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Accessibility helpSign InSubscribeFinancial TimesSubscribeSign InHomeWorldWorld HomeMiddle East warGlobal EconomyUKUSChinaAfricaAsia PacificEmerging MarketsEuropeWar in UkraineAmericasMiddle East & North AfricaIran warns it will hit US bases across region hours after president’s apologyIn the centre of the storm: what does the Iran war mean for Dubai?We’ll always have DubaiThe war of unintended consequencesTrump’s war on Iran is spreading. Where does it stop?USUS HomeUS EconomyUS CompaniesUS Politics & PolicyIran warns it will hit US bases across region hours after president’s apologyThe war of unintended consequencesTrump’s war on Iran is spreading. Where does it stop?Donald Trump calls for more US military action in Latin AmericaAmerica chose this war — and must now choose how to end itCompaniesCompanies HomeEnergyFinancialsHealthIndustrialsMediaProfessional ServicesRetail & ConsumerTech SectorTelecomsTransportIn the centre of the storm: what does the Iran war mean for Dubai?Is the nightmare scenario for global energy here?US faced with few good options to tamp down surging oil pricesPalmer Luckey’s $1bn pitch to reboot 1990s video game consolesThe last of Hong Kong’s colonial-era trainee schemesTechTech HomeArtificial intelligenceSemiconductorsCyber SecuritySocial MediaPalmer Luckey’s $1bn pitch to reboot 1990s video game consolesUS draws up strict new AI guidelines amid Anthropic clashGoogle gives CEO Sundar Pichai new pay deal worth up to $692mnOracle and OpenAI scrap deal to expand flagship Texas data centreSamsung seeks AI deals to challenge Apple’s smartphone leadMarketsMarkets HomeAlphavilleMarkets DataCryptoCapital MarketsCommoditiesCurrenciesEquitiesMonetary Policy RadarWealth ManagementMoral MoneyETF HubFund ManagementTradingIs the nightmare scenario for global energy here?US faced with few good options to tamp down surging oil pricesBritain is now the home of the Middle ManInvestors are not ready for a true shockA week of war in charts: the impact on the USClimateOpinionOpinion HomeColumnistsThe FT ViewThe Big ReadLexObituariesLettersWe’ll always have DubaiThe war of unintended consequencesIs the nightmare scenario for global energy here?America chose this war — and must now choose how to end itAre attention spans really shrinking?LexWork & CareersWork & Careers HomeBusiness School RankingsBusiness EducationEurope's Start-Up HubsEntrepreneurshipRecruitmentBusiness BooksBusiness TravelWorking ItGoogle gives CEO Sundar Pichai new pay deal worth up to $692mnPapier founder: ‘I don’t own stocks or shares — it’s too much risk’Are you financially ‘prepped’ for higher inflation?Why it’s time to end the grim march of the touchscreenCouples navigate their new money dynamicsLife & ArtsLife & Arts HomeArtsBooksFood & DrinkFT MagazineHouse & HomeStylePuzzlesTravelFT GlobetrotterWe’ll always have DubaiTrump’s war on Iran is spreading. Where does it stop?Palmer Luckey’s $1bn pitch to reboot 1990s video game consolesHereditary peer Lord Mancroft: ‘They don’t care about fox hunting. It’s about us’Are attention spans really shrinking?How To Spend ItHomeWorldUSCompaniesTechMarketsClimateOpinionLexWork & CareersLife & ArtsHow To Spend ItFinancial TimesSubscribeSign InAerospace & DefenceEurope’s defence tech start-ups hunt for more capitalIndustry executives say key aim is to secure European funding as well as contracts with governmentsEurope’s Leading Start-up Hubs 2026How Munich became an engine for defence start-upsBavaria’s roots in arms manufacture date back to the 19th centuryDassault Aviation SADassault warns Franco-German jet project is ‘dead’ if Airbus refuses to co-operateChief executive Éric Trappier blames German arm of Airbus for blocking progress of €100bn FCASMiddle East warUK to deploy a warship and counter-drone helicopters to CyprusFrance announces it is also sending air and naval assets to the Mediterranean and Middle EastFrench politicsMacron’s remarkable nuclear proposal faces a culture clashThe longstanding independence of France’s ‘force de frappe’ may stand in the way of successful co-ordination with alliesSylvie KauffmannWorldGermany’s military boost undermined by mould and broken liftsArmed forces infrastructure remains dire despite spending surgeFrench politicsThe FT View. France’s groundbreaking nuclear offer to EuropeMacron’s decision to extend the deterrent is a boost for the continent’s defenceThe editorial boardFrench politicsFrance offers to deploy nuclear deterrent across Europe for first timePresident Emmanuel Macron lays out doctrine of ‘forward deterrence’SwitzerlandSwiss defence ambitions run into ‘political blockade’Push for more assertive role in European security clashes with Switzerland’s ‘debt brake’ and neutrality politicsUK’s Leading Management ConsultantsDrone swarms and deal fever: consultants cash in on Europe’s defence pivotEstablished contractors have struggled to innovate and expand quickly to meet demand since Ukraine warIrelandNeutral Ireland seeks closer ties with Nato over maritime securityNew Dublin strategy against backdrop of heightened Russia concerns could involve request for UK and French naval assistanceDronesGerman MPs cut contracts for kamikaze drones backed by Peter Thiel and Daniel EkMembers of parliament cut overall spending by more than half and imposed €1bn cap per producerGerman politicsEx-Airbus chief says German decision to work with France on fighter jet a ‘mistake’Tom Enders warns that any future national project risks becoming a ‘gigantic misallocation of resources’ for BerlinUK defence spendingUK military spending set to account for smaller share of GDP in 2027-28Changes are in stark contrast with rearmament push by European allies in face of growing geopolitical tensionsGerman economyMerz steps up scrutiny of arms procurement amid spending angstGerman chancellor enters debate over funding conventional weapons made by Rheinmetall vs defence start-upsPoliticsEurope re-arms as US slows defence spendingWashington remains world’s largest military power but European capitals spend more than before, says IISSEurope ExpressHungary veto of €90bn loan casts shadow over von der Leyen’s Kyiv visitAlso in this newsletter: Brussels launches new initiative to fight foreign interferenceAerospace & DefenceInvestors back European start-ups building low-cost air defenceDrone warfare in Ukraine has exposed the limits of legacy equipment that was designed for different threatsCyber SecurityEurope’s ‘tech sovereignty’ ambitions carry security risks, military warnsEuropean top brass sceptical about politicians’ push to decouple from US tech companiesPalantir Technologies IncPalantir sues magazine that revealed Switzerland rejected its approachesPeter Thiel-chaired data intelligence group alleges that Republik did not give it sufficient right to replyGerman politicsOnly an army — and true integration — will solve Europe’s defence problemAtlanticists fear this would hasten America’s departure from the continent, but what is the alternative?Adam ToozeEU energyEurope should treat energy security as defence policyWe must move beyond thinking solely in terms of efficiency and decarbonisation to prioritise resilienceRichard ShirreffGerman politicsMerz says fighter jet project fails to meet Germany’s needsChancellor’s comments contradict Emmanuel Macron and hint at probable unravelling of the Future Combat Air SystemEuropean companiesGerman drone maker Stark faces political backlash over Peter Thiel linksDefence minister calls for clarification of US tech billionaire’s role in start-up set to win Bundeswehr contractWorldThe FT View. Europe’s path to security without the USThe heads of Nato and EU Commission offer competing visions. 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