Libby Camps, Maine, is the perfect place to cast off

Our correspondent finds the ideal fishing hideaway in New England

Is Rote the new Bali?

The Indonesian island is in its Goldilocks era. Go before it gets crazy

‘Abysmal’: Farage’s Reform UK suffers another by-election blow

Anti-immigration party hit by candidate’s offensive comments and a progressive coalition

UK borrowed more than expected in May

Deficit of £23.3bn underlines challenge facing Andy Burnham if he becomes prime minister

Soft Japan inflation will not ease BoJ fears of falling behind the curve

Fuel subsidies are keeping price pressures muted for now, but policymakers are signalling another tightening soon

Burnham storms to by-election victory in challenge to Starmer

Greater Manchester mayor defeats Farage’s Reform UK in pivotal Makerfield poll

Transcript: China wanted western tech. Now, the tables have turned. With John Minnich

Soumaya Keynes speaks to John Minnich, assistant professor at the LSE

KPMG Australia accused of ‘culture of fear, retribution’ in bruising hearing

Former head of audit admits to senators the firm accessed whistleblower’s laptop

Six films to watch this week

‘Toy Story 5’ pits Jessie, Woody and Co against screen-based tech; catfishing is used to expose Syrian war crimes in ‘Killing Anna’; a bright new star lights up Welsh drama ‘Effi O Blaenau’; ‘Virginia Woolf’s Night and Day’ is an idiosyncratic adaptation; Steven Spielberg unearths sci-fi secrets in

Transcript: A complicated World Cup for Iran’s diaspora

Marc Filippino talks to Lee Harris and Saffeya Ahmed

A reprieve for gilts

Plus Asian inflation

FTAV’s further reading

Commodities; vaccinations; Brexit; indices; forecasting; trade; cyberbullies; survival

Burnham’s win should worry Farage

Fear of a Reform victory led Makerfield voters — including some 2024 Conservatives — to tactically vote Labour

Rich EU states ‘not an ATM’, Austria warns as budget battle begins

Also: Kaja Kallas won’t ‘fight shadows’ in row over Israel ‘apartheid’ comments

Donald Trump made Iran’s stocks great again

Not the enriched uranium kind of stocks

FirstFT: Labour’s Andy Burnham wins crucial UK by-election

Also in today’s newsletter: Russia’s absent central bank chief and Palantir’s UK foes

Transcript: Kevin Warsh’s first remarks

Robert Armstrong speaks to Katie Martin

Sports Exchange

This series features insights from some of the most influential figures in sports ownership and leadership. In this instalment, Mark Donovan, Kansas City Chiefs president, explains what hosting World Cup matches means for the city and why the team wants to play more games overseas

German electricity grid equipment maker SGB-SMIT in early IPO talks

Company’s valuation could top €4bn as investors focus on AI and data centre boom

The tech giant mining Wall Street for AI cash

Former Goldman Sachs executive Dina Powell McCormick is helping Meta find ways to finance its AI ambitions

Iran’s ships head homeward to Gulf for ‘business as usual’ after US deal

Tracking data shows cargo vessels departing from Malaysian waters as Washington reaches agreement with Tehran

Russian central bank chief’s absence stirs succession talk

Elvira Nabiullina has been a no-show at several recent high-profile events, sparking speculation about a shake-up

Blavatnik’s DAZN overhauls structure for potential new equity or IPO

Lossmaking sports streamer restructures business to make it easier to raise new money

Inside Palantir’s fight over the future of the NHS

Critics question how the tech giant won a showpiece contract. It complains about the politicisation of procurement