France’s 10-year borrowing cost topped 5 per cent again in early Paris trading on Thursday, a day after touching that level for the first time since 2002, as the country recovers from its worst urban riots in years and braces for more clashes to come. Analysts expected market pressure to persist in the near term amid uncertainties at home and abroad, but noted that the situation remained far from turning into another euro-zone crisis. The spread between 10-year French and German bonds widened to...

Preparing for war is meant to prevent war – an idea with deep roots in ancient Chinese strategic thought that may have just found an echo in Berlin. The EU’s proposed “kill switch”, intended to swiftly cut off market access for third countries including China, was put forward by France and Germany and unanimously endorsed by member states. But ideally it would never have to be used, German Chancellor Friedrich Merz said on Wednesday, stressing that Berlin was seeking “a new balance in trade”...