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Khamenei says US bombing of Iran ‘did not achieve anything’

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Supreme leader’s comments come amid conflicting accounts of the damage to country’s nuclear facilities

Can hydropower keep the lights on?

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Blackout in Spain and Portugal highlights need for renewable and reliable power

The economic consequences of Trump’s second coming

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Preparing for a post-American world (part 2)

How war became contagious

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With peaceful norms fading, a new weapon has made conflict cheaper and easier 

Taiwan develops suicide drones akin to Ukraine’s to defend against China

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Autonomous weapons have same operating and AI strike systems used to target Russian tanks and oil rig

High-priced drones and Japan’s hidden AI champion

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The inside story on the Asia tech trends that matter, from Nikkei Asia and the Financial Times

Shell says it has ‘no intention’ of making offer for BP

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Oil major says no talks have taken place between the companies over an offer

Can ‘clean fashion’ perform?

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Sustainability-focused brands are switching from forever chemicals to eco-friendly alternatives for waterproofing activewear

A resilient economy makes a resilient market

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Shocks? What shocks?

EU leaders shift from defence to trade as Trump looms over Brussels summit

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Also in this newsletter: Is the EU watering down its AI rules?

Dollar hits 3-year low on report Trump could pick next Fed chair early

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Currency has weakened more than 10 per cent this year as concerns grow about US economy

US businesses shy about attendance at China’s Davos

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Beijing’s flagship development conference kicks off in shadow of tensions with Washington

US strikes on Iran force China to reconsider Trump’s isolationism

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President’s willingness to use military force prompts rethink in Beijing over Taiwan

Wall Street’s new battle: DSAs vs CFAs

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Plus, talk of a merger between BNY and Northern Trust, and revelations inside Builder.ai

Markets should watch out for the summer fling

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Keep an eye on the yen and other areas of consensus as temperatures rise

How the next financial crisis starts

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The climate shocks that could trigger wider market turmoil

Ursula von der Leyen faces no-confidence vote over Pfizergate

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Far-right motion relating to pandemic scandal threatens to derail European Commission president’s second-term agenda

Fears over US debt load and inflation ignite exodus from long-term bonds

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Investors have exited funds at fastest rate since 2020 at height of Covid pandemic

Reddit vows to stay human to emerge a winner from artificial intelligence

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Chief Steve Huffman warns of ‘arms race’ to protect its devoted online communities from AI-generated content

Investors press South Africa to lower inflation target

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Central bank also argues current 3-6 per cent goal keeps long-term price risks ‘higher than they need to be’

Draw your own chart game: oil prices

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Test your knowledge of how oil prices have been affected by previous crises in the Middle East

Military briefing: Israel and Iran size up war damage

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Satellite images show misfires in Jewish state and damage to Iranian nuclear sites as foes emerge from conflict

Europe’s green steel ambitions falter as energy costs take toll

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Industry leaders warn climate targets are at risk without more state support and protection from cheaper imports

The Hong Kong property developer rushing to refinance billions of dollars in loans

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New World’s negotiations with banks come after years of ambitious debt-fuelled expansion

How Countries Go Broke — Ray Dalio on why timing is everything

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The billionaire Bridgewater founder shares his ideas on debt crises and how to predict them

Hong Kong intervenes to defend currency peg

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Monetary authority sells US dollars to maintain trading band for local currency

Amazon MGM Studios names Denis Villeneuve as next James Bond director

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Appointment is first big decision after gaining full control of the franchise from Broccoli dynasty

Meta wins artificial intelligence copyright case in blow to authors

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Court finds using online books to train AI without writers’ consent is ‘fair use’

Kennedy to cease US funding for global vaccine alliance

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Move exacerbates Gavi’s struggles with fundraising

Nearly ‘one child in every classroom’ is typically born using IVF in UK

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Official data shows rise in single patients and female same-sex couples opting for assisted fertility treatments

US imposes sanctions on Mexican finance firms over China fentanyl trade

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Treasury department orders will block two banks and a brokerage from transactions with American financial institutions

FirstFT: Trump shifts his attitude towards Zelenskyy and Putin

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Also in today’s newsletter, China’s premier vows to ‘open its doors wider’, and Nvidia shares hit record high

Trump brands Mamdani a ‘100% Communist Lunatic’

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US president says Democrats have crossed a line with 33-year-old’s victory in New York mayoral primary

Morgan McSweeney: Labour’s election fixer draws fire as welfare rebellion looms

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Chief of staff to UK prime minister argues government needs to head off Nigel Farage by leaning to the right

Fed unveils plans to reduce capital rules imposed after 2008 crisis

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US central bank proposes lowering ‘supplementary leverage ratio’ after extensive industry lobbying

Nvidia shares hit record high on renewed AI optimism

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Chip designer claws back market losses from Donald Trump’s trade war and DeepSeek breakthrough

The incredible shrinking fish: Baltic cod evolve to dodge nets

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Genetic shift driven by over-exploitation risks undermining populations beyond repair, according to research

Nato promises historic rearmament shift in bid to win over Trump

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Pledge to raise defence spending to 5% of GDP would unleash hundreds of billions of euros

Wall Street reels from Mamdani victory in New York mayoral primary

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Financiers plot to back a moderate after leftwing candidate clinches Democratic candidacy

Shell denies takeover talks with UK rival BP

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Chief executive Wael Sawan has been focused on improving Shell’s financial performance and share buybacks

UK to focus new trade strategy on boosting services exports

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Trade minister Douglas Alexander says policy will also involve strengthening anti-dumping defences amid Trump’s tariff war

A fragile truce in the Middle East

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Trump should champion diplomatic efforts if he wants peace to endure

Trump changes tune on Zelenskyy and Putin

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US president says Ukraine head is ‘very nice’ after their sideline chat at Nato summit, but is dismayed at Russian leader for not ending war

Thousands rally in Nairobi to mark anniversary of deadly tax protests

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Commentators predict new bout of unrest in Kenya following death of teacher in police custody last month

White House insists Trump’s ‘big, beautiful’ bill will help slash US debt

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Estimates by president’s Council of Economic Advisers come as Republicans make final push to pass legislation

Big Four firms fined in new exam cheating scandal

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Dutch arms of Deloitte, PwC and EY pay total of $8.5mn after ‘hundreds’ of staff shared answers on internal tests

FedEx demand ‘deteriorated sharply’ on China route amid Trump’s trade war

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Shares in express parcel operator fall sharply amid uncertainty over demand outlook

The race for better batteries could charge up an unloved metal

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Life has been tough for vanadium bulls, but now its potential use in batteries could add a new source of demand

Nato members agree 5% defence spending target

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Thirty-two allies ‘reaffirm our ironclad commitment to collective defence’ at summit in The Hague

Russia no longer needs Iran’s help to sustain the war in Ukraine

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Tehran’s humiliation won’t please Moscow, but domestic drone production and new alliances mean Vladimir Putin can fight on