The Glam

The case against stablecoins

Is there anything really new about them?

Europe-to-Asia air travel squeezed into narrow corridor after drone attack

Drone attack on Azerbaijan puts further pressure on western airlines

US states sue Trump administration over new tariffs

Democratic attorneys-general say president exceeded authority after Supreme Court struck down original levies

UK police search journalist’s home in China spy probe

Labour suspends Joani Reid, the MP whose husband David Taylor has been arrested in the counterterrorism probe

Iran crisis shines spotlight on ‘threadbare’ Royal Navy

Delay in deploying HMS Dragon to Cyprus has triggered criticism of UK’s defence capability

Trump fires controversial homeland security secretary Noem

DHS leader was seen as responsible for the administration’s heavy-handed immigration crackdown

US oil hits highest price since 2024 as Middle East war escalates

Azerbaijan says it was struck by Iranian drone on sixth day of conflict

Greg Abel starts Berkshire’s first share buyback of post-Buffett era

CEO’s move comes with company’s holdings of cash and short-term Treasury bills at a record $373bn

Iran turns to cheap drones as US and Israel target missile launchers

Shahed and other projectiles dominate Tehran’s retaliation

Thousands flee Beirut after sweeping Israeli evacuation order

Israel orders area of hundreds of thousands of people cleared as war rages with militant group Hizbollah

Nissan warns of Sunderland closure if UK excluded from ‘Made in Europe’ rules

EU proposals presented on Wednesday require vehicles for corporate fleets and small EVs to be assembled within the bloc

The AI PR problem

Sector companies have been slow to address the concerns of ordinary people over the technology

Lessons from Anthropic’s battle with the Pentagon

Guardrails around the state’s use of AI warrant deeper and democratic deliberation

Bankers’ bumper year for IPOs isn’t quite going to plan

With volatility high, few companies hoping for a credible first-day performance want to brave choppy waters.

Germany secures US sanctions exemption for Rosneft refinery

Move spares Berlin from risk of major fuel supply disruptions

Saba Capital offers steep discount for Starwood real estate shares

Hedge fund seeks stake in fund that sharply limited investor redemptions in 2024 at 20% haircut

Glencore wades into battle for former FTSE miner

Swiss group proposes to support Shakhmurat Mutalip, who is close to finalising deal for a stake in Eurasian Resources Group

China sets cautious climate goals in five-year plan as coal remains core

‘Underwhelming’ target leaves room for increase in energy and industry emissions in years to 2030, experts say

The transatlantic tussle over UK drug pricing

Plus, the gap between Rachel Reeves’ rhetoric and her spending plans

Money Beyond Borders — the making and breaking of global currencies

The US dollar’s future is explored in Barry Eichengreen’s well-informed history on purchasing power in the monetary market

Jessie Buckley and Christian Bale in madcap monster movie ‘The Bride!’; a big-screen outing for ‘Peaky Blinders’; epoch-spanning German drama ‘The Sound of Falling’; Pixar’s robot-beaver caper ‘Hoppers’; desert rave and road-trip thriller ‘Sirāt’; five-stars for Brazilian Oscar nominee ‘The Secret A