Donald Trump urges narrow AI regulation amid fierce Maga backlash
White House tries to block state-level laws but faces pressure to offer a federal rule book for the controversial technology
UK borrowing costs hit highest level since 2008 amid inflation shock
Ten-year gilt yield jumps above 5% as borrowing numbers add to concerns over energy price surge
New rises in UK mortgage rates ‘very likely’ amid inflation fears
Lenders rapidly reprice fixed-rate deals, with yet more rises expected
The best books of the week
From Rana Dasgupta on empire to the directors who changed the movies — plus new stories by Colm Tóibín, Mossad’s mystique and a myth-busting guide to recessions
A prosperous Britain means facing up to trade-offs
Yes, yes, and yes again to reform of our appalling planning system — but politicians require help to make hard choices
Why is the Iran crisis pummelling the gilts market?
An inflationary energy shock has drained optimism over UK rate cuts and hammered popular hedge fund trades
Two arrested after attempt to enter UK nuclear submarine base
Man and woman, one believed to be Iranian, held after approaching Faslane
Angela’s ambitions
Plus: Ed Luce dials Trump
Supermicro drops 28% after co-founder charged with smuggling Nvidia chips to China
US prosecutors allege two employees and a contractor conspired to illegally ship servers through south-east Asia
Goldman’s chief warns private credit risks show cycle ‘has not been repealed’
David Solomon’s comments in annual shareholder letter underscore Wall Street’s wariness around non-bank lending
IRA victims withdraw civil case against Gerry Adams
Three survivors had sought £1 in damages over claims that ex-Sinn Féin leader was senior leader of paramilitary group
FTAV’s Friday chart quiz
Bohemian Graphsody
Unilever in talks to sell food division to spice and sauce maker McCormick
Consumer goods giant working to offload unit worth tens of billions of dollars as it pivots to beauty and personal care
UK regulator to probe collapsed mortgage lender MFS
Investigation follows failure of Mayfair-based lender and linked companies owned by founder Paresh Raja
Pressure grows on Starmer to drop EU ‘red lines’
Some senior Labour figures want the party to drop promises not to rejoin customs union or single market
Rahm Emanuel and the 2028 ‘ideas primary’
Obama’s former chief of staff has the thickest résumé of any potential candidate for the Democratic nomination
Transcript: Lessons from China’s industrial dominance, with Kyle Chan
Soumaya Keynes speaks to Kyle Chan, fellow at John L Thornton China Center of Brookings Institution
Iberian blackout prompts calls for Europe-wide grid reforms
Report into last year’s catastrophic outage says the problem did not lie with solar and wind power
Macquarie and Chinese fund explore sale of £1bn stake in UK gas network
Australian asset manager revives effort to sell stake in Cadent it explored two years ago
Transcript: The Fed’s juggling act
Katie Martin speaks to Robert Armstrong
Iran war is the greatest threat to global energy ‘in history’, warns IEA
Agency’s head Fatih Birol says recovery of oil and gasfields in Gulf region could take more than six months
RedBird founder Gerry Cardinale: ‘We’re putting our money where our mouth is’
The private equity investor on the $110bn buyout of Warner Bros, his failed acquisition of the Daily Telegraph — and the highs and lows of owning AC Milan
UK household energy bills expected to rise by £332 as Iran war drives up prices
Price cap is forecast to rise 20% in July to highest level since 2023