Trump says ceasefire still in effect after US and Iran clash
UAE intercepts Iranian drones and missiles while Washington launches strikes after Tehran attacked American destroyers
UK monetary policy surprises are relatively large and getting larger
The market is reacting more strongly to rate decisions by the Bank of England than those of its peers, signalling potential communication issues
Paying with your face will become mainstream, says Korean fintech group
Toss aims to ‘eliminate physical credit cards’ in South Korea in three years
Transcript: The Buy America trade
Katie Martin and Robert Armstrong discuss the buoyant earnings and how the Middle East conflict could weigh things down
Multinational back offices choke India’s IT services
Also in this newsletter: government steps in to help war-affected companies
Labour suffers heavy early local election losses as Reform surges
More than 5,000 council seats are up for grabs in England, as parties also vie for control of the Scottish parliament and Welsh Senedd
Middle East crisis day 69 as it happened: US and Iran clash in Hormuz as ceasefire comes under strain
Washington says it launched strikes after Tehran attacked American destroyers
Letter: The case for mandatory allocation of pension investments
From Tim Levene, Chief Executive Officer, Augmentum Fintech, London EC1, UK
Letter: Pharaonic erasure had one consolation for Ramesses
From Edward Tenner, Plainsboro, NJ, US
Letter: Why Russia’s presence at Venice Biennale is so vexed
From Federico Forni, London SW15, UK
Letter: Europe has other reasons for its quarrel with the US
From Zaki Laïdi, Professor at Sciences Po, Paris, France
Trump claims victory, again
Letter: Apple’s debt stance rooted in financial pragmatism
From Zaid M Belbagi, London WC1, UK
Letter: I’ve learnt that university is not for everyone
From Richard Ross, Chairman Rosetrees CIO, London HA8, UK
Letter: Meta AI or FT headline writers? Take your pick
From Dora Henry, Stratford-upon-Avon, Warwickshire, UK
Tech boom brings emerging markets and their rich cousins closer together
Asian manufacturers supplying the picks and shovels of the AI bonanza could be on a more durable footing
ERG faces semi-nationalisation in boardroom showdown
Kazakh government official to be proposed as new chief executive in upcoming vote at privately owned mining group
Trump’s 10% global tariff ruled illegal by US court
Court of International Trade says levies applied under Section 122 of trade act are ‘unauthorized by law’
FT Crossword: Number 18,367
Trump extends EU trade deal deadline while issuing fresh threat
The US president says he will hit the bloc with ‘much higher’ tariffs if it does not implement agreement by July 4
Hour-by-hour guide to the UK’s election results
Stephen Bush breaks down the contests that are set to confirm Britain’s shift to seven-party politics
FirstFT: China gives two former defence ministers suspended death sentences
Also in today’s newsletter: Japanese stock market hits record high and the EU prepares for ‘potential’ talks with Putin
McDonald’s warns of price pressures from rising beef and energy costs
Fast food group beats expectations but executives say rising expenses are constricting cash flows for franchisees
The Buy America trade
The rebound is real. Will it last?