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PinkPantheress: Fancy That — figurehead of Gen Z pop knows how to tell a story

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TikTok was the singer’s launchpad but her ethos is less carefree than it seems

Federal Reserve holds rates steady as it grapples with tariff uncertainty

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Monetary policymakers face increasingly difficult battle figuring out how, and when, to take action

EU threatens tariffs on US cars if talks with Washington fail

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Brussels also plans to target aircraft, bourbon and wine in latest retaliation proposals

EU companies in China see some benefit from Donald Trump’s trade war

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Survey finds high tariffs hurting European businesses but also offering chance to win market share from US rivals

OpenAI still has a governance problem

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Remaining under the control of a non-profit board does not negate the risks of increasingly autonomous AI models  

Bill Gates accuses Elon Musk of ‘killing’ children with USAID cuts

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Billionaire reopens feud with Tesla chief as he unveils plan to spend $200bn on philanthropy and close foundation in 2045

The foreign landscape of British politics

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There may no longer be space for two major parties of the traditional middle after Reform’s disruption

Pakistani drone attacks ‘neutralised’, says India, as skirmishes escalate

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New Delhi knocks out air defence system in barrage on Lahore and Rawalpindi

Could the US coal industry make a comeback?

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The power source may be finding a second wind amid swelling demand for electricity

Early US trade pact is a diplomatic win as Starmer struggles at home

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Agreement likely to be narrow in scope and largely an exercise in damage limitation

UK house prices rise ahead of Bank of England decision

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Figures released as central bank is expected to cut interest rates

Carlyle earnings signal buyout pioneer is returning to growth

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Chief Harvey Schwartz expresses optimism US Federal Reserve can act quickly to cut rates if needed

The case for universities

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Institutions everywhere are in crisis, but they will survive

Trump’s tariffs will boomerang on US exporters

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A tax on imports is a tax on exports

China’s ageing population powers the insurance sector

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Life and health insurers are benefiting from both long-term demographic tailwinds and the AI revolution

Nintendo predicts 15mn Switch 2 sales in tariff-hit first year

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Eagerly awaited games console goes on sale in the US next month at a higher-than-expected $450 price tag

BlackRock orders managing directors back to the office five days a week

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Decision is aimed at boosting collaboration as companies roll back pandemic-era policies

Heathrow took 7 hours to restart flights after power restored, report finds

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Root cause of blaze at electricity substation supplying Europe’s busiest airport still not known

Now the Romanian leu is kicking off as well

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A 1990s vibe shift

Maersk boss says upending global trade with tariffs could take decades

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Vincent Clerc says changing supply chains fast using trade war is ‘very unrealistic’

Yvette Cooper’s shadow looms over UK trade ambitions

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Deal with India signals progress, but Home Office still sets terms on government’s immigration strategy

Trump to announce trade deal with UK

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Limited agreement is expected to be focused on UK steel and car exports

Mubadala’s investments surged by a third last year

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Abu Dhabi’s second-biggest sovereign investor has been keen to deploy funds in US regardless of economic uncertainty

Toyota warns profits set to fall 21% as Trump tariffs take their toll

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World’s biggest carmaker’s forecast includes $1.25bn impact from trade levies in April and May

The Fed digs in

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And making sense of Trump’s economic vision

How the EU deforestation law aggravates the trade dispute with the US

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Also in this newsletter: Ukrainian parliament to ratify minerals deal with the US

FirstFT: Trump worries push Europe to prioritise defence ahead of Nato summit

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Also in today’s newsletter, US-UK trade deal and Trump offers to mediate India-Pakistan conflict

Attack in the heart of Kashmir: Pakistanis voice fear after deadly strikes

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Indian assault that killed dozens sparks groundswell of support for retaliation from Islamabad

A resilient US economy can withstand the Trump tariff shock

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International trade and American growth have bounced back from big setbacks before

Germany’s Mittelstand arms itself for a new era

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Country’s small and medium-sized businesses are pivoting to defence amid European rearmament

EU capitals want retaliation against Trump delayed to avoid Nato clash

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Diplomats are urging Brussels to prioritise US security relations and put contentious trade decisions on hold

Trump offers to mediate as India-Pakistan conflict spirals

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Washington has conveyed mixed messaging since massacre in Kashmir last month, say analysts

Is Japanese anime the next global IP gold mine?

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Japan’s distinctive cartoons are attracting worldwide audiences, Hollywood studios and private equity companies alike. Who will reap the rewards?

The Deserters by Mathias Énard — dual storylines inspired by the fallout of war

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The Prix Goncourt-winning author’s newly translated novel explores the abandonment and violence wrought by conflict in Europe

Swatch investor takes aim at family behind Omega and Longines

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Steven Wood accuses Hayek family of sidelining minority shareholders in Swatch Group as he campaigns for board seat

TikTok vs defence: Europe faces a reckoning over the allocation of energy

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Competition for electricity is growing rapidly as conflicts in Scandinavia show

What impact will the UK-India trade deal have?

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London predicts small GDP boost in long run as accord sets out contentious national insurance waiver

Investors are misjudging Trump’s resolve on tariffs, Pimco warns

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Bond giant says Wall Street should ‘believe’ the president’s threats to restore big levies

Has Japan been an ant or a grasshopper?

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Trump’s trade crisis will answer whether the country’s corporates have saved or danced all summer

How can Democrats combat Donald Trump?

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Democratic politicians are either protesting against Republicans or podcasting with them - will either strategy succeed?

Conflict puts Pakistan’s economy at risk

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Tensions between India and Pakistan are threatening to derail Pakistan’s already-fragile economy

China’s Xi attacks US ‘hegemony’ ahead of Putin summit

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Chinese and Russian presidents to signal strength of their alliance in Moscow meeting

Joseph Nye, who coined the term ‘soft power’, dies aged 88

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Former dean of Harvard’s Kennedy School of Government served in two US presidential administrations

US scraps Biden-era rule that aimed to limit exports of AI chips

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Prospect of overhaul to planned regulation offers relief to semiconductor companies such as Nvidia

British chip designer Arm latest to be hit by Trump tariff uncertainty

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SoftBank-owned company reports fourth-quarter results and issues conservative sales outlook

US wants UK military to focus more on Europe and away from Asia

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Pentagon believes British should place more emphasis on their own region in policy shift from Biden administration

Pakistan vows to retaliate after India launches military strikes

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Islamabad said it shot down five Indian military jets in response to assault it claims killed 31 people

Fed warns of rising economic risks as it holds rates steady

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Policymakers say inflation and unemployment could increase as Trump’s tariffs heighten uncertainty

Kashmir crisis as it happened: India launches air strikes on Pakistan; Islamabad vows to respond to ‘act of war’

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Why Pakistan can’t afford another conflict with India

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The country’s economic vulnerability makes a prolonged escalation particularly dangerous