Indian banking billionaire calls for support against Trump tariffs ‘shock’
Uday Kotak joins chorus of tycoons exhorting PM Narendra Modi to bolster economy with investment and reforms
International - Financial Times - Credit Squeeze
How the Fed should deal with US stagflation risks
Caution should continue to be the watchword in Jackson Hole until the impact of Trump’s policies are better understood
The Iranian connection: how China is importing oil from Russia
Networks of brokers and shipowners from Panama to Switzerland are becoming expert at circumventing international sanctions
Powell to deliver Jackson Hole address under fire on multiple fronts
Federal Reserve chair is under bombardment from Donald Trump and battling an insurgency within the central bank
Trump’s war on economic independence
The autonomy of institutions is under severe threat
FirstFT: S&P affirms US credit rating
Also in today’s newsletter, plans for Putin-Zelenskyy meeting and SoftBank’s $2bn Intel investment
UK’s post-pandemic GDP recovery is revised up by statistics office
Revisions driven in part by improvements to ONS estimates of research and development activity
Retail sales or payrolls: which is right about the US economy?
Plus volatility suppression, and data centre depreciation
African Development
Governments of African countries need to adapt to the cuts in assistance; development finance institutions could fill gaps left by the retreat of aid; Japan eyes low-cost debt to mitigate aid cuts; Malawi introduces teaching tablets to children across the country
No, Trump is not ushering in a new global trading order
The US is simply denying itself the benefits of the system that already exists
Africa must deal with a world of shrinking aid
Despite the sweeping cuts to financial assistance there has been surprisingly little protest from the continent’s nations
China and India seek to repair strained ties ahead of Modi-Xi meeting
Beijing’s foreign minister visits New Delhi as rivals ease tensions amid Donald Trump’s trade war
Can a better and simpler tax help India offset hit from Trump tariffs?
Also in this newsletter: ties with China thaw, and Sonia Dasgupta’s mantra
Brazil deadlocked with US over 50% tariffs, finance minister says
Reduction in high levies depends on Washington being open to talks, according to Fernando Haddad
India struggles to escape the Trump tariff trap
Narendra Modi’s push for the country to become a low-cost goods exporter has made it vulnerable
‘Russia is now a gas station that is producing tanks’
A podcast cross-promotion post
FirstFT: Zelenskyy and European leaders to press Trump on security guarantees
Also in today’s newsletter, Citi’s raid on JPMorgan’s investment banking staff and Bolivia’s swing to the right
Trump tracker: the latest data on US tariffs, trade and economy
As the president launches a trade war, follow the latest on tariffs and executive orders
India’s oil lobby is funding Putin’s war machine — that has to stop
Its dependence on Russian crude undermines the effort to isolate Moscow
What can really cure deflation in China?
Cutting excess capacity is not enough — Beijing must rebalance towards consumption
Global Economy
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