Financial Times

The Financial Times' Victor Mallet warns that France's two-round election system in the 2027 elections could force center voters to choose between far-right and far-left extremes, potentially leading to a #LePen victory. This system may open the door for a far-right win over the far-left.

Businesses report blocked or delayed payments from Saudi Arabia to UAE accounts, raising concerns about deteriorating relations between the Gulf neighbors. Saudi Arabia's central bank denied imposing direct restrictions, while tensions are linked to disputes over Israel, Yemen, and Somalia. Bilateral trade between the two countries exceeds $20 billion annually.

Tesco is considering the sale of its Eastern European business, according to a report by the Financial Times. The article mentions a Tesco logo but provides no additional details.

Apple is beginning to test CXMT chips for devices sold in China, according to the Financial Times. The testing process is focused on hardware components intended for the Chinese market.

Spanish monarch Juan Carlos I was initially revered for preventing a dictatorship in 1981 but later faced public disgrace due to personal vices and accepting luxurious gifts. The book 'Downfall of a King' by Paul Preston details his activities, described as scholarly rather than salacious.

NATO is struggling to keep up with the evolving global arms race, as its technology and doctrine are deemed outdated. Analysts highlight the rise of drone-centered warfare, long-range missiles, and AI-guided systems, with countries spending $2 trillion on advanced military technologies including anti-satellite weapons.

Sarah O’Connor's book 'We Are Not Machines' examines the impact of AI and automation on labor dignity and safety, drawing parallels to historical worker struggles. The review notes declining UK job vacancies and growing concerns about AI-driven employment disruptions.

The article discusses the upcoming FOMC minutes and Warsh's debut at the Federal Reserve, as analyzed in the Financial Times' Markets Questions guide for the week ahead.

The European Union is revising its proposed environmental rating system for datacenters to allow cross-border use of clean energy certificates for emissions offsets, following lobbying from tech companies and industry groups. The original plan required offsets to be sourced locally, but the amendment aims to reduce operational costs for datacenter operators.

Pope Leo XIV excommunicated 750 priests from the Society of St. Pius X, an ultraconservative group opposing 20th-century reforms and linked to Europe's far right. The move followed the group's defiance by ordaining bishops without Vatican approval, creating the church's largest schism in 150 years.

Blue Owl is experiencing a significant investor exodus with $4.7bn in redemption requests. The Financial Times tracked 20 private credit funds showing over $22bn in withdrawal requests during the second quarter.

Shares in one of China’s biggest renewables firms nearly tripled on its public debut amid recovering interest in China’s equity markets. The surge is driven by global renewable energy expansion, AI data center power demands, and rising consumer demand for home battery installations.

French-German tank maker KNDS delayed its stock-market listing due to European defense-sector volatility, despite completing most preparations. The company plans to resume the IPO process when market conditions improve, citing investor confidence in its long-term strategy and differentiated industry positioning.

OpenAI, the developer of ChatGPT, is reportedly discussing offering the U.S. government a 5% stake, according to the Financial Times (FT). The article does not provide additional details about the terms or implications of the proposed stake.

OpenAI's Sam Altman is proposing that leading AI companies provide a five percent equity stake to US sovereign funds, as reported by the Financial Times.

OpenAI is in early talks to give a 5% stake to the US government. CEO Sam Altman argues this would share AI benefits, with other firms potentially following a similar approach, according to the Financial Times.

OpenAI is reportedly in early talks to give a 5% stake in the ChatGPT developer to the US government. CEO Sam Altman argued that this move would share the benefits of AI and that other firms might adopt similar approaches, according to the Financial Times.

President Vladimir Putin acknowledged Russia is facing a difficult period as Ukraine expanded long-range attacks on infrastructure, including a defense plant and a major oil refinery. Russian fuel production has declined, and the stock market fell in June by the most since 2022. A former Russian official expressed pessimism about the conflict's outcome, while a Financial Times commentator suggested Europe could use the situation to increase support for Ukraine and tighten sanctions.

The article questions whether AI stocks will experience further volatility and highlights 'Market Questions' as the Financial Times' guide to the week ahead.

Google has restricted Meta's access to its Gemini AI models due to insufficient computing capacity to meet Meta's high demand, disrupting some of Meta's AI projects. Other Google clients were also affected, though less severely, while Meta urged staff to use AI tokens more efficiently.

Rahm Emanuel, a Democrat politician, discusses how to fix America in a bonus episode with Ed Luce. The conversation is part of an interview for the Financial Times.

