Carlsberg sales volumes hit after losing San Miguel UK licence
Danish brewer’s soft drinks sales double thanks to Britvic acquisition
How to get England building more homes, not ‘bat tunnels’
Croydon’s surge in development on small sites shows how a rules-based system can unlock housebuilding
Starmer to release vetting documents for Mandelson’s US ambassador role
Move by prime minister comes as Conservatives push for publication of all messages relating to appointment
Data and publishing stocks deepen slump on AI threat
Media and analytics businesses have fallen sharply following release of new Anthropic tools
Novo Nordisk shares tumble 18% after sales warning
Danish drugmaker reports rise in revenues but flags pricing pressure as market becomes more crowded
UBS profits rise on cost savings from Credit Suisse takeover
Switzerland’s biggest bank announces $3bn share buyback, adding more could come subject to regulatory regime
Zurich agrees £8bn takeover for UK insurer Beazley
Swiss group increases offer after several approaches to FTSE 100 company
Market concentration is nothing to worry about
It’s just what markets do
FTAV’s further reading
British cooking; Howard Silverblatt; those equal signs; AI uprising; Dario Item
Ukraine peace talks resume even as Russia breaks temporary ceasefire
Also in this newsletter: EU citizens worry about war and poverty
Epstein files show art market financialisation in full flow
A Black mark on ‘Château Noir’
FirstFT: Russia suspected of intercepting Europe’s key satellites
Also in today’s newsletter: Lloyds overhauls strategy and Santander’s US acquisition
US stocks drop on fears AI will hit software and analytics groups
New Anthropic legal tool sends shares in companies including S&P Global and Intuit sliding
Tech Exchange
This series features conversations between FT journalists and the technology industry’s leaders, innovators, and thinkers. In the latest instalment, Chinese AI pioneer Kai-Fu Lee talks about the competition between the technology’s two superpowers
Where to stay in Hong Kong
From the city’s grandes dames to new design classics
The central bank of Elon Musk
The billionaire has merged his rocket maker with his lossmaking AI start-up
Mediobanca’s top private bankers decamp to Deutsche Bank
Move by German lender comes in the wake of Milanese lender’s takeover by Monte dei Paschi
Transcript: The Muskverse enters a new era
Marc Filippino talks to Ciara Nugent and Richard Waters
New Nestlé boss plots strategic overhaul to reignite growth
Consumer group is under pressure to slim down following tumultuous period
LIV Golf to be lossmaking for rest of the decade, CEO says
Scott O’Neil says Saudi-backed tour will not break even for 5 to 10 years as he tries to sell stakes in teams at $1bn valuations
Transcript: How the Federal Reserve might change under Kevin Warsh
Michela Tindera talks to Claire Jones
The Treasury market is treading in dangerous waters
Bank balance sheets lack capacity to intermediate the surging amount of trading in the US government bonds
Reading the runes on a Warsh Fed
The presumptive next chair might be better than others on the list, but he is a confusing, perhaps confused, figure
How copper miners are squeezing their way out of a shortage
With demand set to soar, the industry has got inventive over extracting the metal using leaching initiatives