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Iran war hits pistachio supplies amid Dubai chocolate boom
Prices for the nuts have surged after disruption to export routes from Iran, a major producer of the nut
Defence stocks give back gains as investors buy rumour but sell war
Production bottlenecks and uncertainty over US munitions funding weigh on stock prices for weapons makers
Sidestepping
Kevin Warsh was not ready to disagree with Donald Trump in front of the Senate banking committee
The limits on Bessent’s Treasury swap lines
The US provided Argentina with a $20bn swap line, but similar offerings to Gulf and Asian allies would face constraints
Trump tracker: the latest data on US tariffs, trade and economy
Follow the latest impact of tariffs amid the president’s ongoing trade war
The golden age of arbitrage has begun
The law of one price is in retreat — with major consequences for profits, inflation and innovation
