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In a column that reflects on the extraordinary events at the G7 summit and at the peace talks between the US and North Korea, Philip Stephens argues this week that Donald Trump himself poses the greatest current risk to global security.

Whatever the eventual outcome of the nuclear talks, Philip contends that even the hermit kingdom was never the same order of threat as a US president who seems determined to dismantle all of his nation’s alliances.

AT&T ruling is a partial rebuke to Trump
Gillian Tett argues that business leaders cowered before the US president 18 months ago, but the legal judgment to allow a purchase of Time Warner shows his threats are not always to be feared.

Playing chicken at the Irish border
Martin Wolf argues that if both the UK and the EU swerve in time, a compromise deal over the post-Brexit border between NI and the Republic could be done and a crash averted.

The ECB’s mandate
Reza Moghadam explores how far the discussions about who will succeed Mario Draghi are really addressing another question — will the central bank continue to react pragmatically to systemic threats and contagion or revert to its previous narrow role?

Nightmare on the UK high street
British shoppers are abandoning bricks and mortar stores with dire results for a chain of retail brands including M&S and House of Fraser. In a column, I wonder whether we have fallen out of love with shopping, or just with spending as a communal activity.

What you’ve been saying

Trump’s abuse of Trudeau shocked many Americans— Letter from Willem Thorbecke:

John Authers (Smart Money, June 13) notes that investors ignored President Donald Trump’s abusive treatment of Canada’s prime minister, Justin Trudeau. Canadians have fought and died alongside Americans time and again. Bullying his friends may be acceptable to Mr Trump as long as the stock market is up. Many Americans, however, are appalled and Congress would never approve a trade war against its northern neighbour.

Comment by Kowalski on We survived GDPR, now another EU privacy law looms:

People are too blasé about the subject of data protection. As an entrepreneur in the tech scene, I think that not enough consideration is given to the subject by founders and developers. Hence more stringent regulation is needed.

If Turkey can get an EU deal, so can the UK— Letter from Bate Toms:

There are those who say we cannot achieve a bespoke customs deal of this kind. We can. Turkey has a customs union arrangement with the EU that varies sector by sector and does not allow free movement of people. If Turkey can get a deal like that, so can we. We should consider our critical interests in manufacturing and agriculture on a case-by-case basis. A dogmatic approach will serve no one’s interests.

Today’s opinion

Playing chicken over the post-Brexit Irish border
Britain and the EU may swerve towards a mutually beneficial, but politically hard, deal

AT&T ruling reinforces judicial independence
The Time Warner decision could signal the end of the dance between business and Trump

FT View: Canada stands firm against US pressure
Trudeau has domestic cross-party support for his tactics of defiance

FT View: The welcome distraction of the World Cup
Pure drama overcomes so-so matches and the shadow of corruption

FT Alphaville: Blockchain insiders tell us why we don’t need blockchain, redux

China’s Belt and Road plans dismay Pakistan’s poorest province
Protests reveal anxieties about the true terms of massive infrastructure project

Free Lunch: Euro countries’ fate is still in their own hands
With or without reform, governments retain room for manoeuvre

The ECB’s narrow mandate is no longer fit for purpose
With more room for manoeuvre, the central bank could have acted earlier in the crisis

Opinion today: Fake meat’s identity crisis
Good meat is delicious and substitutes still struggle to match the original

The Big Read: The Franco-German deal that could derail Europe’s competition police
The proposed merger of Siemens and Alstom’s rail businesses is designed to fight off competition from China

Donald Trump’s retreat is the greatest threat to global security The president intends to dismantle an alliance system that has endured for 70 years

Shoppers who have kept UK retailers alive are a spent force
At its best shopping offers collective joy, but our acquisitive fervour is fading

FT Magazine: The weirdest things about my British office
‘Some quirks are so ingrained that the natives aren’t even aware they might need explaining’

Journeymen footballers shoot for World Cup immortality
Opening match between Russia and Saudi Arabia gives ordinary players chance to shine

FT View: Gig workers need better employment protections
UK Supreme Court ruling highlights the need for greater reforms

FT View: The Time Warner/AT&T ruling is not the last word
The judge was right to approve the deal, but harder cases will arise

FT View

FT View: Canada stands firm against US pressure
Trudeau has domestic cross-party support for his tactics of defiance

FT View: The welcome distraction of the World Cup
Pure drama overcomes so-so matches and the shadow of corruption

The Big Read

The Big Read: The Franco-German deal that could derail Europe’s competition police
The proposed merger of Siemens and Alstom’s rail businesses is designed to fight off competition from China

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