Russia unleashes huge missile and drone attacks on Kyiv
Bombardment follows Zelenskyy’s warning that Moscow is preparing ‘massive strike’
Woah-oh, we’re halfway there
A strong first half (until the last bit)
Chinese energy stock triples in Asia’s biggest IPO this year
China Resources New Energy raises $3.6bn amid heavy demand from retail investors
Pay more for defence to get goodies from Trump, US tells Nato allies
Also in this newsletter: Montenegro can get a share of the EU’s next seven-year budget
What are the rules on insider betting, really?
It’s more interesting than you might think
Chanel acquires luxury Parisian shirtmaker Charvet
Deal for revered brand follows earlier collaboration with Chanel creative director Matthieu Blazy
FTAV’s further reading
Mervyn King; randomised trials; AI; ticks; LLMs; t’interwebs; the dollar; and Igor Tulchinsky
FirstFT: OpenAI proposes US government stake
Also in today’s newsletter: Tank maker’s postponed IPO and Burnham’s finance boost
Transcript: Lebanon peace deal — can it hold?
Gideon Rachman talks to Roula Khalaf and Andrew England
OpenAI proposes handing Trump administration 5% stake
Sam Altman’s start-up in early talks for a public ownership deal as political pressure rises
Transcript: UBS bets on the US
Marc Filippino speaks to Mercedes Ruehl and Max Seddon
Andy Burnham’s team looks to revamp UK’s AI strategy
Focus is expected to shift to making technology work for local communities rather than US companies
Bank of England to push ahead with plan to limit hedge fund leverage
Move to make gilt market more resilient has been criticised for potentially raising funding costs
Bending Spoons takes private equity public
The Italian tech group behind AOL is a good analogue for PE-backed software and tech roll-ups
HMRC’s clampdown on the corporate structure that saves City firms millions
UK tax authority has won a series of legal cases involving limited liability partnerships
‘Let it rip’: how US egg producers gamed prices while blaming bird flu
Evidence amassed by prosecutors shows executives privately colluded to keep prices aloft while shifting focus for cause
EU weighs weaker data centre climate rules in win for Big Tech
Past proposals for strict rules on renewable energy certificates have been dropped after heavy lobbying, draft shows
UBS to trial US banking services in push for wealthy American clients
Swiss group plans to open accounts for staff as early as December to test pricing and products
UK public finances weather Iran war, Burnham to be told
Britain’s likely next prime minister may choose to raise taxes to fund his spending plans
How do we save the wilting new homes market?
Like it or not, the government will have to help developers before houses and rents become even more unaffordable
The economics of women’s weight
A new study suggests weight-loss drugs help women find work — and prompt men to leave their partners
Americans prepare for most expensive July 4 celebration ever
Tariffs and war in Iran have kept food and gasoline prices high as country marks 250th birthday
Can Kevin Warsh tame the Fed’s $7tn balance sheet?
Pragmatism, not ideology, should be the guide
The battle to stop a prized collection of art from leaving Mexico
The Gelman Santander Collection includes paintings by Frida Kahlo and is set to tour Europe. An activist group fears the consequences