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