Shein shares slide 10% in Hong Kong trading debut
Fast-fashion retailer completes long-delayed IPO at bargain-basement valuation
India media baron Subhash Chandra’s insolvency settlement sparks feud with Mukesh Ambani
Also in this newsletter, a new leader for HDFC Bank
Letter: Global trade will have to box clever to achieve digital revolution
From Vivek Ramachandran, Head of Global Trade Solutions at HSBC, London E14, UK
Letter: Bessent’s defender wrote something different in 2024
From Khalil Hegarty, Director, Oxley-Hegarty, Melbourne, Australia
Letter: Is this Maga’s Saturn phase — when it devours its own?
From Mark Bell and Max Bell
Letter: A marketing riposte to saturation by social media
From Amelia van Veenendaal, Chief Executive, Add One, Amsterdam, The Netherlands
Trump retaliates in Canada trade war by renaming Lake Ontario
‘I preferred it before everything was called America’
US Army secretary resigns after tension with Pete Hegseth
Dan Driscoll latest senior military figure to quit, leaving a vacuum at top of the American armed forces
Correction: Denbies Wine Estate location
Denbies Wine Estate is in Surrey, not Kent
Number of UK pensioners paying highest tax rates doubles in five years
More than 1mn will pay extra on their retirement income, according to HMRC figures, as thresholds remain frozen
FT Crossword: Number 18,468
Retired Jewish police chief to stand for Arab-Israeli party in parliamentary election
Yoav Segalovich will be a candidate for Raam in effort to show Arab-Jewish partnership is possible
FirstFT: Japan’s bonds and currency under pressure after Fed chair’s Jackson Hole speech
Also in today’s newsletter: India’s GDP beats expectations and South Korea jails Unification Church leader over bribery scandal
Europeans shun Russian finance minister at US-hosted G20 meeting
Anton Siluanov excluded from event photo despite ‘productive’ meeting with Treasury secretary Scott Bessent
Supreme Court allows construction of Trump’s White House ballroom to continue
Ruling on $400mn project means building is likely to be completed
Elliott builds stake in French industrial gas group Air Liquide
Activist US hedge fund has targeted several European corporate giants in recent years
Trump says US will hit Iran ‘hard’ as conflict reignites
Oil prices rise after exchange of fire between warring countries ends weeks of relative quiet
Swiss lawmakers call for softer banking regulation in victory for UBS
Panel proposes that Switzerland’s largest financial institution could fully capitalise its global operations through mix of equity and debt
US regulator claims Amazon manipulated advertising prices
Federal Trade Commission sues ecommerce giant alleging it overcharged about 1.2mn businesses leading to higher prices for consumers
KKR is the rare private equity firm that bets on itself
As buyout groups reach middle age, playing with other people’s money only gets them so far
Trump says data centre critics ‘want to end up backwards and poor’
US president urges voters to ‘let Data Reign’ as unpopular building boom roils midterm campaigns
Lionel Messi announces retirement from international football
Superstar says he planned move two days after Argentina’s loss to Spain in July World Cup final
George Santos banned from prediction platform Kalshi for manipulation
Regulator says former US representative made public statements to boost the value of his own bets on whether he would attend the State of the Union address
Israel’s de facto annexation of the West Bank
New housing tenders could end chance of a contiguous Palestinian state