| There are few rivalries as ancient as that of London and Paris, and it seems the French capital is gaining ground on the Square Mile — at least in finance. But banking has its own risks, and loans to wealthy homebuyers in America have come back to haunt First Republic. We're reminded of the immense stress faced by young people, whose TikTok feeds may cause their mental health to spiral. In India, the proliferation of worthless college degrees is causing anxiety for new grads. But we also find inspiration in a young adult novel that puts teenagers at the forefront of conversations about neighborhood change. Is it too soon to plan a summer vacation? The views look pretty good from the edge of space, though the classical glories of Greece and its white-sand beaches are pretty hard to beat. Either way, we've got a guide on how you can travel while keeping fit.  Photographer: Benjamin Girette/Bloomberg Slowly but surely, Paris is muscling in on London's dominance of European banking. Post-Brexit, the likes of Goldman, Citi and JPMorgan are beefing up their presence in the city, driving up demand for luxury housing and private schools. London is still vastly bigger in terms of staff numbers and business volumes, and Frankfurt and Dublin are also gaining in stature, but expect Paris to keep surging as a trading center as Europe's financial industry fragments. —William Shaw  First Republic Bank Bloomberg First Republic worked hard to woo rich clients, becoming one of the fastest-growing US banks with a strategy that now looks like a colossal mistake. It massively expanded home lending on generous terms when rates were low — clients with high incomes and sterling credit scores could get rock-bottom rates and even avoid paying principal for a decade. Investors and homebuyers flocked to these interest-only mortgages, financing properties from the Hamptons to wealthy Silicon Valley enclaves, a Bloomberg review of federal data shows. But the value of the loans has dropped as the Fed hiked rates, complicating a rescue of the bank, which is being propped up by larger lenders. —Noah Buhayar  Photographer: Anindito Mukherjee/Bloomberg Across India, now the world's most-populous nation, youngsters with multiple degrees wander in search of work or spend their time watching reels on social media. Some are getting drawn into crime. At the heart of the problem is the quality of education. The nation is churning out doctors and engineers who rarely attend class or get the practical knowledge to do their jobs. These degrees have no value for employers, but young Indians remain drawn to colleges popping up inside small apartment buildings or shops. The hope is they will at least get social status, if not a job. —Vrishti Beniwal and Bibhudatta Pradhan  Photographer: Kylie Corwin for Bloomberg Businessweek Chinese security risks aside, another major concern about TikTok lies in the platform's secret algorithm, according to researchers and psychologists. It can send steady streams of dark and dangerous content to the millions of kids using it on a daily basis. I wanted to find out what it feels like to tumble into a rabbit hole of depressing content on TikTok, which says it's committed to the safety and well-being of users, especially teens. What I found disturbed me: A 16-year-old boy was sent a carousel of suicide-glorifying content before he killed himself last year — and the very team inside TikTok that's responsible for protecting kids doesn't understand how the algorithm works. —Olivia Carville  Inspired by the young protesters who took part in US demonstrations for racial justice in 2020, a new novel puts teenagers "on the front lines" of complex conversations about gentrification and inequality. There Goes the Neighborhood, by Los Angeles-based author Jade Adia, is a coming-of-age story about a group of Black and brown teens who orchestrate an absurd plot to stop their South LA neighborhood from gentrifying — by creating a fake gang. All goes as planned, until that nonexistent gang is accused of murder. Part comedy, part mystery, the book is dedicated to young adults who continue to fight the status quo, despite being disillusioned by the political process. —Linda Poon  The sky's the limit for some vacationers, with France's Zephalto now offering passengers the chance to reach the stratosphere in a balloon — for a cool €120,000 ($132,000) a head. From an altitude of 25 kilometers (15.5 miles), you'll be able to enjoy astronaut-only views, along with a selection of fine French food and wine. If you're more, ahem, down to Earth, check out our guide to where to stay in Greece this summer, from rugged coastal resorts to an adults-only retreat in Santorini. And don't worry if you indulge a bit because we also have a workout expert's tips for keeping up with your fitness while on the road, including how to game the hotel breakfast buffet. —Adrian Kennedy | 
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