FirstFT: Oil prices jump as Iran war intensifies
Also in today’s newsletter: UK property lender’s collapse and private credit shunned
Banking upstart Barrenjoey merges to make a mini-Macquarie
Barclays to reduce stake in Australian investment bank to 4.9% after sale to Magellan Financial Group
The best of TV and streaming this week
Channel 4’s ‘Dirty Business’ is a five-star drama about Britain’s water companies; ‘Man on the Run’ revisits Paul McCartney’s post-Beatles years; Disney+ reboots hospital drama ‘Scrubs’ — plus ‘The Tony Blair Story’, ‘Inside America’s Next Top Model’ and ‘The Museum of Innocence’. Reviews by Rebecca
People are complacent about risk of financial crisis, says Lloyd Blankfein
Former Goldman CEO says finance industry should plan as though another 2008-style meltdown is coming
Top academics warn UK physics cuts threaten effort to boost economy
More than 50 heads of departments tell science minister that changes risk undermining crucial tech growth fields
Barclays blocked transactions linked to property lender MFS months before collapse
Bank among lenders to have identified issues with Market Financial Solutions after other high-profile failures
The great British electricity puzzle
It turns out that making the transition to clean energy while keeping the price down is hard
Retail investors shun private credit funds after Blue Owl gating
Fears mount that outflows may soon overwhelm inflows to some of largest players
Who will back rate cuts on the FOMC?
If Kevin Warsh is dovish, here’s who will support him — and who will resist
Starmer’s cost of living tsar calls for ‘interventions’ to help households
Iceland boss Richard Walker tells FT he will work with ‘sprint team’ in Downing Street to help lower bills
The ‘stick or twist’ moment for UK banks
Will high street lenders persist with disciplined growth plans or take riskier bets to boost fee income
The best new debut novels — ghosts, down-at-heel aristos and a dead pingpong prodigy
Tales of a spooky Norfolk village, a shamanic Nigerian astrophysicist — plus the ethics of fiction as murderous revenge
Sony battles £2bn lawsuit claiming UK PlayStation users are overcharged for games
Download purchasers over past decade could be eligible for compensation if class action succeeds
What will be in Rachel Reeves’ spring outlook for the UK economy?
Chancellor will aim to project a stable fiscal picture against the backdrop of war in the Middle East
Blacklisting Russian paramilitaries will not work on its own
A foreign terrorist designation without secondary sanctions and sustained pressure is unlikely to succeed
Spain’s Moeve bucks green hydrogen gloom with €1bn project
Group backed by Mubadala and Carlyle to build new plant in Andalusia in boost to beleaguered industry
My top five Thai restaurants in London, by chef Kim Ratcharoen
The head chef at three Michelin star Restaurant Gordon Ramsay shares the spots where the flavours of her homeland really shine
Kyrgyzstan prepares to take EU to court over Russia sanctions
Central Asian country says it is ready to act if it is hit with secondary sanctions over alleged exports to Russia
Suit up! A specialist’s guide to antique armour and weaponry
Military pieces have beguiled cultural figures from Henry Moore to William Boyd — but there is no typical collector
In charts: how Donald Trump became a military interventionist
US president’s Pentagon has been busier during the past 12 months than nearly his entire first presidency
What to pack in your SOS kit
12 emergency essentials for when an adventure goes awry
Paris school streets are raising the global bar for children’s wellbeing
More than 300 streets in the French capital have been redesigned to be traffic-free. The welcome sense of calm is not going unnoticed
How toxic is your sportswear?
Most workout wear that clings to our skin is laden with chemicals. Now, some alternatives are coming to market
The EU’s climate retreat problem: punishing early movers
Green transition pioneers complain they are paying price for rewarding industry laggards