07-12-2025 23:02 via ft.com

FirstFT: Japan frustrated at Trump administration’s silence over dispute with China

Also in today’s newsletter: Hong Kong’s low turnout election, and Chinese phonemakers attempt to win over iPhone users

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The meaning of China’s $1tn trade surplus

Bank of England rate-setters divided ahead of decision next week

Rise in US job openings offers hope of labour market stabilisation

Why the world should worry about stablecoins

Badenoch cites Brexit as ‘shock’ to UK

Investors should look to the data, rather than the Fed, for guidance

Trump decides to let Nvidia export powerful H200 chips to China

Central bankers, let Turkey be a warning

BoJ governor says economy has weathered Trump’s tariffs

FirstFT: Inside Paramount’s $108bn hostile bid for Warner Bros

Debate about the Fed’s balance sheet is heating up

The significance of the next Fed chair choice

Investors increase bets on ECB rate rise in threat to dollar

Investors bet Fed and ECB headed in opposite directions on rates