Investors need to know you are ahead in the race to destroy humanity
A behind-the-scenes look at the work of Rutherford Hall, critical communications strategist
Nik Storonsky’s plan for Revolut: a global bank with ‘effectively zero risk’
Russian-born founder and CEO talks to the FT about building Europe’s most valuable start-up
German chancellor Merz vows to stay on despite ‘disaster’ in regional elections
Results suggest CDU has crashed out of parliament in Mecklenburg-Vorpommern
Germany’s Merz stands his ground but for how long?
Lessons from elsewhere in Europe suggest once leaders become deeply unpopular, they almost never recover
Is this Indonesia’s next president?
Dedi Mulyadi’s prolific use of social media has helped establish a rapport with voters who see him as a man of the people
US and China agree to dialogue on AI ahead of Trump-Xi meeting
Treasury secretary Scott Bessent met his Chinese counterpart He Lifeng in New York
Letter: Warsh accedes to the inevitable in raising rates
From Emeritus Professor Albion M Urdank, University of California, Los Angeles, CA, US
Letter: Navigating without GPS? I did exactly that in the navy
From Dominic Brittain, Hooke, Dorset, UK
Letter: Science fiction becomes climate change reality
From John Barnie, Aberystwyth, Ceredigion, Wales, UK
Letter: Irish golf links — a legal snail’s trail for Trump foes?
From Chris Fitzpatrick, Dublin, Ireland
Letter: Global economy needs a functioning, healthy ocean
From Shamini Selvaratnam, Director, International Climate and Clean Energy, Ocean Conservancy, Washington, DC, US
Letter: Why Brazil has such a beef with EU import bans
From Gustavo Diniz Junqueira, Former secretary of Agriculture, State of São Paulo, São Paulo, Brazil
Letter: Another benefit of homegrown companies
From Emily Turner, UK CEO of HSBC Innovation Banking, London EC2, UK
Letter: The repo market is vital; we compromise it at our peril
From Bryan Pascoe, Chief Executive, International Capital Market Association, London EC4, UK
Letter: Aviation’s role in goods trade is too often ignored
From David Starkie, Former member of the Airports Commission’s panel of expert advisers, Andover, Hampshire, UK
FT Crossword: Number 18,485
School politics class: Scotland and Wales renew push for independence — using Burnham’s own rhetoric
Devolution
School IB Geography class: How the shipping industry could make itself greener
Global climate
School IB economics: Yen sinks after Bank of Japan raises rates to highest level since 1995
Monetary policy
FirstFT: German chancellor Merz vows to stay on despite ‘disaster’ in state elections
Also in today’s newsletter: Saudi Arabia quits China-led cross-border currency platform and CATL develops pick-up truck batteries for US
School economics class: Iran and Gulf states to meet in push for Hormuz deal
Basic economic problem
Burnham hopes to build bridges with Trump at first meeting
UK prime minister has said he wants to press case for US to help Ukraine with air-defence systems
A UN gathering notable for its absences
World leaders convene in New York for the General Assembly, but not Germany’s Merz, while China’s Xi heads straight to the White House
Lula, Costa, Ruto and Carney: Multilateralism is not idealism, it is a necessity
We need to strengthen our system of co-operation, not replace it