Also in today’s newsletter: Anthropic researcher quits and warns labs are ‘gambling’ with humanity’s future and Bessent warns traders not to bet against the Treasury

Partners are faced with a model that combines export-led growth with tech supremacy

Brics summit expected to bring China’s leader to India for first time in seven years after cautious diplomacy to put bilateral relations back on track

Move comes a day after Ottawa imposes $20bn in retaliatory tariffs on US goods

Comments by Andrew Bailey add to problems facing Andy Burnham ahead of next month’s Budget

President’s post on social media comes hours before Ottawa’s retaliatory trade measures against Washington

Once the Celtic Tiger, now the tail that wags the bloc

High public deficits and debt undermine central banks’ ability to control inflation

Also in today’s newsletter: Oil approaches $100 a barrel and China’s monthly exports surge

Headline and regular pay growth measures accelerated

Data released ahead of crucial meeting between Donald Trump and Xi Jinping on extending tariff truce

Wars and the growth of the shadow fleet are causing a ‘structural shift’ in global trade, according to 18 maritime authorities

Many countries now spend more on debt servicing than defence, including the US, France and the UK

Informal conventions on restructurings need to give way to clearer international rules

Car parts chief says salvaging auto industry is crucial for steel, aluminium, glass and chemical sectors

Tech giant plays ‘project management’ role to build components needed for DUV machines and avoid export controls

Prosecutors in Belgium cite ‘indications’ suspect took role at tech company in China months after joining now-defunct semiconductor maker Belgan

For a host of reasons, China shock 2.0 looks nothing like its predecessor in the 2000s

Ottawa has no alternative but to keep the door open to negotiating the best possible access to the US market

New administrator cites impact from water shortages at a time when Iran war has strained trade flows