Server maker Super Micro Computer lifted its fully year sales outlook, signalling growing demand for AI chips. The company, which works closely with Nvidia, now expects $14.7bn to to $15.1bn in sales for its fiscal year that will end in June, better than the $14.6bn analysts expect. Revenues rose 200 per cent from a year
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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. Demand for artificial intelligence lent momentum to sales growth in Amazon’s cloud computing division, the company said on Tuesday, in the latest sign of the fast-growing technology reshaping the fortunes of Big Tech. Amazon Web
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A man has been sent to Rwanda under a voluntary relocation scheme for failed asylum seekers set up by the UK government, in what officials are keen to present as a “proof of concept” for
Stay informed with free updates Simply sign up to the UK financial regulation myFT Digest — delivered directly to your inbox. Jeremy Hunt has warned the Financial Conduct Authority against its plan to “name and shame” companies under investigation in an unusual broadside against the UK’s top financial regulator. “I hope the FCA re-look at
Stay informed with free updates Simply sign up to the Gig economy myFT Digest — delivered directly to your inbox. Deliveroo, Just Eat Takeaway and Uber Eats have agreed to conduct direct checks on all UK riders’ immigration status after coming under pressure from ministers to tackle illegal working and exploitation in the sector. The
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Scotland’s former first minister, Labour’s Lord Jack McConnell, used to say “do less, better”. The trouble for his successors from the Scottish National party, their critics say, is they have been doing plenty, badly. Independence,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Elon Musk has shut down the division that runs Tesla’s Supercharger business, dismissed two senior executives and fired hundreds more staff as the electric-car maker continues its restructuring amid a sharp downturn in the EV
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. BlackRock has struck a deal with the Saudi Arabian government to open a multi-class investment firm in Riyadh, anchored by a $5bn mandate from the kingdom’s Public Investment Fund. BlackRock Riyadh Investment Management will be
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israel’s prime minister vowed on Tuesday to push ahead with an offensive in the Gazan city of Rafah whether or not a ceasefire deal is reached with Hamas, as he held urgent talks with ministers
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. House Democrats have said they would kill a right-wing effort to oust Republican Mike Johnson as the chamber’s Speaker, in a display of bipartisanship that comes after he defied members of his own party to
In the autumn of 2020 at the height of the coronavirus pandemic, Australian mining behemoth BHP completed a relatively small oil deal in the Gulf of Mexico, buying out minority partner Hess Corporation. In hindsight, the $505mn transaction marked BHP chief Mike Henry’s nascent acquisition drive. This ambition culminated with the biggest takeover approach in
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The race to be the next first minister of Scotland and leader of the Scottish National party has whittled down to two likely candidates as the governing nationalists look set to see off an opposition
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump has been found in contempt of court and fined $9,000 for repeatedly attacking potential witnesses and jurors in his Manhattan “hush money” case, in violation of a gag order imposed on the former
Stay informed with free updates Simply sign up to the Global Economy myFT Digest — delivered directly to your inbox. The proportion of human beings living on the margin of subsistence is estimated to have fallen from close to 80 per cent in 1820 to just under 10 per cent in 2018. What makes this
In the not-too-distant future, automatic emergency braking will have to come standard on all new passenger vehicles in the US, a requirement that the government says will save hundreds of lives and prevent thousands of injuries every year. The National Highway Traffic Safety Administration unveiled the final version of the new regulation on Monday and
On Saturday, protesters rallied outside the White House Correspondents’ Association dinner in Washington, D.C. Protesters staged a die-in to honor the more than 140 journalists killed in Gaza during Israel’s assault. Protesters screamed “Shame on you” as journalists dressed in black tie attire entered the Washington Hilton. CodePink co-founder Medea Benjamin was violently thrown out
Shared office space provider WeWork announced on Monday a settlement with its junior creditors and a new cash infusion from its senior lenders, moving ahead with a bankruptcy deal that rejects a $650 million offer from co-founder and former owner Adam Neumann. During a hearing in Newark, NJ, US Bankruptcy Judge John Sherwood signed off on the
Southwest Airlines said it had launched a compensation program for flight delays as part of a $140 million Department of Transportation settlement over the carrier’s meltdown in December 2022 during a busy holiday travel period. Southwest in December 2023 agreed over three years to provide $90 million in travel vouchers of $75 or more to passengers delayed at least three
On Friday, an Israeli airstrike in Gaza City killed the daughter and grandson of the prominent Palestinian poet Refaat Alareer, who was killed in an Israeli airstrike in December. Shaima Refaat Alareer died Friday along with her husband and 2-month-old son. Shaima had recently written a message on Facebook addressed to her late father, writing,
As earlier threatened, the Food and Drug Administration (FDA) has just issued new rules that will significantly slow down the development of new diagnostic tests. Specifically, the agency requires that all laboratory-developed tests (LDTs) be submitted to its regulators before the tests can be offered to patients and physicians. As I explained earlier, LDTs are
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. There are three things that Joe Biden cannot shake off: his Secret Service guards, his own shadow and the phrase “ . . . since Lyndon Johnson”. He is described as the most consequential Democratic president since Lyndon Johnson.