Trump’s threats to pull out of Nato leave alliance exposed
Also in this newsletter: Greek fraud investigation zeroes in on government members
A peek into who owes what and to whom
Striking a chord
Transcript: Trump says the Iran war may be ending soon — mission accomplished?
Gideon Rachman talks to Philip Gordon of the Brookings Institution
Transcript: The shifting geopolitics of Trump’s tariffs
Sonja Hutson speaks to William Sandlund, and Marc Filippino talks to Gideon Rachman
FirstFT: Trump threatens to hit Iran ‘extremely hard’
Also in today’s newsletter: conflict’s business winners and Gulf pipelines
Vulture funds circle private equity
Distressed-debt funds see a potential bonanza in the downturn in private credit
Italian leaders call for football chief’s head after World Cup humiliation
Azzurri fail to make third-straight men’s World Cup after humiliating loss to Bosnia and Herzegovina
World’s top energy traders wrongfooted in early days of Iran war
Oil traders that normally thrive on volatility caught out by scale of crisis as energy shock unfurled
From Lockheed to start-ups, arms makers jostle for Iran war orders
Middle East conflict holds out promise to bring another windfall for defence groups as governments restock arsenals
Gulf states consider new pipelines to avoid Strait of Hormuz
Conflict prompts countries to revisit plans that replicate Saudi Arabia’s East-West pipeline despite huge cost and complexity
Poolside hunts data centre partners after CoreWeave deal falls through
AI start-up held talks with Google and other cloud providers in bid to revive ambitious 2-gigawatt Texas project
Ofwat poised to waive Thames Water fines to 2030 under deal
Clock is ticking on approving creditors’ emergency offer for utility as October deadline looms
Car park collapse is a warning to leaseback-loving retailers
UK supermarkets that sell and then rent back their property should take note of NCP’s failure
The global wave of energy rationing
Governments from Bangladesh to Zambia impose measures to cut fuel demand as Middle East conflict cuts off flows
Trump’s protectionist Nixon redux takes a darker turn than the original
Tricky Dick’s trade and currency war gave way to a pivot towards the multilateral
UK bank capital rules are becoming a drag on growth
Reforming the capital regime would unlock meaningful lending capacity and strengthen Britain’s competitiveness
NHS staff boycott Palantir’s data platform over ethical concerns
Controversial US tech group was awarded a £330mn contract in 2023 to collate hospital and patient information
UK has ‘limited’ defences against ballistic missile threats, warns ex-RAF official
Former commander of Britain’s ground-based air defences also says the £1bn earmarked for investment is insufficient
Auctioneer Phyllis Kao talks taste
The Sotheby’s star on stage presence, the San Francisco Giants and selling a $45mn stegosaurus
Apple at 50: how Asia fuelled its rise to the top
Japanese industry and Chinese manufacturing prowess played roles in the tech giant’s success, with consequences for both
How did I end up here? — Nigella Lawson’s first FT column
A defence of food writing (and a recipe for rice pudding) as Nigella returns to her alma mater newspaper
Why the Vatican is at war with Maga
Trump and Peter Thiel have managed to unite the disparate factions of the Catholic Church against an earthly enemy
Muskism: A Guide for the Perplexed — and how tech turned to oligarchy
Quinn Slobodian and Ben Tarnoff pinpoint the SpaceX entrepreneur’s clever leveraging of state support to exert influence over government itself
Wear in the World: And the bride wore white
White isn’t traditional for Indian brides. Now, some are putting a modern stamp on an ingrained wedding tradition