Iran and Israel call halt to military operations
Retaliatory barrages had tested two-month truce and Trump’s efforts to forge wider peace deal
Incyte strikes up to $2bn deal for blood disorder biotech
Midsized drug manufacturers are supplementing pipelines and scaling up in competition with Big Pharma
Why private equity in football can still be a winning proposition
Chelsea demonstrates that investment in the sport has merit but requires patience
Wall Street set for gains after AI-led rout
US stocks poised to rebound from Friday’s fall that rattled global markets
Trump’s replacement tariff wall continues to rise
Bogus arguments about forced labour are being used as an excuse for new duties
Beastie Boys’ Mike D is on his first solo tour — is it sure shot or sabotage?
The rapper revealed new rhymes and revelled in old ones in a small London venue ahead of a forthcoming album
Magnus Carlsen has his worst tournament for 11 years
Puzzle: can you match Nigel Short’s pawn endgame skills?
Netanyahu’s grand strategy is coming apart
The Israeli leader has tried to secure his country by entirely military means. It isn’t working.
At this year’s Art Basel, only the spectacular will do
Galleries are conscious of the need to be seen and heard in an increasingly high-octane environment
Those World Cup economic impacts in full…
No look, pass
Switzerland weighs Franco-Italian alternative to US air defences
SAMP-T emerges as strong option for Bern as Raytheon’s Patriot system deliveries delayed for at least 5 years
Canada tries to edge back into US trade talks with Trumpian sales pitch
‘Fortress North America’ is Ottawa’s response to being cut out of negotiations on new pact with US and Mexico
Five ways to boost your motoring experience
A life-saving jump-starter – plus other kit for the road
FirstFT: AI sell-off spooks global markets
Also in today’s newsletter: Iran and Israel trade fire while Intesa Sanpaolo launches €30bn bid for rival bank
Tate & Lyle agrees to £2.7bn takeover from US rival Ingredion
Takeover of long-serving FTSE member deepens London stock market malaise
Blackstone looks to sell $2bn of stakes in private investment funds
One of the biggest deals of its kind will test investor appetite for ageing private equity vehicles
Armenians back pivot from Moscow in Pashinyan election win
Prime minister’s party secures parliamentary majority against Russia-friendly rivals
Explosions heard in central Tehran as Israel and Iran trade air strikes
Retaliatory barrages test two-month truce and Trump’s efforts to forge wider deal
Raiding infrastructure budgets to fund defence stores up trouble
Cancelling projects is already politically costly, while more military investment is unlikely to boost economic growth
Oil prices jump after Iran missiles threaten fragile ceasefire
Traders worry that new strikes could escalate into a return to all-out conflict in Middle East
Elon Musk’s SpaceX courts retail investors
Plus, redemption woes at Partners Group, shorting call centre stocks and Le Parc at Tate Modern
FTAV’s further reading
SpaceX; slop; taxing compute; taxing people; racism; academia; and Eve Online
Intesa gatecrashes rival’s bid for Monte dei Paschi with €30.6bn offer
Italy’s largest bank says takeover would result in significant cost savings
Peru’s presidential rivals in neck-and-neck race after election run-off
Results too close to call as rightwing autocrat’s daughter vies with leftist lawmaker