US targets UK, EU and Canada in new round of tariff probes
Investigations could lead to fresh levies after US Supreme Court struck down many of Trump’s tariffs
India opens the door to China
Also in this newsletter: Middle East war triggers gas shortage
Letter: AI outages expose Amazon’s ‘moral crumple zone’
From Vsevolod Shabad, Independent Researcher, University of Liverpool, Bristol, UK
Letter: How Jenny’s Side Party kept the Royal Navy shipshape
From Peter Double, Mildenhall, Suffolk, UK
Letter: Pensions — from Bismarck to Pennsylvania Railroad
From Alex J Pollock, Senior Fellow, Mises Institute, Auburn, Alabama; Lake Forest, IL, US
Letter: Donkeys of war — the Brits helping the Ukrainians
From Martin Hill, Brighton, East Sussex, UK
Letter: Real reason Britain should not scrap its oil profits levy
From Bob Ward, Policy and Communications Director, Grantham Research Institute on Climate Change and the Environment, London School of Economics and Political Science, London WC2, UK
Letter: Here’s a creative solution to the student debt problem
From Professor Costas Milas, University of Liverpool, UK
Letter: Blunt visa crackdown is bad for all UK universities
From Henri Murison and others
Letter: Older wine drinkers
From Billy Lennon, Publisher, Cleveland Review of Books, Cleveland, OH, US
Canada launches tens of billions in Arctic military investment
Mark Carney announces funds for three ‘forward operating bases’ and other upgrades in the country’s north
US to ease Russian oil sanctions as energy prices soar
Move by Treasury comes after escalating crisis in Gulf sends Brent above $100 again
Trump attack on Iran carries on without any clear objectives
‘We want Iran to think we don’t know what we’re doing’
Why China’s renminbi push matters even if it never rivals the dollar
If renminbi settlement becomes cheaper and more trade migrates, firms will have less need to generate or hold US currency
FT Crossword: Number 18,317
US has burned through ‘years’ of munitions since start of Iran war
Rapid depletion of stockpile including Tomahawk missiles raises pressure on Trump over cost of conflict
FirstFT: Iran’s new supreme leader vows to keep blocking Strait of Hormuz
Also in today’s newsletter: China targets more ‘employment-friendly’ growth, and Honda reports $15bn loss
Investors slash Fed rate-cut bets as Iran war sends petrol prices surging
Traders expect central bank to remain on hold until next summer in blow to Trump’s hopes for lower borrowing costs
Middle East war day 13 as it happened: Mojtaba Khamenei calls for Strait of Hormuz to ‘remain closed’, Oil closes above $100 for first time since 2022
Latest round of strikes on tankers and Iranian supreme leaders comments fan fears of supply disruptions
Fed to loosen capital requirements for big US banks
Wall Street cheers plans that would water down protections designed to avoid repeat of 2008 financial crisis
Iran’s new supreme leader vows to keep Strait of Hormuz closed
Written statement is first public comment from Mojtaba Khamenei since the start of the war
Uncomfortable moments in private credit
Bad news piles up in non-bank lending
Intervention in oil futures would be ‘biblical disaster’, CME warns
Terry Duffy says any attempt by the government to lower prices using derivatives market would erode confidence
Partners Group sounds alarm on private credit default rates
Chair of Swiss private capital group warns pace could double to above 5% in coming years