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Good morning from the Financial Times. Today is Wednesday, May 24th.

This is your FT News Briefing.

The UK is struggling to hang on to a high-profile solar power investment,

plus gold is riding high, and it's not just market investors behind the recent demand.

Russia has been quietly, but also, you know, quite publicly being building.

It's gold reserve, and gold can operate outside of the Western financial system.

But first, Europe's industrial powerhouse is the losing ground in China.

I'm Mark Filipino, and here's the news you need to start your day.

German exports to China dropped by double digits in the first four months of the year.

11% to be precise, and that's raising alarm bells in Berlin.

Economists say Germany faces unique challenges.

Its car makers are losing market share in China, and chemical producers are reeling from high power

prices. Germany may also be suffering because of trade tensions between the US and China.

Germany seems to be a bit of an outlier, though.

Most other European countries have had higher shipments to China this year,

as China's economy rebounds from pandemic lockdowns.

The UK has been struggling to keep British companies investing in the UK.

Now, a high profile solar power developer called Oxford PV says it's more likely to set up a new

factory overseas and list on either the New York or Hong Kong stock market.

Here's the FT's Alice Hancock.

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