Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Sequoia Capital, Silicon Valley’s best-known venture capital firm, has committed to investing in Elon Musk’s artificial intelligence start-up xAI, boosting the Tesla chief’s efforts to raise billions and take on OpenAI, Meta and Google. Musk
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Stay informed with free updates Simply sign up to the Electric vehicles myFT Digest — delivered directly to your inbox. China’s control over a crucial battery material will make it nearly impossible for any electric-vehicle makers to qualify for the subsidy scheme at the heart of President Joe Biden’s flagship green tech legislation, South Korea
Shares of Los Angeles-based social media platform Snap jumped more than 30 per cent after its earnings beat analysts’ expectations as increasing demand for its advertising services boosted sales. The company’s revenue of $1.2bn in the first three months of 2024 was 21 per cent above the same period a year earlier. Net losses narrowed,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Alphabet’s revenue jumped 15 per cent in the first quarter of 2024 and it announced it would pay its first dividend of 20 cents a share, buoyed by a rise in earnings across its main
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Microsoft beat expectations for revenue and cloud sales on Thursday in an earnings report that cheered investors who have been looking for signs of a pay-off from its investment in artificial intelligence. Revenue climbed 17
Stay informed with free updates Simply sign up to the Monetary policy myFT Digest — delivered directly to your inbox. The European Central Bank is likely to need extra interest rate cuts if global borrowing costs are pushed up by the US Federal Reserve maintaining its restrictive monetary policy stance, a top eurozone policymaker has
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. New York’s highest court has overturned Harvey Weinstein’s conviction for sex crimes and rape, and ordered a new trial for the once-powerful film mogul whose reported abuse of women fuelled the #MeToo movement. Weinstein was
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. How did the word “capitalism” arise? If you ask most investors that question today, they might mutter about markets, commerce and Adam Smith — or Karl Marx. But according to Michael Sonenscher, a British
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Home secretary James Cleverly has warned Conservative MPs considering a leadership challenge to Rishi Sunak after next week’s local elections that an attempted putsch would be a “catastrophic idea”. Cleverly said on Thursday that Tory
BHP has proposed a £31bn deal to buy Anglo American, one of its largest rivals, in a deal that would mark the mining sector’s biggest on record. The big prize for BHP, the world’s biggest mining group, is taking its rival’s prized copper mines, as well as bolstering its position in iron ore and metallurgical
Stay informed with free updates Simply sign up to the US economy myFT Digest — delivered directly to your inbox. The US economy grew less than expected in the first quarter of 2024, at an annualised rate of 1.6 per cent, hit by higher inflation data that spooked investors. The growth figure from the Bureau
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Few dissent from the view that a Labour government would soon be overwhelmed by economic forces. A stagnating UK economy, feeble government finances, stressed public services and a volatile electorate certainly make for a challenging
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. BHP has turned its pickaxe to the equity markets to find the metal it desires: copper. Anglo American, one of the few miners to build a copper mine in recent years, offers growth in the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. South Africa’s minerals resources minister has voiced his opposition to BHP’s £31bn proposal to take over Anglo American, fuelling doubts over a deal that would combine two global mining companies. Gwede Mantashe told the Financial
Stay informed with free updates Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox. It may be rash to extrapolate from a sample size of one (me). But I confess that my memory is not perfect: I forget some things, confuse others and occasionally “remember” events that never happened.
Stay informed with free updates Simply sign up to the Electric vehicles myFT Digest — delivered directly to your inbox. Britain’s electric vehicle policy is “terrible” and threatens to bankrupt carmakers, the head of Vauxhall owner Stellantis warned on Thursday. Carlos Tavares said the UK’s quota regime, which requires manufacturers to meet EV sales targets
Why are miners always trying to buy each other? Mining capex collapsed with commodity prices nearly a decade ago and has never really recovered, with free cash used to fund share buybacks instead. Buybacks were a way to improve production per share without actually improving production. The charts below, from Jefferies, are a little old
TikTok’s Beijing-based owner has increasingly taken a grip over its operations, according to company insiders who said there was a growing culture clash between its Chinese leaders and US staff. The US government passed legislation this week aimed at forcing TikTok to divest from China’s ByteDance or face a countrywide ban, but prising the viral
Facing one of the worst stock slumps in Tesla’s 14-year history, Elon Musk was under pressure this week to deliver a reassuring message to investors about its next generation of electric vehicles and a persuasive vision for an AI-driven, automated future. Instead, what the chief executive offered — alongside even worse than expected first-quarter profits
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Ukraine is set to increase long-range attacks inside Russia as an influx of western military aid aims to help Kyiv shape the war “in much stronger ways”, the head of the UK military has