For over 40 years, Equinoor has been an energy partner to the UK.

During that time, we've played our part in the switch from coal to gas,

and we're working hard to help the UK's energy transition.

We may not have all the answers yet, but we're determined to find them.

Equinor, an energy company, searching for better.

99.6% of Equinor's energy output is oil and gas.

Our investment in renewables and low-carbon solutions

has increased from 4% in 2020 to 27% in 2024. Find out more at equinor.com. UK.

Good morning from the Financial Times. Today is Tuesday, July 29th, and this is your FT News briefing. There's a tiff

between the UK's economic heavy hitters. And European politicians are feeling pretty sore

over the bloc's U.S. trade deal. Actually, what we've ended up with is this kind of chaotic,

unclear, high-level political agreement, which hasn't actually got everything agreed.

Plus, the U.S. economy is defying expectations, but some economists are worried the pain

just hasn't kicked in yet. I'm Mark Filipino, and here's the news you need to start your day.

Thank you. Start your day. Bank of England Governor Andrew Bailey and UK Chancellor Rachel Reeves are at odds.

Bailey stopped a meeting that Reeves set up between financial watchdogs and the fintech company Revolut.

That's according to people familiar with the matter.

The meeting was supposed to be about the startup's goal to become a fully-fledged bank.

Reeves wants that to get greenlit as soon as possible.

Bailey, meanwhile, has publicly expressed frustration with Reeves' push to deregulate

and has distanced himself from the effort.

But the Chancellor's team insisted that personal relations were very good.

...