Shares in the image sharing platform Pinterest tumble as much as 19 percent after the company’s first earnings report since going public, Starbucks’ China rival Luckin Coffee raises $561m in its IPO gaining a valuation of $4bn and UK Prime Minister Theresa May tells her MPs she will set out a timetable for her resignation and the election of a new leader. Plus, the FT’s Australia and Pacific correspondent Jamie Smyth explains why there’s so much bad blood in Australia and what it means for Saturday’s Federal election.

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