Yen weakens to lowest level in 40 years
Japanese currency slides past ¥162 a dollar as Federal Reserve’s hawkish shift piles on pressure
Amazon is now the biggest foreign investor in India’s AI sector
Also in this newsletter, weaponised drones made in India
Letter: EU should resist calls to water down its methane regulation
From Sir David King, Founder, Climate Crisis Advisory Group; Former UK Government Chief Scientific Adviser 2000-2007
Letter: Chocks away on Brussels’ biometric border chaos
From Ourania Georgoutsakou, Managing Director, Airlines for Europe (A4E), Brussels, Belgium
Farage attempts to justify large donation from Christopher Harborne
‘If a billionaire gave me £5mn to do with as I pleased, I’d spend some of it on acting lessons’
Letter: Horns of a dilemma?
From Paul Hofseth, Oslo, Norway
Letter: UK electoral experience at odds with Meloni’s claims
From Maurizio Zanardi, Professor of Economics, University of Sussex Business School, Brighton, UK
Clarification: John Van Reenen
John Van Reenen is a former chair of Rachel Reeves’ economic advisory council
Investigation into maternity care in England finds ‘overall system failure’
Government accepts proposal to appoint a national maternity and neonatal commissioner
UK regulator waters down landmark crypto rules
FCA eases capital and disclosure requirements after complaints that incoming digital assets regime was too onerous
‘Tooth fairy’ payout nears £5 as UK childhood finances overtake inflation
Annual survey also shows the average child gets £10 per week in pocket money
FT Crossword: Number 18,413
Chinese exile Miles Guo given 30 years in prison for $550mn fraud
Businessman had fled to the US claiming persecution and then allied himself with the Maga movement
Ethiopia makes deal to cut payments on $1bn bond
Bondholder agreement comes after $8bn of debt relief from official creditors in recent years
Keir Starmer to unveil defence plan with £5bn for drones
Long-delayed blueprint is unlikely to end military figures’ calls for more funding
FirstFT: Supermicro’s Taiwan offices raided in chip smuggling investigation
Also in today’s newsletter: China grounds light aircraft after Beijing crash and foreign investors fear Japan is backsliding on reform
Foreign investors fear Japan is backsliding on reform
Pendulum ‘swinging back towards economic nationalism’, warns one private equity executive
Maersk raises profit guidance as new US tariffs fuel demand
American companies rush to stockpile goods ahead of fresh round of levies
Burnham vows to ‘rewire’ British state
UK’s prime minister-in-waiting takes aim at centralisation and promises voters help on living costs
Supermicro Taiwan offices raided in chip smuggling probe
Server maker’s shares fell about 8% after news of the investigation
EU sets deadline of October for reduction in trade deficit with China
European commissioner Maroš Šefčovič demands action after meeting Chinese commerce minister Wang Wentao
ECB does not need to fight inflation with ‘same force’ as in 2022-23, Lagarde says
President of central bank signals that there could be a modest increase in interest rates
Grim legacy of ‘Chavismo’ hinders Venezuela’s earthquake response
Socialist regime’s US-backed leader is facing a crisis as anger mounts over inadequate rescue efforts
BT’s turnaround is in the home stretch
A streamlined domestic business and the end of a hefty investment programme mean it will soon start to generate cash