Sovereign funds move from public markets to private to ride AI wave
High concentration in stock markets and national security concerns send SWFs to private credit and infrastructure
FT Crossword: Number 18,412
Putin says Russia faces fuel shortages as Ukrainian drones strike refineries
President’s comments are first admission that Kyiv’s long-range attacks have dented production
FirstFT: AI ‘exuberance’ threatens the global economy, BIS warns
Also in today’s newsletter: Aramco helicopter crashes at Saudi port, and Indian snack giant Haldiram’s preparing European expansion
Royal Navy scraps frigate plans to focus on drone warfare
Move comes as Andy Burnham, the likely next prime minister, commits to forthcoming military spending plan
Andy Burnham sets out ‘10-year mission’ to raise living standards
Prime minister-in-waiting will also pledge to go further on devolution as scrutiny grows over his likely policies
Grim legacy of ‘Chavismo’ hinders Venezuela’s earthquake response
Socialist regime’s US-backed leader is facing a crisis as anger mounts over inadequate rescue efforts
Airlines brace for up to $127bn in extra costs from carbon credit shortage
Emirates could have highest expense because of reliance on long-haul flights, MSCI Carbon Markets says
Ebola-hit DR Congo lead minnows into World Cup knockout stages
Central African team defy odds to progress alongside Cape Verde and Bosnia and Herzegovina
Aramco helicopter crashes at Saudi port
At least 14 killed in Ras Tanura incident just hours after US-Iran strikes threaten fragile deal to reopen Strait of Hormuz
US dominates news as 250th anniversary celebrations approach
Plus, Andy Burnham is centre stage with a speech on his economic plans, Wall Street tech IPOs and US labour figures
School geography class: Swiss voters weigh world’s first population cap
Population change
School geography class: Venezuela earthquake death toll climbs amid anger over slow response
Natural disasters
UK, US and global politics: what students should know
Read FT articles picked by our teacher advisers
School politics class: How Keir Starmer was undone by caution and no clear plan
PM and executive
School IB economics: Apple increases MacBook and iPad prices by 20%
Market power
Heathrow’s £33bn expansion is ‘like a luxury Mercedes’, says airline group boss
Head of Star Alliance warns of ‘eye-watering’ costs of third runway project
Don’t allow Congo’s leaders to trample its constitution
The US should not look the other way as President Tshisekedi seeks an illegal third term
Starmer seeks to ensure legacy before Burnham ascends
PM focuses on ‘making arguments’ about his domestic policies as he battles to avoid embarrassing rise in NHS waiting lists
Ukraine’s vibe shift is bad news for Russia’s economy
As Kyiv’s battlefield fortunes change, policies long favoured by the west could now do real damage to Moscow
Germany’s important pension reform plan
An ambitious move that could have positive Europe-wide implications
US and Iran exchange strikes as ceasefire falters
Truce under pressure as Tehran counters US attacks by targeting military installations in Bahrain and Kuwait
Who’s next in Trump’s campaign of retribution?
A number of US lawmakers and officials are being investigated by the justice department
Robots, not chatbots, will realise AI’s potential
Factory-floor applications of the technology could significantly enhance rich-world economies