US and Iran exchange fire for the first time in more than a month
Oil prices rise after American military hits an island in the Strait of Hormuz and Tehran retaliates in Jordan
FT Crossword: Number 18,467
Nepal rescue effort intensifies with more than 3,000 missing
Authorities warn rising water levels could complicate recoveries as confirmed deaths exceed 800
FirstFT: Big Tech profits get $160bn windfall from stakes in other AI companies
Also in today’s newsletter: Nepal rescue effort intensifies and the increase in global bond yields
Ukraine’s ex-defence minister touts ‘new history’ in war against Russia with planned tech fund
Mykhailo Fedorov seeks western capital to build and manage weapons development companies he says will help Kyiv resist Moscow
Economics class: teaching ideas
Read a selection of FT articles picked by our panel of school advisers
Brexiters’ effort to resettle Chagos Islands hit by lack of proper boat
Nigel Farage-backed expedition is part of attempts to block UK’s contentious deal giving sovereignty over the archipelago to Mauritius
Big Tech profits get $160bn boost from gains on stakes in other AI companies
Analysts say large paper windfalls on investments in OpenAI, Anthropic and SpaceX have muddied the tech sector’s earnings metrics
Niger regains control of military base after coup attempt
Disgruntled soldiers who launched attack detained in capital
Return of the politicians
US jobs data shines light on world’s biggest economy, Shein finally lists in Hong Kong, Massachusetts primaries expose fractures within Democratic Party
Americans feel they have lost their agency
People increasingly blame large corporations for the sense that they have ever less control over their own lives
Claridge’s operator bets on US and UK visitors to offset Middle East
Maybourne chief executive says it has ‘proactively pivoted’ to other areas to counter drop in Gulf bookings
Iceland rejects talks on EU entry
‘No’ vote prevails in knife-edge referendum prompted by Donald Trump’s threats to annex Greenland
Burnham tightens prisoner release scheme and insists he is ‘tough on crime’
Prime minister had faced criticism over moves to avert overcrowding in prisons in England and Wales
Nasa launches $4.3bn space telescope to scan universe
Roman Space Telescope expected to help explain dark matter while discovering thousands of planets beyond our solar system
Controversial Venezuelan executive courts investors after Trump oil deal
Alejandro Betancourt is the US’s primary partner in a company that will control more than 65bn barrels of oil reserves
Meta’s settlement is a starting point
Governments can use it as leverage as they mull social media bans for minors
Friends with fiscal benefits
Cross-class friendships appear to be one of the strongest predictors of upward mobility for people in low socio-economic groups
Will the Fed’s hawkish stance survive contact with jobs data?
Market Questions is the FT’s guide to the week ahead
School IB economics: The hottest rave this summer? Just add caffeine
Competitive market equilibrium
‘New York loves Canada’: US cities want their Canadian tourists back
American tourism businesses try to overcome cross-border travel boycott over Trump administration’s hostility to its northern neighbour
Pharma stocks soar as investors seek AI alternatives
Pricing deals with the White House and positive clinical data boost sector
CEO of India’s largest private bank to step down
HDFC Bank chief’s exit will come just months after chair departed, citing ‘ethical differences’
What’s the fiscal hit from higher yields?
A long answer to a simple question