Ethiopia makes deal to cut payments on $1bn bond
Bondholder agreement comes after $8bn of debt relief from official creditors in recent years
Keir Starmer to unveil defence plan with £5bn for drones
Long-delayed blueprint is unlikely to end military figures’ calls for more funding
FirstFT: Supermicro’s Taiwan offices raided in chip smuggling investigation
Also in today’s newsletter: China grounds light aircraft after Beijing crash and foreign investors fear Japan is backsliding on reform
Foreign investors fear Japan is backsliding on reform
Pendulum ‘swinging back towards economic nationalism’, warns one private equity executive
Maersk raises profit guidance as new US tariffs fuel demand
American companies rush to stockpile goods ahead of fresh round of levies
Burnham vows to ‘rewire’ British state
UK’s prime minister-in-waiting takes aim at centralisation and promises voters help on living costs
Supermicro Taiwan offices raided in chip smuggling probe
Server maker’s shares fell about 8% after news of the investigation
EU sets deadline of October for reduction in trade deficit with China
European commissioner Maroš Šefčovič demands action after meeting Chinese commerce minister Wang Wentao
ECB does not need to fight inflation with ‘same force’ as in 2022-23, Lagarde says
President of central bank signals that there could be a modest increase in interest rates
Grim legacy of ‘Chavismo’ hinders Venezuela’s earthquake response
Socialist regime’s US-backed leader is facing a crisis as anger mounts over inadequate rescue efforts
BT’s turnaround is in the home stretch
A streamlined domestic business and the end of a hefty investment programme mean it will soon start to generate cash
Former Tory MP pleads guilty to cheating over bets on 2024 election date
Craig Williams used inside information from his role as a parliamentary aide to Rishi Sunak
Resident doctors in England accept pay offer after three years of strikes
Staff will receive an average 6.6 per cent raise by April 2027 and an extra 4,500 speciality training places will be created
Comcast’s Hollywood break-up marks its GE moment
Owning glamour businesses might be fun for the CEO and board but is not necessarily useful for shareholders
Bitcoin-hoarder Strategy unveils $2bn buyback as share price tumbles
Firm outlines reasons why it may sell crypto, in reverse of previous pledge to hold
Burnham keynote speech as it happened: plan unveiled for devolution of power
Britain’s prime minister-in-waiting says the country is in a ‘rut’ and needs a shift of decision-making away from Westminster
Burnham’s radical localism alone won’t fix the UK economy
His speech hits the right political notes but fails to offer a clear roadmap for growth
Supreme Court protects the Federal Reserve, but what about everybody else?
While the central bank’s independence was upheld, other agencies were not so lucky
Supreme Court blocks Trump from sacking Fed governor Cook
Justices say president can fire top regulator in separate decision
The Twitnam Summer — Gulliver’s travels down the Thames
How a summer friendship between Alexander Pope, John Gay and Jonathan Swift reshaped English literature
Strategy’s last-ditch strategy
It’s going to be a stretch (sorry)
Trump defeated on Lisa Cook case
Justices ruled on the basis of due process but also indicated a desire to protect the central bank’s independence
Archduke — what if Franz Ferdinand’s assassin had changed his mind?
This pitch-black farce at London’s Royal Court Theatre is also a shrewdly current story about radicalisation
Argentina’s warning for Venezuela on debt restructuring
Caracas must secure the backing of the IMF in order to rebuild investor confidence