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Helsing

Drone start-up Helsing set for $18bn valuation as investors pile into defence

German company backed by Spotify’s Daniel Ek set to raise $1.2bn in latest funding round

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US insurance industry

How insurance became the lifeblood of private credit

Deutsche Bank AG

How Deutsche Bank rolled out the red carpet for Jeffrey Epstein

Dassault Aviation SA

Dassault: the defence group blocking the €100bn Franco-German jet project

Health sector

‘I wouldn’t dare take these drugs’: how China supplies untested peptides to the west

Private equity

How private equity’s pioneer in tapping retail money lost its edge

European companies

The secretive powerbroker with a tight grip on corporate Spain

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• May 9 2026
  Scoreboard

  NBA Europe’s path to profit

  Also in today’s newsletter: what a boutique bank takeover says about sports

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• May 9 2026
  WH Smith PLC

  Lex. WHSmith’s new owner makes a contrarian bet on the UK high street

  Modella Capital plans to cut as many as 150 WHSmith stores out of the 480 it acquired and bring in new goods and services

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• May 9 2026
  UK insurance industry

  Lex. Standard Life and CVC square the circle on defined-benefit pensions

  There are more than £1tn of assets sitting in UK retirement schemes that could be picked up in risk transfer deals

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• May 9 2026
  Retail investing

  Europe’s €14tn cash pile benefits banks not retail investors, BlackRock warns

  World’s largest asset manager says governments must address under-investment of retail money in capital markets

  
• May 9 2026
  Property sector

  Retail investors turn away from commercial property holdings

  Rising interest rates and lower demand have hit returns in the past decade

  
• May 9 2026
  Life & Arts

  FT Magazine. The sailors who keep ‘ghost’ tankers moving

  Working on an oil tanker under sanctions was a job like any other — until they ended up in the line of fire 

  
• May 9 2026
  US banks

  Goldman’s big board bet

  Bank’s management committee has swelled to a much larger size than those of its competitors

  Joshua Franklin

  
• May 9 2026
  Americas companies

  Brazil ends IPO drought as Iran war fuels stock market rally

  São Paulo exchange emerges as indirect beneficiary of turmoil in the Gulf

  
• May 8 2026
  Aerospace & Defence

  Turkey unveils new missile touted as able to hit US mainland

  Promotional AI video showed Yıldırımhan missile seemingly striking nuclear sites in America well beyond its range

  
• May 8 2026
  Middle East war

  LNG carriers test Iran blockade in Strait of Hormuz

  Pakistan cancelled plans to buy cargoes on spot market because it expected Gulf shipments to resume

  
• May 8 2026
  Mergers & Acquisitions

  Billionaire James Packer among backers of Architect’s OnlyFans deal

  Australian mogul’s funds to invest in Architect Capital SPV taking a minority stake in platform

  
• May 8 2026
  US equities

  Lex. While AI pumps up portfolios, some companies sound the alarm

  The clout of Big Tech groups is obscuring the precarious state of others

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• May 8 2026
  Aerospace & Defence

  Pentagon publishes dozens of files on alleged UFOs

  The public can ‘make up their own minds’ on strange sightings, says US defence department

  
• May 8 2026
  Hedge funds

  Alphaville. David Einhorn wants ladies in ‘sexy party clothes’ at his hedge fund party

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• May 8 2026
  Person in the News

  Ryan Cohen, the rebel CEO who disdains corporate America

  His $56bn hostile bid for eBay has baffled Wall Street, but it could be the world’s first meme stock-driven deal

  
• May 8 2026
  Investor activism

  Activist Oasis builds its Capita stake to 15% before AGM

  Hong Kong-based investor had steadily increased its exposure to UK outsourcer via swaps

  
• May 8 2026
  TCI Fund Management

  Chris Hohn’s hedge fund slashes $8bn Microsoft stake in warning over AI disruption

  TCI has cut its position in tech giant from 10% to 1%

  
• May 8 2026
  European banks

  Commerzbank to cut 3,000 jobs as it seeks to fend off UniCredit

  Italian bank has built a roughly 30% stake in Germany’s second-largest listed lender

  
• May 8 2026
  IPOs

  Uber-backed electric bike start-up Lime files for $2bn IPO

  Operator of bright green e-bikes and scooters plans US listing this year

  
• May 8 2026
  Moral Money

  The fusion power race is heating up

  Start-ups ride a funding wave as governments eye transformative potential

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• May 8 2026
  Oil & Gas industry

  The energy shock is not all about price

  Low stocks of crude and products in Europe are bigger risks for the continent

  
• May 8 2026
  FirstFT

  FirstFT: Big Tech’s free cash flow plummets

  Also in today’s newsletter: Donald Trump’s 10% global tariffs ruled illegal

  
• May 8 2026
  Airlines

  British Airways to raise business class prices after €2bn jet fuel hit

  IAG seeks to recoup about 60% of higher costs through savings and fare increases

  
• May 8 2026
  South East Water PLC

  South East Water chief quits after calls for management clear-out

  Utility has been heavily criticised over supply failures and outages

  
• May 8 2026
  Political espionage

  British-Chinese nationals found guilty of spying for Hong Kong

  Two men, including former Border Force official, convicted in trial at London’s Old Bailey