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 Thursday, August 14th. And this is your FT News Briefing.

Turns out rich people aren't fleeing the UK after all. And British companies are rushing to do more business in China.

Plus, U.S. shale has been booming for the past 10 years. But that run may be coming to an end.

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

It looks like the UK doesn't need to worry about losing all its wealthy residents,

whose fortunes are headquartered outside the country.

Earlier this year, Chancellor Rachel Reeves intensified Britain's crackdown on so-called non-domsides,

that's non-domiciled residents, folks who may be avoiding taxes while living in the UK.

And some predicted this crackdown would lead to a mass exodus.

But new data finds no evidence suggesting more non-DOMs left Britain than official predictions,

which takes a huge amount of pressure off Reeves.

She's hoping to raise four billion pounds from the non-doms between 2026 and

27.

The U.S. has been in a shale boom for a while now. If you don't include the pandemic, when

...