Also in today’s newsletter: EU-China ‘understanding’ and bank results fears

IMF Chief Kristalina Georgieva warned AI is hitting the global labor market like a “slow-moving tsunami,” with young workers entering the job market the most exposed.

Announcement follows diesel deal with Putin as US president tries to contain impact of higher fuel costs ahead of election

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Plus, JPMorgan’s European ambitions, a surge in US corporate borrowing costs, and painting the French Riviera