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Indian weight-loss market becomes ‘bloodbath’ as drugmakers pile in

Consumers await cheaper generics after expiry of patent for Ozempic ingredient

Donald Trump warns Tehran not to ‘blackmail’ Washington

Power and developments

Exchange rates

Planned launch of government-backed app creates uncertainty

A shake-up of the NEC after May’s local election could remove a barrier to Greater Manchester mayor’s leadership ambitions

Previously unknown organisation has claimed responsibility for attacks on Jewish targets and Iranian dissidents across Europe

IMF/World Bank spring meetings hear warnings that some developing countries may require additional lending

New system has sparked fears it could turbocharge hacking and expose weaknesses faster than they can be fixed

WLFI has fallen after the disclosure of a loan linked to the token and criticism from one of its biggest backers

Rising popularity of deals highlights intense investor demand for esoteric debt secured by cash flows

New government must establish rule of law to secure trust of citizens — and billions in development aid

Bonds have not been a good hedge during the war

After going to war twice, the US president is again trying to strike a deal on the regime’s uranium enrichment programme

Also in today’s newsletter: Spurs on the brink of unprecedented relegation

Michela Tindera talks to Jamie Smyth, Scott Sheffield and Bryan Sheffield

The aspiration gap has turned everyone into losers, especially graduates

Rise in domestic tourism could provide relief for rural hospitality businesses struggling with higher costs

Struggles to sell even in popular areas are a timely reminder of the challenges created by high interest rates

Many brands yanked up prices. Then millions of customers left

Rolex, TAG Heuer, Patek Philippe, Audemars Piguet and Hermès lead the charge in Geneva

The Chicago-born pope has offered an alternative vision of Catholicism — and American power

Her voice soothed, seduced and helped define the Indian nation over an eight-decade career