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Defence budget to rise to 2.5% of GDP by end of decade
Russian defence minister reacts to US passage of military aid as Kyiv’s forces struggle to hold frontline positions
Also in today’s newsletter, a dispatch from the key swing state of Pennsylvania
About two-thirds of US companies are incorporated in the small, mid-Atlantic state
The annual Salone del Mobile is a vast display of slick superfluousness but at its heart is a deep regard for tradition and craftsmanship
Pioneer of music streaming kicks off more mature era for its business after years of freer spending
Record profits at lender will bolster state coffers to help fund war on Ukraine
Market share of 44% in fast-growing part of industry far exceeds Pimco’s 15% and Fidelity’s 11%
Seamus Heaney’s touching acts of kindness, Jane Austen’s hangovers — an author’s correspondence reveals things that literature cannot
Pound rises against dollar as chief economist Huw Pill sets a different tone from deputy governor
Reading of 54 well above 52.6 predicted by economists, and fastest expansion since May
The search for the neutral rate is proving elusive
New owner of UK dealerships will close second hand marketplace following pandemic-era slump in supply
Data expected to reassure ECB officials that eurozone still on track for ‘soft landing’
More than 100,000 evacuated in Chinese floods, schools close in India and Bangladesh, warnings in Thailand and Philippines
The rush to exploit a power surplus in the country’s north has raised questions over infrastructure and energy use
Chabaidao’s experience reflects weak local investor sentiment
Accident off French coast comes after Rishi Sunak’s Rwanda plans gain parliamentary approval
AmCham China highlights concerns about lack of regulatory clarity as Beijing seeks to shore up confidence
Energy watchdog’s forecast runs counter to sentiment among many carmakers struggling to sell battery-run vehicles
Employee of far-right AfD’s lead candidate is latest figure to be accused of passing information to Beijing
Claer Barrett talks to Katie Martin
Residents who fled when Hamas attacked the town last October are returning, yet others vow never to come home
Also in today’s newsletter, Ukraine aid and the opening of Trump’s trial
A charity auction by luxury reseller ReSee will include pieces from Kim Kardashian, Cindy Sherman, Oprah Winfrey – and the doyenne of French cinema
International Edition