SpaceX strikes $60bn deal to acquire AI start-up Cursor
Elon Musk’s rocket and AI conglomerate is seeking to catch up to rivals OpenAI and Anthropic
Iran accuses US of violating international law over vessel seizure in Gulf of Oman
Iran’s ambassador to UN also accused Washington of ‘continuing internationally wrongful acts’ that breached ceasefire agreement
Hormuz disruption raises risk of global food shock, traders warn
World ‘on borrowed time’ to avert crisis as higher gas prices squeeze fertiliser production
Trump extends Iran ceasefire as peace talks hit impasse
President’s latest mixed signal comes as US sends more troops to region
United Airlines slashes profit forecast as price of jet fuel surges
Company curbs full-year expectations despite record first-quarter sales as Iran war pushes up costs
Deutsche Telekom examines merger with T-Mobile US
Combined company might seek a listing in the US and Europe
FirstFT: Donald Trump extends Iran ceasefire amid peace talk uncertainty
Also in today’s newsletter: Japan lifts ban on lethal arms exports, and CATL claims 1,500km range for new EV batteries
Transcript: Trading disruption
Katie Martin speaks to Robert Armstrong
JetBlue pressed by US lawmakers over suspected surveillance pricing
Deleted airline post on social media suggested a customer could see better airfare by clearing browser history
Peru elections chief resigns as vote count continues nine days after poll
Piero Corvetto steps down as candidates advancing to presidential run-off in June remain unclear
Trading disruption
Reporting from the FT Commodities Global Summit 2026
Warsh sidesteps questions over Trump’s influence on Fed rate policy
Nominee to head US central bank grilled by senators over president’s public calls for cuts
Elite law firm Sullivan & Cromwell admits to AI ‘hallucinations’
Firm whose partners bill more than $2,000 per hour apologises to judge for software-driven errors in bankruptcy case
Starmer’s political woes deepen as Mandelson scandal saps his authority
Ministers and Labour MPs appear to be losing sympathy for prime minister
John Ternus is probably 50 years old
Some facts about Apple’s new chief executive
Warsh signals evolution, not revolution at the Fed
The nominee for chair of the central bank wants regime change, but at a slow and deliberative pace
Robbins says Downing St pressured him to approve Mandelson appointment
Sacked head of Foreign Office said there was ‘dismissive attitude’ to security vetting of former ambassador
Iranian tankers bypass US blockade
Dozens of ships exiting the Gulf include several loaded with Iranian oil
Lufthansa cuts 20,000 flights to save fuel as prices soar
Move comes as European transport ministers gather to discuss plans to prevent region running short of jet fuel
Britain’s prime minister is in power without purpose
Latest Mandelson scandal has left Starmer in limbo until his MPs decide his fate
School economics: Singapore tightens monetary policy as energy shock hits Asia
Macroeconomic objectives
UnitedHealth boosts 2026 earnings guidance after increasing prices
Shares in US healthcare group jump as it steadies itself after turbulent period that led to departure of previous CEO
Federal Reserve hearing as it happened: Senators grill Federal Reserve chair nominee Kevin Warsh on independence from Donald Trump and personal wealth
Donald Trump’s pick to lead central bank tells lawmakers independence of rate-setters is not ‘particularly threatened’
City firms relax office-working policies as Tube strikes hit London
Companies including Amazon and JPMorgan have eased requirements as drivers stage two 24-hour walkouts