Global stocks fall and oil prices climb
Asian memory chipmakers lead declines as clashes over Strait of Hormuz put investors in ‘risk-off’ mode
Nippon Paint offers €7.5bn for Akzo unit in attempt to gatecrash rival deal
Japanese group makes bid for decorative coatings business that includes Dulux brand
US launches more strikes on Iran as ceasefire teeters
Fighting escalates as Trump insists Strait of Hormuz remains open while Tehran says it is closed
In defence of . . . prediction markets?
Turning everything into a wager can get ugly, but has its upsides
FTAV’s further reading
Hong Kong; change; Montenegro; Albania; housing; hell
EU urged to follow its own rules and ban trade with Israeli settlements
Also in this newsletter: No ‘single measure’ will protect kids online, says justice commissioner
Why global investors are tussling over UK companies
Plus, Japan pension fund urged to invest at home, investors cut back on Asian chipmakers and Roy Lichtenstein: Like New
FirstFT: US-Iran ceasefire teeters
Also in today’s newsletter: Bumper investment banking gains and UK council homes
Dimon pressed over whether he lobbied UK government on Epstein’s advice
US Senator Elizabeth Warren demands JPMorgan boss explain any links with paedophile over proposed tax on bankers’ bonuses
Transcript: Citigroup’s ruthless remake
Saffeya Ahmed talks to Akila Quinio and Ortenca Aliaj
A life-changing bond and a pulpy space opera — our new graphic novels round-up
A bond forms between a girl and a man dying of Aids in The Nightingales, and culture flourishes in a Nazi concentration camp in Sophie Herxheimer’s Ode to Joy
Mastercard examines sale of UK payments subsidiary Vocalink
Discussions to sell majority stake back to British banks come as unit seeks contract to develop next-generation platform
The Westies — an elegant gangland thriller stuffed with robust plot twists
JK Simmons leads a richly detailed story of warring Irish and Italian crime families in early-1980s New York
Speeding up digital finance shift ‘could deliver £33bn boost’ to UK economy
Chair of new task force predicts ‘huge prize’ if progress is made in areas such as issuing sovereign bonds on blockchain
‘Trump accounts’ and how to spread America’s wealth
Political stability in the US requires it — the question is, pre-distribution or redistribution?
Cutting China reliance would cost the west $23tn, research suggests
Study highlights challenge facing US and EU as they try to reduce Beijing’s dominance over strategic supply chains
Wall Street feasts on fees from SpaceX IPO and mega-mergers
Top US banks benefit from revival of large deals as AI optimism and strong consumer fuel market rally
Deutsche Bank and UniCredit sue Linde over Russia sanctions losses
Test case will determine whether lenders can recover hundreds of millions of euros seized by courts
AI is not enough to arrest China’s decline
There are other, more powerful forces weighing on the country’s economy
Freshfields culls partners after pay overhaul
Dozens of partners at ‘magic circle’ law firm handed fewer equity points
UK proposal on EU youth mobility scheme is ‘non-starter’, diplomats warn
Number of places available is key sticking point in ‘reset’ negotiations between London and Brussels
Investors cut back bets on Asian chipmakers after blistering rally
TSMC, SK Hynix and Samsung Electronics together account for 29% of MSCI Emerging Markets index
Companies turn to Chinese AI models to cut costs
DoorDash, Siemens and Airbnb are among those seeking to curb ballooning bills and reduce reliance on US technology
FoundRae, the fine jeweller bringing modern talismans to Mount Street
Beth Hutchens’ new London store is a destination for symbolic and spiritual jewels