BHP strikes China iron ore deal after months of talks

Mining company firms up copper guidance in Mike Henry’s final results as chief executive

Can EVs kill off petrol cars in China?

Electric-vehicle makers target less affluent heartland for next phase of growth

Acid attack shakes Indonesia as army returns to fore

Alleged involvement of soldiers rattles Indonesians fearful of increased role of military under Prabowo

Warsh rejects accusations he would be Trump’s ‘sock puppet’

Senators grill nominee to head Federal Reserve over president’s demands for interest rate cuts

Mandelson vetting scandal raises questions over Starmer’s judgement

‘If only there had been a way of knowing that a man who had been forced to resign twice and was dubbed the ‘Prince of Darkness’ wouldn’t make a good ambassador’

SpaceX obtains right to buy AI start-up Cursor for $60bn

Elon Musk’s rocket and AI conglomerate is seeking to catch up to rivals OpenAI and Anthropic

Letter: Europe’s price supports risk undermining its energy transition

From Jens Ewald and Thomas Sterner

Letter: Lord Denning’s observation on assisted dying debate

From Devra Wiseman, Leatherhead, Surrey, UK

Letter: Three events rekindled my love for the good ol’ USA

From Matt Long, Merville, France

Letter: Fed should recall lessons of oil shocks of the 1970s

From Leslie Lipschitz, Boston, MA, US

Letter: Measuring the dollar’s role as a reserve currency

From Konstantinos Gravas, Lecturer, Department of Economics, Athens University of Economics and Business, Athens, Greece

‘Why isn’t the energy used by people?’: China’s global AI push hits resistance

TikTok’s plan for $9.5bn data centre on Brazil’s coast reflects national ambitions but is hit by environmental concerns

Letter: Vix — more than an index of behavioural overreaction

From Professor Thanos Verousis and Professor Alejandro Bernales

Letter: Why Anglo-Saxon business mindset struggles in the EU

From Steven Vigor, CEO, Revigorate, Quarteira, Algarve, Portugal

Letter: Spare a thought for private jets and yacht marinas

From James van Bregt, Palma de Mallorca, Spain

Anthropic investigating unauthorised access of powerful Mythos AI model

Start-up has limited the release of the new tool because of concerns about its hacking abilities

Starmer’s political woes deepen as Mandelson scandal saps his authority

Ministers and Labour MPs appear to be losing sympathy for prime minister

UK energy regulator to gain powers to block bonuses

Shake-up of Ofgem comes after government strengthened water watchdog following public outcry

Inner London primary schools to be hit by 11% fall in pupils by 2030

UK spending watchdog says ministers need a plan to close or shrink classrooms as schools will struggle financially

FT Crossword: Number 18,352

Iran accuses US of violating international law over vessel seizure in Gulf of Oman

Iran’s ambassador to UN also accused Washington of ‘continuing internationally wrongful acts’ that breached ceasefire agreement

Hormuz disruption raises risk of global food shock, traders warn

World ‘on borrowed time’ to avert crisis as higher gas prices squeeze fertiliser production

Trump extends Iran ceasefire as peace talks hit impasse

President’s latest mixed signal comes as US sends more troops to region

United Airlines slashes profit forecast as price of jet fuel surges

Company curbs full-year expectations despite record first-quarter sales as Iran war pushes up costs