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The Financial Times says Joe Biden has offered an olive branch to “soothe tensions” over the submarine pact. It says, after a phone call between the French and US presidents, Mr Biden “appeared to concede” that Paris had been left out of the discussions.

Financial Times Front Page 22nd of October 2021

The Financial Times leads with a warning from the Bank of England’s new chief economist that inflation is likely to rise “close to or even slightly above five percent” early next year, which comes ahead of a decision on whether to raise interest rates.

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