Detonated

Hello from the FT newsroom. Lebanese militant group Hizbollah has suffered a humiliating and unprecedented attack this week.

On Tuesday, thousands of the low-tech pagers carried by Hizbollah members detonated in a co-ordinated attack, killing 12 people, injuring thousands and destroying a key communication channel. Then yesterday, a second hit compounded the shock, as handheld walkie-talkies exploded up and down the country, killing a further 20 people. Hizbollah has blamed Israel for the attacks, and though the latter has not commented directly, its defence minister declared on Wednesday it was “at the start of a new phase in the war”.

We stepped back to look at the attacks as part of a long history of killer communications devices.

My choices this week

1. The Federal Reserve’s easing cycle has begun. Policymakers cut the benchmark interest rate by a bumper 50 basis points yesterday. Here’s what the move signals for the US economy.
2. Asda’s woes have deepened even further this week. While the chain grapples with high debt and shrinking sales, billionaire co-owner Mohsin Issa announced he is stepping down from running the UK’s third-largest supermarket.
3. Two years ago, things looked bad for Netflix; the streaming wars were at a fever pitch, the platform’s subscriber base was tumbling and its share price soon followed. Now, it dominates Hollywood. How did Netflix regain its swagger? (Free to read)
4. While a star-studded crowd admired the latest collections at New York Fashion Week last week, something even more significant for the industry was going on just down the road. In a Manhattan courthouse, lawyers were hashing out a multibillion-dollar legal battle that could change the shape of fashion.
5. Beneath all the talk of cats and dogs in Springfield, Ohio, a momentous twist is taking place in American politics. The FT’s US national editor Edward Luce spells out Donald Trump’s calculated bet. (Free to read)
6. There’s a certain panic that can set in when shopping for the right restaurant to hold an important work meeting; your choice can make or break a deal. Not to worry — FT foreign correspondents have compiled their favourite spots for business dining around the world.

Thanks for reading,

Patrick Jenkins, deputy editor

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