FirstFT: Surge in diesel prices deals powerful blow to industrial America
Also in today’s newsletter: global private equity avoids China and US chip stocks lead sell-off
Mark Walter sought loan from Apollo backed by Lakers stake
Talks over the financing continued until Guggenheim chief reached a deal to sell the holding in the basketball team
UAE suspends trade with Iran after saying it fired missiles at Gulf state
Defence ministry says weapons were targeting maritime traffic but fell into the sea
OpenAI says it will expand monitoring of model testing after hacking incident
AI lab plans to dedicate more computing resources to security after one of its ‘agents’ escaped control and attacked a start-up
Burnham launches pandemic-style drive to cut rough sleeping
UK prime minister vows to ‘get people out the cold’ in run-up to Christmas, in echo of policy he supported in Manchester
Ukraine’s ousted defence minister calls for wartime election
Mykhailo Fedorov launches major challenge to President Volodymyr Zelenskyy
Klarna overhauls leadership as it targets US banking licence
Swedish ‘buy now, pay later’ lender seeks New York-based finance chief as part of efforts to revamp business model
Transcript: Does the market know anything about oil?
Katie Martin talks to Malcolm Moore
US chip stocks slide as government borrowing costs hit multiyear highs
Fears over inflation and mounting public debt ignite bond sell-off
Does the market know anything about oil?
US oil reserves are dropping. Will prices skyrocket?
Soaring diesel prices rip across US economy
Rising fuel costs threaten new jolt of inflation ahead of November’s midterm elections
BHP’s copper pivot is paying off
Miner’s pipeline looks increasingly convincing given the red metal’s ubiquitous use
Barbie box office smash isn’t yet a boon for Mattel
California-based toy mainstay that owns the famous doll brand has an enterprise value of just above $6bn
Confessions of an eclipse addict
The total solar eclipse is the peak experience and one happens somewhere in the world every 18 months
Can Burnham save Britain’s high streets?
Town centres need to become community hubs for the 21st century
Andy Burnham hails shake-up of bus services in West Midlands
Prime minister praises ‘single biggest act of public control’, even though routes will ultimately be run by private groups
Israeli strikes on Syrian air base criticised by US and Turkey
Bombing of military site is ‘an unnecessary escalation’ and underlines regional tensions over Damascus regime
Reform UK suspends Tory defector Tim Montgomerie after criticism of Nigel Farage
Board member called out party leader last week for failing to appear at Clacton by-election count
Disney accuses Trump administration of cracking down on freedom of speech
US media giant accuses Federal Communications Commission of cracking down because it ‘disapproves’ of its broadcasts
Diageo sheds 2,000 staff as CEO Dave Lewis kicks off restructuring
Drinks group’s workforce shrank last year after rise in employer taxes and decline in demand
Signature Group founder banned as company director for five years
Property group subsidiary ‘distributed false and misleading marketing material’ according to Insolvency Service
Canada makes final attempt to avoid US tariffs on $20bn of goods
Also in today’s newsletter, how are voters reacting to a string of progressive candidates’ primary victories?
Here’s Apollo’s big First Brands short presentation
Fear factor
Forget the bond rout, fund managers are in party mode
Ain’t no party like a capex party, because apparently a capex party don’t stop