Trump has opened a Pandora’s box

The US president hopes that his display of power in Iran will stop the war — but that is not his decision to make
Spac revival puts spring in step of investors in New York

Blank cheque companies are enjoying a fresh moment in the sun as the traditional IPO market struggles
Trump gambles his presidency as US enters war with Iran

US president joins Israel’s attacks on Tehran months after vowing to keep America out of new conflicts
UK promise of £1bn boost to job support for disabled not yet funded

Ministers argue unpopular cuts to welfare payments are part of mission to get people into work and off benefits
Canadian export agency hit by £350mn loss on loans to Thames Water

Agency said the losses, more than half of what it lent, were ‘part of the reality of doing business’
Chinese factories rush to reduce reliance on Donald Trump’s US

Companies in major exporting province of Zhejiang look to other markets or to sell at home