British Airways owner IAG warns Iran war will add €2bn to jet fuel bill
Company plans to recoup about 60% of higher costs through savings and raising ticket prices
Starmer under pressure following dire local election results
Labour has lost around 200 seats and control of eight councils
Labour suffers heavy early losses as Reform surges
Keir Starmer set to come under renewed pressure as ruling party faces dire results in local elections
Toyota warns of $4.2bn hit from Middle East war
World’s biggest carmaker sells record 10.5mn vehicles last year on strong demand for hybrids
Transcript: GameStop’s wild bid for eBay
Marc Filippino talks to Krishn Kaushik, James Fontanella-Khan and Victoria Craig
Sony says cost of developing PlayStation successor will hit gaming profits
Fourth-quarter profit misses expectations amid impairments as $3.2bn stock buyback announced
Quarterly reporting: when is less important than what
Plus, Norway’s rate increase. And dishwashers.
British-Chinese nationals found guilty of spying for Hong Kong
Two men, including former Border Force official, convicted in trial at London’s Old Bailey
FTAV’s further reading
Nappies; Burning Man; vibecoding; Jia Tolentino; horses; and the universe
World Cup madness
BofA weigh up who they think can do it on a warm, balmy night in Jersey — amongst many, many other things
‘Keep calm and carry on’ with Trump, says EU president Costa
Also in this newsletter: Prime Minister Giorgia Meloni expected to reaffirm Italy’s commitment to good ties with Washington
FirstFT: Reform UK surges in early election results
Also in today’s newsletter: US-Iran truce strained and ‘potential’ EU talks with Putin
Big money, hot markets and ‘blissful ignorance’ at Milken
Financiers convening in Beverly Hills were brimming with optimism in spite of the Iran war and stress in private markets
Trump’s World Cup chief defends high ticket prices
‘We don’t really believe in price controls’ says Andrew Giuliani, despite outcry from fan groups
Warming seas are brewing extreme weather in months ahead, scientists forecast
Concerns raised about the development of an El Niño warming cycle this year combined with climate change
Can art triumph in a Venice Biennale marked by protests?
Provocative pavilions and revelatory satellite shows compensate for a fatally flawed main exhibition
US and South Africa hold talks on mining deals after year of tensions
Officials discussed resources investments as Washington tries to break China’s control of critical minerals production
US businesses urge Trump to intervene over new EU consumer rules
American companies fear an update to Brussels’ ‘Product Liability Directive’ will make it easier for consumers to sue
The jury is still out on AI in finance
Recruiting digital natives with critical thinking skills is going to be crucial
Best new thrillers — five pacy tales of money, mafiosi and betrayal
A Sopranos-style story of drugs and family in Bogotá, an interpreter finds that a little knowledge is a dangerous thing, Bond is back — and more
Protectionism makes everyone poorer during global shocks
When countries act to insulate domestic markets, the result is often higher prices and greater volatility
Investors dump Indian assets as energy shock sends rupee sliding
Fallout from Iran war has made fastest-growing major economy ‘not a country to be invested in’
How Hizbollah fought back
The Lebanese militant group was sharply diminished by its 2024 war with Israel — but the latest conflict has shown it is not a spent force
Great rail journeys: across Spain aboard a lavish hotel-on-wheels
Kate Maxwell joins the Al Andalus for its first departure on a new, week-long journey from Madrid to Seville — via multiple cities and millennia of history