▆ How the UK can stop accidentally exporting its best tech start-ups
Better give start-ups reasons to stay than make it harder to leave
▆ Russian gold floods through Hong Kong in wake of western sanctions
Shipments hit record high with almost 100 tonnes imported from Russia in first seven months of this year
▆ US regulator sues ISS as it steps up scrutiny of proxy advisers
The SEC accuses the firm of ignoring a subpoena as part of its ‘fact-finding investigation’
▆ US strikes three Iranian oil tankers in response to attacks on warships
Military action over Strait of Hormuz continues to escalate after pause in six-month-old conflict
▆ Treasury sell-off piles pressure on weakest US borrowers
Spreads on riskiest junk debt have climbed to their highest level since the market meltdown that followed last year’s ‘liberation day’ tariff blitz
▆ Jefferies fund caught with $500mn exposure to second alleged invoice fraud
Point Bonita, which bankrolled collapsed First Brands Group, emerges as big creditor to Radiant World
▆ The gloves are starting to come off in markets
Wall Street analysts and investors are more willing to directly criticise Trump, particularly since a Treasury intervention on bonds
▆ The repo market is the ‘dark matter’ of finance: powerful and perilous
How worried should we be about the multitrillion-dollar market’s influence over the cosmos of central banks, bonds, pension plans and private credit firms?
▆ Anthropic close to awarding Morgan Stanley and Goldman top roles in $2tn IPO
AI giant on track to unveil paperwork underpinning its blockbuster Wall Street debut as soon as next week
▆ Why Berkshire Hathaway might be an active hedge
The financial citadel is well positioned if there are market dislocations
▆ Are credit rating agencies getting fed up with hyperscalers?
A change in tone
▆ Venezuela’s jumbo oil deal does little to appease its creditors
Ordinary bondholders will want evidence that Caracas can produce and sell enough oil, in dollars, to repay what is left of their debt
▆ Japan’s vital link between Bessent, Takaichi and markets
Finance minister is a pivotal figure for relations with Washington and global investors
▆ Trump’s Iran war sends US diesel prices to record high
Cost of fuel crucial to American industry rises above 2022 peak, threatening new inflationary burst ahead of November elections
▆ EQT strikes $2bn deal for insurance broker McGill
Acquisition is latest example of private equity investing in insurance sector
▆ UK set to approve Jackdaw gasfield within weeks
Green light for North Sea facility likely to be fiercely opposed by climate scientists and environmental campaigners
▆ Fear not the bond market skinny dippers
Rising yields reflect higher AI-led growth, which means swimming costumes for all
▆ More stock ownership, weaker monetary policy?
A counterintuitive quirk
▆ The $275mn question from Guggenheim’s auditor
KPMG warned the asset manager about weak controls within its business last year
▆ Spain pushes for EU oil and gas tax to pay for climate change response
Rising extreme weather costs fuel campaign ahead of new resilience strategy
▆ Manager of Norway’s $2tn oil fund proposes slashing US Treasury holdings
Overhaul of bond positions suggested to Ministry of Finance aims to boost returns
▆ Why the US and Iran keep escalating
As Trump hardens his stance over negotiations, Tehran remains determined to keep the Strait of Hormuz closed
▆ A UK bank windfall tax would be a terrible idea
Further penalty would hit one of the key engines of growth in the economy
▆ Chime is a winner when consumer finance goes K-shaped
The US fintech provides a valuable lesson for newly listed companies: being reliable is key
▆ Trump-linked companies race to secure deals for Venezuela’s oil
Appointees, a donor and a recent administration official are among those capitalising on US control of beleaguered energy sector

Click on any headline to see the full article on the Financial Times website, FT.com.