FirstFT: Pete Hegseth’s broker looked to buy defence fund before Iran attack
Also in today’s newsletter: US petrol prices rise above $4 a gallon while Unilever and McCormick in talks to create $60bn food group
UK’s £16bn housing bank aims to protect developers from Iran shock
Housebuilders expected to be hit by sharp cost increases and fall in consumer sentiment
Whoop hits $10bn valuation as health tracking takes off
Wearable device maker eyes IPO after raising $575mn from sovereign wealth funds and top athletes
Eurozone inflation jumps to 2.5% in March
Middle East energy shock pushes price growth to highest level in almost 2 years
Sports law firm behind Chelsea sale sells stake to private equity group
Deal will give San Francisco’s Cordillera a board seat at UK-based Northridge
Lib Dems borrow from Macron playbook for May 7
Though the party is fifth nationally, Ed Davey thinks sticking to the centre ground can deliver local election gains
Raspberry Pi profit surges as AI boom lifts demand
Sales growth for UK computer company particularly strong in China and US
UK growers warn of cucumber and tomato shortages as gas prices surge
Producers warn of empty shelves if supermarkets do not raise prices to help offset costs linked to Iran war
Unilever nears deal to merge food unit with McCormick to create $60bn group
Move will transform Hellmann’s mayonnaise maker from multi-category conglomerate into beauty and personal care company
Inflation worries become growth worries
A longer war makes long bonds interesting
Aviation regulator rejects Heathrow’s £10bn spending plan
Civil Aviation Authority says average charges per passenger should stay broadly flat over next five years
Asia turns to coal as Iran war chokes off gas supplies
Countries shrug off environmental concerns to fire up use of polluting fuel as Gulf supplies dwindle
FTAV’s further reading
Euro-Office; private equity and care homes; AI bubble; and the social theory of insurance
EU ministers commemorate Bucha massacre as Ukraine peace talks stall
Also in this newsletter: the former Putin translator overseeing the Hungarian election observation mission
FT Alphaville’s toy Collateralised Whatever Obligations
The FTAV Credit Explainer Part II: Securitisation Bugaloo
Private capital’s great disappointment era begins
The $22tn industry is facing the prospect that returns will fall far short of the expectations of investors
Foreign central banks sell US Treasuries in wake of Iran war
International official holdings at New York Federal Reserve fall to lowest level since 2012
BlackRock looks at HSBC’s Canary Wharf tower for new London HQ
Asset manager is seeking at least 600,000 sq ft as demand for high-end offices rises
Transcript: The rocky legal future of Trump’s tariffs
Marc Filippino talks to Antoine Gara and Stefania Palma
Cracks appear in US-UK security co-operation after Trump-Starmer tensions
Differences over war in Iran are hitting working relationships between diplomats, officials and military personnel
Why do politicians want AI to go faster?
Bullish rhetoric about ‘unleashing’ the technology is badly out of touch with the sensibilities of many voters
Swiss lawmakers signal compromise on $22bn UBS capital plan
Decision could be published in April with foreign capital requirements component moving to parliament for debate
‘Pump anxiety’ from soaring fuel prices prompts surge in EV interest
Increased costs since outbreak of Middle East conflict prompt more test drives and advert views
BlackRock to boost investment in NHS property
Asset manager teams up with Greater Manchester Pension Fund for £1bn joint venture as government seeks more private finance