Escalation

Hello from the FT newsroom. Conflict in the Middle East has escalated further this week, raising fears of a wider conflict in the region. A suspected Israeli air strike on the Iranian consulate in Damascus killed seven Revolutionary Guard officers, including two ranking commanders. Iran and Hizbollah vowed to retaliate but it’s unclear in what form.

At the same time, in Gaza, seven aid workers were killed by an Israeli strike on Monday. In a sign of Washington’s increasing frustration with Israel’s Prime Minister Benjamin Netanyahu, Joe Biden gave a critical statement on Tuesday, saying that Israel “has not done enough” to protect aid workers delivering help to Gazan civilians. Biden has been toughening his rhetoric but the US has not taken any steps to halt arms shipments to Israel.

My choices this week

1. Europe’s economies have experienced two sharp shocks in the past five years: the pandemic, swiftly followed by a war in Ukraine. Now, southern European economies are bouncing back more enthusiastically than their northern counterparts. Are we seeing a new two-speed eurozone?
2. Donald Trump is ahead in most US election polls — but looking inside his treasure chest, he is at a major financial disadvantage to his rival Joe Biden. And money matters in US elections. In his dash for cash, Trump must now turn to more traditional Republican donors.
3. The appeal of tyranny is growing. Are decaying political and civil rights a price worth paying for faster economic development? In his column this week, Martin Wolf makes the enduring case for democracy. (Free to read)
4. Rishi Sunak has a very steep hill to climb to avoid a thumping defeat in a nearing UK election. In fact, FT polling analysis shows that there is almost no route for Conservatives to stay in power. We inspect the options for Sunak as he tries to stage the biggest electoral comeback for decades.
5. Caught in a scandal born from?Rolex watches and luxury bracelets, Peruvian President Dina Boluarte is facing a crisis of legitimacy. As she reshuffles her cabinet in an attempt to reset public opinion, Peru is once again gripped by political turmoil. (Free to read)
6. Snake meat is being touted as the latest superfood, with a new study showing the creatures’ extraordinary ability to evolve to new environments. Science commentator Anjana Ahuja considers the explosive evolution of snakes, and the case for serpents in our diet.?

Thanks for reading,

Roula

PS Now is your chance to get 40 per cent off an annual subscription to the Financial Times. This includes access to our site and some of our best newsletters including Working It and The Climate Graphic: Explained.

Recommended newsletters for you

Sort Your Financial Life Out Learn how to make smarter money decisions and supercharge your personal finances with Claer Barrett. Sign up

World News Get a global overview of the business stories you need to know. Sign up