Israel expects war against Iran to last weeks and Ayatollah Khamenei’s son emerges as a leading candidate for supreme leader. Plus, the Federal Reserve grants crypto exchange Kraken access to its core payments system, inside the collapse of UK property lender Market Financial Solutions, and US Treasury secretary Scott Bessent says the new 15% tariff rate could start this week.

Mentioned in this podcast:

Ali Khamenei’s son Mojtaba emerges as a leading candidate for supreme leader of Iran

Gulf insurance costs soar 12-fold despite Trump guarantee

Federal Reserve grants Kraken access to payments system in first for crypto group

Collapse of UK property lender sends shockwaves through Wall Street

Scott Bessent says 15% global tariff ‘likely’ to be imposed this week

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Today’s FT News Briefing was hosted and edited by Marc Filippino, and produced by Fiona Symon, Victoria Craig, and Henry Larson. Our show was mixed by Kelly Garry. Additional help from David da Silva. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.

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Khamenei’s son is frontrunner to be Iran’s supreme leader

FT News Briefing

Khamenei’s son is frontrunner to be Iran’s supreme leader