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The Latest Breaking News from FT

Bankers found out they were being fired after email asking for their laptops to be returned sent by mistake

The error occurred at Australian lender ANZ

The Independent UK

Trump's First-Term Ban On EUV Tools Stalled Huawei, SMIC, Cambricon — Now China's Chip Factories Are Roaring Back, Warns David Sacks

White House-appointed “Crypto Czar” David Sacks warned Wednesday that Chinese semiconductor manufacturers are surging back despite previous export controls, citing new production data showing China’s chipmakers planning to triple artificial intelligence processor output.

Benzinga

Temu Resumes Direct China-US Shipping, Increases Ad Spend Following Trump Trade Truce That Cuts Chinese Tariffs

Amazon.com Inc. (NASDAQ:AMZN) rival bargain ecommerce platform Temu has resumed direct shipments from Chinese factories to U.S. consumers and boosted advertising spending after a trade truce between Washington and Beijing reduced tariff pressures.

Benzinga

From analysis to the latest developments in health,
read the most diverse news in one place.

After cancelling 8 of the 12 live service games Sony promised to release by 2025, PlayStation studios boss says the number doesn't really matter: 'What is important to me is having a diverse set of player experiences'

"I don't want teams to always play it safe, but I would like for us, when we fail, to fail early and cheaply."

PC Gamer

Howard Lutnick's 'Insulting' Words Trigger Backlash In Beijing As Regulators Pressure Alibaba, ByteDance To Shun Nvidia Chips: Report

Beijing has reportedly moved to curb sales of Nvidia Corporation's (NASDAQ:NVDA) China-specific AI chip after U.S. Commerce Secretary Howard Lutnick made remarks about export policy that Chinese officials reportedly found "insulting."

Benzinga

Goldman Sachs says we’re on the verge of a stablecoin gold rush worth trillions

U.S. Treasury Secretary Scott Bessent believes stablecoins will buoy the market for U.S. Treasuries, and the government will sell more short-term debt to meet that demand.

Fortune

Sam Altman And OpenAI Target $250M For Neuralink Rival Merge Labs, Escalating Billionaire Feud With Elon Musk Over Brain Implants

Sam Altman, the OpenAI co-founder valued at the center of artificial intelligence's rapid ascent, is preparing a challenge to Elon Musk in the high-stakes brain-computer interface market. Altman is co-founding a new venture, Merge Labs, alongside Alex Blania, the chief executive of World, an iris-scanning digital ID project also backed…

Benzinga

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NVIDIA and AMD will pay 15% for the right to sell to China in Trump's AI chip tax — "America cannot repeat 5G and lose telecommunication leadership"

Just a couple of weeks after the US government rescinded the ban on NVIDIA's H20 AI chip sales to China, it was announced that both NVIDIA and AMD will hand over 15% of their revenue from specific AI GPUs in order to receive export licenses.

Windows Central

DeepSeek reportedly urged by Chinese authorities to train new model on Huawei hardware — after multiple failures, R2 training to switch back to Nvidia hardware while Ascend GPUs handle inference

DeepSeek’s bid to train R2 on Huawei’s Ascend chips failed due to technical limits, forcing a return to Nvidia GPUs and delaying the launch.

Tom’s Hardware

UK tax data reportedly suggests claims of non-dom exodus overblown

HMRC figures appear to indicate departure of high net worth people is in line with OBR predictions, report says

The Guardian - UK

IBM, Google, Amazon, Microsoft Lock Horns In Billion-Dollar Race to Build Million-Qubit Quantum Computers And End A 40-Year Tech Dream

International Business Machines Corp. (NYSE:IBM), Alphabet Inc.‘s (NASDAQ:GOOGL) (NASDAQ:GOOG) Google, Amazon.com Inc. (NASDAQ:AMZN) and Microsoft Corp. (NASDAQ:MSFT) are intensifying their pursuit of industrial-scale quantum computers, with recent breakthroughs bringing the decades-old dream within reach by 2030.

Benzinga

July CPI Report Ignites a Risk-On Rally: Stock Market Today

Market participants price out worst-case scenarios for tariffs and inflation and will now turn their attention to employment and growth.

Kiplinger

Half of trucks produced at Scania’s €2bn production site in China will be exported

Scania’s new Chinese production facility will open in October in a bid to reduce costs in the Asian market and stay ‘close to rivals’.

Euronews

Nvidia responds to claim China is urging local companies to avoid Nvidia H20 — report claims authorities have sent notices discouraging use, especially for government-related purposes

A new report claims that China is urging local companies to avoid using Nvidia's H20 chip.

Tom’s Hardware

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news in one place.

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Windows Central

“American National Security Principles Are Negotiable for the Right Fee” — Why NVIDIA and AMD Agreed to Pay the US Government 15% of China AI Chip Revenue

Tom’s Hardware

Nvidia and AMD reportedly sharing 15% of their China GPU revenue in exchange for export licenses — 'unprecedented' export revenue sharing deal may have been struck

Nvidia and AMD have reportedly agreed to pay the U.S. government 15% of China-sourced revenues to unlock export licenses for previously restricted chips.

Euronews

Gold futures rise after report Trump has placed tariffs on gold bars

The futures reached a record high on Friday after the US reportedly placed tariffs on imports of one-kilo gold bars.

The Guardian - UK

Gold futures rise to new high after reports Trump has imposed tariffs on one-kilo bars – as it happened

Rolling coverage of the latest economic and financial news

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news in one place.

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Tom’s Hardware

China semiconductor 'megamerger' strategy reportedly stalling — new report says high-level merger plans to strengthen domestic chip industry face multiple headwinds

Despite China’s push to consolidate its semiconductor sector into a few strong players, efforts have largely stalled due to valuation conflicts, political obstacles, and technological gaps.

The Guardian - UK

The inside story of the Murdoch editor taking on Donald Trump

Since her arrival at the Wall Street Journal, British editor-in-chief Emma Tucker has shaken up not only her own newsroom but also the White House

Fortune

The markets are behaving as if Europe has pulled the wool over Trump's eyes

Investors are trading as if one of two conditions will turn out to be true: That the deal is composed of stuff that was going to happen anyway, or that the U.S. Supreme Court will rule Trump's deals are illegal.

The Guardian - AU

Middle East crisis live: malnutrition in Gaza on ‘dangerous trajectory’, says WHO, as airdrops of aid begin – as it happened

WHO calls for urgent, sustained efforts to flood the Gaza Strip with food after Israeli military announces pause in activity

PC Gamer

Financial Times report suggests chip smugglers shifted an alleged $1 billion worth of Nvidia's AI chips to China over the course of 3 months while stricter US export controls were in effect

"There is no evidence that [Nvidia] is involved in, or has knowledge of, its restricted products being sold to China."

The Independent UK

Odey High Court legal claims to be tried together, judge rules

Crispin Odey is suing the Financial Times for libel and is separately being sued by five women over denied claims of alleged misconduct.

Evening Standard

Financial Times ‘unconvinced’ Odey libel claim is ‘serious’, High Court told

Mr Odey is suing the publication for at least £79 million in damages over four articles published in 2023.

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