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The Latest Breaking News from FT

Alibaba And SMIC Power Beijing's Bid To End Reliance On Nvidia And ASML

Alibaba Group Holding Ltd. (NYSE:BABA) shares advanced in premarket trading Wednesday after reports that the company secured China Unicom as a major client for its artificial intelligence chips.

Benzinga

US And UK Move Toward Joint Crypto Regulatory Framework

US officials see the effort as a way to keep dollar-denominated stablecoins competitive globally, while UK regulators want to make London a hub for digital asset finance post-Brexit.

International Business Times

65-year-old retirees in France now have higher incomes than working-age adults—meanwhile, American boomers can't even afford to retire

While the French are enjoying higher wages in retirement than the country’s workers, nearly a fifth of American retirees are “struggling” or “living the nightmare.”

Fortune

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

Speaker raps Stephen Flynn after eviscerating speech on Mandelson-Epstein scandal

SNP Westminster leader Stephen Flynn was warned about language after he quoted Peter Mandelson and described Jeffrey Epstein’s criminal acts…

The National (Scotland)

UK Health department 'considering return to disastrous PFI scheme'

THE Department of Health and Social Care has reportedly sounded out private investors to build health centres in England, which could see a return…

The National (Scotland)

‘Your friends love you,’ Mandelson told Epstein after 2008 charges, emails show

UK’s ambassador to US wrote ‘your friends love you’ in 2008 as financier charged with procuring child for prostitution

The Guardian - UK

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

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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

‘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

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

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Evening Standard

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

The Independent UK

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 Guardian - AU

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

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news in one place.

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Evening Standard

Banks hold FTSE 100 back on windfall tax worry

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

The Independent UK

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

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."

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.

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