US says it has agreed deal with Iran to halt strikes and resume talks
Tehran yet to confirm end of tit-for-tat attacks that threaten fragile truce in Strait of Hormuz
BT and Verizon to create new international business in $625mn deal
New 50:50 venture will be milestone in UK group’s strategy of refocusing on its domestic operations
Samsung and SK Hynix plan $590bn chipmaking expansion
Companies to invest alongside South Korean government in factories to meet surging demand for memory chips
AInflation is real but tiny
Plus, European stocks ain’t cheap
Artificial intelligence and Engels’ Pause
Politics could be a bigger constraint than power and compute
European producers press Brussels to shut Russian aluminium loophole
Also in this newsletter: Pharma sector push EU to close life sciences funding gap
How Citadel became an energy giant
Plus, Venezuela’s huge debt pile, Japanese IPO slump and Constantin Brâncuşi in Berlin
FTAV’s further reading
Vermeer; Western Asset; Lincoln v cotton; digital services taxes; perps; Andy Burnham; and Treasury exposures
FirstFT: Burnham’s ‘growth in every UK postcode’ plan
Also in today’s newsletter: Russia’s fuel shortage and Europe’s low gas stocks
Warsh’s Fed communication is adding volatility to rates markets
The downsides of seeking more fundamental information from markets will be in greater surprises
Indonesians sour on Prabowo as currency weakens
Student-led protests are emerging as the economy falters and corruption allegations hit welfare programmes
The best of TV and streaming this week
‘Life, Larry and the Pursuit of Unhappiness’ puts Larry David at the centre of history, ‘House of the Dragon’ ups the pace for third season and more. Reviews by Rebecca Nicholson
Transcript: AI wakes up the sleepy US power sector
Sonja Hutson talks to Jamie Smyth and Aime Williams
How Vinícius Júnior became central to Brazil’s World Cup dream
Real Madrid winger holds key to Brazil’s hopes of winning first world title since 2002
Westminster braced for another act in Miliband brothers saga
Andy Burnham may bring David Miliband back into the fold after a 13-year absence
Stray Ukraine drones worth the price of hitting Russia, says Estonian minister
Margus Tsahkna asserts that EU negotiations with Moscow are premature
Europe risks starting winter with gas stocks at 15-year low
Storage facilities in the EU are not being refilled fast enough ahead of colder months
The ONS: an Outrage of National Significance
The UK statistics agency plays a vital role but has been beset by errors and poor leadership
Virgin Media O2 bonds slide as broadband rivals squeeze cash flow
Telecoms group’s bonds tumble as altnets take market share and investors fret over £2bn Netomnia deal
Freight shipping costs surge as companies race to beat new Trump tariffs
Rates reach highest since 2024 Red Sea crisis in anticipation of fresh levies from US
UK poised to act over Iran sanction breaches
Enforcement agency expects increase in maximum fines in the coming months
The new AI-based world order
A single factor is now dictating the hierarchy of global returns
Gazans turn to clay and rubble to build new homes
Palestinians construct makeshift mud huts to escape life in flimsy tents amid Israel’s ban on concrete and steel imports
Volkswagen’s brutal jobs cull sparks prospect of sale of crown jewels
Manufacturer squeezed €10bn valuation from cloak-and-dagger Everllence auction but may need more to fund restructuring