FirstFT: Google burned through cash last quarter amid AI infrastructure splurge
Also in today’s newsletter: OpenAI ‘agent’ hacks into start-up and India’s Gen Z takes on Modi
Russian gas cargoes to remain exempt as EU nears new sanctions deal
Groups such as Greece’s Dynagas will be allowed to continue carrying Russian LNG
Tesla profits plunge as discounts on EV models weigh on results
Capital expenditures more than doubled as company accelerates pivot to semiconductors, autonomous taxis and humanoid robots
Google reports $6bn cash burn last quarter as it raises AI spending again
Search giant says it will commit up to $205bn on AI investments in 2026
US and Saudi Arabia agree landmark nuclear energy pact
Washington says deal would pave the way for ‘decades-long, multibillion-dollar partnership’
Taiwan’s drone ambitions play to its tech manufacturing strengths
Scaling up brings economies of scale, and the island is taking another lesson from China’s playbook: dual-use technology
Vale shareholders elect new chair following governance dispute
Clash revived warnings of undue state influence in Brazilian mining company as pension fund’s candidate wins vote
Mercedes risks US sales ban under Senate China bill
Commerce panel approves legislation barring companies with significant Chinese ownership from US market
Trump threatens to destroy Iranian bridges and power plants
US president’s warning marks latest attempts to assert American control over Strait of Hormuz
Aston Martin strikes £550mn debt deal despite creditor objections
Cash-strapped carmaker defies lenders who branded transaction with BlackRock-owned HPS as ‘extraordinary’
Segro board signals it would back £14bn takeover after battle with US bidder
Real estate group Prologis’s ‘best and final’ approach for London-listed rival follows previous £13.5bn bid
The real barrier to Africa’s solar energy boom
Reducing the cost of capital is the only way to ensure the expansion of renewable energy across the continent
Greek tycoon’s tanker towed into Iranian waters
Shipping group Dynacom ‘trying to verify’ whereabouts of vessel hit in Strait of Hormuz
UK education secretary accused of misleading claim about Oxford entry
Former Xaverian College pupils say Lucy Powell was not the ‘only one’ in her year to attend elite university
Big Four’s use of offshore auditors sparks concern from UK accounting watchdog
Financial Reporting Council says it will monitor how the largest firms manage their overseas teams for the next year
India should listen to its frustrated youth
Gen Z protests reflect young people’s growing anxiety about their future
Why ‘workforce orchestrator’ is the next hot job
Designing and directing mixed human and agentic teams may be key to conducting the future of work
The best theatre shows to see in London and beyond
Pakistan seeks $10bn US facility to shore up reserves
Country seeks to gain from its role mediating between Washington and Tehran
European gas prices approach Iran war highs as traders fret over winter supplies
Heatwaves and bidding war with Asian buyers leave market vulnerable to Strait of Hormuz disruption
EU review of airline ownership rules clouds Apollo’s £5.7bn easyJet bid
Shares in UK low-cost carrier slide as Brussels move casts doubt on takeover
The battle over America’s War Powers Act
Trump, like Nixon before him, believes Congress should not constrain his belligerence
The Lucid dream can continue on a bed of Saudi money
With Riyadh’s backing, the electric-car maker could get through this crunch period
The deed thieves targeting New York brownstones
As property values rise, more titles are being stolen from homeowners without their knowledge