Shell profits surpass expectations as Iran war delivers trading windfall
London-listed group is latest energy company to benefit from volatility
Emirates soars to record profit despite Iran war grounding planes
Dubai airline says it has restored most flights after conflict closed airspace and sent jet fuel prices soaring
Trading the trends in GDP
Plus, yen intervention
Hungarian nepo-stocks: where are they now?
What goes up
SoftBank surges as investors rush back into tech stocks
Gains for OpenAI and Arm investor help Nikkei 225 to record high after holiday closure
Global stocks rise on hopes of US-Iran deal
Tehran is reviewing a Washington-backed proposal that Donald Trump says could bring the conflict to an end
FTAV’s further reading
Knitting; chart names; Chrome; Ethiopian runners; NYT Cooking; bubbles; and AI
EU dithers on US trade deal implementation amid Trump threats
Also in this newsletter: New rail ticket rules, and how to spend Europe’s defence boom
Samsung workers demand bigger slice of surging AI profits
South Korean unions threaten strike action in battle for big bonuses and higher wages
FirstFT: Tech rally fuels hedge funds’ biggest gains since 2020
Also in today’s newsletter: Norway-Russia fisheries pact and US-Iran deal hopes
Transcript: LVMH looks to shrink its luxury empire
Marc Filippino talks to Costas Mourselas and Adrienne Klasa
Transcript: Ukraine, Iran and the lessons of war
Gideon Rachman talks to Lloyd Austin, former US defence secretary
Accelerating Business
A monthly series that examines how the legal ecosystem uses new technologies to serve fast-changing business needs. First burst for 2026: the mid-career switch from law firm to legal-tech start-up
Inside the Mandelson scandal: ‘Keir didn’t even like him’
How the prime minister’s search for a political operator to liaise with Donald Trump dramatically backfired
Barclays and Citi bosses recommended for honours in King’s birthday list
CS Venkatakrishnan and Jane Fraser have been proposed alongside a raft of senior current and past politicians
Marc Rowan rips private capital’s marks
Apollo Global chief executive warns about ‘day one mark-ups’ of private equity funds sold to retail investors
Reform fields candidate for London council election despite failing vetting
Graham Holland was initially rejected because of offensive social media comments about Muslims
EU tells airlines to pay passengers for fuel-linked cancellations
Rising cost of kerosene is ‘normal part of airline business’, says document
Rubio seeks to mend ties with Pope Leo after Trump row
Secretary of state to discuss religious freedom and future of Cuba with Chicago-born pontiff
Europe’s banks hope ‘friendshoring’ will apply to them too
Geopolitical tensions have raised concerns about US services becoming harder to obtain if relationships sour
Apple, Berkshire and the virtue of patience
Waiting for outstanding opportunities has paid off but it is getting increasingly difficult
Brazil moves to end six-day week as Lula seeks re-election
A hundred years after Ford gave workers a two-day weekend, Latin America’s largest country wants to follow suit
Wells Fargo whistleblower appeals for restoration of $180mn award
Payout to bank’s former security chief was cut to $55mn two weeks after Trump appointee became SEC chair
Russia’s return to Venice risks rendering the Biennale irrelevant
At the art world’s most important event, culture is again being used in the service of state power