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Good morning and welcome again to FirstFT Asia. As we speak we’re overlaying:
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Trump hints at Iran talks
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Why Massive Tech can not agree on AGI
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China’s drone push
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Zuckerberg’s macho-man makeover
Donald Trump has stated there could possibly be new talks with Iran within the “near future” and that he would determine whether or not to hitch Israel’s assault on the nation “within the next two weeks”.
What to know: Trump appeared to sign that he was slowing down his resolution about getting into the struggle, at the same time as American army belongings velocity to the area. The US president’s assertion yesterday stated there was a “substantial chance of negotiations that may or may not take place with Iran in the near future”. White Home press secretary Karoline Leavitt additionally confirmed that the US had stored open its negotiations with Tehran throughout days of missile exchanges between Iran and Israel.
Gulf nervousness: Arab monarchies are looking for to remain near their regional rival Tehran, as they worry turning into targets for retaliation if the US strikes Iran. They worry US involvement would put Gulf states that host American army bases within the line of fireside, and will even strangle their oil and gasoline exports if Iran retaliated by closing the Strait of Hormuz. In the meantime corporations in monetary centres reminiscent of Dubai and Abu Dhabi are readying contingency plans in preparation for any potential spillover of the struggle.
Comply with our stay weblog for the most recent information — and see extra protection beneath:
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The dangers of Iranian retaliation: As Trump and his advisers weigh whether or not to hitch Israel in hanging Iran, the US president may even be contemplating how Tehran may reply.
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Iran’s exiled royal: “This is the first time in all these years that we see the playing field being more even for an opportunity for change,” Reza Pahlavi tells the FT.
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Opinion: A weakened Tehran may settle for a face-saving deal and sanctions reduction to avert a US assault, writes Richard Haass.
Right here’s what else we’re conserving tabs on as we speak and over the weekend:
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Financial information: Japan and Hong Kong report Might CPI inflation information. South Korea reviews PPI figures for the month.
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Financial coverage: The Folks’s Financial institution of China makes its mortgage prime fee announcement.
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Vladimir Putin: The Russian president is ready to seem as we speak at an financial convention in St Petersburg — a gathering that has failed to draw western corporations.
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Japan: IMF managing director Kristalina Georgieva begins a go to to Japan on Sunday.
How properly did you retain up with the information this week? Take our quiz.
5 extra high tales
1. The Boeing Dreamliner jet in final week’s lethal Air India crash had a “clean history” and two lately serviced engines, the airline’s chair has stated. N Chandrasekaran, who can also be chair of the service’s proprietor, Tata Group, pushed again on “speculations” about what prompted the nation’s worst air catastrophe in virtually three a long time.
2. X chief govt Linda Yaccarino has stated that customers will “soon” be capable to make investments or trades on the social media platform, as she outlined a push into monetary companies in proprietor Elon Musk’s quest to construct an “everything app”. Yaccarino instructed the FT: “You’ll be able to come to X and be able to transact your whole financial life on the platform.” Learn the interview.
3. Japan’s Nippon Metal has stated it may subject fairness to fund billions of {dollars} of promised funding in US Metal, after its almost $15bn takeover of its American rival closed following a 12 months of political wrangling. “Given the massive amount of capital required, [a capital raise is] certainly something we are keeping in mind,” stated vice chair Takahiro Mori at a press convention in Tokyo yesterday. Learn the total story.
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‘Stick-holder capitalism’: Nippon Metal’s takeover of US Metal is the primary huge cross-border settlement beneath Trump’s new style of capitalism, writes Leo Lewis.
4. A former Janus Henderson analyst who used working from house as a canopy for insider buying and selling has been discovered responsible in probably the most high-profile UK insider dealing instances lately. Redinel Korfuzi, who made income of almost £1mn, was convicted of insider buying and selling and cash laundering alongside his sister.
5. New Zealand has suspended funding to the Prepare dinner Islands over the Pacific archipelago’s deepening relationship with China. The transfer marked the most recent occasion of what analysts have referred to as Wellington’s extra assertive strategy to smaller Pacific island nations in response to Beijing’s rising diplomatic and financial affect within the area.
The Massive Learn
Synthetic normal intelligence has been tipped as the subsequent huge breakthrough out of Silicon Valley, with proponents from OpenAI to Google DeepMind predicting it could possibly turbocharge the financial system, treatment ailments and “elevate humanity”. However is AGI a scientific aim — or simply a advertising and marketing buzzword?
We’re additionally studying . . .
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Chinese language drones: Beijing has pushed the nation to supply hundreds of thousands of unmanned plane. Now, it needs the “low-altitude economy” to develop into a driver of development.
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FT Journal: Mark Zuckerberg’s macho-man makeover shocked liberals at Meta, however his closest allies say that is who he was all alongside.
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Asia-Pacific local weather leaders: The area’s demand for power has made it harder to fulfill the challenges of decarbonisation. Listed here are the businesses that high our record.
Chart of the day
Chinese language, Indian and south-east Asian universities had a sturdy displaying within the newest QS world rankings, whereas the vast majority of UK establishments dropped down the record for a second straight 12 months. The rankings replicate the next training arms race.
Take a break from the information
“Trains in Japan are so good that few people consider driving through the country,” writes David Coggins. The Peninsula resort group’s Japan Driving Expertise has got down to change that.
