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Iranian president Hassan Rouhani accused the Trump administration of being “confused” and “liars” after Washington imposed recent sanctions in opposition to the Islamic republic’s supreme chief Ayatollah Ali Khamenei and Mohammad Javad Zarif, the overseas minister.

“Any authorities, which has an iota of knowledge and prudence will . . . lose its thoughts and act stupidly and outrageously . . . to impose sanctions in opposition to essentially the most senior authority of a rustic,” Mr Rouhani stated on Tuesday on state tv. A overseas ministry spokesman stated the brand new sanctions meant “everlasting closure” of the diplomatic course of between the 2 nations.

Mr Trump imposed the “hard-hitting” new measures on Monday, simply days after aborting navy strikes in opposition to the Islamic republic after Iranian forces shot down an unmanned American spy drone.

The most recent sanctions are designed to forestall Mr Khamenei and his officers from utilizing the worldwide banking system or any monetary autos arrange by European nations or different nations however are unlikely to have a lot financial affect. The measures, nonetheless, are considered as extremely provocative in Iran and can gas suspicions that Washington is pushing for regime change within the Islamic republic. (FT, AP)

Within the information

Massive pharma deal
AbbVie is nearing a deal to purchase Dublin-based Allergan for greater than $60bn, in line with folks acquainted with the matter, as the 2 large drugmakers guess a mix will ship new sources of progress they’ve struggled to seek out on their very own. (WSJ)

Billionaires again wealth tax
A bunch of US billionaires, together with hedge fund supervisor George Soros and Fb co-founder Chris Hughes, has come out in favour of a tax on the super-wealthy. Eighteen of the richest Individuals revealed an open letter on Monday calling for a “average” tax on property of the wealthiest zero.1 per cent within the US. “America has an ethical, moral and financial duty to tax our wealth extra,” they stated. (FT)

US-China commerce talks resume
China’s vice-premier Liu He held a cellphone name with Steven Mnuchin, US Treasury secretary, and Robert Lighthizer, US commerce consultant, as commerce talks resume forward of an anticipated assembly between US President Donald Trump and Chinese language President Xi Jinping on the sidelines of the G20 assembly later this week. In the meantime, the World Commerce Group warned new commerce obstacles threaten to crimp the worldwide economic system, in a report revealed on Monday. (FT)

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Instagram chief eyes ‘window-shopping’
The Fb-owned photograph app is planning to ramp up its presence in retail and permit its 1bn customers to purchase items straight on its platform. In his first interview since taking up in October, the 36-year-old head of Instagram Adam Mosseri stated he deliberate to introduce new features like “native checkout”, the place customers can purchase items with out leaving the app, and “purchasing baggage”, the place they’ll maintain gadgets in a cart. Learn the complete interview right here. (FT)

G20 performs down local weather change
Japan has watered down commitments to local weather change in its draft G20 communiqué, omitting the phrase “world warming” in an indication of how Tokyo is bowing to Washington. This comes as Mr Trump not too long ago contemplated withdrawing from the US-Japan mutual defence treaty. In the meantime, China’s vice-premier Liu He held a cellphone name with prime US commerce representatives, because the WTO warned that G20 nations have been obstructing the worldwide economic system. (FT, Bloomberg)

Boris bandwagon wobbles
Boris Johnson has once more refused to debate the heated row on the south London flat of his accomplice Carrie Symonds on the weekend, which led to the police being referred to as. In his first media interview because the incident, the frontrunner to succeed Theresa Might as Britain’s subsequent prime minister additionally stated parliament could be able to vote for a no-deal Brexit ought to the EU and UK fail to agree a deal by the October 31 deadline. In the meantime, Max Hastings, considered one of Mr Johnson’s former editors, stated the previous overseas secretary was “totally unfit to be prime minister”. (FT, BBC, Guardian) 

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The day forward

Fed chair to talk in New York
Jay Powell, chairman of the Federal Reserve is because of communicate in New York on Tuesday, a day after President Donald Trump complained that the US central financial institution “doesn’t know what it’s doing”. Mr Trump has been a strident critic of the Fed’s financial coverage and has repeatedly referred to as for the financial institution to decrease rates of interest. In an interview, revealed yesterday, Mr Trump stated he had the facility to fireplace the chairman of the Federal Reserve however has no intention to take action. (FT, The Hill)

Sustain with the vital enterprise, financial and political tales within the coming days with the FT’s Week Forward. Click on to subscribe right here. And don’t miss our FT Information Briefing podcast — a brief day by day rundown of the highest world tales.

What else we’re studying

How China fell out of affection with NY
Beijing’s capital controls crackdown has led to a dramatic exodus from Manhattan’s property market, the place Chinese language consumers not too long ago paid record-breaking sums for trophy buildings. “It’s like a tsunami that got here speeding in after which the waters went again out to the ocean”. Robert Armstrong says New York, as soon as town of dreamers, is now dangerously uninteresting. (FT)

Prescription gaming
Video video games are sometimes dismissed as vices, however scientific trials discovered Akili’s new providing helps sufferers with consideration deficit hyperactivity dysfunction. The following time you are taking your medication, Hannah Kuchler finds, chances are you’ll be selecting up an iPad. (FT)

Dwelling with dementia
Whereas a remedy for dementia appears painfully distant, policymakers and medical professionals are already pondering put together for a breakthrough — if it arrives. Researchers are additionally analyzing why girls appear extra vulnerable to Alzheimer’s. Learn extra within the FT’s new Particular Report: Dementia Care, and watch this video about how an early dementia prognosis helped a nurse to look after different victims. (FT)

The satan wears sustainable nylon
Lorenzo Bertelli, the previous racing driver and inheritor to the Prada fortune, tells the FT that he doesn’t discover incongruity between the high-speed worlds of motorsport and luxurious vogue in his first sit-down interview since taking up from his billionaire mother and father. (FT)

Brazil desires to forge ties with rightwing governments
For the reason that election final 12 months of rightwing president Jair Bolsonaro, Christianity and western values have emerged as dominant forces shaping the home and overseas coverage of Brazil, Latin America’s largest nation. “Christian values needs to be again on the core of how we see the world,” Ernesto Araújo, Brazil’s overseas minister, tells the FT. In the meantime, businessmen, diplomats and economists say firms are holding off investing in Brazil due to a insecurity within the nation’s future financial prospects and the potential return of a recession (FT)

Macron’s campaign
Emmanuel Macron is France’s most transformative president since François Mitterrand and Europe’s most forceful defender of progressivism. However the upheaval of the gilets jaunes at residence and the success of rightwing events throughout the continent threaten his ambitions. (New Yorker)

Being transgender at Goldman Sachs
Maeve DuVally began work on the Wall Road financial institution as Michael DuVally, an worker within the buttoned-up communications division. In case you missed it, that is the story of how one employee within the historically conservative monetary companies trade went by way of a sexual transformation and selected to share it with colleagues. (NYT)

Video of the day

Erdogan loses political gamble After the opposition gained a convincing victory in a rerun of Istanbul’s mayoral election, Turkey’s President Recep Tayyip Erdogan faces a resurgent political problem and a struggling economic system. (FT)

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