FirstFT: Apple CEO Tim Cook will step down in September
Also in today’s newsletter: China-Japan tensions grow, and Keir Starmer fends off calls to quit
Apple CEO Tim Cook to hand over to John Ternus in September
Head of hardware to become Apple’s next chief executive while Cook will become iPhone maker’s chair
The M&A strategy behind Berkshire Hathaway’s tie-up with Tokio Marine
Deal with non-life insurer is first investment in Japan beyond trading houses for Warren Buffett’s conglomerate
What does AI really mean for your work? Submit your questions
Take part in a live Ask an Expert Q&A with Sarah O’Connor, John Burn Murdoch and Madhumita Murgia on Thursday April 23 at 1pm BST
Heathrow can raise airline fees to pay for third runway bid, regulator says
Civil Aviation Authority’s draft decision comes despite criticism from carriers over airport’s expansion project
Starmer accused of scapegoating officials over Mandelson scandal
UK prime minister fends off calls to quit in chastening House of Commons debate
Trump’s call to deregulate psychedelics boosts drugmakers’ shares
Stock in UK-based Compass Pathways jumps to highest level in two years following president’s executive order
US Export-Import Bank boosts energy lending during Iran conflict
Trade finance agency ‘inundated’ with requests to support US oil and gas exports, says president John Jovanovic
William Hill’s owner can squeeze extra winnings from its suitor
A bid for owner Evoke sounds generous, but cost cuts might boost returns further
Kevin Warsh to say Fed independence not threatened by political pressure
Donald Trump’s pick for chair will tell powerful Senate committee that central bank must ‘stay in its lane’
Merz and Commerzbank attack Orcel’s ‘hostile tactics’ as takeover battle escalates
UniCredit chief says German lender risks becoming ‘increasingly unfit’ for rapidly changing banking market
Stolen rare books returned to Whitney heirs decades after theft
Trove including work by John Keats and Oscar Wilde will be auctioned by family for charity in New York
The Mandelson fiasco reveals the true nature of Starmerism
This is a prime minister who does not understand the difficult trade-offs involved in governing
Starmer feels MPs’ fury as Mandelson fallout widens
Labour MPs question their leader’s judgment but still lack consensus on whether to oust him after local elections
Brad Jacobs’ QXO takes a high-speed approach to permanent capital
Billionaire investor’s acquisition vehicle has struck its third major building products deal in a year, spending $30bn in total
US oil refiners reap windfall from Iran war
Soaring fuel prices and access to cheap North American crude oil put American refiners in pole position
Revamping EU merger rules is not a cure-all
A bigger priority is completing the single market and streamlining corporate law
America’s coming revolt is in the ‘wired belt’
Anger in the rust belt propelled Trump to victory — the rage of suburban knowledge workers will drive the AI backlash
Trump’s social media posts have transformed oil trading, says Citadel
Hedge fund’s commodities head says traders are struggling to adjust to volatility sparked by president’s frequent messages
The European right is pivoting away from America
Electoral logic is driving a shift as polls lay bare European disgust at the US administration
Sex, lies and the trials of being Gen Z — the best new debut novels
Witty, observant and wildly original stories explore the difficulties of modern dating, dark goings-on in 1950s Chelsea — and a dog’s-eye view of the world
Shares in data centre hopeful Fermi plunge as top executives quit
Company co-founded by former Trump energy secretary beset by setbacks including loss of $150mn Amazon investment
Gaza reconstruction to cost more than $70bn, officials say
First damage assessment since US-backed ceasefire comes as progress on peace plan stalls during Iran war
Reform UK vows to deport hundreds of thousands of refugees
Nigel Farage’s party has looked to Donald Trump’s immigration crackdown as a model