International - Financial Times - Credit Squeeze

Airline and package holiday group posts 11% rise in annual pre-tax earnings to record £578mn

Central bank officials warn some heavily indebted firms are ‘particularly exposed to global shocks’

With huge economic and political shifts taking place, what will replace the old world order?

Also in today’s newsletter, Apple in talks with F1 over broadcast rights and Supreme Court paves way for mass federal job cuts

President also says he will impose levies of up to 200% on drug imports after a transition period

Also in this newsletter: EU delegation ordered to leave Libya

Brussels is not expecting same access to US market as British steel, cars and other products

Doubts about the dollar bring a new set of problems for Europe

US move prompted by concerns that purchases are undermining national security

Beijing’s deflation fears deepen as intense competition weighs on producers

US president threatens Cambodia, Indonesia, Laos, Malaysia and Thailand with duties ranging from 25%-40%

Sabih Khan will oversee iPhone maker’s supply chain at a time of huge trade uncertainty

Trump floats 200% tariff on medicines, while threat of 50% levy on copper imports sent price of metal to record high

Britain’s ability to respond to future shocks is ‘substantially eroded’ because of high debt, says fiscal watchdog

Goldman Sachs joins other banks in lifting end-of-year target for S&P 500 index

Also in today’s newsletter, White House pushes back on allegations that workforce cuts hampered Texas flood alert

Being ‘one of us’ matters amid US presidential challenge

PM Shigeru Ishiba’s insistence on total relief from Donald Trump’s levies was a miscalculation, analysts say

Also in today’s newsletter, Trump revives threat of ‘reciprocal’ tariffs and battle for young bankers

White House extends deadline for ‘reciprocal’ levies from July 9 to August 1