Depleted oil reserve leaves US exposed as Iran war pushes up prices
Donald Trump has not fulfilled a vow to refill the Strategic Petroleum Reserve that was drained by Joe Biden
US considers tying Nvidia and AMD AI chip exports to foreign investment pledges
Draft rule would require countries to invest in America in exchange for advanced semiconductors
Trump says he must be ‘involved’ in choosing Iran’s next leader
President says the US would not accept Ayatollah Ali Khamenei’s son Mojtaba as supreme leader
UK police search journalist’s home in China spy probe
Labour suspends Joani Reid, the MP whose husband David Taylor has been arrested in the counterterrorism probe
Gulf states could review overseas investments to ease strains caused by Iran war
Three leading Middle East economies consider options as US-Israeli campaign against Tehran continues
FirstFT: Donald Trump has no plan for Iran war aftermath, says US senator
Also in today’s newsletter: China cuts growth target, and Europe-to-Asia air travel squeezed
Industry doubts Trump plan to insure Gulf oil tankers as Iran war halts transit
US lacks firepower to provide $350bn in coverage needed to revive Strait of Hormuz transits, JPMorgan says
The case against stablecoins
Is there anything really new about them?
Europe-to-Asia air travel squeezed into narrow corridor after drone attack
Drone attack on Azerbaijan puts further pressure on western airlines
US states sue Trump administration over new tariffs
Democratic attorneys-general say president exceeded authority after Supreme Court struck down original levies
Iran crisis shines spotlight on ‘threadbare’ Royal Navy
Delay in deploying HMS Dragon to Cyprus has triggered criticism of UK’s defence capability
Trump fires controversial homeland security secretary Noem
DHS leader was seen as responsible for the administration’s heavy-handed immigration crackdown
US oil hits highest price since 2024 as Middle East war escalates
Azerbaijan says it was struck by Iranian drone on sixth day of conflict
Greg Abel starts Berkshire’s first share buyback of post-Buffett era
CEO’s move comes with company’s holdings of cash and short-term Treasury bills at a record $373bn
Iran turns to cheap drones as US and Israel target missile launchers
Shahed and other projectiles dominate Tehran’s retaliation
Thousands flee Beirut after sweeping Israeli evacuation order
Israel orders area of hundreds of thousands of people cleared as war rages with militant group Hizbollah
Nissan warns of Sunderland closure if UK excluded from ‘Made in Europe’ rules
EU proposals presented on Wednesday require vehicles for corporate fleets and small EVs to be assembled within the bloc
The AI PR problem
Sector companies have been slow to address the concerns of ordinary people over the technology
Lessons from Anthropic’s battle with the Pentagon
Guardrails around the state’s use of AI warrant deeper and democratic deliberation
Bankers’ bumper year for IPOs isn’t quite going to plan
With volatility high, few companies hoping for a credible first-day performance want to brave choppy waters.
Germany secures US sanctions exemption for Rosneft refinery
Move spares Berlin from risk of major fuel supply disruptions
Saba Capital offers steep discount for Starwood real estate shares
Hedge fund seeks stake in fund that sharply limited investor redemptions in 2024 at 20% haircut
Glencore wades into battle for former FTSE miner
Swiss group proposes to support Shakhmurat Mutalip, who is close to finalising deal for a stake in Eurasian Resources Group
China sets cautious climate goals in five-year plan as coal remains core
‘Underwhelming’ target leaves room for increase in energy and industry emissions in years to 2030, experts say