchasers together with Ferrari, Aston Martin and Porsche. The “king of tread” takes the FT’s Charlie Thomas ice drifting at Michelin’s Arctic Proving Floor in Ivalo, Finland, in this thrill of a learn.

Michelin chief test driver Jérome Haslin at its Arctic Proving Ground in Ivalo, Finland
Michelin chief take a look at driver Jérôme Haslin at its Arctic Proving Floor in Ivalo, Finland © Charlie Thomas

Further contributions from Benjamin Wilhelm and Leah Quinn

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