Abolish ‘triple lock’ on UK pensions to prevent financial cliff-edge, says IFS
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
Ten-year plan for health service will include ‘innovator passport’ to prevent duplication of testing
FT Crossword: Number 18,096
Rachel Zegler is a stunning Eva Perón in Jamie Lloyd’s pulsating new Evita
Andrew Lloyd Webber’s musical is boldly reframed for today inside the London Palladium — plus a view from the street of ‘Don’t Cry for Me Argentina’
US banks announce big shareholder payouts as Fed eases stress tests
Wall Street titans to raise dividends and buy back shares on back of lighter oversight
Peter Thiel joins tech billionaires backing new lender to rival Silicon Valley Bank
Start-up named after the dragon’s mountain in ‘Lord of the Rings’
FirstFT: Donald Trump threatens to increase tariffs on Japan
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
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
Congressional panels issue subpoenas to presidents of Brown and University of Pennsylvania over alleged practice
Senate passes Trump’s ‘big, beautiful’ tax and spending bill
Landmark legislation to extend tax cuts and reduce spending on healthcare now returns to the House
Starmer guts UK welfare reforms to avoid Commons defeat
Government wins vote but watered down measures will leave a multibillion-pound hole in public finances
How the ‘rebel alliance’ took on Starmer over welfare — and won
Plans to cut £5bn from Britain’s spiralling benefits bill lie in tatters after U-turn
Building a big beautiful Europe
Can Europe finally unite its finances?
Former ONS head was allowed to act ‘without check or balance’, says senior MP
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’
Berlin increases controls on vessels heading eastward through the Fehmarn strait
Rachel Reeves faces £5bn fiscal hole after welfare reform U-turn
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
Rules aimed at tightening regime will at first make provision for temporary shortages in non-graduate occupations
Santander to buy UK high street lender TSB for £2.65bn
Spanish bank beat British rival Barclays which also put in a formal bid for the Sabadell-owned unit
US Senate overwhelmingly rejects plan to stop states regulating AI
Controversial proposal for 10-year ‘moratorium’ backed by Big Tech defeated 99 to one in vote
A new front in Trump’s war on the global economy
Exemptions granted to the US on taxation make cross-border business even harder
Labour braces for biggest rebellion of Starmer era over welfare reform
Thirty-nine MPs back new amendment designed to kill bill ahead of Tuesday vote
Fixing up Nike is a marathon, not a sprint
Investors are counting on new chief to turn footwear group’s crisis into an opportunity
What is in Trump’s giant tax-cutting bill?
Package would cut levies by $4.5tn over 10 years while slashing welfare spending and green subsidies
Citadel outshone by smaller hedge fund rivals in trade war turmoil
Ken Griffin’s flagship fund was up 2.5% in the first half of 2025, lagging behind Balyasny and ExodusPoint