011 Modello 1

Hedge funds suffered worst losses since Covid in Iran war turmoil

Managers have struggled to navigate huge market swings sparked by conflict

Meet the interiors experts upholding a very clean tradition

Fragile truce does not bring permanent end to war between foes burdened by decades of distrust

Retaining flexibility may prove more valuable than going all in too early on a single bet

Also in today’s newsletter: Perplexity’s revenues jump 50% in a month and Turkey sells $20bn of gold

Both the US and Iran can claim victory of a sort but many questions remain unresolved

Hong Kong conglomerate escalates legal campaign over its ejection from canal terminals

Government debt in UK and Eurozone on course for strongest day since 2023

Halifax reports market slowdown as mortgage rates rise

Pressure on living standards as a result of hostilities will damage Labour

FTSE 100 group expects a drop in gas production because of hit to facilities in Qatar

Donald Trump says 10-point plan from Iran is ‘workable basis’ for negotiations

South Africa’s FirstRand says industry-wide £9.1bn programme is ‘deeply flawed’

UK National Cyber Security Centre warns vulnerable routers will let attackers steal passwords and log-in details

Plus AI and jobs

SpaceX; private credit; US science; finasteride; Hayao Miyazaki; congressional trading; and GPUs

Also in this newsletter: Italy walks an Iran tightrope with the US president

None compare to the OG sovereign default

Reliance Industries has made no announcement to the stock exchange about the project in Brownsville, Texas

When the central bank tightened policy in an oil shock it proved a costly error. This time might be different

Marc Filippino speaks to Rachel Rees and Laura Pitel

Last year investors ploughed a record $166bn into the funds backing ageing assets

New research predicts impact of lower productivity and workers quitting because of long-term illness after Covid-19

Ravinder Bhogal knows her spuds and shares three recipes to make the most of the season