The S&P 500’s woes in Trump 2.0
The index has had its worst performance over the past five US presidencies
South Africa’s ANC looks to shore up power as local elections loom
Appointment of contentious politician to manage finances of vital province reveals party’s loosening grip at local level
Peace talks present big test on global stage for JD Vance
Tehran and Washington have never held direct bilateral negotiations
NFL’s media rights stand-off hits a plot twist
Also in today’s newsletter: what Sunderland says about women’s football, cricket’s vote of confidence in the Gulf as a sports hub, and more
Superyacht maker Sanlorenzo rides personalisation wave
Italian group looks to sustain sales boom with hyper bespoke vessels including its latest built around a living tree
JD Vance arrives in Pakistan for ‘positive’ peace talks with Iran
US vice-president says he hopes to build on the fragile 14-day ceasefire
The damage wrought on the Middle East’s oil and gas supplies
Saudi Arabia and Qatar have both suffered significant damage to production capacity during the US-Israeli war against Iran
Only two events have mattered in my 30 years of investing
Markets have shrugged off everything from geopolitics to financial crises
Isa season flops as UK retail investors shun falling stock market
Buyers stayed away during the crucial annual buying period amid pessimism over geopolitical tensions and the global economy
Hungary: the election the world’s big powers want to win
Orbán’s defeat would deprive nationalist conservatives across the world of a champion. Opponents see Sunday’s vote as a chance to halt autocracy
Jacob’s Creek should come in smaller bottles
Relaunch of popular 1990s tipple might need more than nostalgia to stand out from today’s crowd
Inheritance tax weighs on business owners: ‘Will it all be taken away in the end?’
From this week, many businesses can no longer be passed to the next generation free of tax
Royal balm will not rescue the Anglo-American relationship
The King’s upcoming visit to the court of Donald Trump has too much riding on it
Mortgage borrowers seek shorter-term deals as market volatility saps confidence
Flexibility is the watchword among UK borrowers amid signs of slowing activity in the housing market
BP’s proxy fight exposes bugs in shareholder voting machine
On contentious matters, investors are less likely to follow proxies
Yet more reasons to look on the bright side . . .
The science suggests that it is healthier to be wrong and happy than to be pessimistic and right
UK households turn to solar panels as energy bills bite
Fallout from Middle East crisis prompts more people to explore the alternative source of power
The UK police’s latest problem: crowds of unruly teens
Disorder in London and other cities threatens public sense of order, even though it may fall short of widespread criminality
The tragedy of leisure
The combination of AI and small families will create more free time than is good for us
Against all odds, American hospitality prevails
A recent visit reminded me why LA is (still) one of the best food cities in the world
Alexander Kluge, German intellectual, 1932-2026
The writer and filmmaker posed uncomfortable questions about the country’s past
Tofoo co-founder: ‘I’d lost £250,000 in investments before I started the company’
It was fourth time lucky for entrepreneur David Knibbs
The perfect antidote to our tech-addled age? A magic lantern
This arcane projector has been wielded by priests, magicians and phantasmagorists — and still has the power to enchant
How Iran turned to memes to take on Trump
Regime accounts have saturated feeds with snarky online propaganda since US and Israel started bombing campaign