Plus, Nvidia talks AI chips, Rachel Reeves makes a pitch for closer EU ties and Japan’s prime minister heads to Washington

UK officials say move would require ‘very big’ offer from Brussels as Rachel Reeves seeks deeper ties

War against Iran does not seem to have undergone the normal stress-testing

Hungary’s longtime leader is trailing in the polls ahead of April’s election, as the opposition alleges widespread corruption

Mexican government fears Trump will seek big changes to the agreement he struck with the countries in his first term

Conflict with Iran will leave deeper and more lasting scars than last year’s tariffs crisis

Reform UK plans high-energy and high-spending campaign in run-up to voting on May 7

Ministers’ push to help almost 1mn people not in education, employment or training needs to go further, say analysts

It may be easier for countries sitting on large deficits to tighten the screws on existing levies

The biggest US ETF linked to crude prices has seen record inflows as oil market has ‘meme’ moment

Attack on Iranian warship in coastal waters highlights country’s vulnerability to Middle East conflict

American producers stand to be among biggest beneficiaries if crude prices average $100 a barrel this year

US administration appears to have no plan to retrieve the enriched uranium after two weeks of military action

Outages mark new phase in government campaign against internet freedom

Deglobalisation is expensive for individual countries, but a windfall for their suppliers

The first Gulf war left a weakened regime in place without a political settlement — paving the way for future conflict

Many of its users may gather ideas on the platform but shop somewhere else

Times, taxes and ideas about parenting are changing

Fifteen years on from the Fukushima catastrophe in Japan, what can the work of diverse photographers reveal about the region and its residents?

New tax year, new Isa allowance . . .  but it comes at a time of global economic peril. FT writers offer advice on how to invest wisely

Foreign minister S Jaishankar tells FT diplomacy ‘is yielding results’ as Trump touts sending warships

Pay enough, and you can jump to the front of the queue for almost anything

Push by Ed Davey to win over ‘soft’ Tories comes as discontent grows inside party trailing in polls

Market Questions is the FT’s guide to the week ahead

Ukrainian president asks if countries ‘collectively decided’ to restart flows from Russia

Municipal elections will set the scene for next year’s presidential race as the far right looks to gain ground

Pyongyang’s operatives deploy chatbots to undertake tasks, often in multiple roles

Demand for the storage device is expected to double by 2030 as geopolitical risks pile up

Being deemed close to the boss lets you get away with murder — until it doesn’t

Local courier group iFood and China-backed Keeta trade claims of corporate espionage and underhand tactics

Drinks companies cut networks as rising costs and driver shortages undermine business model

US president’s request to deploy navy to the Strait of Hormuz comes as Japanese leader prepares to visit White House

Long-term inflation expectations are staying steady

Shadow housing minister raised questions over critical partner in housebuilding scheme

High-end restaurants as a force for moral good was an idea long lacking in self-awareness

The problem is not that the law is unfit for the 21st century but that it is being flouted

UK companies such as Lloyds, Shell and Rolls-Royce featured heavily in Isa portfolios whose value topped £1mn last year

This year offers something for everyone, but the looming Warner-Paramount deal threatens the whole Hollywood ecosystem

Amid the online slop of casual deceptions, everything now requires a second look

A generation of serious collectors are confronting an enviable problem: more bottles than time

Couple accused of using their positions at now-defunct Swiss bank MBaer to ‘further payments’ relating to corruption

Intervention will be targeted at people using heating oil as ministers commit to preventing wider summer price surge

This series covers Hungarian PM Viktor Orbán and his Russia-backed campaign for re-election amid fraud and corruption allegations

Sweating the UK’s natural gas assets can support the country’s green transition

Closed-door events set to challenge beliefs of American Pope Leo, who has warned about risks of artificial intelligence

US president no longer focused on pressuring Vladimir Putin, European officials say

US navy appears ill-prepared for potential use of relatively cheap and plentiful weapon in narrow Strait of Hormuz

Some of the outrage appears disingenuous but the actor is wrong in his dismissal of opera and ballet

Neste chief calls for a ‘level playing field’ following heavy investment

Private jets fly over dilapidated Maracaibo as executives seek deals and crude prices surge. A real recovery will not be easy

President’s plea for help comes after he told US jets to bomb Iran’s Kharg Island, deepening fears of protracted oil crisis

Yemeni militant group is noticeably absent from Iran’s war with the US and Israel

Also in today’s newsletter: the winners from Apollo’s takeover of Atlético Madrid

Growing number of fertiliser plants forced to shut, threatening rice and other harvests

Sometimes crises do not blow over as investors might hope

State media has used accounts of military triumph, pro-regime cartoons and threats in order to contain domestic dissent

It should not have taken the Iran war to finish the idea that he is ‘isolationist’

On Oscars weekend, the famous title’s new chief makes his case

Greater incentives for philanthropists and endowments would ‘ease burden on public purse’, argues Maria Balshaw

As markets reel from the war in the Middle East, some UK investors are seeking a path to safety