This article is an on-site version of our FirstFT newsletter. Subscribers can sign up to our Asia<\/a>, Europe\/Africa<\/a> or Americas<\/a> edition to get the newsletter delivered every weekday morning. Explore all of our newsletters here<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n Good morning and welcome to FirstFT Asia. In today\u2019s newsletter:<\/p>\n Iran\u2019s uranium stockpile<\/p>\n<\/li>\n Israel halts aid to north Gaza<\/p>\n<\/li>\n How the next financial crisis starts<\/p>\n<\/li>\n The problem with coffee apps<\/p>\n<\/li>\n<\/ul>\n We start in the Middle East with an exclusive story on the preliminary assessments about Iran\u2019s uranium stockpile.<\/p>\n What we know: <\/strong>Two officials told the Financial Times that early intelligence suggests Iran\u2019s 408kg of uranium was not concentrated in Fordow, one of its two main enrichment sites, at the time of last weekend\u2019s attack. It had been distributed to various other locations, the assessments found<\/a>.<\/p>\n Why it matters:<\/strong> The findings call into question US President Donald Trump\u2019s assertion that the bombing had \u201cobliterated\u201d Iran\u2019s nuclear programme. On Thursday, Iran\u2019s Supreme Leader Ayatollah Ali Khamenei also said that US strikes \u201cdid not achieve anything\u201d<\/a> and Donald Trump had \u201cexaggerated\u201d their impact.<\/p>\n How China views the conflict: <\/strong>US and Taiwanese officials said America\u2019s attack on Iran will force Chinese President Xi Jinping\u2019s advisers to reassess how Trump might act on issues Beijing sees as vital<\/a> to its national interest. \u201cThey thought Trump 2.0 was going to be more transactional,\u201d one expert said. \u201cIt is not turning out that way at all\u201d.<\/p>\n Here\u2019s what else I\u2019m keeping tabs on today and through the weekend:<\/p>\n Economic data:<\/strong> The US Federal Reserve publishes results from its annual bank stress test today.<\/p>\n<\/li>\n Annual general meetings:<\/strong> SoftBank, Nikon and Nintendo are among the companies set to hold annual meetings on Friday.<\/p>\n<\/li>\n EU:<\/strong> A two-day European summit concludes today in Brussels. Leaders are expected to discuss a potential trade deal with the US and their response to the Israel-Iran conflict. European Commission president Ursula von der Leyen is facing a no-confidence vote<\/a> linked to a Covid-19 pandemic scandal.<\/p>\n<\/li>\n Tesla: <\/strong>The electric-car maker\u2019s Robotaxi<\/a> is expected to take its first driverless test on Saturday from the company\u2019s factory in Austin, Texas. <\/p>\n<\/li>\n<\/ul>\n How well did you keep up with the news this week? <\/em>Take our quiz<\/em><\/a>.<\/em><\/p>\n 1. Israel has halted deliveries of aid to north Gaza despite the population\u2019s ongoing risk of famine. <\/strong>The suspension<\/a> follows Prime Minister Benjamin Netanyahu allegations that aid was being hijacked by Hamas \u2014 a claim rejected by community leaders in the Palestinian enclave.<\/p>\n 2. EU officials say Chancellor Friedrich Merz is \u201cdelusional\u201d for expecting German\u2019s auto industry to be spared from US tariffs.<\/strong> Merz pressed the European Commission to sign a \u201cframework\u201d deal similar to the US-UK agreement this month, but Brussels officials have privately warned it would not be possible because they believe cars are \u201cthe hardest element\u201d of any deal with the White House<\/a>.<\/p>\n 3. Exclusive: A decision to nominate the next Fed chair is not \u201cimminent,\u201d the White House said<\/strong>, despite a report that said Trump could nominate someone to replace Jay Powell as soon as this summer. Still, the White House told the Financial Times, \u201cthe President has a right to change his mind\u201d. Powell\u2019s term expires in May 2026, but Trump has become increasingly frustrated at the Fed\u2019s reluctance to cut interest rates<\/a>. <\/p>\n 4. Taiwan has developed suicide drones equivalent to ones used in Ukraine\u2019s defence against Russia. <\/strong>The weapons have the same operating and AI strike systems that target Russian tanks and oil rigs. The announcement marks one of the clearest signs of progress for Taiwan as the country builds up its autonomous weapons capabilities to resist a potential attack<\/a> from China. <\/p>\n 5. Tesla parted ways with one of its top executives <\/strong>as the company pivots to autonomous driving, artificial intelligence and robotics. Omead Afshar, who was promoted to run sales and operations in North America and Europe last year, left the role amid a decline in sales and earnings<\/a>, according to people familiar with the decision.<\/p>\n A US housing bubble fuelled partly by \u201csubprime\u201d home loans was considered one of the main culprits of the last financial crisis. Fears are growing that property markets could again be roiled, this time not by risky lending practices but by rising numbers of climate-related disasters<\/a> putting pressure on insurers and other critical financial institutions.<\/p>\n One of Hong Kong\u2019s biggest property developers is in talks to refinance billions of dollars in bank loans. New World\u2019s\u2009negotiations come after their ambitious debt-fuelled expansion<\/a>, which includes a HK$20bn retail and office space near Hong Kong\u2019s airport and several mainland Chinese developments. <\/p>\n Do queues in coffee shops feel longer nowadays? Increasingly, chains are turning to mobile ordering through a new wave of apps to ensure people can skip the line for their caffeine shot. But is it worth it? Claer Barrett examines the trade-offs to downloading coffee apps<\/a>.<\/p>\n\n
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Five more top stories<\/h3>\n
From the FT Magazine<\/h3>\n
We\u2019re also reading\u2009.\u2009.\u2009.\u2009<\/h3>\n
Chart of the day\u2009<\/h3>\n
![\"Line](\"https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/https%3A%2F%2Fd6c748xw2pzm8.cloudfront.net%2Fprod%2F820c4660-50c4-11f0-ad6d-35708d477657-standard.png?source=next-article&fit=scale-down&quality=highest&width=700&dpr=1\")
<\/picture><\/figure>\nTake a break from the news<\/h3>\n
![\"Illustration](\"https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fac22e3dd-fc09-4c1c-a640-a848430ff82f.jpg?source=next-article&fit=scale-down&quality=highest&width=700&dpr=1\")
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