Boris Jonson’s tax cut proposals could cost as much as £20bn a year, according to a new report; Instagram’s Adam Mosseri tells the FT that “window-shopping” will become a core part of the photo-sharing app’s future; and US President Donald Trump signs an executive order to hit Iran with new sanctions. Plus, the FT’s Turkey correspondent, Laura Pitel, explains what’s next for Turkey and President Recep Tayyip Erdogan following the opposition’s triumph in Istanbul’s repeat mayoral election.

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