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MPs vote to proscribe Palestine Action as a terrorist organisation

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The House of Commons backs UK government’s proposal by 385 votes to 26

Give commerce a chance in eastern DR Congo

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Truce with Rwanda is a test case for Donald Trump’s transactional diplomacy

Trump budget reduces support for US minerals despite trade concerns

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Legislation will raise costs for companies that extract lithium, nickel, cobalt and magnesium

Trump says US has struck trade deal with Vietnam

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President says Vietnamese exports to US will be subject to 20% levy

Microsoft to cut 4 per cent of staff in new wave of lay-offs

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Latest firings take job losses to 7 per cent of computing group’s workforce since January

Head of Royal Navy sacked after conduct ‘fell far short’ of expected standards

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Admiral Sir Ben Key exits after investigation into inappropriate behaviour

Trump presses Republican House dissidents to pass US tax bill

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Legislation’s deep healthcare cuts and implications for national debt spook parts of president’s party

UK halts resettlement scheme for Afghans who worked alongside British forces

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Arap programme suddenly ended as government says 95% of new applications are ineligible

Podcast: The Wolf-Krugman Exchange

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With huge economic and political shifts taking place, what will replace the old world order?

Which UK taxes are expected to rise in the autumn Budget?

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Chancellor faces some unpalatable options in the wake of Labour’s costly retreat on welfare

Tesla quarterly deliveries fall more than expected

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Electric vehicle maker grapples with increased competition and blowback from Elon Musk’s political activism

UK bonds and pound hit on doubts over Rachel Reeves’ future after tearful PMQs

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Chancellor visibly upset in House of Commons as prime minister declines to say she will remain in her post

Satellite backed by Google, Bezos and Musk to track methane is lost in space

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Loss of satellite hampers monitoring of invisible gas driving significant share of global warming

Tariffs test Japanese carmakers’ shock absorbing powers

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US remains most lucrative market for country’s automakers despite low sales expectations after Trump trade policy

UK’s City watchdog expands rules on bullying and harassment

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Financial Conduct Authority says more financial services companies will have to report cases of serious misconduct

Keir Starmer is preferable to his party

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The UK prime minister is weak but Labour MPs are deluded about fiscal reality

UK Supreme Court divorce case sets precedent for dividing up assets

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Clive Standish transferred investments worth £78mn to his wife but argued they had not become ‘matrimonialised’

Ukraine summons US embassy after Washington halts some arms supplies

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Reduction in weapons shipments makes Kyiv more vulnerable to Russia’s escalating attacks

UK benefits bill will keep rising without NHS reform

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Ministers want to get the sick into work, but without proper support for chronic illness the costs will increase elsewhere

Hong Kong property group’s shares jump 11% after refinancing talks close

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New World Development had been on hook for $11bn in bank loans

Dalai Lama asserts ‘sole authority’ to decide successor ahead of 90th birthday

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Tibetan Buddhist leader claims control over reincarnation process contested by Beijing

How unholy alliances are defining fight for next EU budget

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Also in this newsletter: Brussels fudges 2040 climate target

Sabotage suspected as mystery blasts hit oil tankers

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Five vessels hit with limpet mines this year shortly after visiting Russian ports

Kennedy is a shot in the arm for the anti-vaccine movement

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The US appears to be turning its back on a scientific consensus that has relegated several diseases to history

European junk bond sales hit record as investors cut US exposure

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June issuance of about €23bn comes as companies take advantage of lower borrowing costs

EU blocks Britain’s attempts to join pan-European trading bloc

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The Pan-Euro-Mediterranean (PEM) convention would reduce exporters’ post-Brexit difficulties with supply chains

EU to exempt heavy industry from carbon tax on exports

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Concessions to support European producers in the face of foreign competition follow calls to ease climate targets

Gulf oil giants tighten their belts

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Plus, Standard Chartered battles 1MDB lawsuit and Santander buys TSB

Zohran Mamdani is wrong — of course billionaires should exist

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The democratic socialist candidate to be mayor of New York mistakenly believes that the economy is a zero-sum game

Market squalls threaten to throw container shipping off course

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How does an industry that built and benefited from globalisation survive when its main cheerleader turns on it?

Mpox epidemic is straining African health systems after US aid cuts

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More than a dozen nations struggling to contain outbreak as health systems struggle with loss of international support

US steps up pursuit of hackers linked to North Korea’s nuclear programme

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Lazarus Group cited in recent digital currency heists suspected of funding regime’s weapons of mass destruction

Hong Kong’s bull run leaves China in the dust

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Mainland equities are flat in first six months of 2025, while Hang Seng index has gained 20%

How oil traders called the Middle East war

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The oil market predicted the twists and turns of the Israel-Iran conflict

The Wolf-Krugman Exchange: The future of the postwar system

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Can US democracy and the postwar economic system survive the Trump administration?

Philanthropists find new ways to give in the face of Trump’s opposition

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Responses include financial support for democracy programmes and building alliances

Qantas hit by cyber attack after FBI alert on ‘Scattered Spider’ group

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Australian airline investigating whether hacking group that targeted M&S are behind customer database breach

Is Trump’s ‘big, beautiful bill’ a political curse for Republicans?

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A legislative win for the president could hurt his party given the tax and spend measure’s low popularity

Abolish ‘triple lock’ on UK pensions to prevent financial cliff-edge, says IFS

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Millions of private sector workers will see sharp drop in living standards under current system, study finds

NHS hospitals can use any approved medical kit under plans to cut admin

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Ten-year plan for health service will include ‘innovator passport’ to prevent duplication of testing

Tech billionaires back new lender Erebor as Silicon Valley Bank rival

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Start-up named after the dragon’s mountain in ‘Lord of the Rings’

FirstFT: Donald Trump threatens to increase tariffs on Japan

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Also in today’s newsletter, Standard Chartered hit with $2.7bn lawsuit over 1MDB scandal and Trump’s tax bill passes the Senate

Trump threatens to raise tariffs again on Japan

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US president not intending to extend July 9 deadline before hitting trading partners with more levies

US lawmakers step up antitrust probe into Ivy League university pricing

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Congressional panels issue subpoenas to presidents of Brown and University of Pennsylvania over alleged practice

US banks announce big shareholder payouts as Fed eases stress tests

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Wall Street titans to raise dividends and buy back shares as investors reap reward of lighter oversight

How the ‘rebel alliance’ took on Starmer over welfare — and won

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Plans to cut £5bn from Britain’s spiralling benefits bill lie in tatters after U-turn

Officials let former ONS head act ‘without check or balance’, says senior MP

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Committee probes UK Statistics Authority’s role in overseeing Sir Ian Diamond, who resigned as national statistician in May

Germany launches insurance crackdown on Russian ‘shadow fleet’

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Berlin increases controls on vessels heading eastward through the Fehmarn strait

Rachel Reeves faces £5bn fiscal hole after welfare reform U-turn

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Chancellor is being pushed to bend her rules on borrowing to fund higher spending

UK visa revamp allows lower-skilled office workers to come to Britain

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Rules aimed at tightening regime will at first make provision for temporary shortages in non-graduate occupations