The Glam

Oil cargo prices surge as fears of supply shortage grip market

Address by Trump signalling possible escalation of Iran conflict raises prospect of prolonged closure of Strait of Hormuz

FTSE 100 retailer urges the government and London mayor to better support the police

Also in today’s newsletter: China hosts Pakistan-Afghanistan peace talks, and Blue Owl struck by $5.4bn of redemption requests

Lucy Fisher talks to Jim Pickard, Anna Gross and Robert Shrimsley

While Indians run some of the world’s biggest finance and tech companies, the country’s own aviation sector needs to import talent

The lasting effects of a best-case scenario

Loyalist’s exit comes after pressure over her handling of files related to Jeffrey Epstein

West Texas Intermediate settles at highest since mid-2022 on US president’s threat to hit Iran ‘extremely hard’

ChatGPT-maker moves into broadcasting with deal for TBPN after it had pledged to abandon ‘side-quests’

White House also rolls back levies on some metals in an attempt to simplify duties

Franco-Dutch and German carriers have been eyeing TAP privatisation for months

But 41 nations discuss how to increase diplomatic pressure on Iran to restore full shipping access to the strategic waterway

Tech showman seeks to tap the Fomo factor with a market sales pitch for the ages

Loss equates to about half of total US dollar value on deposit with platform popular for trading perpetual derivatives

Accord will result in higher medicines spending in Britain in exchange for exemption from threatened Trump tariffs

Fossils from south-west China offer new clues to date of crucial evolutionary period

Ten topical questions to test your news nous

Economists’ lurid forecasts of disaster have not been realised

Attempt by Boaz Weinstein’s Saba to take over EWIT’s board has prompted plea for regulatory overhaul

Plus, lessons in handling a fuel crisis

Guide to the Climate Graphic of the Week

Private credit firm caps withdrawals after investors attempted to pull more than 40% from one fund

Bank’s stock has fallen by a fifth this year, twice as much as the European banking index