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The Latest Breaking News from FT

Outside Frieze’s big tent, the London art world faces severe headwinds

Galleries have closed and auction sales are down as Brexit boosts European events such as Art Basel Paris

The Guardian - UK

Pink Floyd agree to sell music rights to Sony in deal worth 400 million dollars

After years of discussions, Pink Floyd have finally sold the rights to their recorded music

Louder

Peak luxury: how long can London’s grand hotel boom last?

From basement builds to rooftops, revamped Whitehall ministries and once-were embassies, the capital’s hotels are in an opulence arms race to lure exacting guests

The Guardian - UK

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Levi Strauss Sees Delay In Reaching $10 Billion Revenue Goal By 2027: Report

Levi Strauss may be delayed in its goal of reaching $10 billion in revenues by 2027.

International Business Times

'My kids won't suffer': Ed Balls on surname bullying trauma

The ex Labour politician chose not to give his children his surname

Evening Standard

Starmer’s free tickets for Arsenal and Taylor Swift part of job, says minister

Business secretary, Jonathan Reynolds, defends PM over gifts he has received since becoming Labour leader

The Guardian - UK

Starmer’s £100,000 in tickets and gifts more than any other recent party leader

Prime minister has come under fire recently for clothing, accommodation and glasses provided by Waheed Alli

The Guardian - UK

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Report claims renting slower Nvidia AI GPUs is cheaper in China than in the US — but that's thanks to some rather surprising underhand strategies

Report claims that renting slower Nvidia AI GPUs is cheaper in China than in the US

TechRadar

Government urged to help as shipmaker Harland & Wolff prepares to enter administration – as it happened

Steps are now being taken to reduce headcount at Harland & Wolff, as board concludes the company is insolvent

The Guardian - UK

China's startup scene is dead as investors pull out—'Today, we are like lepers'

"The whole industry has just died before our eyes. The entrepreneurial spirit is dead. It is very sad to see."

Fortune

CIA And MI6 Hold Rare Joint News Conference In London

CIA and MI6 intelligence chiefs address international security issues at FT festival, emphasizing unity and support for Ukraine.

Top News

Even as Concord dies a fast death, Sony exec says PlayStation doesn't have enough original IP and "that's an issue for us"

"Whether it's for games, films or anime, we don't have that much IP that we fostered from the beginning"

GamesRadar

Temu parent tops Tesla with biggest cash pile of any public company that doesn’t pay investors

PDD Holdings, the parent company of Chinese e-commerce giants Temu and Pinduoduo, has a cash pile that totals $38 billion, according to the FT.

Fortune

Libya’s central bank chief flees country over militia threats: Report

Tripoli-based Presidential Council appoints new board of directors, with banking operations suspended amid upheaval.

Al Jazeera

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TechRadar

Tech giants are looking to repurpose old power stations for data center demand

The likes of Microsoft, Amazon and Google are looking to repurpose old power stations to meet data center demand.

Fortune

IKEA is taking on eBay to become the go-to destination for second-hand furniture online

Listing products on the Ikea Preowned website will be free for now, said the CEO of the furniture chain’s largest retailer.

Fortune

Ship captain who saw Mike Lynch's yacht sink blames 'extreme mast'

"The center of gravity is too high with this extreme mast," Dutch ship captain Karsten Börner told the Financial Times.

The Guardian - UK

Canadian export agency ‘nursing losses’ after lending $1bn to Thames Water

State-backed body EDC has reportedly sold at deep discount five loans made to debt-ridden UK utility

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Fortune

Top Fed official says he’s open to a rate cut sooner rather than later amid slowing inflation

Atlanta Fed President Raphael Bostic said waiting to cut rates is risky.

Tom’s Hardware

SoftBank's Intel AI processor plans in doubt as insiders say it is now considering a TSMC partnership

SoftBank had to start talks with TSMC after it canceled plans to produce AI processors with Intel as the company failed to meet production requirements.

Al Jazeera

Barclays planned to withdraw from Israeli bond auctions: Report

UK bank wanted to quell criticism over involvement with defence firms supplying Israeli military.

Fortune

Goldman Sachs says voters are shifting to Kamala Harris—and the odds of a blue wave are swelling

Harris has a three percentage point lead on Trump in national polls.

Tom’s Hardware

Firm says Nvidia's skyrocketing AI valuation is in a 'bubble' and 'overhyped' — Elliott says AI apps are not viable

Elliot Management follows Sequoia Capital's assessment that AI is overhyped, which makes Nvidia's stock a bubble.

The Independent UK

EU reveals its eight demands for a better relationship with Britain

Keir Starmer has made rebuilding ties with Brussels a top priority since the general election, after years of mistrust between the two sides over Brexit

The Guardian - UK

Bitcoin price hits six-week high after Trump backs cryptocurrency

Former president says he will end persecution of crypto industry if he wins US election in November

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