In BIG PICTURE NEWS, we look at the impact of tariffs so far, Le Pen's defiance and the UK government's moves to scrap quangos. In FINANCIALS NEWS, investors try to get their money out of private equity, the government looks to dilute the rules and almost half of all hedge funds are thinking about cutting fees. In MISCELLANEOUS NEWS, EV targets are eased, Germany's car factories look to the future and A&O Shearman unveils an AI tool. AND FINALLYI bring you a very amusing challenge...