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Virgin wins approval for cross-Channel trains despite Eurostar complaints

Regulatory clearance brings competition on rail services to the continent a step closer

Investors in gigawatt-scale campuses face billions in underinsured risks as insurers balk at cost of full coverage

Catch up on our most clicked stories

Giving a shirt

Households and businesses pulled back in the worst months of the Iran energy shock

But not worried enough to actually do anything about it

Industrial output growth slows and retail sales nearly flat as policymakers face calls to step up support

Muddled thinking about vocational education and fixing the driving test backlog

Donald Trump’s son-in-law and envoy is pushing Washington’s peace plan for Gaza

UK prime minister was contacted by someone claiming to be Susie Wiles

US president claims joint exercises send a ‘hostile’ message to North Korea

Well, some of them, anyway

An insider guide to the most fashionable hotels in Australia’s culture capital

Also in today’s newsletter: private credit doldrums and AI super-rich

Why Bessent’s yen backstop is a wobbly leg to stand on

Interest rate nears 3% as weak yen fuels inflation concerns

Glamorous thriller ‘The Shards’, revealing documentary ‘Mourinho’ and more. Reviews by Rebecca Nicholson

Victoria Craig talks to Eric Platt and Myles McCormick

Company founded by former Snap executive Alex Mashrabov targets marketing content for businesses

FT analysis shows signals of stress in the market are back to levels last seen in 2017

Rates on routes including Panama Canal, Rhine, Red Sea and Black Sea jump, while Hormuz closure also hits seaborne trade

Prime minister expected to approve development of controversial Rosebank and Jackdaw projects

Rivers are at all-time lows and water is scarce. Transport, energy and big tech are affected