Global investors need to go on Japan watch right now

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is a senior economist at JPMorgan Over the past few weeks, Japan’s government bond yields have surged to highs last seen in the 1990s — raising eyebrows both in Tokyo and elsewhere in the world. Ostensibly, this latest jump was a reaction to the mulling of a temporary consumption tax holiday on food. Given the relentless rise in the cost of staples — rice prices have doubled —…

‘Value for money’: AI agent OpenClaw adopts Chinese models for cost edge over US rivals

OpenClaw, which has been a runaway success since its late 2025 launch, announced on Friday that it was offering Chinese start-up Moonshot AI’s latest Kimi K2.5 and Kimi Coding agent for free in its service, while adding support for MiniMax, another Chinese foundational AI developer. Analysts said Chinese open-source models were being picked up mostly for their “value for money” compared with other models, according to Luo Liang, a Beijing-based AI analyst at consultancy Intelligent Parameters. Advertisement Luo said many users had reported letting the autonomous agent run on its…

FirstFT: Trump to lower India tariffs after Modi ‘agrees’ to stop buying Russian oil

Good morning and welcome back to FirstFT Asia. In today’s newsletter: Trump and Modi cut a deal Inside Indonesia’s market meltdown Wall Street and crypto companies battle over the future of money Donald Trump said the US would lower its tariffs on India to 18 per cent after Prime Minister Narendra Modi “agreed” to halt purchases of Russian oil, ending months of trade friction between the countries.  What happened: The president said he spoke with Modi yesterday and had discussed “many things”, including trade, ending the war in Ukraine and…

China’s expat pilots arrived on a red carpet – now, they’re taking a red-eye out

When the first cohort of elite foreign captains parachuted into Chinese airlines in the 2000s, their sky-high pay – sometimes reaching 1 million yuan a year – raised eyebrows among their Chinese counterparts. These hotshot aviators, with their international exposure and qualifications, enjoyed a stratospheric level of success in the burgeoning Chinese market. Facing a shortage of experienced pilots, Chinese carriers embraced them with open arms, granting generous benefits and speedy paths to promotion and making few demands in return. “Other than the warm reminder of no smoking or drinking…

Why China and Europe should care about Central Asia’s water crisis

Central Asia’s water insecurity may seem a distant concern. But its rivers underpin Eurasian trade corridors, sustain global food markets and power regional energy systems. As water stress worsens, this is no longer just an environmental issue but a strategic threat across Eurasia – demanding urgent attention in Beijing, Brussels and beyond. Central Asia is warming twice as fast as the global average, accelerating glacier retreat in mountain ranges that act as natural reservoirs. As a result, flows in the major transnational rivers are becoming more volatile while droughts grow…

UK’s Starmer under fire from MPs over China trip amid claims he was ‘tricked’ by Beijing

British Prime Minister Keir Starmer has faced backlash over his trip to China amid claims that the UK government has been “tricked” by Beijing. Conservative former security minister Tom Tugendhat raised the issue of Chinese sanctions on British parliamentarians after Starmer announced that “all restrictions” had been lifted on current members. Tugendhat, former Conservative leader Iain Duncan Smith, Senior Deputy Speaker Nusrat Ghani and Conservative former minister Neil O’Brien were among those banned from entering China, Hong Kong and Macau in 2021. Advertisement Their property in China was also frozen…

China tightens grip on Brazil minerals as Chalco, Rio Tinto buy control of CBA for US$886m

China’s state-owned aluminium giant Chalco and Anglo-Australian miner Rio Tinto have agreed to buy a controlling stake in Brazil’s Companhia Brasileira de Aluminio (CBA) in a deal valued at US$886 million, marking one of the most significant foreign acquisitions in Brazil’s metals sector in recent years and reinforcing China’s growing footprint in the country’s strategic mineral assets. The transaction covers Brazilian conglomerate Grupo Votorantim’s 68.6 per cent stake in CBA and will be executed through a joint venture incorporated in Brazil, in which Chalco will hold 67 per cent and…

Mandelson’s conduct with Epstein ‘far below standard expected’, says minister as Brown calls for inquiry into ‘shocking’ leak – UK politics live

From 2h ago Mandelson’s conduct with Epstein ‘unequivocally wrong’ and ‘far below standard expected of any minister’, Jones says Jones says Jeffrey Epstein was “a despicable criminal who committed disgusting crimes and destroyed the lives of countless women and girls”. He goes on: On Friday, the Department of Justice in the United States released around 3 million pages from the case files relating to Jeffrey Epstein. It is increasingly clear that his awful crimes involved and were facilitated by many, often powerful people, both by actively participating in the crimes…

Trump to slash India tariffs after Modi ‘agrees’ to stop buying Russian oil

Donald Trump said the US would lower its tariffs on India to 18 per cent after Prime Minister Narendra Modi “agreed” to halt purchases of Russian oil, ending months of trade friction between the countries.  The president said he spoke with Modi on Monday and had discussed “many things”, including trade, ending the war in Ukraine and the possibility of India buying more oil from the US and even Venezuela. “Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a…

Trump says US to cut India tariffs after Modi agrees halt to Russian oil imports

Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Donald Trump said the US would lower its tariffs on India after Prime Minister Narendra Modi agreed to halt purchases of Russian oil. The US president said he spoke with Modi on Monday and had discussed “many things”, including trade and ending the war in Ukraine. “Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a Trade Deal…