International - Financial Times - Credit Squeeze

Wall Street’s S&P 500 ended the session up 0.5%

Also in today’s newsletter, US Treasury calls on Congress to scrap foreign revenge tax in Trump bill, and the private equity-insurance nexus

Purported pact follows negotiations in London and Geneva to de-escalate global trade war

May reading flips cumulative growth for this year to a 1.1 per cent decline

Also in this newsletter: EU politicians travel to Budapest Pride despite Orbán’s ban

Veteran Dutch policymaker says central bank would have taken ‘more pain’ to tackle post-pandemic price rises if it had to

Calls for European governments to repatriate the bullion they store in the US are a sign of something bigger

A cost of living crisis and social unrest are throwing the strongman leader’s plan to stay in power into jeopardy

Officials emphasise ‘openness and fairness’ as Beijing presents itself as a stabilising force in the world

Also in this newsletter: a new factory for Jaguar Land Rover, and an Indian in space after 40 years

Output plunges after Aston Martin and other British carmakers halt exports to the US

Scott Bessent says deal with G7 would stop global minimum taxes from applying to American companies

iPhone group will make it easier for developers to promote offerings

Official data fuels concerns over Labour’s ambition to attract foreign capital to Britain

Andrew Bailey highlights lower labour demand and predicts ‘significant decline’ in wage growth

Brussels has warned German chancellor not to expect UK-style carve-out for car sector in EU deal with Donald Trump

The UK must ease skilled visa rules to attract the top talent leaving the US before they are lured elsewhere

Figures are latest to show distortion to trade caused by US president’s ‘liberation day’ trade levies

Also in today’s newsletter, dollar sinks to a three-year low, and how the next financial crisis starts

Preparing for a post-American world (part 2)