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The Latest Breaking News from FT

Starmer creates ‘Budget board’ to boost economic growth and keep businesses onside

Starmer’s ‘budget board’ is part of his reset following the resignation of Angela Rayner last week

The Independent UK

George Osborne ‘to miss out on big windfall’ from sale of investment bank

Former chancellor is now partner at Robey Warshaw but is expected to move to part-time role, report says

The Guardian - UK

'Godfather of AI' says the technology will create massive unemployment and send profits soaring — 'that is the capitalist system'

"We are at a point in history where something amazing is happening, and it may be amazingly good, and it may be amazingly bad."

Fortune

From analysis to the latest developments in health,
read the most diverse news in one place.

‘Existential crisis’: how Google’s shift to AI has upended the online news model

Media sites are taking action on several fronts as traffic referrals dry up and AI companies plunder their content

The Guardian - UK

ExxonMobil Faces Tough Choices In Europe As Competition From China Intensifies

ExxonMobil (NYSE:XOM) stock is trading lower on Friday after reports indicating the company plans to sell parts of its European chemical business. The industry struggles with U.S. tariffs, high energy costs, and growing competition from China.

Benzinga

OpenAI To Mass-Produce 1st Proprietary AI Chip With Broadcom, Secures $10 Billion Deal: Report

OpenAI is set to begin mass production of its first proprietary artificial intelligence chip next year through a partnership with Broadcom Inc. (NASDAQ:AVGO), marking a strategic shift away from its reliance on Nvidia Corp. (NASDAQ:NVDA) amid surging demand for artificial intelligence computing power.

Benzinga

Giorgio Armani death latest: Julia Roberts and Donatella Versace react to legendary Italian designer’s death

Tributes are pouring in for the Italian designer

The Independent UK

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Thousands of Lloyds Banking Group staff at risk of losing jobs in push for ‘high-performance culture’

The banking group plans to change how it monitors the performance of its employees and manages staff turnover

The Independent UK

Lloyds to put thousands of staff at risk of dismissal in performance drive

The banking group plans to change how it monitors the performance of its employees and manages staff turnover within the business.

Evening Standard

EU chief Ursula von der Leyen's plane 'hit by Russian GPS jamming attack'

The suspected attack disabled GPS navigation services at a Bulgarian airport forcing the pilot to land the plane using only paper maps

Evening Standard

Ukraine-Russia war latest: Top EU leader’s plane forced to land blind after suspected Russian GPS jamming

Pilots driving a plane carrying European Commission head Ursula von der Leyen were forced to use paper maps to land

The Independent UK

Ukraine war briefing: Europe drawing up plans for troop deployment; Zelenskyy vows retaliation for drone strikes

Ursula von der Leyen says troops will have backing of US capabilities; Ukrainian president says ‘new deep strikes’ planned on Russia after drone attacks on energy infrastructure

The Guardian - AU

Banks hold FTSE 100 back on windfall tax worry

The FTSE 100 index closed down 29.48 points, 0.3%, at 9,187.34.

Evening Standard

Bankers found out they were being fired after email asking for their laptops to be returned sent by mistake

The error occurred at Australian lender ANZ

The Independent UK

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news in one place.

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Benzinga

Trump's First-Term Ban On EUV Tools Stalled Huawei, SMIC, Cambricon — Now China's Chip Factories Are Roaring Back, Warns David Sacks

White House-appointed “Crypto Czar” David Sacks warned Wednesday that Chinese semiconductor manufacturers are surging back despite previous export controls, citing new production data showing China’s chipmakers planning to triple artificial intelligence processor output.

Benzinga

Temu Resumes Direct China-US Shipping, Increases Ad Spend Following Trump Trade Truce That Cuts Chinese Tariffs

Amazon.com Inc. (NASDAQ:AMZN) rival bargain ecommerce platform Temu has resumed direct shipments from Chinese factories to U.S. consumers and boosted advertising spending after a trade truce between Washington and Beijing reduced tariff pressures.

PC Gamer

After cancelling 8 of the 12 live service games Sony promised to release by 2025, PlayStation studios boss says the number doesn't really matter: 'What is important to me is having a diverse set of player experiences'

"I don't want teams to always play it safe, but I would like for us, when we fail, to fail early and cheaply."

Benzinga

Howard Lutnick's 'Insulting' Words Trigger Backlash In Beijing As Regulators Pressure Alibaba, ByteDance To Shun Nvidia Chips: Report

Beijing has reportedly moved to curb sales of Nvidia Corporation's (NASDAQ:NVDA) China-specific AI chip after U.S. Commerce Secretary Howard Lutnick made remarks about export policy that Chinese officials reportedly found "insulting."

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news in one place.

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Fortune

Goldman Sachs says we’re on the verge of a stablecoin gold rush worth trillions

U.S. Treasury Secretary Scott Bessent believes stablecoins will buoy the market for U.S. Treasuries, and the government will sell more short-term debt to meet that demand.

Benzinga

Sam Altman And OpenAI Target $250M For Neuralink Rival Merge Labs, Escalating Billionaire Feud With Elon Musk Over Brain Implants

Sam Altman, the OpenAI co-founder valued at the center of artificial intelligence's rapid ascent, is preparing a challenge to Elon Musk in the high-stakes brain-computer interface market. Altman is co-founding a new venture, Merge Labs, alongside Alex Blania, the chief executive of World, an iris-scanning digital ID project also backed…

Windows Central

NVIDIA and AMD will pay 15% for the right to sell to China in Trump's AI chip tax — "America cannot repeat 5G and lose telecommunication leadership"

Just a couple of weeks after the US government rescinded the ban on NVIDIA's H20 AI chip sales to China, it was announced that both NVIDIA and AMD will hand over 15% of their revenue from specific AI GPUs in order to receive export licenses.

Tom’s Hardware

DeepSeek reportedly urged by Chinese authorities to train new model on Huawei hardware — after multiple failures, R2 training to switch back to Nvidia hardware while Ascend GPUs handle inference

DeepSeek’s bid to train R2 on Huawei’s Ascend chips failed due to technical limits, forcing a return to Nvidia GPUs and delaying the launch.

The Guardian - UK

UK tax data reportedly suggests claims of non-dom exodus overblown

HMRC figures appear to indicate departure of high net worth people is in line with OBR predictions, report says

Benzinga

IBM, Google, Amazon, Microsoft Lock Horns In Billion-Dollar Race to Build Million-Qubit Quantum Computers And End A 40-Year Tech Dream

International Business Machines Corp. (NYSE:IBM), Alphabet Inc.‘s (NASDAQ:GOOGL) (NASDAQ:GOOG) Google, Amazon.com Inc. (NASDAQ:AMZN) and Microsoft Corp. (NASDAQ:MSFT) are intensifying their pursuit of industrial-scale quantum computers, with recent breakthroughs bringing the decades-old dream within reach by 2030.

Kiplinger

July CPI Report Ignites a Risk-On Rally: Stock Market Today

Market participants price out worst-case scenarios for tariffs and inflation and will now turn their attention to employment and growth.

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