Circle clashed with Tether-backed fund over market manipulation concerns
New filings detail long-running legal battle between Heka Funds and the $73bn stablecoin group
FT Crossword: Number 18,426
City leaders chew over Reeves’ successor at Mansion House banquet
Conversations at annual gathering focus on who will take key job of chancellor in new Burnham government
Spain reach second World Cup final with comfortable win over France
Spanish players put on calm and controlled display in 2-0 victory over the tournament favourites
Manic markets show no mercy to IBM
Failure will apparently not be tolerated
FirstFT: Wall Street banks shatter records on AI-stock trading frenzy
Also in today’s newsletter: IBM shares plunge and DeepSeek weighs new fundraising
UK teenagers face midnight curfew on using social media platforms
Addictive features such as autoplay videos and infinite scrolling will be switched off under planned laws
New Zealand PM warns against Ardern-era ‘sugar rush economics’
Ex-Air New Zealand boss says financial discipline has put economy back on track after pandemic and recession
Lucid brings in turnaround advisers as EV sales slump
Saudi-owned carmaker has hired AlixPartners to help ‘strengthen operations’
Miliband trails Mahmood in race to become Burnham’s chancellor
Home secretary emerges as favourite for key role amid criticism of energy secretary’s radical net zero policies
Trump says US to abandon proposed Strait of Hormuz cargo fee
US military launches seventh wave of strikes after the president said he would ‘replace’ fees plan with Gulf investment
Transcript: Everything is awesome for banks
Robert Armstrong speaks to John Foley
IBM shares plunge 25% as customers shift spending to AI
Chief executive Arvind Krishna says company ‘faltered’ as clients raced to buy servers and storage
Everything is awesome for banks
Lenders are riding the tech wave, too
US to fund Trump-aligned Europeans building ‘civilisational bonds’
State department grants of up to $3mn are designed to boost groups pushing Maga-style policies
RIP the US state department
America’s diplomats used to have global sway. Now they are besieged by their own president
Buffett drops Gates Foundation from $6bn Berkshire donation
Billionaire chair of conglomerate shifts personal charity plans after revelations about Microsoft co-founder’s Epstein ties
Trump pays E Jean Carroll $5.6mn in assault and defamation case
Funds president owed had been in a government account as he appealed against the verdict and judgment
Brinkmanship in the Strait of Hormuz
America’s president is trapped, but Tehran is overplaying its hand
US banks results as they happened: Wall Street banks post blockbuster profits as equities trading booms
JPMorgan, Goldman, Citi and BofA kick off earnings season with strong results
European defence groups plan interceptor system to destroy missiles in space
Programme intended to plug gaps in air defence and will draw on lessons from war in Ukraine
Warsh does not hint at July tightening in Congress testimony
Fed chair suggests inflation was his main concern but stopped short of signalling imminent tightening
AkzoNobel’s merger of equals looks distinctly second-best
Investors do not seem to think the Dutch company will extract blockbuster value from its planned tie-up
US inflation fell more than expected to 3.5% in June as petrol prices tumbled
Traders rein in bets on Fed rate rises as easing energy costs help tame price surges spurred by Middle East war