FirstFT: Queen Elizabeth II has died

Queen Elizabeth II, Britain’s longest-serving monarch, has died, leaving her people in mourning but reflecting on a life of duty in which she bound the country together through 70 years of momentous change.

Her death, at the age of 96, was announced by Buckingham Palace at 6.30pm BST on Thursday. It marked a watershed moment in the life of the nation, leaving it without its “matriarch”.

The Prince of Wales was at her bedside at Balmoral, her beloved castle in the Scottish Highlands, along with other members of the royal family. At the moment of her passing, her son became King Charles III.

The new King said his mother’s death was a moment of “the greatest sadness for me and all members of my family”. He said the family would be “comforted and sustained” by the respect and affection felt towards the Queen in Britain and across the Commonwealth.

Flags across the country flew at half mast, while at Westminster a band played “God Save the King”. As dusk fell, thousands of people amassed outside Buckingham Palace to pay tribute.

Global leaders have shared their condolences from around the world. Government representatives for Australia in the UK said citizens in both countries were “united in their grief”. India’s prime minister Narendra Modi said he was “pained” by the death of the Queen, saying she would be remembered as a “stalwart of our times”.

We remember the life of Queen Elizabeth II and her seven decades of service here.

Visit FT.com for the latest developments following the Queen’s passing.

Read more:

• The Queen was an enduring symbol of identity, a pivot around which her country changed perhaps even more profoundly than during the reign of her long-lived great-great-grandmother, Victoria, writes our editorial board.

• In a nation beset by economic troubles, scarred by the polarisation of its politics and uncertain of its place in the world, the Queen was a vital anchor, Philip Stephens writes.

What did Queen Elizabeth II mean to you? Share your thoughts with us at firstft@ft.com. Thank you for reading FirstFT Asia. — Emily

Five more stories in the news

1. Evergrande lender seizes headquarters Evergrande’s Hong Kong headquarters has been seized by a lender after the struggling Chinese property developer defaulted on a loan and twice failed to sell the building, according to four people with knowledge of the matter. The lender, whose identity has not yet been confirmed, informed Evergrande earlier this week that it had appointed a receiver to take charge of the property.

2. EY bosses approve radical break-up of Big Four firm The plan, which would reshape the accounting industry, follows a summer of delays and internal disagreements over how a split should work as EY aims for a stock market listing of its advisory arm late next year. It will now proceed to a vote of 13,000 partners.

3. ECB raises rates by 75 basis points The move by the European Central Bank, which was unanimously backed by all 25 members of the governing council and matches the ECB’s previous biggest increase in borrowing costs, lifts the bank’s benchmark deposit rate from zero to 0.75 per cent — the highest level since 2011. ECB president Christine Lagarde added that there would be “several” rate rises in the coming month.

4. Ukraine claims significant gains in counter-offensive Ukraine claimed to have regained territory in its eastern regions in the most successful counter-attacks since troops repelled an assault on Kyiv and the north-east by Russian forces in the first months of the war.

5. Liz Truss unveils £150bn UK energy plan The dramatic state intervention to shield Britain from soaring energy costs was accompanied by promises to increase domestic oil and gas production, restart fracking for shale gas and reform the energy market. The plan, however, includes just six months’ cover for business compared with two years for households.

Have you kept up with the news this week? Take our quiz.

The day ahead

China consumer price index and producer price index figures August data are set to be released. In July consumer price inflation reached 2.7 per cent for the month, just shy of estimates of economists polled by Bloomberg of 2.9 per cent. See how your country compares on rising prices.

Tajikistan Independence Day The national holiday will be marked today. When much travel was halted in 2020, Sophy Roberts reminisced about travelling off the beaten track in Tajikistan.

What else we’re reading

Can Japan feed itself? When the Japanese food retail industry’s collective doors open on October 1, shoppers who have barely experienced inflation since the early 1990s will be hit by the most severe price shock in almost two generations. Without immediate agricultural reforms, the country is vulnerable to an intensifying global food crisis.

India and China undercut Russia’s oil sanctions pain A Financial Times analysis shows India and China imported 11mn more tonnes of oil from Russia in the second quarter of 2022 compared with the first quarter. The sales offset most of the fall in shipments to Europe and raise questions about the impact of sanctions on Moscow.

North Korea seizes on Russian isolation to deepen ties with Putin The disclosure that Russia has purchased “millions of rockets and artillery shells” from North Korea is the latest sign of warming ties between the countries, after Pyongyang broke with Chinese policy in July and recognised the breakaway territories of Luhansk and Donetsk in Russian-occupied Ukraine.

How a tiny particle that can travel through concrete could save lives Engineers use X-rays, ultrasound and radar to hunt for signs of corrosion and potential failure in concrete. But all have limitations. Now, using particles from space, scientists are developing technology to safely and cheaply see through almost any structure on the planet. Believers say the muon revolution is only two or three years away.

Queen Elizabeth II: a life in pictures

Explore these enduring images of the journey to the throne and the service of Britain’s longest-reigning monarch