FirstFT: Chinese trading firm Zhongcai nets $500mn from silver sell-off
Also in today’s newsletter: Trump and Xi discuss Ukraine and Taiwan, and US seeks critical minerals trade zone
US tech stocks hit with fresh wave of selling as chipmakers Qualcomm and AMD tumble
Declines follow steep falls for software shares in previous session over worries about new AI tool
Iran should prepare for ‘meaningful’ negotiations with US, Rubio says
Tehran seeks to limit talks to nuclear aims as Washington pushes for concessions on missiles and proxy programmes
Arm CEO says AI software sell-off a ‘micro-hysteria’
SoftBank-owned chip group forecasts strong growth in data centre business but shares slide amid wider tech stock rout
Google adds $55bn to capex plans as it boosts AI spending
Search giant reported second straight quarter of more than $100bn in revenue
Chris Rokos’s hedge fund ends talks with Mandelson over advisory role
Billionaire trader’s firm had been in discussions with former UK minister after he was fired as ambassador to the US
Help us explain Los Angeles neighbourhoods
To understand LA geography, visitors need an annotated map. We’ll use your answers to this short survey to make one
Trump’s border tsar announces withdrawal of 700 federal agents from Minneapolis
Drawdown comes as backlash against enforcement tactics forces president to soften approach to immigration crackdown
Starmer engulfed in leadership speculation as he backtracks over Mandelson papers
PM agrees to parliamentary oversight of release of documents about peer’s appointment as ambassador to US
White House seeks critical minerals trade zone to curb China’s dominance
Effort marks rare instance of Trump administration aiming to collaborate with global allies on trade
Epstein advised former prince’s team on proposed deal with Cantor Fitzgerald
Aides to Andrew Mountbatten-Windsor worked with convicted sex offender on planned agreement with US investment bank
Orbán orders courts to drop lawsuits against his government
Rights groups say move marks fresh low for rule of law in Hungary
First Brands founder Patrick James pleads not guilty in company’s collapse
CEO’s brother Edward also enters not guilty plea to fraud and conspiracy counts
Top Senate Republican says Fed’s Powell has not ‘committed a crime’
Banking committee chair Tim Scott pushes back against probe into US central bank chief
Six Palestine Action activists cleared of aggravated burglary
Jurors could not reach verdicts on several other charges, meaning they face the prospect of a retrial
Farage calls for EU to probe Mandelson’s time in Brussels
Reform UK leader claims former trade commissioner may have misused his position for personal gain
Kirkland lawyer sought use of Epstein helicopter after securing plea
Jay Lefkowitz also invited sex offender to son’s bar mitzvah two years after his prison release, emails say
Britain’s inequitable student loan system
Graduate discontent is growing over their repayment terms
Hong Kong’s CK Hutchison takes Panama to arbitration over canal ports ruling
Beijing warns Central American country will pay ‘heavy price’ after top court ruled to kick out conglomerate from terminals
UK delays worker protections against ‘fire and rehire’ practices
Government consulting on softening the impact of new laws on employers
Glencore-Rio megamerger ‘hangs in the balance’ as deadline looms
Rio wants to hold both CEO and chair roles in combined company while Glencore holds out for premium
Novo Nordisk is the biggest loser in the weight-loss duopoly
The Danish group’s share of the global GLP-1 market is shrinking, while Eli Lilly’s products are gaining ground
Novo Nordisk’s shares tumble after sales warning as gap widens with Eli Lilly
Danish drugmaker warns of ‘unprecedented pricing pressure’ while US weight-loss rival’s value exceeds $1tn
Trump and Xi discuss Ukraine and trade ahead of US state visit to Beijing
Call took place after Chinese leader spoke to Vladimir Putin about global instability