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[EN] Financial Times

Hot springs to rice crackers: Japan’s small businesses suffer Iran war energy crunch

Reliance on imported fuel is strangling the world’s fifth-largest economy

China reviews $2bn Manus sale to Meta as founders barred from leaving country

Deal scrutiny deepens over official fears of strategic tech flowing overseas

Private credit’s public reckoning

Is private credit at an inflection point?

Musk lawyers try to bar Delaware judge over LinkedIn ‘like’ cheering legal defeat

Quinn Emanuel says judge must recuse herself over post, which judge says she may have liked ‘accidentally’

Democrat wins special election in Mar-a-Lago district

Small-business owner focused campaign on rising costs in Donald Trump’s backyard

Canada and Norway move to capitalise on Iran war oil price surge

Nations position themselves as reliable suppliers in a ‘desperate’ world

Merck nears $6bn biotech deal to boost cancer drug pipeline

Terns Pharma stock has jumped since promising clinical data on its bone and blood cancer treatment last year

Letter: France bets on multilateralism to combat ‘might is right’

From Hélène Duchêne, France’s Ambassador to the UK, London SW1, UK

Letter: How Pakistan lost control of the Taliban tiger

From Gregory Shenkman, London SW7, UK

Letter: Kippers — not everyone’s choice for breakfast

From Dick Sands, London TW8, UK

Letter: News story should raise congressional alarm bells

From Bert Ely, Ely & Company, Alexandria, VA, US

Letter: Confluence of forces behind green energy’s attractions

From Karim Henide, London SW13, UK

Letter: Nuclear fusion — triumph of hope over expectation

From AJ Warren, Aldeburgh, Suffolk, UK

Letter: The ‘imminent threat’ that saw the US occupy Quebec

From Terence Gower, New York, NY, US

Iran denies Trump claim that talks are under way

Pentagon appears to be ‘punishing’ Anthropic in violation of free speech, judge says

Jurist expresses scepticism about Trump administration’s position and calls defence department’s actions ‘troubling’

Letter: Trump opens a Pandora’s box he cannot now close

From Sir John Rose, Former Chief Executive, Rolls-Royce plc, London SW11, UK

FT Crossword: Number 18,327

Investors snap up debt to finance Electronic Arts’ $55bn take-private

Bond deals tied to acquisition of video game maker show appetite for risky debt despite geopolitical tumult

US oil price tumbles in latest bout of market volatility

Donald Trump continues to play up prospect of deal with Iran, saying they are ‘talking sense’ in negotiations with the US

US to deploy more troops even as Trump praises Iran talks

Members of 82nd Airborne to join other forces in the Middle East ahead of president’s deadline for Tehran to end conflict

Danish premier’s party suffers its worst election result since 1903

But Mette Frederiksen may still secure a third term in office because her rightwing rival fared even worse

OpenAI to end Disney deal and Sora video app

CEO Sam Altman is shifting AI start-up’s strategy to focus on its core products

Charting the OpenAI ‘ecosystem’

Map of the problematique