Starmer set for vetting showdown with ‘heartbroken’ Olly Robbins
PM will address House of Commons on Monday amid dispute over whether officials should have shared details of Peter Mandelson’s security checks
China sends warships to Pacific as Japan tensions grow
Tokyo joins annual US-Philippine military drills and is deploying troops, ships and aircraft
The Mandelson affair is about the government’s judgment, not process
Discussion of vetting and procedure is part of the excuse but not the core of the difficulty
UniCredit steps up pursuit of Commerzbank with new plan
Andrea Orcel says German lender risks becoming ‘increasingly unfit’ for rapidly changing banking market
Japan issues tsunami warning after major earthquake
Warning for wave up to 3 metres high on north-eastern coast
Kevin Warsh: Trump’s next fall guy at the Fed?
The nominee to lead the world’s most powerful central bank wants big changes. But there’s risk of confrontation with the president over interest rates
William Hill owner in takeover talks with gaming operator Bally’s Intralot
Evoke in talks to sell itself after taking a hit from UK tax rises on gambling
UK, US and global politics: what students should know
Read FT articles picked by our teacher advisers
Oil rebounds as Iran threatens to retaliate for US attack on cargo ship
Hopes for peace deal fade amid uncertainty over possible talks in Pakistan this week
Starmer battles for Downing Street future amid Mandelson vetting scandal
Prime minister’s statement to MPs will come ahead of testimony from sacked Foreign Office head Olly Robbins
Yes, tokens do have real uses in finance
Tokenisation is taking hold in areas including money, bonds, gold, funds, real estate and private equity
US navy seizes Iranian ship after it breaches blockade
Oil price jumps as Washington and Tehran give conflicting accounts of whether new peace talks are set to begin
The looming battle over the Fed’s balance sheet
What will Warsh choose?
FTAV’s further reading
BDCs; courts; traders; faith; 🤯; local elections; computers
US stablecoins pose danger to emerging markets, say central bankers
Growth of dollar-pegged crypto assets under Donald Trump risks accelerating dollarisation and enabling criminal misuse
Wealth advisers made billions from private capital fees
Plus, RIP Mark Mobius, BlackRock cools on Europe and Jasper Johns in Bilbao
Why Moscow-friendly Radev is unlikely to become Bulgaria’s Orbán
Also in this newsletter: EU fraud watchdog warns of surge in AI-driven complaints
Private credit gets the once-over
Do you want the bad news or the bad news?
FirstFT: Starmer fights for his future
Also in today’s newsletter: US seizes Iranian ship and Sweden says Russian economy is faltering
The best of TV and streaming this week
‘Euphoria’ reaches new lows; Elle Fanning stars in OnlyFans dramedy ‘Margo’s Got Money Troubles’; ‘Malcolm in the Middle’ return. Reviews by Rebecca Nicholson
Risk Management: Financial Institutions
The soaring level of US government debt; how AI is increasing the speed and depth of cyber attacks; and geopolitical shocks have highlighted the need for diversity in cloud providers
Transcript: Opus Dei, Ep. 4 — The closest tabernacle to the White House
How Opus Dei became a key pillar of conservatism in Washington
LACMA’s new David Geffen Galleries — insanely expensive but utterly astonishing
Breaking every rule of museum design, architect Peter Zumthor has created a $724mn blockbuster for Los Angeles
Oil prices set for more turbulence in months ahead, warns Gunvor chief
World’s fourth-largest independent crude trader says markets may be ‘very choppy’ between April and June