OpenAI and Anthropic models went rogue in cyber tests, UK watchdog says
AI Security Institute warns tools undertook ‘potentially harmful activity directed at real people and organisations’
Musk’s SpaceX unnerves investors with lavish AI spending plans
Shares slide even as group says its quarterly revenues nearly doubled
US revokes visa for Brazilian ambassador
Retaliatory move deepens diplomatic rift ahead of South American nation’s October elections
FT Crossword: Number 18,444
Trump’s ex-lawyer poised to become attorney-general after ‘slush fund’ U-turn
Todd Blanche’s nomination clears US Senate panel as Republican holdouts drop objections
FirstFT: SpaceX surpasses analysts’ expectations in debut earnings report
Also in today’s newsletter: India proposes widening tax exemptions for foreign investors and Malaysia’s $100bn ‘cursed island’
‘Two very different characters’: Miliband and Rubio to meet in Washington
Foreign secretary to discuss Strait of Hormuz, Ukraine and Gaza with US counterpart
Trump administration refunds $100bn in ‘liberation day’ tariffs
US customs officials repay about 60% of the levies that were struck down by the Supreme Court
India raises $40bn from diaspora to support sagging rupee
Central bank’s rare push to repatriate savings has drawn stronger than expected inflows
US cannot ‘stay isolated’ from Chinese EV competition, warns Lucid CEO
Carmaker’s new boss predicts industry ‘shakeout’ and announces $1.4bn cost-cutting programme
US stocks jump after Bessent says deal to reopen Hormuz is imminent
S&P 500 hits record high as Iranian and Omani negotiators agree on temporary shipping arrangement
UK to strip back procurement rules to focus on job creation, says Louise Haigh
Andy Burnham’s de facto deputy PM says requirements for businesses vying for Whitehall contracts will be streamlined
The Story of Money: The trader who made $100mn from the 1929 crash — only to lose it all
Today, we're bringing you an episode from another podcast in the FT stable: The Stor…
P&G seals $3.8bn deal for supplements company Thorne
Consumer goods group expands its health business in a sector that has boomed since Covid pandemic
US diesel prices overtake Biden-era average in blow to Trump
Cost for fuel that powers industrial America set to remain elevated even as crude falls
An overdue show of EU solidarity with Spain
Instinct to punish Madrid’s liberal approach to migration is self-defeating
Palantir rides high on greed and fear — but mostly fear
Given its prodigious growth and the belief that this will continue, the anxiety many feel is the fear of missing out
Salzburg’s Ariadne auf Naxos gets lost in space
The Festival transports Strauss’s opera to Mars — with a rough landing
Early release scheme may not avert future prison crisis, say experts
Ex-chief inspector of prisons warns of ‘real risk’ that measure will not be enough to prevent overcrowding within a few years
US labour market stable in June
While headline vacancies fell, other indicators suggested robust economic activity
Spotify profits hit by heavy spending as fears build over streaming growth
US-listed group’s user growth forecasts miss estimates as it invests in AI tools to build its subscriber base
Wall Street’s insurance takeover presents circular risks and rewards
Aggressive tactics are prompting increased regulatory scrutiny
MFS administrators sue Barclays after accounts access frozen
Creditors of failed UK mortgage provider try to recoup assets amid allegations of double pledging
Japan LLC trading update
Currency P&L looking sweet