Weak monsoon to deliver double economic blow for India
Also in this newsletter: New Delhi and Seoul draw close
Trump says Israel and Lebanon will extend ceasefire by 3 weeks
President says US Navy will ‘shoot and kill’ any boat laying mines in Strait of Hormuz
Letter: Former UK envoys warn on Israeli West Bank annexations
From Sir Vincent Fean and others
Letter: The questions I would put to Trump’s Fed chair pick
From Danny Leipziger, Professor of International Business, George Washington University, Washington, DC, US
Letter: The stablecoin template in Belfast and Edinburgh
From Ousmène Jacques Mandeng, London WC1, UK
Letter: Kluge’s change of heart on postwar cinema
From Jannik Schäfer, Writer & News Editor, Cologne, Germany
Letter: We lack the business model to fight tomorrow’s wars
From Blythe Crawford, Former Commandant, Air and Space Warfare Centre, London SW1, UK
Letter: Done right, the AI build-out delivers big public benefits
From Debra Phillips, President and Chief Executive, National Electrical Manufacturers Association, Washington, DC, US
Letter: ‘Hallucination’ softens what’s simply wrong
From Richard Strasser, Scarsdale, NY, US
Letter: A verbal alternative to being thrown under a bus
From Steve Harrison, Preston, Lancashire, UK
Energy prices rise in wake of Iran war
Trump suggests US could buy Spirit amid bailout talks
Bankrupt low-cost airline has been in talks with the federal government for a ‘financing package’
US soldier charged with making prediction-market bets on Maduro’s seizure
Army member was involved in planning Venezuela operation and allegedly made $400,000 on trades about mission
FT Crossword: Number 18,354
Intel shares jump 20% as it predicts revenue surge from AI data centres
CEO says US chipmaker has made ‘fundamental’ changes after year-long turnaround
Trump says Israel and Lebanon will extend ceasefire by 3 weeks
President says American navy will ‘shoot and kill’ any boat laying mines in Strait of Hormuz
FirstFT: US accuses China of ‘industrial-scale’ theft of AI technology
Also in today’s newsletter: PwC fined $166mn by Hong Kong regulators, and Meta to cut 10% of jobs
Griffin’s Citadel attacks Mamdani for using his penthouse to sell New York tax plan
Mayor called out billionaire’s $238mn property as he pushes for second-home levy on the wealthy
AI brings Foxconn a chance to cut its reliance on Apple
The cloud and networking division, which assembles AI servers, is growing at a pace the smartphone market cannot match
US shale bosses resist boosting oil output over Iran war ‘chaos’
Dallas Fed survey finds that energy executives are not confident high prices will hold
UK in talks with Anthropic over Mythos access for banks
British lenders seek advice from US groups testing powerful new cyber security AI model
China Shock 2.0
Inside China’s new economy
Meta to cut 10% of jobs to ‘offset’ Zuckerberg’s AI spending
Social media group plans to spend $135bn on data centres this year
Vanguard chief warns of ‘financial exploitation’ by prediction markets
Boss of $12tn asset manager echoes criticism of platforms such as Polymarket and Kalshi