FT in the news for new global stories—From Hungary’s regime-change chatter to UAE risks and UK price caps. News outlet with global business focus, based in London.
The Philippines has received a tanker carrying Russian crude oil, marking its first purchase in five years. This comes as the country faces a national energy emergency, with limited fuel supplies and increased reliance on Russian imports authorized by U.S. sanctions waivers. The move reflects shifting regional energy sourcing amid global disruptions.
U.S. special envoy Paolo Zampolli has told the Financial Times he has suggested Italy replace Iran at the 2026 World Cup; Italian sports minister Andrea Abodi and other officials have said reinstating Italy is not possible or appropriate. Iran and FIFA have said Iran is preparing to play its scheduled group matches in the United States in June.
Péter Magyar has been sworn in as Hungary’s prime minister after his Tisza party won a historic two‑thirds majority on April 12. His new 16‑ministry cabinet has been formed; he has pledged to recover allegedly misused state assets, restore democratic checks and rejoin EU mechanisms to unblock about €17bn in frozen funds.
Magyar has formed a new government and pledges to prosecute corruption, while Orbán-era allies are moving assets abroad and facing investigations. Officials promise to tighten controls as the transition unfolds and potential probes target high-level officials tied to the former regime.
With one year to go, France has a crowded presidential field and the far-right National Rally (RN) is polling strongly. Marine Le Pen has met foreign envoys and her party leader Jordan Bardella has held ambassadorial meetings as RN is presenting a more moderate public face; Jean‑Luc Mélenchon has confirmed his fourth presidential bid.
The UAE has emerged as a more direct participant in the Iran conflict, with reports that it carried out strikes against Iran, including an attack on the Lavan Island refinery. The ceasefire holds but regional tensions are rising as Gulf states respond to Iran's actions and to allied pressures from the US and Israel.
NextEra Energy has agreed to combine with Dominion Energy in an all-stock deal that values Dominion at about $67bn and would create the world’s largest regulated electric utility, serving roughly 10 million customer accounts across Florida and the Southeast. The transaction is expected to close in 12–18 months, subject to shareholder and regulatory approvals.
The government has signalled it is considering voluntary price caps on essential groceries and is offering incentives to supermarkets, including easing packaging rules and delaying healthy-food changes. The moves follow Labour-backed measures and CMA reforms, with ministers saying they want to keep costs down for families amid ongoing inflation and global supply pressures.
Russian defence spending remains a focal point as Moscow assesses a growing budget deficit amid extended conflict. Finance minister Siluanov has signalled possible cuts and redirection of resources, while state projections flag slower growth this year. Ukraine reports continued strikes on Russian energy infrastructure and cities.