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[EN] Financial Times

FT Crossword: Number 18,359

US indicts Mexican governor on drug charges

Sinaloa governor Rubén Rocha alleged to have close links with deadly cartel

Big Tech’s earnings get ever bigger, and ever less useful

Meta, Alphabet and peers are growing smartly, but their value hinges on hard-to-answer questions about AI supremacy

Powell vows to remain on Fed board as he warns over attacks by Trump

US central bank chief says he will continue as a governor even after Kevin Warsh succeeds him as chair

Met chief calls for greater condemnation of attacks on Jewish targets after stabbing

North London incident described as ‘antisemitic’ by Sir Keir Starmer is declared a terrorist incident by police

Musk says he was ‘a fool’ to fund the launch of OpenAI

Billionaire says Sam Altman wanted ‘halo effect’ of a non-profit while enriching himself in second day of his testimony

Bill Ackman’s Pershing Square USA slides on Wall Street debut

Weak investor demand hits hedge fund chief’s scaled-back double offering

Trump’s $1mn gold card visa fails to excite the world’s wealthy

US government filing shows only 338 people have submitted formal requests for the fast-track residency scheme

FirstFT: Goldman Sachs prevents Hong Kong bankers from using Anthropic’s Claude

Also in today’s newsletter: oil tops $120 and Asian chipmakers surge

Google and Meta boost AI spending forecasts

Facebook owner’s stock drops 7% while Alphabet, Microsoft and Amazon report strong cloud computing growth

Google told staff it is ‘proud’ of Pentagon AI contract after internal backlash

The tech giant signed an artificial intelligence deal with the defence department on Monday

Trump and PGA Tour reunite under gold statue at Doral

Sculpture presides over Cadillac Championship’s return to president’s Miami resort after decade-long absence

Oil tops $120 as Trump signals extended Hormuz stand-off

Brent crude rises for eighth straight day as US president says he will keep naval blockade in place

Italy seeks compensation from Switzerland over nightclub tragedy

‘Gesture’ by Giorgia Meloni’s government escalates feud between neighbours over deadly fire in Swiss ski resort

Volkswagen rolls out cheaper EVs in battle with Chinese carmakers

ID.Polo is one of four planned affordable electric vehicles across the VW, Škoda and Cupra brands

Trump’s Iran war has cost $25bn, Pentagon says

Use of costly missiles and air defence interceptors raises alarm about US readiness for other conflicts

Farage accused of breaking Commons rules by not disclosing £5mn gift from crypto billionaire

Reform UK leader says money from Christopher Harborne was meant to make him ‘safe and secure’

Burnham backs borrowing outside fiscal rules to boost defence spending

Greater Manchester mayor warns Labour needs to take a ‘different course’

Federal Reserve holds rates as three hawks oppose ‘easing bias’

Dissents suggest deepening divide on FOMC as Powell announced he will stay on the board of governors for now

EU in talks with Hungary’s Magyar on workaround for frozen funds

Brussels seeks ways of extending part of €10bn beyond an August deadline

UK ticket tout ban set to be delayed for a year

Only draft legislation is likely to be included in next month’s King’s Speech

Build data centres in Scotland not London, says Britain’s energy grid boss

Comments by Fintan Slye come as government seeks to increase capacity to power AI boom

Reeves defends record as chancellor as cabinet reshuffle rumours grow

Labour MPs speculate that Keir Starmer will revamp his top team after next week’s elections

Powerful Indian female leader prepares for Modi showdown

West Bengal election centres on ‘fearless’ chief minister Mamata Banerjee, analysts say, as millions culled from voter rolls