Escalating tensions in the Red Sea and missile strikes in Israel underscore the ongoing Middle East conflict, profoundly impacting global oil supply choke points like the Strait of Hormuz, driving up energy prices and leading to economic anxieties and political realignments across Europe and bond markets.

• Iran’s Houthi Allies Lie in Wait on Another Key Oil Route: the Red Sea — Wall Street Journal -
• Even if You’re Not Driving, You’re Probably Using Oil — Wall Street Journal -
• Israel suffers ‘very difficult’ night as missile strikes injure 120 — Financial Times -

• What to Know About Electric Cars When Gas Prices Are Surging — The New York Times Business -
• War in Iran Reveals Strait of Hormuz’s Weakness as an Oil Bottleneck — The New York Times Business -
• US fertiliser bosses cash in as Iran war boosts shares — Financial Times -
• Canada’s oil producers in line for C$90bn windfall from Iran war — Financial Times -
• The Iran war has made clear Europe’s role as bystander — Financial Times -
• Chart of the Week: Global rates show deeper war fears — Financial Times -
• Iran war raises the risk of a bond market shock — Financial Times -
• Iran lets grain ships through Hormuz to shore up food supply — Financial Times -
• Energy crisis upends Rachel Reeves’ growth plan amid hints of recession — Financial Times -
• Iran launches 10mn rial banknote as war triggers dash for cash — Financial Times -
• EU member states urged to lower gas storage targets due to Iran war — Financial Times -
• History is tragically repeating itself in Lebanon — Financial Times -
• The new old world — Financial Times -
• The Israeli border towns driving Netanyahu’s hard line on Lebanon — Financial Times -
• U.S. Pauses Sanctions on Some Iranian Oil to Get More to Market — The New York Times Business -
• Taiwan concerned by depletion of US missile stocks during Iran war — Financial Times -
• Oil Prices Tick Up and U.S. Stocks Fall Sharply — The New York Times Business -

Donald Trump's political actions, from threats to deploy ICE at airports to his attacks on Fed chair Jay Powell's independence, coupled with the passing of former FBI director Robert Mueller, highlight a politically charged environment, alongside a significant ruling against Pentagon press restrictions upholding the First Amendment.

• Trump Says He’ll Send ICE to Airports If Funding Standoff Continues — Wall Street Journal -
• Robert Mueller, former FBI director who led Trump inquiry, dies at 81 — Financial Times -
• Jay Powell extols ‘independence and integrity’ after latest attacks by Trump — Financial Times -

• Judge Rules Pentagon Restrictions on Press Are Unconstitutional — The New York Times Business -
• The Pentagon’s New Press Rules Violate the First Amendment, Judge Rules — Wall Street Journal -

The closure of CBS News Radio and its subsequent layoffs mark a somber moment for traditional media, while Amazon MGM celebrates a hit movie, contrasting with Disney's decision to pull the plug on a new reality show after significant investment.

• CBS News Radio Crackles to a Close — The New York Times Business -
• Amazon MGM Gets a Much-Needed Hit With ‘Project Hail Mary’ — The New York Times Business -
• CBS News Radio, Onetime Home of Murrow, Will End Amid Layoffs — The New York Times Business -

• Disney Sank Millions Into the New ‘Bachelorette.’ Then It Pulled the Plug. — Wall Street Journal -

OpenAI's ambitious plan to double its workforce signals intense growth in the AI sector, as Uber strives to remain competitive in the robotaxi race, highlighting the industry's rapid advancements and the growing demand for atomic power spurred by AI's energy needs.

• OpenAI to double workforce as business push intensifies — Financial Times -
• Uber fights to stay in the robotaxi race — Financial Times -
• The Smartest Minds in AI Just Learned the World’s Most Valuable F-Word — Wall Street Journal -

• Amazon-backed nuclear reactor group X-energy files for IPO — Financial Times -

Vertical farming faces significant challenges, struggling to compete with traditional agriculture, while certain shopping malls experience a surprising resurgence, contrasting with the downward mobility for China's middle-aged reform generation and K-Pop facing roadblocks in China due to geopolitical tensions.

• Vertical Farms Tried to Compete With Open Field Farming. It Isn’t Going Well. — The New York Times Business -
• Not All Malls Are Struggling — The New York Times Business -
• How Five Americans Made It to the Middle Class — Wall Street Journal -

• Why K-Pop Is Hitting a Roadblock in China — The New York Times Business -
• Laid Off in Midlife, China’s Reform Generation Braces for Downward Mobility — The New York Times Business -
• Japan’s bullet trains shift to cargo as seats go unfilled — Financial Times -

The UK government faces scrutiny over unviable "new towns" projects, while Chancellor Rachel Reeves's inheritance tax shake-up prompts a surge in life insurance sales, alongside warnings for tax exiles fleeing Dubai and calls for increased vigilance against hostile state sabotage.

• Life insurance sales surge in wake of Reeves’ inheritance tax shake-up — Financial Times -
• Britain must be more vigilant to the risk of sabotage by hostile states — Financial Times -
• Several projects in Starmer’s flagship ‘new towns’ programme deemed unviable — Financial Times -

• HMRC ‘unlikely to be lenient’ with tax exiles fleeing Dubai, advisers warn — Financial Times -
• Is Britain ready for US-style religious politics? — Financial Times -

Luxury hospitality sees new developments with the relaunch of The Vineta in Palm Beach, while the cult New York jeweller Ten Thousand Things draws attention, alongside discussions on inheritance ethics and an architect's guide to Kuala Lumpur.

• Ten Thousand Things, the cult New York jeweller you need to know — Financial Times -
• The Vineta: Palm Beach’s new beacon for billionaires — Financial Times -
• Is it ever right to give one child more money than another? — Financial Times -

• Architect Shin Chang’s guide to Kuala Lumpur — Financial Times -