011 Modello 1

Korea weighs inheritance tax based on book value, not market prices

Government proposal aims to curb the alleged suppression of share prices and reduce the ‘Korea discount’

Central bank governor warns that raising rates to tackle inflation could hit already weak economic growth

Chair suggests new entities could be worth as much as $50bn after deleveraging drive

Yemen’s Houthi rebels carry out their first attack on Israel since the war began

Latest series of marches comes against backdrop of president’s unpopular war in Iran

US vice-president still favourite to succeed Donald Trump but secretary of state Marco Rubio is gaining ground

Ministers are struggling to thrash out reforms at the global body that has been buffeted by Trump’s tariffs

Popular destinations in eastern Mediterranean suffer amid ‘generalised anxiety’

Five analysts assess Tehran’s capacity to sustain barrages against Israel and Gulf states

Rebels’ participation puts vital maritime routes at greater risk

They can send wrong signals when trading is illiquid or when herd behaviour takes hold

Developing economies are more dependent on energy

Also in today’s newsletter: NBA expansion, an Indian Premier League sale and more

Marc Filippino talks to Abigail Hauslohner and Katie Martin

Islamabad seeks to capitalise on warming ties with both Trump and Tehran but has much to lose if efforts fail

Financier’s cross-examination this week has been culmination of his legal challenge against regulatory ban and fine

Prime minister says country’s natural gas imports bill has tripled since start of Iran war

The UK relies on energy imports, which are surging in price, but many FTSE 100 companies have benefited from the volatility

Christopher Harborne is among financiers prepared to support a proposed permanent community on the Île du Coin island

A new study suggests that buying into the blather reveals a credulous worker

A long public career found its zenith with his investigation into Russian interference in the 2016 presidential election

While there is a lot of spare crude on ships and in storage, stocks of refined products are much smaller

Large language models elevate expert consensus and moderate views, in sharp contrast to social platforms