FirstFT: Japan frustrated at Trump administration’s silence over dispute with China
Also in today’s newsletter: Hong Kong’s low turnout election, and Chinese phonemakers attempt to win over iPhone users
America’s widening economic divide endangers Trump’s midterm hopes
Diverging fortunes of rich and poor have turned the economy from an asset to a liability for the US president
Hongkongers sit out first election since deadly fire
Authorities struggle to win mandate for ‘patriots only’ system of governance as only 31.9% of voters cast ballots
Central bankers take centre stage
US sets interest rates, Magnum Ice Cream Company starts trading and Australia’s under-16 social media ban begins
There is already an answer to securing Sudan’s future
A grassroots network is providing life-saving food and medical care to citizens in a country where the state no longer exists
McLaren’s Lando Norris wins F1 world title even as Verstappen takes showdown
British racer secures team’s first drivers’ championship since Lewis Hamilton in 2008
Coup attempt in Benin thwarted, says interior minister
Soldiers appeared on national television, saying they had taken over the country
Fed expected to cut rates despite deep divisions over US economic outlook
FT-Chicago Booth survey cites concern among officials about impact of weak jobs market and high prices on Americans
Lawmakers warn Trump administration against heavily redacting ‘Epstein files’
They fear justice department could seek to withhold sections of documents as deadline approaches
Merz seeks to reset relations with Netanyahu in first visit to Israel
German chancellor makes efforts to mend ties after disagreements with Israel on Gaza conduct
The EU stumbles to an imperfect solution for funding Ukraine
Europe has cards. But will it manage to play them?
America’s economy is at the mercy of crony capitalism
The Trump administration’s approach to ethics could eventually cost investors in US assets
Will the Federal Reserve deliver a dovish message?
Market Questions is the FT’s guide to the week ahead
Young people risk losing benefits under UK welfare reforms
Youths will have to accept offers of work or training as part of government plan, says McFadden
America’s affordability crunch is real — and worse under Trump
The president may pretend it’s a hoax but his policy agenda has added to the squeeze
Japan frustrated at Trump administration’s silence over row with China
Tokyo asks US to be more vocal in its support after Beijing reacted furiously to prime minister’s comments about Taiwan
This party season, embrace the ‘vulnerability hangover’
The summer gathering may be about networking but this time of year is for letting it all hang out
‘Unbearable imbalances’ cast shadow on Macron’s Beijing bonhomie
French president’s visit to China highlights growing fears about existential threat to European industries
Ben & Jerry’s founders told to ‘hand over to a new generation’ by Magnum boss
Ben Cohen hits out at Peter ter Kulve as Unilever completes ice cream demerger
Should Europe fund Ukraine? It can’t easily afford not to
Funding Kyiv’s war effort is a better return on bloc’s buck than having to deter a victorious Moscow itself
EU expands carbon border tax to garden tools and washing machines
Changes are intended to close loopholes in law to prevent carbon-intensive imports
Hollywood fears job cuts as opposition to Netflix-Warner deal grows
Actors, screenwriters and theatre owners warn of fewer cinematic releases and less innovation
Ukraine’s Black Sea attacks trigger surge in shipping insurance prices
Russian-linked oil tankers and bulk carriers face steepest increases, broker says
How Trump ally Dan Katz will test the IMF
Top Republicans want the Washington-based institution to take a tougher stance on China