ECB raises interest rates by quarter point to 2.25%
Central bank is first in G7 to increase borrowing costs in response to Middle East energy crisis
World Bank warns El Niño risks driving up global food prices
Weather phenomenon threatens to worsen problems for farmers already dealing with high fertiliser costs due to Iran war
Russia ‘not looking for conflict’, says Nato’s top US commander
General Grynkewich’s remarks come as Washington withdraws key assets from Europe
Trump vows to take ‘total control’ of Iran’s oil and gas markets
US president says American forces will also seize control of key export hub Kharg Island
India protests to US after three sailors killed in tanker attack
New Delhi calls for ‘de-escalation’ in Gulf but appears to have little appetite for diplomatic confrontation with Washington
How rising inflation data is piling pressure on Trump
Also in today’s newsletter, the president baffles the world of Wall Street dealmakers with praise for Citigroup
UK defence secretary resigns over spending plan
John Healey says Keir Starmer ‘unable’ and Treasury ‘unwilling’ to provide essential budget
ECB raises rates and inflation forecasts in response to war in Iran
As expected the central bank increased rates to 2.25%
Arms maker Diehl in talks to build Ukrainian missile in Germany
Groups to discuss whether they could jointly produce Fire Point’s Flamingo cruise missile
Meloni’s staff strike against new limits on working from home
Employees in Italian prime minister’s office say secretariat buildings suffer from pest infestations and poor maintenance
LIV Golf events in doubt as Saudis drip-feed funding
PIF has injected only a third of $600mn it pledged to LIV to finance remainder of 2026 season
John Healey: the ex-trade unionist who privately battled the Treasury
Previously talked of as a potential caretaker prime minister, his efforts as defence secretary could not generate the spending increase the military wanted
The World Cup 2026 — You asked, Simon Kuper answered
The FT’s sports columnist replied to reader questions
The rise of the pro-worker conservative is changing the US
Republicans helping to strengthen labour law would once have seemed an outlandish prospect — no longer
Top barrister accused of tax evasion was avoiding ‘red tape’, court hears
Robert Venables set up trusts and partnership structure to cheat HMRC of £2mn, prosecution claims
EU countries weigh ‘tearing apart’ bloc’s diplomatic service
Chief diplomat Kaja Kallas and her EEAS are in capitals’ crosshairs over leadership and co-ordination issues
Saudi Arabia ends ban on Lebanese imports
Five-year ban was targeted at Hizbollah’s grip on Lebanese politics
The business model of white victimhood
Rage on the right and a narrative of disadvantage changing sides is rewarded by social media
US and Iran exchange fresh wave of strikes
Escalation of hostilities comes as Trump piles pressure on Tehran to agree a deal
FT readers tell us how AI is changing their jobs
A special postbag edition
AI-generated film about Iran protests turns tragedy into slop
The first such movie accepted by a festival, ‘Dreams of Violets’ portrays victims of state brutality without capturing their humanity
Burnham rules out cash for Waspi women after Labour backlash
Leadership hopeful’s hints at large spending commitments had raised fears over risk to UK fiscal position
Latest savings rates
Up-to-date deals from banks and building societies
Latest Isa rates
Up-to-date tax-efficient savings deals