A former Russian central bank advisor claims Putin's regime is declining due to unsustainable war spending, fiscal rule violations, and economic strain from the Ukraine conflict. Russia's budget deficit has doubled 2025's projected level, while its sovereign wealth fund dwindles, and Ukraine's military advances worsen domestic fuel shortages and public anger.

Apple is seeking clearance from the Trump administration to purchase chips from a company linked to the Chinese military, as reported by Financial Times. The company in question is a US-blacklisted Chinese entity.

The United States is a major obstacle to China-Venezuela oil-for-loan agreements, complicating a historic $240 billion debt restructuring. Venezuela plans to disclose this debt pile following Washington’s January abduction of then President Nicolas Maduro.

Asian markets declined sharply due to a tech stock sell-off, with South Korea's benchmark index down 5.8% and markets in Hong Kong, Japan, and Taiwan also falling. Tech companies like SK Hynix, Micron, and Apple faced volatility as rising input costs and competition from AI-driven demand for memory and processors weighed on investor confidence.

Binance will stop providing services to European clients after failing to obtain a license under the European Union's Markets in Crypto-Assets Regulation. Crypto companies must secure a license by July 1 to avoid penalties.

The Federal Reserve's outlook for interest rates is shifting toward a hawkish direction. The Financial Times' Monetary Policy Radar team released a June forecast on the topic.

The article examines the rise of lithium-ion batteries from the 1970s to their current geopolitical significance. It criticizes how wealthier nations pursue green energy goals while outsourcing the associated costs to other regions, as highlighted by the Financial Times.

Venezuela's GDP has fallen from $370 billion in 2012 to $100 billion, with a $240 billion debt pile expected to be revealed. The US-imposed regime change and lifted sanctions may enable a historic debt restructuring, surpassing Greece's 2012 default and involving numerous creditors without IMF participation.

Tech stocks in Asia and the US fell sharply due to concerns over interest rate hikes, excessive spending, and overvaluation. SanDisk and Micron, which had surged earlier this year, dropped 13% amid a broader Nasdaq decline of 2.2%, while South Korea’s KOSPI index experienced record volatility, plummeting 10% before partially recovering.

Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani stated that the country will resume normal liquefied natural gas production within a few weeks after suspending it due to Iranian attacks on the Ras Laffan plant. An explosion at the plant caused by a technical accident resulted in 13 deaths and at least 66 injuries.

Germany plans to cancel its multi-billion-euro F126 frigate project, leading to a significant drop in defense stocks. Rheinmetall's stock fell 13% following the announcement.

The article discusses the likelihood of the European Central Bank (ECB) raising interest rates again, as indicated by the June forecast from the Financial Times' Monetary Policy Radar team.

The article discusses how six individuals' lives were impacted by the Brexit vote, as reported by The FT through interviews with people affected by Britain's decision to leave the EU.

The U.S. and Iran are disputing the terms of a $6 billion release of frozen Iranian oil revenues, with the U.S. conditioning access on purchasing approved humanitarian goods and Iran rejecting U.S. control over spending. The disagreement highlights diverging views on post-ceasefire control and could test the stability of the broader U.S.-Iran agreement.

Russia accused the US of failing to follow through on understandings from last year’s Alaska summit, reflecting Moscow’s frustration over Washington’s pro-Ukraine shift. President Donald Trump reportedly supports Ukraine’s drone strikes and potential sanctions on Russia, with Ukraine gaining leverage through battlefield victories. Analysts note Moscow’s nervousness and predict a Russian push to align Trump’s position.

The Bank of Japan is progressing toward normalizing monetary policy, with a potential interest rate increase expected in December. The June forecast from the Financial Times' Monetary Policy Radar team is referenced as a key indicator.

AbbVie agreed to acquire Apogee Therapeutics for $10.9 billion in cash, valuing the company at $135.11 per share, a 50% premium over its previous closing price. The deal focuses on Apogee's lead drug, zumilokibart, which targets IL-13 and is being tested for inflammatory diseases like atopic dermatitis and asthma.

Fertilizer prices are falling due to hopes for a US-Iran deal, with urea down 50% from its April peak, though phosphate prices remain high. Food shortages are anticipated after a disrupted planting season, as 50% of food output relies on nitrogen-based fertilizers, with a food economist warning it may take six months for supply chains to normalize and higher costs to affect food prices in a year.

Italian Prime Minister Giorgia Meloni's public feud with President Donald Trump is described by analysts as a strategic move to enhance her domestic and international standing ahead of Italy's 2027 general election. The dispute escalated after Trump claimed Meloni 'begged' for a photo at the G7, prompting Meloni to deny the accusation and assert Italy's national interests, while experts suggested the confrontation could yield political benefits despite declining approval ratings.