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Good morning from the newsroom of the Financial Times.

Today is Friday, July 26th, and this is your FT news briefing.

A rebound in Google's advertising business

propels revenues higher.

One day shipping costs cause Amazon to miss Wall Street's earnings estimates.

Boris Johnson is already clashing with the European Union,

and the European Central Bank has paved the way

for a fresh package of monetary stimulus.

Plus, the F.T.'s Jude Weber explains why Latin America's missing middle economy is affecting its contribution to global growth.

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

Google's reported revenue beat expectations, all thanks to its advertising business.

Alphabet, Google's parent company, released its second quarter earnings yesterday and reported revenue growth of 22% after adjusting for currency changes.

At 38.9 billion dollars, revenue topped Wall Street's expectations, $38.2 billion.

It almost returned alphabet to the growth it had seen at the end of last year when revenue

was up 23%. The boost in revenue was up 23%.

The boost in revenue is up from the 19% constant currency growth in the first quarter.

That had led some analysts to wonder whether Google's advertising was facing a sharper secular slowdown.

Alphabet also topped profit forecasts.

Earnings per share were at $14.21.

That's up from $4.54 a share at the same time last year.

...