US has burned through ‘years’ of munitions since start of Iran war
Rapid depletion of stockpile including Tomahawk missiles raises pressure on Trump over cost of conflict
Oil pushes above $100 as Strait of Hormuz crisis intensifies
US launches rescue effort after refuelling aircraft went down ‘in friendly airspace’ over western Iraq
FirstFT: Iran’s new supreme leader vows to keep blocking Strait of Hormuz
Also in today’s newsletter: China targets more ‘employment-friendly’ growth, and Honda reports $15bn loss
Investors slash Fed rate-cut bets as Iran war sends petrol prices surging
Traders expect central bank to remain on hold until next summer in blow to Trump’s hopes for lower borrowing costs
Oil pushes above $100 as Strait of Hormuz crisis intensifies
US launches rescue effort after refuelling aircraft went down ‘in friendly airspace’ over western Iraq
Fed to loosen capital requirements for big US banks
Wall Street cheers plans that would water down protections designed to avoid repeat of 2008 financial crisis
Iran’s new supreme leader vows to keep Strait of Hormuz closed
Written statement is first public comment from Mojtaba Khamenei since the start of the war
Uncomfortable moments in private credit
Bad news piles up in non-bank lending
US intervention in oil futures would be ‘biblical disaster’, CME warns
Terry Duffy says any attempt by the government to lower prices using derivatives market would erode confidence
Partners Group sounds alarm on private credit default rates
Chair of Swiss private capital group warns pace could double to above 5% in coming years
How the Iran war will change global business
Damage from the conflict is already having an impact on corporate strategy
An uncomfortable truce in the AI platform wars
Anthropic and Microsoft have struck an alliance on agents but the tussle over the future of the technology will only intensify
Lula! How Brazil made him — and he remade Brazil
Richard Lapper’s richly rewarding biography charts his route from firebrand to pragmatic president
Tesla granted licence to supply electricity in UK
Approval threatens further disruption to retail energy sector after decade of upheaval
UK government under fire over ‘bungled’ crypto Isas policy
Digital investments will be restricted to niche Innovative Finance Isas from next month
Veteran US Democratic Congress member to seek 18th term at age of 85
Re-election bid of Jim Clyburn comes as critics say the US political system has become a gerontocracy
The AI cheating question dividing universities
Plus, the impact of rising oil prices on public finances
Russell Maliphant and Alina Cojocaru beguile in a miniaturist evening at Sadler’s Wells East
The London venue was offered an intimate setting for the veteran dancemaker and former Royal Ballet star
Six films to watch this week
Five stars for rapturous Icelandic drama ‘The Love That Remains’ and delirious Chinese oddity ‘Resurrection’; an Ealing classic reborn as ‘How to Make a Killing’; protests chronicled in ‘Everyone to Kenmure Street’; Jessie Buckley in madcap monster movie ‘The Bride!’; epoch-hopping German drama ‘The
The Love That Remains — rapturous portrait of an Icelandic family in the wake of separation
Hlynur Pálmason proves himself a genuine cinematic artist with a poetic drama that combines the feelgood and the minor-key
Resurrection — delirious oddity will make you wonder if your popcorn has been spiked
Chinese director Bi Gan crafts an entrancing, perplexing, sometimes infuriating film about a dreamer adrift in a dizzying world
Everybody to Kenmure Street — how Glaswegians stood up to UK immigration police
A 2021 case of spontaneous community activism is recalled in a documentary with clear international resonance
Crispin Odey fails to exclude sexual misconduct allegations from court case
Hedge fund founder’s lawyers argued it would be ‘wrong and unfair’ to include details of 46 claims
FT quiz: the week in news
Ten topical questions to test your news nous