Democrats are not in great shape
A fractious opposition is doing everything it can to spurn an open goal
Oil hits $87 as battle for Strait of Hormuz alarms energy markets
Stocks and bonds hit by higher oil price as fears rise over renewed inflation shock
UK borrowing costs hit highest level since May as oil surges
Ten-year yield back above 5% just days before Andy Burnham set to become prime minister
Boomers, not Gen Z, are the generation cutting back most on alcohol
New research overturns assumption that abstinent younger drinkers are behind weak demand
FirstFT: Chinese car exports surge
Also in today’s newsletter: oil surges above $85 a barrel and Wall Street’s ‘Super Tuesday’
DeepSeek weighs new fundraising a month after closing first round
Unusually swift pace of capital injection comes as Chinese AI start-up seeks to build out infrastructure
The payments darling in Trump’s crosshairs
US tariff threats against Brazil over payments platform Pix provoke a political storm ahead of elections
Are these the greatest crisps on earth?
First Brets overtook Lay’s – now it’s got its sights on Walkers
World Cup shows US is ‘golden market’ for football, says Major League Soccer boss
Tournament has generated record US television viewership for football
We are not on course for a Nato divorce — yet
The best possible case is US support in the short term and European rearmament over the next two to three years
Watches of Switzerland defies luxury slowdown with strong US sales
High-end timepieces retailer reports 13% jump in sales to £1.83bn
JPMorgan profits soar 41% on blockbuster trading revenues
Goldman Sachs, Bank of America, Citigroup and Wells Fargo all also have results on Tuesday
ECB recruits digital euro critics for pilot
Deutsche Bank, DZ Bank and Groupe BPCE among 36 institutions selected for test of digital currency next year
Andy Burnham’s theory of government
His commitment to reining in outsourcing reflects his frustration at poor accountability
FTAV’s further reading
Starlink; development; inflation; ETFs; refunds; football; area trade journalist careers
BP cuts net debt after Iran war drives oil price surge
Higher prices help cut borrowing as oil major tries to show financial discipline under new boss
India presses banks to court diaspora for deposits to support rupee
Foreign exchange reserves have dwindled by $54bn since start of Iran war
How QE changed banks, and why that makes QT dangerous
An interview with Jill Cetina
Transcript: Dubai wants to bypass Strait of Hormuz
Marc Filippino talks to Nicolas Parasie and Michael Pooler
US launches air strikes as Iran targets tankers with cruise missiles
Donald Trump demands 20% fee on cargoes passing through Strait of Hormuz
SoftBank’s Son ridicules AI critics for ‘spitting upwards’
Business leaders unwilling to embrace technology ‘should play the role of spouse’, says controversial investor
Serbia’s Vučić urges EU to admit Western Balkan states as a group
Also in this newsletter: the EU is not doing enough to shield farmers, says Spain’s agriculture minister
You should be glad your boss is so well paid
Because it probably means you’re being paid well too
China’s growth: five things to watch as economic pressure mounts
Monthly indicators show weakness in retail sales and investment ahead of second-quarter figure